- New Gold announced Wednesday that the company produced 111,204 gold equivalent ounces in Q3 2023, up 22% from the prior year period.
New Gold noted that due to the"strong operational performance" over the first nine months of the year, its consolidated 2023 production is tracking to the top end of guidance and all-in sustaining costs are tracking to the low end of the guidance range. The company’s net loss decreased from $4.2 million in Q3 2022 to $2.7 million in Q3 2023, primarily due to an increase in revenues resulting from higher gold prices and higher gold and copper sales, partially offset by higher operating costs and higher unrealized losses on the revaluation of the Rainy River gold stream obligation and the New Afton free cash flow interest obligation.