SEATTLE (Scrap Monster): New Gold Inc. reported strong operational results for the third quarter ended 30th September, 2023.
The company noted that both its operations- Rainy River and New Afton continued to achieve consistent quarterly production. It delivered production results of 111,204 gold equivalent ounces, higher by 22% from 91,021 gold equivalent ounces during the corresponding period a year before.
The cumulative production during the first three quarters of the year totalled 318,435 gold equivalent ounces, as compared with 249,230 gold equivalent ounces during the first nine months in 2022.
The company remains on track to meet its annual production guidance, said Patrick Godin, President and CEO of the company.
The press release noted that the Rainy River mine delivered on plan with a “continued focus on operational discipline, cost control, and cost saving initiatives”. Also, New Afton too delivered as mining from B3 continued to perform above expectations. It continued to advance on its development plans at both the assets and delivered important milestones during the quarter.
New Gold made significant advances in the connection ramp from Intrepid to the underground Main Zone at Rainy River. At New Afton, it successfully blasted the first draw bell from C-Zone.
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