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New Gold produces 104,857 gold equivalent ounces in Q1, up 20% y-o-y

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(Kitco News) - New Gold (TSX: NGD) (NYSE: NGD) yesterday reported that in Q1 2023, the company produced 104,857 gold equivalent ounces, up 20% from Q1 2022.

New Gold said that at Rainy River, the company achieved its "strongest first quarter of any year in the operation's history" and delivered production growth of nearly 13% over the same period last year as greater underground ore tonnes contributed to better-than-expected grade, which more than offset lower tonnes milled.

The company added that at New Afton, gold and copper production "improved meaningfully" over the same period last year, as the operation's focus remained on steady state mining of B3 and C-Zone development.

Importantly, the company noted it remains well positioned to meet all annual production guidance metrics outlined earlier this year.

New Gold is a Canadian-focused intermediate mining company with a portfolio of two core producing assets in Canada, the Rainy River gold mine and the New Afton copper-gold mine. The company also holds Canadian-focused investments.

Copper producer Amerigo Resources reports production above guidance in first quarter

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