Newmarket Reports Record Gold Production for 2015

Newmarket Gold Inc. (TSX:NMI,OTCQX:NMKTF) announced its production results for the fourth quarter of 2015, as well as the year as a whole, commenting that it achieved record gold production for the third year in a row.
In 2016, the company plans to produce between 205,000 and 220,000 ounces of gold.
Highlights for 2015 are as follows:

• Record 222,671 oz consolidated gold production led by Fosterville; third consecutive year of record production
• Record 123,095 oz production at Fosterville, exceeding guidance, record grade of 6.11 g/t and record recovery of 88.5%
• 63,255 oz production at Cosmo, mill grade of 2.99 g/t and strong recovery of 90.7% in-line with revised guidance
• 36,321 oz production at Stawell exceeded guidance on grade of 1.56 g/t and 80.8% recovery
• Record low preliminary consolidated operating cash cost per ounce sold of $704, down 22% from $905 in full year 2014, in-line with guidance of $700 to $750
• Record low preliminary consolidated all-in sustaining cost (“AISC”) per ounce sold of $987, down 20.1% from $1,236 in full year 2014, in-line with guidance of $970 to $1,020
• Cash balance of approximately $36.5 million as at December 31, 2015, which reflects ongoing investment of $4.8 million in growth programs across our operations in Q4 2015. Preliminary unaudited working capital was approximately $23 million

Douglas Forster, president and CEO of Newmarket, commented:

Newmarket achieved a third consecutive year of record gold production and exceeded 2015 guidance with a total of 222,671 ounces, led by record production from our flagship Fosterville Gold Mine. Newmarket’s disciplined approach to safety, maximizing value through production and operating efficiencies, and the optimization of capital spending across all our mine sites, combined with a weaker Australian dollar, contributed to record low full year consolidated costs. Operating cash costs of $704 per ounce sold and consolidated AISC of $987 per ounce sold were in line with the lower end of full year 2015 revised cost guidance. Operationally, we are extremely pleased with the continued strong results achieved at Fosterville as the contribution from the high-grade, visible gold-bearing Eagle Fault discovery continues to drive record production and a record increasing grade profile. Our focus on operational execution at Cosmo resulted in improved contractor performance during the fourth quarter and at Stawell we continued to execute well with consistent production while advancing our new Aurora B gold discovery.

Click here to read the full Newmarket Gold Inc. (TSX:NMI,OTCQX:NMKTF) press release.