Newmarket's Q2 Gold Production at 55,998 Ounces

Newmarket Gold Inc. (TSX:NMI) announced its financial results for Q2 and H1 2015, commenting that during Q2 it put out 55,998 ounces of gold. That’s up 3.7 percent from the year-ago period.
Other Q2 highlights include:

• Record low operating cash costs of $681 per ounce sold, a 29.4% decrease vs. Q2/14, below full-year 2015 guidance of $780-$860 per ounce sold.
• All-in sustaining cash costs (“AISC”) per ounce sold of $1,037, a 21.2% decrease vs. Q2/14, with an average realized gold price of $1,196 in Q2/15.
• Revenue of $66.0 million based on 55,154 ounces sold.
• Increased operating cash flow to $27.1 million, up 4.9% from Q2/14.
• Net income of $12.1 million, or $0.10 earnings per share*, vs. $3.9 million, or $0.01 earnings per share* in Q2/14. H1 2015 net income of $27.8 million, or $0.24 earnings per share.*
• Cash and gold bullion balance of $38.8 million and working capital of $25.1 million.
• Completed merger between Newmarket Gold and Crocodile Gold establishing a new, sustainable 200,000 plus ounce gold producer. An exceptional operations team combined with a senior management team and board of directors, with a proven track record of superior value creation and ability to leverage deep capital markets and mining sector relationships, will continue to execute on a gold asset consolidation strategy creating significant shareholder value.

Douglas Forster, president and CEO of Newmarket, commented:

Looking ahead, we will continue to advance on our growth exploration programs, while monitoring movements in the gold price, to ensure we achieve our top priority of resource growth to support future sustainable production and continued positive cash flow generation. We also look forward to executing on our growth strategy through the acquisition of new opportunities that will be accretive to our business with the goal of creating significant value for shareholders.

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