New Gold Inc. - NGD STOCK NEWS

New Gold Inc. (TSX: NGD) has revised its 2021 operational outlook for the Rainy River Mine, expecting gold equivalent production to be between 240,000 and 255,000 ounces, a reduction from the previous forecast of 275,000 to 295,000 ounces. This adjustment stems from lower gold grades in the East Lobe area, which contributed to approximately 20,000 fewer ounces produced in July and August. Consolidated gold equivalent production guidance is now anticipated to be between 405,000 and 450,000 ounces. All-in sustaining costs are projected to range from $1,415 to $1,495 per ounce.

New Gold reported second quarter results as of June 30, 2021, achieving total production of 105,705 gold equivalent ounces, including 66,989 ounces of gold. Revenues reached $198 million with an operating expense of $913 per gold equivalent ounce. Despite a $16 million net loss for the quarter, adjusted net earnings were $27 million. Free cash flow was $21 million, while cash and liquidity positions stood at $138 million and $464 million, respectively. Outlook for the second half indicates potential production challenges at Rainy River due to lower than expected gold grades.

New Gold Inc. (NGD) announced its second quarter operational results, reporting total production of 105,705 gold equivalent ounces as of June 30, 2021. Key highlights include production of 66,989 ounces of gold and an increase in mining rates at New Afton by over 30%. The company holds a cash position of $138 million and a liquidity position of $464 million. The Rainy River mine is expected to improve production in the second half of the year due to transitioning to higher-grade areas. The next financial results release is scheduled for August 11, 2021.

New Gold Inc. (NGD) has announced significant exploration updates for the New Afton Mine, targeting new copper-gold mineralization based on a 2020 AI study. Underground drilling on the AI West target yielded impressive results, including 25.2 g/t gold over 2 meters. Surface drilling along the Cherry Creek trend returned 21 g/t gold over 1 meter. A robust drilling program is underway, with further drilling planned at AI Southeast and Cherry Creek. These developments may indicate potential extensions of known mineralization and the discovery of new deposit types.

New Gold Inc. (NYSE American: NGD) expresses deep sorrow over the discovery of remains of 215 children at a former residential school in Kamloops. President and CEO Renaud Adams extends condolences to the affected communities, particularly the Tk'emlúps te Secwépemc Nation. The company emphasizes its commitment to fostering a healthy future for Indigenous peoples in Canada, acknowledging historical traumas. New Gold operates two main producing assets, the Rainy River and New Afton mines, and holds interests in other Canadian projects.

New Gold Inc. (NGD) announced the issuance of the Mines Act permit for the B3 zone, a critical milestone for the New Afton Mine. With the permit secured, ore extraction will commence this quarter and accelerate throughout the year. The development of the C-Zone is also progressing, with extraction anticipated in the second half of 2023. The company aims to establish itself as a leading diversified intermediate gold entity, focusing on responsible mining practices. Additional details can be found on New Gold's website.

On May 5, 2021, New Gold announced the voting results from its Annual General Meeting held on May 4, 2021. The Company appointed Geoff Chater and Thomas McCulley to its Board of Directors. Chater, a geologist with vast international experience, and McCulley, a seasoned leader in mining projects, bring valuable expertise to the Board. During the meeting, all director nominees received significant shareholder approval, with votes for Chater at 99.64% and for McCulley at 99.68%. This strategic expansion of leadership comes as New Gold aims to advance its growth phase.

New Gold reported its first quarter results for 2021, showing gold equivalent production of 96,026 ounces and revenues of $165 million, up from $142.3 million in Q1 2020. Net earnings were $15 million ($0.02 per share), reflecting an increase due to higher gold and copper prices. Operating expenses rose to $1,022 per gold equivalent ounce. Despite challenges from a mud rush incident and lower sales volume, the company remains on track for guidance, focusing on operational optimization and financial flexibility.

New Gold Inc. (NGD) reports three positive COVID-19 cases among employees at the Rainy River Mine in Ontario, with seven additional non-negative tests pending confirmation. All affected individuals have been isolated. The company emphasizes its comprehensive COVID-19 response plan, prioritizing employee and community health. Operations at the mine continue, and the company is working closely with the Northwestern Health Unit for updates. New Gold maintains strict protocols to mitigate COVID-19 spread and collaborates with local Indigenous communities.