New Gold: Rainy River schedule, capital cost estimate 'in line' with plan
New Gold provides an update on the construction of the company's Rainy River project, located in northwestern Ontario. Both the project schedule and capital cost estimate remain in line with New Gold's current plan. Rainy River August highlights: The process plant underwent a successful closed loop mill test run with low grade ore; Ball mill and SAG mill tested successfully up to nameplate capacity; The mining rate during July averaged over 125,000 tonnes per day and accelerated to an average of over 135,000 tonnes per day in August; Water management pond is complete; All process facilities are mechanically complete Ball mill, SAG mill and the leach carbon-in-pulp process circuits are fully commissioned. Consistent with New Gold's plan, the company should begin processing ore in mid-September. The estimated development capital cost from the beginning of this year to the targeted November 2017 commercial production remains $515M.