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(Kitco News) - New Gold (TSX: NGD) (NYSE: NGD) today reported strong quarterly operational results, delivering gold equivalent production of 102,374 ounces in Q2 2023, a 45% increase over the prior year period.
The company said that at Rainy River, strong quarterly production results were attributed to higher mill availability due to the team's proactive measures taken during the planned maintenance activities.
New Gold also noted that in addition to a great operating quarter, the company continued to make “meaningful progress” advancing its growth initiatives and securing the future production.
According to a press release, C-Zone development at New Afton continued and remains on-track for first ore production in the fourth quarter of this year, and development of the underground Main Zone at Rainy River has commenced as planned.
As a result, the company said 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.
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| Calibre sets third consecutive quarterly gold production record with 69koz produced in Q2 |
