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Update: New Gold Posts Solid Q4 Operational Results, But Falling Copper Prices Are A Concern

New Gold (NGD) just announced fourth-quarter 2014 and full-year 2014 operational results, as well as 2015 guidance and updated reserves and resources. For the full year, New Gold produced 380,135 ounces of gold and 101.5 million pounds of copper, which led to solid all-in sustaining costs of $779 per ounce. The fourth quarter saw the highest quarterly gold production of the year with 105,992 ounces, and the company finished the year with $371 million in cash.

For 2015, New Gold expects similar results: the company has guided for gold production to increase 8% to 390,000-430,000 ounces; copper production to increase to 100-112 million pounds; and all-in sustaining costs are expected to fall in the range of $745-785 per ounce. In addition, sustaining capital should drop 8% to $120 million.

Readers will remember that I previously said New Gold was one of my favorite mid-tier gold miners, as the company has… Read More …