New Gold affirms guidance
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The company said production is on track to meet annual guidance of 465,000 to 520,000 gold equivalent ounces.
The company said it has liquid assets of $420 million on hand. In August, the company completed a bought deal financing for gross proceeds of C$150 million, which were used for debt finance.
Despite affirming guidance, the company warned that heavy precipitation at its Rainy River Mine, responsible for about 60% of the miner's gold production, is causing disruptions.
"During the second half of the quarter, the operation experienced periods of significant rainfall, averaging more than 60% above the 30-year average for Q3," said the company.
"Over the next few weeks and until construction of Stage 2 of the tailings management area (TMA) is completed in late October, the mine will prioritize management of the water levels in the TMA, which may cause sporadic interruptions of the processing facilities and/or reduced throughput."