New Found Gold achieves commercial production milestone - Resource World Magazine

AI desk brief

New Found Gold has declared commercial production at its Hammerdown gold mine in Newfoundland after meeting its 60-day test criteria: average throughput of about 748 tpd, 87.7% gold recovery and 2.92 g/t feed grade, versus a 700 tpd nameplate mill. The company said Hammerdown produced 9,140 oz in the first eight months of 2026, including 1,989 oz in August, and the stock rose 8.0% to $2.43 on the news.

Management said the milestone keeps the project on track and supports the next step in its plan to convert and expand the Pine Cove mill to 1,400 tpd to process both Hammerdown and Queensway material. The average realized gold price for the period was US$4,532/oz, underscoring strong margin support for the asset.