New Found Gold declares commercial production at Hammerdown Mine - Mining.com.au

AI desk brief

New Found Gold has declared commercial production at Hammerdown after meeting 60-day criteria: average throughput of 748 tpd, 87.7% gold recovery and 2.92 g/t feed grade, all above threshold. Hammerdown produced 9,140 oz in the first eight months of 2026, with average realised sales of US$6,271/oz, and the company targets 20,000-25,000 oz/yr at AISC of about US$2,500/oz.

The project’s PEA outlines a 13-year open-pit operation processing 3.2Mt at 2.89 g/t Au, with after-tax NPV of US$199.2m at base case gold and US$415.1m at US$5,000/oz. The company also said crusher/sorter construction remains on track for Q4 2026 completion and Pine Cove conversion/expansion to 1,400 tpd is planned for Q4 2027.