New Found Gold Announces First Production Results from the Hammerdown Mine - Crux Investor

AI desk brief

New Found Gold reported first-quarter production at Hammerdown of 4,863 oz in Q3 2026, with 6,035 oz sold at an average realized gold price of US$4,310/oz (C$6,033). Mill feed averaged 2.76 g/t, recoveries were 85%, and mined material is reconciling within 5% of the resource model, indicating a solid ramp-up for the new operation.

Management said a permanent crusher/sorter should be substantially complete by end-2026 and commissioned in Q1 2027, which is expected to lower crushing costs and upgrade mill feed. The Pine Cove mill’s Gravity-CIL conversion remains the critical path for first Queensway mill feed in Q4 2027; the company ended September with about C$167 million cash, C$70 million debt, and says Queensway Phase 1 is fully funded.