New Gold Records Lowest-ever Cash Costs in 2013

New Gold Inc. (TSX:NGD,NYSEMKT:NGD) announced yesterday its operational results for the fourth quarter of 2013 as well as 2013 as a whole, commenting that its total cash costs for the year came in at $377 per ounce, the lowest in the company’s history.

Other highlights from the release include:

  • Highest production quarter of 2013 – 106,520 ounces of gold and 24.0 million pounds of copper
  • Low total cash costs of $316 per ounce and all-in sustaining costs of $883 per ounce
  • Met 2013 full-year outlook and achieved lowest total cash costs in company’s history
  • Production – 397,688 ounces of gold, 85.4 million pounds of copper and 1.6 million ounces of silver
  • 2013 year-end mineral reserves of 18.5 million ounces of gold, an increase of 127% per share when compared to the end of 2012
  • Year-end cash balance of $414 million

Randall Oliphant, New Gold’s executive chairman, commented:

We are pleased to have finished the year with a strong quarter which enabled us to deliver the lowest cash costs in our history. We are particularly proud to have increased the company’s reserves per share so significantly, and to have the highest reserves we have ever had, which positions New Gold well for the future. In 2014, we anticipate another solid year with even lower costs driven by the strong performance of New Afton, our biggest cash flow generator.

Click here to read the full New Gold Inc. (TSX:NGD,NYSEMKT:NGD) press release.