New Gold reports production setback at New Afton, says on track to meet 2021 guidance
(Kitco News) - New Gold (TSX and NYSE American: NGD) announced Tuesday that its total production for the first quarter of 2021 was 96,026 gold equivalent ounces (66,650 ounces of gold, 187,224 ounces of silver and 13.8 million pounds of copper), in-line with plan.
The Rainy River mine produced 56,513 gold eq. ounces (54,656 ounces of gold and 133,730 ounces of silver) for the quarter, in-line with plan.
The New Afton mine produced 39,512 gold eq. ounces (11,994 ounces of gold and 13.8 million pounds of copper) for the quarter, slightly below plan, as underground mining operations continue to be safely and sequentially ramped-up following the tragic mud-rush incident on February 2, 2021. The company added it is on-track to achieve its annual guidance estimate.
New Gold is a Canadian-focused intermediate gold mining Company with a portfolio of two core producing assets in Canada, the Rainy River gold mine and the New Afton copper-gold mines. The company also holds an 8% gold stream on the Artemis Gold Blackwater project located in British Columbia and a 6% equity stake in Artemis.