New Gold cuts quarterly net loss as gold equivalent production up 45% in second quarter NewGold
- New Gold yesterday reported gold equivalent production of 102,374 ounces in Q2 2023, up 45% compared to Q2 2022 .
The company’s Q2 2023 revenue of $184.4 million increased over the prior-year period due to higher gold prices and higher gold and copper sales volumes, partially offset by lower copper prices. Adjusted net earnings of $11.6 million increased over the prior-year period due to higher revenues and lower finance costs, partially offset by higher operating expenses, and depreciation and depletion.
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