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Tuesday, 20th October 2009 (4235 views)

Mining company New Gold has announced a 16 per cent increase in gold sales for the third quarter of 2009.

The Canada-based firm - which also has operations in the US, Mexico, Australia, Brazil and Chile - said that it sold 77,645 ounces of the precious metal in the last three months, compared with 67,156 in the same quarter last year.

It additionally revealed that gold production at its Cerro San Pedro and Peak Mines was in line with expectations and that output at Mesquite is anticipated to be "significantly higher" in the last three months of 2009.

"Performance at both Cerro San Pedro and Peak Mines remained strong in the third quarter, achieving production targets with lower than expected cash cost," commented Robert Gallagher, president and chief executive of New Gold.

The company announced a 30 per cent increase in gold sales for the second quarter back in August.

 

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