New Gold reported Q4 and 2022 operational results. Gold eq. production was 97,824 ounces in Q4 and 347,054 oz. for 2022. Gold production was 80,694 oz. in Q4 and 271,373 in 2022. Copper production was 6.9 Mlbs. and 31.1 Mlbs. for Q4 and 2022, respectively. "New Gold was faced with several challenges in 2022, but our teams remained resilient executing on our plans, and as a result, our operations met all updated production guidance targets", stated Patrick Godin, CEO. "In Q4, Rainy River delivered the strongest quarter of the year, driven by a 25% increase in quarter-over-quarter grades as higher grade underground ore was introduced to the mill, which was partially offset by lower throughput. At New Afton, the team achieved revised guidance for both copper and gold, and successfully ramped up B3 production to the targeted rate of 8,000 tonnes per day, ahead of plan. New Gold and its operations exit 2022 on a strong note, well positioned for the new year."
Published first on TheFly
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