New Found Gold Reports Q3 2026 Preliminary Production Results: Becoming Canada's Newest Gold Producer - Yahoo! Finance Canada

AI desk brief

New Found Gold reported its first quarterly results after declaring commercial production at Hammerdown on Aug. 19: Q3 output was 4,863 oz of gold, with 6,035 oz sold, an average realized price of US$4,310/oz, and 85% recovery. Management said Hammerdown and the Pine Cove mill are meeting or exceeding key targets, and expects a strong Q4/26 as the operation reaches steady state.

The company ended Sept. 30 with about C$167 million cash and C$70 million debt, plus C$35 million of additional debt capacity available subject to conditions. Next milestones include a permanent on-site crusher/sorter in Q4/26, drilling for an updated resource estimate in 2027, and the Pine Cove circuit conversion/expansion to 1,400 tpd targeted for completion in Q4/27. Management is guiding to a life-of-mine run rate of 20,000-25,000 oz Au/year at AISC of about US$2,500/oz once Hammerdown is fully ramped.