A strong start to 2019 for New Gold at its Rainy River mine.
President Renaud Adams says over 62-thousand ounces of gold were produced in the first three months, far exceeding what it did in the same period last year.
“We are very encouraged that the Rainy River Mine has delivered for the second consecutive quarter in-line results as the operations continue to improve quarter-over-quarter,” says Adams.
The company says its mill run 89 per cent of the time despite undergoing some significant repairs. Gold recovery reached a record 90 per cent.
Chief Financial Officer Rob Chausse says that helped New Gold’s overall financial picture.
“Q1 revenue was 13.8% higher than the prior quarter due to production increases related to a ramp up at Rainy River,” says Chausse.
Adams says they still focused on repositioning the mine becoming more efficient and sustainable.
New Gold is also starting some new exploration activity around the mine site in the search for new resources over the next three months.
