15 WWWNEW G O L D C O M TSXNGD NY SE Am er ic an NG D New Afton Mine British Columbia Canada The Ne w Afton mine is lo cated n ear K a mloop s a ci ty of appro x i m ately 900 0 0 people in south central British Colum b ia A summa ry o f New Aftons operatin g re sults is p r ovi d e d belo w 1 Product i on is shown on a t o t a l cont ained bas is while sales are shown o n a net payabl e basis including f i nal product invent ory and s m elt e r pay able adjust m ent s where applicable 2 The Company uses certain nonG AAP financial performance measures throughout this MD A Total cash costs and allin sustaining c ost s per gold ounce so ld t o t a l cash cost s and allin sust aining cos t s on a coproduct basis average realiz ed price operat ing margin and capit a l expendit u res sust a ini ng capit a l sust aining leases and growt h c apit a l ar e nonGAAP financial performance meas ures with no s t andard meaning under IFRS For fu rther information and a detail ed reconciliat ion please ref e r t o t he NonG A A P F i nancia l Perf ormance Measures sect ion of t h is MD A 3 G o ld eq ounces includ e silver ounces and co p per ounces produce d or sold convert ed t o a gol d eq based on a rat i o o f 1 500 per gold ou nce 17 75 per silver ounc e and 2 85 per copper pound T h roughout t he year t he Co m pany will report gold equivalent ounces usi ng a const ant rat i o of t hose prices Three mont hs ended March 31 in millions of U S dolla rs except where not ed 202 0 201 9 OPERAT IN G IN FORM AT ION Ore m i ned t ho us a nds of ton nes 1 42 4 1 38 2 Ore proc es s ed t h ous an ds of t o n nes 1 39 9 1 32 8 Av erage grad e Gold gr a mstonn e 045 050 Copper 073 080 Recovery rate Gold 81 83 Copper 82 83 Gold e q ounc es 1 4 Produc e d 52 3 29 60 9 86 Sold 50 3 98 63 2 16 Gold o unc es 1 Produc e d 16 4 09 17 8 41 Sold 15 9 91 18 6 17 Copper m illi ons o f po unds 1 Produc e d 185 195 Sold 177 202 Rev enue Gold ou n ce 1 35 1 1 21 5 Copper p ou nd 236 256 Av erage r eal iz ed pric e 2 Gold ou n ce 1 46 4 1 32 7 Copper p ou nd 256 279 Operati ng ex pe ns es per g o l d e q o u n c e s o ld o unc e 3 655 468 Deprec iat i o n a nd dep leti on per go ld eq ounc e 334 630 Total c a s h c o s t s p e r go ld eq s o ld ounc e 2 3 762 578 Allin s u s t ain i ng c o s t s per g o ld eq s o ld o unc e 2 3 1 03 3 714 FINAN CIAL I N F O RMAT I O N Rev enue 645 754 Operati ng m a r g in 2 316 458 Rev enue les s c o s t of g o o d s s o ld 150 63 Capit a l ex p e n d itur es s us taini ng c a pi tal 2 129 79 Capit a l ex p e n d itur es growth c a pit a l 2 108 26