Comparison to New AftonOre grade at New Afton
Au 0.62 g/t
Ag 2.1 g/t
Cu 0.82%
From New Golds AR
Outlook for 2017
Gold production at New Afton should decrease relative to 2016 due to an expected decrease in gold grade and recovery.
The mine is expected to operate at similar throughput levels to 2016. Copper production should remain in line with 2016.
New Afton’s 2017 operating expenses should remain in line with 2016, while all-in sustaining costs are targeted to remain
among the lowest in the industry. The decrease in all-in sustaining costs is due to an increase in by-product revenues of
approximately $35 million, or $460 per ounce, resulting from the 2017 copper price assumption being higher than the
2016 realized price. This is partially offset by an increase in sustaining costs of approximately $17 million, or $225 per
ounce, mainly attributable to increased mine development of the B3 zone.