Loading ...New Gold Inc. (TSX: NGD; NYSE: NGD) shares trading in Toronto fell to a 12-month low on Thursday after the company reported weaker than expected June-quarter financial results and cast doubt on whether it might achieve its full-year production guidance.
After markets closed on Wednesday, New Gold said it expected to achieve the lower end of the 440,000 to 490,000 gold-equivalent ounces (GEO) range and possibly exceed its portfolio-wide all-in sustaining costs range of $1,230 to $1,330 per GEO at the higher end.
New Gold said in its earnings report the cornerstone Rainy River mine in Ontario recorded lower than expected grades from the East Lobe area in July.
https://www.mining.com/new-gold-shares-hit-a-12-month-low-on-rainy-rivers-grade-fade/