Vancouver-based gold miner New Gold Inc. (TSX:NGD) boosted revenue 44% to $127.1 million in the third quarter of 2010 thanks to increased gold sales and a higher average realized gold price during the year.
Earnings from mine operations increased 107% to $46.7 million from $22.6 million in 2009.
New Gold is currently constructing the New Afton mine near Kamloops.
“We are very pleased by delivering another strong quarter and how well New Gold is positioned today,” said the company’s executive chairman Randall Oliphant in a release Thursday. “We have a fully-funded company with a foundation of three operations combined with two exciting organic growth projects in New Afton and El Morro.
"With the continued strength of the underlying commodity market, we look forward to New Gold’s continued cash flow growth in the coming years.”
New Gold’s share price during the past week: between $7.06 and $7.96; 52-week high: $8.38; 52-week low: $3.18.