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New Gold's Core Mines On Target To Meet 2019 Guidance

Kitco News

(Kitco News) - New Gold Inc. (TSX, NYSE American: NGD) Wednesday reported second-quarter gold production that leaves the company on track to achieve its 2019 guidance.

Production at the company’s core Rainy River and New Afton Mines was 132,556 gold-equivalent ounces, including 85,216 ounces of gold, 151,305 ounces of silver and 21.6 million pounds of copper. Officials said this keeps New Gold on pace to meet annual guidance of 465,000 to 520,000 gold-equivalent ounces.

Renaud Adams, chief executive officer, said the April-June period was the third consecutive quarter of in-line results for New Gold.

“Significant advancements have been made at Rainy River, with the mill achieving its throughput, recovery and availability targets,” the CEO said. “We are excited to enter the next phase of optimization that will focus on controlling and reducing costs while we complete capital projects, positioning the operation for efficient and sustainable mining.”

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