Golden goal: Newfoundland mine steps towards being mid-tier Canadian gold producer - PNI Atlantic News

AI desk brief

New Found Gold said Hammerdown in central Newfoundland has reached commercial production after meeting 60-day criteria on Aug. 19: average throughput of 748 tpd, 87.7% gold recovery and 2.92 g/t feed grade, above the 600 tpd threshold and 80% recovery target. The mine produced 9,140 oz in the first eight months of 2026, including 1,989 oz in August, at an average realized price of $6,271/oz.

The company said a crusher/sorter at Hammerdown remains on track for Q4 2026 and should lower crushing costs while upgrading mill feed. It also has permit approval to convert Pine Cove from flotation to gravity processing, which it says could lift mill capacity from 700 tpd to 1,400 tpd and raise recoveries on Hammerdown feed from 87% to about 92%.