NEW GOLD ADVISES OF SENIOR MANAGEMENT CHANGE

Rhea-AI Summary

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.

Positive

• Company reached free cash flow inflection point in mid-2024
• Upcoming presentation of operational outlook and updated technical reports

Negative

• Departure of Executive VP and COO creates leadership gap
• Management instability with COO leaving after less than 2 years

TORONTO, Feb. 3, 2025 /PRNewswire/ - New Gold Inc. ("New Gold" or the "Company") (TSX:NGD) (NYSE American: NGD) wishes to advise that Mr. Yohann Bouchard and the Company have mutually decided to part ways. Mr. Bouchard's last day as Executive Vice President and Chief Operating Officer was January 31, 2025. New Gold thanks Mr. Bouchard for his contribution and wishes him well with his future endeavors.  

"I thank Yohann for his contribution to New Gold during his tenure," stated Patrick Godin, President & CEO. "Since joining the Company in April 2023, we achieved significant milestones and successfully advanced our operations through the free cash flow inflection point in mid-2024. With this transition, it creates for us an opportunity for new operational leadership. I am excited to present New Gold's operational outlook and updated technical reports later this month and illustrate our ability to maximize our free cash flow generation in the years to come."

About New Gold 

New Gold is a Canadian-focused intermediate mining Company with a portfolio of two core producing assets in Canada, the Rainy River gold mine and the New Afton copper-gold mine. New Gold's vision is to build a leading diversified intermediate gold company based in Canada that is committed to the environment and social responsibility. For further information on the Company, visit www.newgold.com. 

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SOURCE New Gold Inc.

FAQ

When did Yohann Bouchard leave his position as COO at New Gold (NGD)?

Yohann Bouchard's last day as Executive Vice President and Chief Operating Officer at New Gold was January 31, 2025.

When did New Gold (NGD) reach its free cash flow inflection point?

New Gold reached its free cash flow inflection point in mid-2024.

When will New Gold (NGD) present its new operational outlook and technical reports?

New Gold will present its operational outlook and updated technical reports later in February 2025.

How long did Yohann Bouchard serve as COO at New Gold (NGD)?

Yohann Bouchard served as COO from April 2023 until January 31, 2025, approximately 21 months.