New Gold profit jumps, keeps cash costs at $400/oz
New Gold, which owns mines in Mexico, the US and Australia, and is also developing projects in Canada and Chile said second-quarter earnings rose to $49.8 million from a year-earlier profit of $14.1 million.
Quarterly gold sales volumes rose 15% to 95,039 ounces, while revenues rose 52% to $171.6 million. New Gold also reiterated that it expects to produce between 380,000 to 400,000 ounces of gold this year, at cash costs of $390 to $410 per ounce.
