New Gold shares drop on Q1 financial results
Company reported an adjusted loss for Q1 at $18 million, or 3 cents per share, impacted by closure of the Rainy River mine.
Company reported an adjusted loss for Q1 at $18 million, or 3 cents per share, impacted by closure of the Rainy River mine.
A glimmer of hope that consumption could gradually return as major producers continue to cut output to counter a global glut.
Drill in Ecuador hole returned 21 metres of 4.26 g/t gold and 26.3 g/t silver starting at 617 metres downhole.
The company has reduced its copper guidance for the year by 75,000 tonnes to 755,000-805,000.
Unions in both South Africa and Peru are openly encouraging members not to return to mines.
Over the past five years, companies have been much more active on specific governance and social issues of ESG-related risks.
Antamina reported 210 positive cases of covid-19 in Peru and said the date to restart operations is still uncertain.
The sector often operates in rural or remote areas and workers live in close quarters, adding to the risks.
Nickel recovered from a four-year low of $10,865 a tonne in March to a current $12,820.
More than 8 miles of underground development is now completed, 3 miles ahead of schedule.