ESG

Newlox to 'stay the course' and produce doré

Costa Rica operation continues

Staff reporter

This article is 5 years old. Images might not display.

Editor's Note: Mining Journal is making some of its most important coverage of the COVID-19 pandemic freely available to readers. For more coverage, please see our COVID-19 hub. To subscribe to Mining Journal, click here

The company describes itself as an environmental remediation company, receiving tailings from artisanal mining and selling precious metals at a discount of 3% or less from the spot gold price.

It started commercial operations at Ora Roca in June 2019 and said gold production had continued uninterrupted.

"In these trying times, it is important for Newlox to continue its work," president Ryan Jackson said.

"The COVID-19 pandemic is not only causing physical harm to people's health but is also harming their livelihoods."

He said the plant had an open-air format and was "ideally suited" to physical distancing while at work.

"Therefore, we have decided to stay the course and continue to support our employees, stakeholders, and investors," he said.

Newlox outlined plans in March for a second mill.

It said it had signed a letter of intent with a local artisanal gold mining group, with Newlox to design, construct and deploy a mercury-free milling facility to provide social, environmental, and economic benefits to all stakeholders in the region.

Newlox reported sales of C$307,648 in the nine months to December 31.

It had $32,944 in cash and a working capital deficiency of $942,835 at the end of 2019, according to its latest MD&A filed in March.

Its shares have ranged from 3c-11c over the past year and last traded at 4c, capitalising it at $3.1 million (US$2.2 million).

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

Mining Journal Intelligence: Investor Sentiment Report 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.

editions

Mining Journal Intelligence World Risk Report 2024 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 117 jurisdictions globally, assessed across six risk categories and an industrywide survey.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.