New Dawn Mining Corp (TSE:ND) announced Tuesday it more than doubled both its quarterly gold production and sales, as gold prices continue to rise.
For the three months ending June 30, the junior miner reported consolidated production of 6,841 ounces of the yellow metal. After adjusting for minority interests, 6,355 ounces of gold were attributable to New Dawn.
This represents a 111% increase over gold produced in the same period last year, which was 3,243 ounces, and a 9.9% increase over the previous quarter, ending March 31, which produced 6,226 ounces of gold.
The Zimbabwe-focused, Toronto, Ontario-based company, which said it will report its financial results for the period on or before August 15, posted gold sales for the period totaling US $9.8 million, or $9.2 million when adjusted, at an average gold price of US $1,516 per ounce of gold.
Compared to the year-ago period, gold sales increased 176% from US $3.5 million, at $1,194 per ounce of gold, while also increasing 22.7% over the previous quarter's sales of US $8.0 million.
New Dawn, whose stock spiked 16.67% to trade at $1.40 per share, also said it has 1,847 ounces of gold inventoried, awaiting sale.