New Gold Expects 2024 Consolidated Gold Production To Be 310,000-350,000 Ounces Vs. 321,178 In 2023
Portfolio Pulse from Benzinga Newsdesk
New Gold Inc. forecasts its 2024 consolidated gold production to range between 310,000 to 350,000 ounces, compared to 321,178 ounces in 2023. The company anticipates stronger production in the latter half of 2024, attributing approximately 60% of its annual production to this period due to waste stripping at Rainy River in the first half. Additionally, New Gold expects a 16% increase in copper production for 2024, estimating between 50 to 60 million pounds, thanks to a higher output from C-Zone at New Afton.
February 13, 2024 | 10:31 pm
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New Gold Inc. anticipates a slight variation in gold production for 2024 compared to 2023, with a significant portion of production expected in the second half of 2024. The company also expects an increase in copper production by 16%.
The forecasted increase in gold and copper production for 2024 suggests a positive outlook for New Gold Inc.'s operational efficiency and output. The strategic sequencing of waste stripping at Rainy River to boost the second half's production, along with the increased contribution from C-Zone at New Afton, underlines the company's proactive management and operational planning. This is likely to be viewed positively by investors, potentially leading to an uptick in NGD's stock price in the short term.
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