New Found Gold Declares Commercial Production at Hammerdown Gold Mine - TMX Newsfile

AI desk brief

New Found Gold declared commercial production at its 100%-owned Hammerdown mine in Newfoundland after 60 consecutive days meeting throughput, recovery and feed-grade targets. Over that period, the operation averaged about 748 tpd, 87.7% gold recovery and 2.92 g/t feed grade; management now expects a 20,000-25,000 oz/yr run rate at roughly US$2,500/oz AISC.

Hammerdown produced 9,140 oz in the first eight months of 2026, including 1,989 oz in August, at an average realized price of $6,271/oz (about US$4,532/oz). The PEA cited after-tax NPV5% of $199.2M at the base gold price deck and $415.1M at US$5,000/oz, while the company also outlined mill expansion work at Pine Cove to 1,400 tpd and continued drilling/resource work.