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New Gold Inc (NGD) is a Canadian-focused intermediate mining company specializing in gold, copper, and silver production. This page aggregates all official press releases, financial disclosures, and operational updates directly from the company.
Investors gain access to critical information including quarterly earnings reports, mine production results, and exploration program updates. Track strategic developments like resource expansion projects, sustainability initiatives, and leadership changes through verified primary sources.
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New Gold announced the voting results from its Annual General Meeting held on May 3, 2022. All nominees for the Board of Directors were elected with significant support, receiving between 95.52% and 99.58% of votes in favor. Renaud Adams received 99.42% support, while Ian Pearce had the lowest with 95.52%. The complete voting results, including votes withheld, can be found in the Report of Voting Results on SEDAR. New Gold, focused on responsible mining, operates the Rainy River and New Afton mines and holds a stake in Artemis Gold Inc.
New Gold reports Q1 2022 results with gold equivalent production of 87,696 ounces, including 68,101 ounces of gold. Operating expenses were $1,029 per gold eq. ounce, while all-in sustaining costs reached $1,778 per gold eq. ounce. The average realized gold price was $1,897 per ounce, generating $68 million in cash from operations. However, the company faced a net loss of $8 million, primarily due to unrealized losses on derivatives. Cash reserves stood at $432 million, indicating financial stability amidst operational challenges.
New Gold Inc. (TSX: NGD) released its first quarter operational results for 2022, reporting total gold equivalent production of 87,696 ounces, down from 96,026 ounces in Q1 2021. Gold production increased to 68,101 ounces compared to 66,650 ounces a year prior. The company's Rainy River operation experienced production growth despite challenges related to COVID-19 and weather. A technical report extended Rainy River's mine life to 2031, with additional 569,000 gold ounces added to reserves. Financial results will be released on May 2, 2022.
New Gold Inc. (TSX: NGD, NYSE American: NGD) announced the redemption of its remaining $100 million aggregate principal amount of 6.375% Senior Notes due 2025. The redemption is scheduled for May 15, 2022 and will be funded using cash on hand. This move aligns with New Gold's strategy to optimize its capital structure and reduce interest costs. The company operates core assets in Canada, including the Rainy River and New Afton mines, and maintains a commitment to environmental and social responsibility.
New Gold announces an extension of the Rainy River Mine's life to 2031, following the filing of a Technical Report. This report confirmed the conversion of 569,000 gold ounces to Mineral Reserves, supporting a total production of 2,524,612 ounces of gold. The updated plan aims for an average annual production of 310,000 ounces from 2022 to 2027, with all-in sustaining costs reducing significantly post-2023. The mining approach will optimize selective mining and processing strategies to enhance productivity and cost-efficiency.
New Gold Inc. (TSX: NGD, NYSE American: NGD) has appointed Patrick Godin as Executive Vice President and Chief Operating Officer, effective May 2, 2022. Godin, with over 30 years of experience in the mining sector, previously served as COO at Pretium Resources, where he managed the Brucejack Mine. His background also includes leadership roles at Stornoway Diamond Corp., overseeing the construction of Quebec's first diamond mine. President & CEO Renaud Adams noted Godin's extensive expertise will be crucial for advancing operations at the Rainy River and New Afton mines.
New Gold released its 2021 results, reporting a significant achievement in gold and copper production. The fourth quarter production totaled 111,574 gold equivalent ounces, while the yearly total reached 418,933 ounces. Cash generated from operations was $106 million in Q4 and $324 million for the year. The company successfully converted 569,000 underground gold ounces to Mineral Reserves, enhancing its financial position with a cash balance of $482 million. Despite challenges in 2021, operational excellence and cost management were highlighted as key focuses for 2022.
New Gold Inc. (NGD) reported its operational results for Q4 and FY 2021. Total production for Q4 reached 111,574 gold equivalent ounces, meeting the updated guidance. Annual production was 418,933 gold eq. ounces, within the guidance range of 405,000 to 450,000 ounces. The Rainy River Mine produced 70,500 gold eq. ounces in Q4, while the New Afton Mine contributed 41,074 gold eq. ounces. A conference call to discuss Q4 and FY results will be held on February 23, 2022.
New Gold Inc. (TSX: NGD, NYSE American: NGD) has successfully completed the sale of its gold stream on the Blackwater Project in British Columbia to Wheaton Precious Metals Corp. for US$300 million. This transaction is part of New Gold's divestiture strategy, following the sale of Blackwater to Artemis Gold Inc. on August 21, 2020. New Gold continues to focus on its core assets, including the Rainy River gold mine and the New Afton copper-gold mine, alongside maintaining a 5% stake in Artemis Gold Inc.
New Gold Inc. (NGD) has announced a definitive agreement to sell its existing gold stream on the Blackwater Project to Wheaton Precious Metals Corp. for US$300 million. The agreement represents a significant step in New Gold's strategy to enhance liquidity and financial capacity. Wheaton will acquire 8% of gold production from Blackwater, decreasing to 4% after 280,000 ounces are delivered. The transaction is expected to close by the end of 2021, with financial backing from Scotiabank and legal support from Davies Ward Phillips & Vineberg LLP.