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. (TSX: NGD, NYSE: NGD) reported its Q1 2023 results, marking a 20% rise in gold equivalent production to 104,857 ounces, including 82,477 ounces of gold. The company generated $61 million in cash from operations ($0.09/share), despite a net loss of $32 million ($0.05/share). Operating expenses were $1,086 per gold equivalent ounce, while all-in sustaining costs were $1,486 per ounce. Average realized prices stood at $1,890/ounce for gold and $4.10/pound for copper. Significant financial actions were taken, including selling shares in Artemis Gold for approximately C$31.5 million and extending a credit facility to December 2026. The company also announced leadership changes, with CFO Rob Chausse set to retire at the end of 2023.
New Gold Inc. (TSX: NGD, NYSE American: NGD) has announced key senior management appointments aimed at enhancing its leadership and operational capabilities. Yohann Bouchard has been appointed as Executive Vice President and Chief Operating Officer, bringing over 25 years of experience from his previous role at Yamana Gold. Ankit Shah has been promoted to Executive Vice President, Strategy and Business Development, having played a crucial role in the company's strategic transformation. Additionally, Luke Buchanan and Jean-François Ravenelle have been appointed Vice Presidents of Technical Services and Geology, respectively. The appointments are expected to bolster New Gold's goals of increasing production and achieving sustained free cash flow. Management expresses confidence in the team’s ability to drive operational excellence and growth.
New Gold (AMEX: NGD) announced strong operational results for Q1 2023, achieving gold equivalent production of 104,857 ounces, a 20% increase from Q1 2022. The performance includes record production at the Rainy River Mine, with gold equivalent production of 67,596 ounces, up from 59,895 ounces year-over-year. The New Afton Mine also showed improvement, producing 37,261 ounces of gold equivalent, compared to 27,800 ounces in Q1 2022. Copper production increased to 10.3 million lbs, up from 8.2 million lbs. New Gold plans to release its Q1 2023 financial results on April 26, 2023, and will hold a conference call on April 27, 2023. The company is well-positioned to meet its annual production guidance.
New Gold Inc. (TSX: NGD) has released its fourth quarter and full year 2022 results, reporting total production of 97,824 gold equivalent ounces in Q4 and 347,054 ounces for the year. The company achieved updated annual guidance for all metals, with a net loss of $17 million in Q4 and $67 million for 2022. Operating expenses were $1,140 per gold equivalent ounce for Q4 and $1,116 for the year, both below guidance. For 2023, New Gold projects a 10% production increase and lower costs, aiming for a total production of 365,000 to 425,000 ounces. Year-end Mineral Reserves total 3.3 million ounces of gold and 607 million pounds of copper.
New Gold Inc. (NGD) announced updated production guidance and operational results for Q4 and FY 2022. The company successfully met its revised production targets, achieving gold eq. production of 347,054 ounces and copper production of 31.1 million lbs for the year. Notably, Rainy River Mine reported a 25% increase in grades, while New Afton ramped up production to 8,000 tonnes per day ahead of schedule. The company's financial results for Q4 2022 and a 2023 operational outlook will be released on February 16, 2023. CEO Patrick Godin highlighted resilience amid 2022 challenges.
New Gold Inc. (NGD) reported its Q3 2022 results with a gold equivalent production of 91,021 ounces, a decrease from 105,628 ounces in Q3 2021. The company faced an operating expense of $1,069 per gold eq. ounce and all-in sustaining costs of $1,637. A net loss of $4 million was recorded, with an adjusted net loss of $13 million. Cash generated from operations totaled $54 million, or $0.08 per share. The company continues to ramp up production from Rainy River and New Afton, focusing on B3 production and completing C-Zone development in 2023.
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