New Found Gold reports Q3 2026 results and begins commercial production at Hammerdown
New Found Gold Corp. announced its Q3 2026 financial and operating results, highlighting the start of commercial production at its 100%-owned Hammerdown Gold Mine on August 19, 2026. The quarter generated 4,863 ounces of gold, $41.6 million of revenue and an EBITDA of $13.1 million, but the company posted a net loss of $7.1 million due to elevated cash costs of $2,887 per ounce and AISC of $3,279 per ounce. Management also released a revised preliminary economic assessment for the Queensway project, showing an after‑tax NPV5% of $1.728 billion and an IRR of 126% at a $3,600 per ounce gold price.
Why it matters
The company’s transition to a producer adds revenue and cash flow but cost pressures compressed margins, leading to a share price decline of about 7% on the earnings release (investing.com). The strong Queensway economics provide a future growth catalyst and may support further capital raising or project funding.
Key facts
- 1Commercial production at Hammerdown began on August 19, 2026, with Q3 output of 4,863 ounces of gold. finanznachrichten.de
- 2Q3 2026 revenue was $41.6 million from the sale of 6,935 ounces of gold at an average realized price of US$4,285 per ounce. finanznachrichten.de
- 3Cash costs were US$2,887 per ounce and all‑in sustaining costs (AISC) were US$3,279 per ounce for the quarter. finanznachrichten.de
- 4Net loss for Q3 2026 was $7.1 million ($0.02 per share), compared with a loss of $12.9 million in Q3 2025. finanznachrichten.de
- 5Operating cash flow before working‑capital changes was $11.2 million and cash and cash equivalents stood at $167.1 million at quarter‑end. finanznachrichten.de
- 6Revised Queensway PEA shows after‑tax NPV5% of $1.728 billion and after‑tax IRR of 126% at a base‑case gold price of US$3,600 per ounce. finanznachrichten.de
Summary written by AlphAI AI Desk from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.