New Gold misses Q4 earnings forecast as gold, silver sales sag

February 16, 2017

Responsive image

Precious metals miner New Gold has reported a headline loss of $2.3-million, or nil per share, for the three months ended December, as lower gold and silver sales volumes more than offset the benefit from higher gold and silver prices and higher copper sales volumes.
The Toronto-headquartered company announced late on Wednesday that higher realised copper, silver and gold prices were offset by a 29% decrease in gold sales to 93 936 oz, mainly attributable to the Peak Mines, which benefitted from mining and processing significantly higher gold grade material in the previous-year and Cerro San Pedro transitioning into residual leaching.

Category: General