Welcome to our dedicated page for New Gold news (Ticker: NGD), a resource for investors and traders seeking the latest updates and insights on New Gold stock.
New Gold Inc. (TSX: NGD, NYSE American: NGD) is an intermediate gold mining company focused on Canada. With a strong commitment to environmental stewardship and social responsibility, the company operates two primary assets: the Rainy River Mine and the New Afton Mine, both in Canada. Additionally, New Gold holds other strategic investments within Canada.
The company's asset portfolio includes the Rainy River gold mine located in Ontario and the New Afton copper-gold mine in British Columbia. Each mine is integral to New Gold's strategy of becoming a leading diversified intermediate gold producer. The Rainy River mine has both open pit and underground operations, while the New Afton mine is a block cave mining operation with significant copper output, enhancing the company's revenue stream. The company's projects are renowned for their operational excellence and high sustainability standards.
Recent Achievements and Financials
In the latest quarter, New Gold produced 70,898 ounces of gold and 13.3 million pounds of copper. This strong performance aligns with their operational outlook and positions the company to achieve sustained free cash flow beginning in the second half of 2024. The comprehensive financial results also show the company’s strategic growth initiatives nearing completion, setting the stage for increased production and reduced costs in the coming years.
Strategic Initiatives
- New Gold is advancing the Rainy River underground Main project, expecting to achieve first ore by the end of 2024.
- The New Afton C-Zone block cave project is anticipated to reach commercial production in the latter half of 2024.
- Exploration efforts at both sites aim to extend mine life beyond 2030, supporting the company’s goal of maintaining a sustainable production platform of approximately 600,000 gold equivalent ounces per year until at least 2030.
Partnerships and Corporate Developments
On the corporate front, New Gold recently closed a “bought deal” equity financing, raising over $172 million. This funding will support its strategic partnership with Ontario Teachers' Pension Plan at the New Afton mine, increasing New Gold’s effective free cash flow interest to 80.1%.
As New Gold continues to develop its core assets and explore for additional resources, the company remains focused on delivering sustainable value to its shareholders and maintaining high operational standards.
New Gold Inc. (NGD) has reported its fourth quarter and full year 2024 results, demonstrating strong cost discipline and operational performance. The company achieved full-year production of 298,303 gold ounces at all-in sustaining costs of $1,239 per gold ounce, beating the low end of their guidance range.
Fourth quarter production reached 80,438 ounces of gold and 14.5 million pounds of copper, with all-in sustaining costs of $1,018 per gold ounce, marking the lowest cost quarter of 2024. The company generated $22 million in free cash flow during Q4 while investing $65 million in growth projects.
Notable achievements include generating $85 million in free cash flow for 2024, delivering C-Zone commercial production at New Afton, and achieving first ore from Rainy River underground ahead of schedule. The company ended the year with $105 million in cash after repaying the remaining $50 million outstanding on their credit facility.
New Gold Inc. (NGD) announced mine life extensions at both New Afton and Rainy River mines, with updated technical reports and a three-year operational outlook. Key highlights include:
At New Afton, copper and gold reserves increased by 15% and 13% respectively. The C-Zone expansion and new East Extension zone are driving growth, with copper production expected to reach 95-115 million pounds by 2027, a 94% increase from 2024.
At Rainy River, the Phase 5 expansion extends open pit mining to 2028, maintaining mill capacity until 2029. Gold production is projected to average 300,000 ounces annually over the next three years.
The company expects consolidated gold production to increase by 16% to 325,000-365,000 ounces in 2025. All-in sustaining costs are projected to decrease by 17% to $1,025-$1,125 per ounce. Total capital expenditure for 2025 is estimated at $270-315 million.
New Gold Inc. (TSX/NYSE American: NGD) announced that Yohann Bouchard has stepped down from his position as Executive Vice President and Chief Operating Officer, effective January 31, 2025. Bouchard, who joined the company in April 2023, contributed to achieving significant milestones and helped advance operations through the free cash flow inflection point in mid-2024.
President & CEO Patrick Godin acknowledged Bouchard's contributions and expressed enthusiasm about presenting New Gold's operational outlook and updated technical reports later in February 2025, focusing on maximizing future free cash flow generation.
New Gold Inc. (NGD) reports its highest production quarter of 2024, with Q4 consolidated production reaching 80,438 ounces of gold and 14.5 million pounds of copper. This represents a 2% and 20% increase over the prior-year period, respectively.
New Afton exceeded its gold production guidance, producing 19,652 ounces of gold and 14.5 million pounds of copper in Q4, marking a 19% increase in gold and 15% increase in copper production over Q3. The facility achieved commercial production at C-Zone ahead of schedule.
Rainy River produced 60,786 ounces of gold in Q4 but faced operational challenges in December due to mechanical issues with the crushing system. The company's 2024 consolidated gold production of 298,303 ounces fell slightly below the updated guidance of 300,000-310,000 ounces, while copper production of 54.0 million pounds hit the midpoint of initial guidance.
New Gold reports strong Q3 2024 results with production of 78,369 gold ounces and 12.6 million pounds of copper. Operating expenses were $1,021 per gold ounce sold, with all-in sustaining costs of $1,195 per gold ounce. The company achieved record quarterly results including $252 million in revenue, $128 million in operating cash flow, and $57 million in free cash flow.
The company updated its 2024 outlook, expecting gold production of 300,000-310,000 ounces (down from 310,000-350,000), while copper production remains on track at 50-60 million pounds. Cost performance remains strong with all-in sustaining costs trending toward the low end of guidance at $1,240-$1,340 per gold ounce.
New Gold Inc (TSX/NYSE: NGD) announced two major milestones: commercial production achievement at New Afton's C-Zone and first ore extraction from Rainy River Underground Main, both ahead of schedule. At New Afton, the C-Zone's materials handling system and gyratory crusher are now operational, with 18 draw bells constructed, targeting processing rates of 14,500 tonnes per day by 2026. At Rainy River, Underground Main development has commenced, aiming for 5,500 tonnes per day production by 2027. The company completed key infrastructure including the main fresh air raise and in-pit portal in Q3. Both projects are expected to drive significant production growth and cost reduction.
New Gold Inc. (TSX: NGD) (NYSE American: NGD) has announced the release date for its third quarter 2024 operational and financial results. The results will be made public after market close on Tuesday, October 29, 2024. Following this, the company will host an earnings conference call and webcast on Wednesday, October 30, 2024 at 8:30 am Eastern Time.
Interested parties can participate in the webcast by registering on New Gold's website or via a provided link. For those preferring to listen via phone, toll-free numbers are available for North American callers. A recorded playback of the conference call will be accessible until November 30, 2024, and an archived webcast will be available on the company's website.
New Gold Inc. (TSX: NGD) (NYSE American: NGD) has announced continued growth at its New Afton mine's K-Zone and HW Zone in British Columbia, Canada. Exploration drilling in the eastern part of the mine has intersected high-grade copper-gold porphyry mineralization, highlighting the potential for a new high-grade mining area. Key highlights include:
- K-Zone drilling: 2.83% copper and 1.90 g/t gold over 84 meters in Borehole EA24-510
- HW Zone drilling: 1.05% copper and 1.08 g/t gold over 51 meters in Borehole EA24-506
- Additional $3 million allocated to the 2024 New Afton exploration program
- Objective to report initial mineral resources at K-Zone for year-end 2024
The company aims to optimize net asset value with modest investment and leverage existing infrastructure.
New Gold Inc. (TSX: NGD) (NYSE American: NGD) has announced positive results from its ongoing exploration program at the Rainy River mine. The drilling campaign has expanded mineralization in both open pit and underground zones, supporting potential mineral resource growth. Key highlights include:
- Underground drilling extended gold mineralization along strike at Intrepid and down-plunge at ODM East and 17-East zones, with intercepts up to 6.09 g/t gold over 1.5 meters.
- New gold mineralization discovered between Intrepid and Underground Main, grading 3.59 g/t gold over 4.50 meters.
- Near-surface drilling confirmed continuity of mineralization at NW-Trend and 280 Zone, with intercepts up to 4.15 g/t gold over 18.0 meters.
Based on these results, New Gold has increased its 2024 Rainy River exploration budget by $3 million to $12 million to follow up on high-priority targets. The company expects these findings to positively impact year-end mineral resource estimates and provide a foundation for future exploration.
New Gold Inc. (TSX: NGD) (NYSE American: NGD) has appointed Sophie Bergeron and Ross Bhappu to its Board of Directors, strengthening its leadership team. Sophie Bergeron brings over 20 years of mining experience, currently serving as Managing Director, Diamonds for Rio Tinto Iron and Titanium and Diamonds. She has a strong background in operations, project management, and sustainability. Ross Bhappu contributes more than 30 years of experience in mining, specializing in overseeing and financing mining projects. He is currently a Senior Strategic Advisory Partner at Resource Capital Funds (RCF).
These appointments aim to enhance New Gold's operational discipline, safety focus, and technical and financial expertise. The company expects these additions to accelerate its strategy of becoming a leading intermediate gold producer.
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