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 (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.
Content categories cover production milestones, cost management updates, environmental compliance achievements, and corporate governance matters. All materials adhere to financial reporting standards, providing reliable data for investment research and market analysis.
Bookmark this page for streamlined access to NGD's latest communications. Return regularly to stay informed about operational performance and strategic positioning in the precious metals sector.
On May 29, 2024, New Gold announced significant exploration results from its New Afton mine in British Columbia, Canada. The latest underground drilling in the K-Zone revealed high-grade copper-gold porphyry mineralization, intersecting bornite-rich zones over 200 meters in strike length and up to 40 meters in true width. Key findings include 2.01% copper and 1.79 g/t gold over 217 meters, with higher grades in specific intervals.
The new data highlight the potential for a new mining zone near existing infrastructure, further extending the mine's life. The exploration drift, scheduled for completion in June, will accelerate drilling in the eastern part of the mine. New Gold aims to provide further updates later this year.
New Gold (TSX: NGD, NYSE American: NGD) has completed a US$173 million 'bought deal' equity financing, issuing 100,395,000 common shares at $1.72 each. This includes 13,095,000 shares from the full exercise of the underwriters' over-allotment option. The offering, managed by CIBC Capital Markets and others, raised gross proceeds of $172,679,400. The funds will be used to finance a cash payment for New Gold's strategic partnership with Ontario Teachers' Pension Plan Board, increasing its free cash flow interest in the New Afton mine to 80.1%.
New Gold announced the results of its Board of Directors election at the Annual General Meeting held on May 14, 2024. Patrick Godin was re-elected with 99.53% of votes. Other directors like Thomas McCulley and Margaret Mulligan also received strong support.
The appointment of the auditor received 84.52% approval, and the 'Say on Pay' advisory vote saw a 98.84% approval rate. Detailed voting results can be found on SEDAR+.
New Gold has increased its free cash flow interest in the New Afton copper/gold mine to 80.1% by acquiring an additional stake from Ontario Teachers’ Pension Plan, which now holds a 19.9% interest. The $255 million transaction will be funded through cash on hand, credit facility borrowings, and proceeds from a $150 million bought deal equity financing. The move is expected to boost free cash flow through enhanced production and cost-efficiency. The financing involves issuing 87.3 million shares at $1.72 each, potentially expandable by 15%. The transaction is set to close by the end of May 2024.
New Gold Inc. reports first quarter 2024 results with 70,898 gold ounces and 13.3 million pounds of copper produced, tracking annual guidance. Growth projects on track, aiming at increasing production over the next three years. Exploration efforts ramp up for sustainable production objectives.
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