New Gold Hits 2016 Production Guidance

New Gold Monday said production for 2016 was in line with its guidance and the company also provided its output target for 2017.

During the year, the company produced 381,663 ounces of gold, compared to its guidance of 360,000 to 400,000 ounces. Copper production of 102 million pounds exceeded the high end of the guidance range of 81 to 93 million pounds by 10%.

For 2017, gold production is expected to increase to 380,000 to 430,000 ounces while copper production is estimated to remain consistent at 100 to 110 million pounds.

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