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.
New Gold Inc. (TSX: NGD) (NYSE American: NGD) has appointed Richard O'Brien as Chair of the Board, effective August 1, 2024. This follows his appointment to the Board of Directors on March 25, 2024. Ian Pearce will retire from the Board on the same date, after eight years of service. O'Brien expressed gratitude for Pearce's dedication and assistance during the transition period. He emphasized that New Gold is well-positioned to leverage its significant free cash flow period, aiming to become a leading intermediate gold producer. CEO Patrick Godin acknowledged Pearce's support and guidance, noting that his experience will serve as a foundation for the company's future success.
New Gold (NGD) reported Q2 2024 results, with gold production of 68,598 ounces and copper production of 13.6 million pounds, aligning with plans. Operating expenses were $1,156 per gold ounce sold (co-product basis) and all-in sustaining costs (AISC) were $1,381 per gold ounce sold (by-product basis). The company generated $100 million in cash from operations and $20 million in free cash flow. New Gold has entered a period of sustained free cash flow generation.
Notably, New Afton performed well with low AISC, and Rainy River advanced its open pit operations. Consolidated production guidance for 2024 remains 310,000-350,000 ounces of gold and 50-60 million pounds of copper at AISC of $1,240-$1,340 per gold ounce sold (by-product basis). The company completed an agreement with Ontario Teachers' Pension Plan, increasing its free cash flow interest in New Afton to 80.1%.
Revenues increased to $218.2 million, driven by higher metal prices and copper sales. Net earnings were $53.1 million, significantly up from a loss of $2.6 million in Q2 2023. Adjusted net earnings were $17 million, up from $11.6 million year-on-year.
New Gold Inc. (TSX: NGD) (NYSE American: NGD) has appointed Christian Milau to its Board of Directors, effective immediately. Milau brings over 25 years of experience in finance, capital markets, and mining. His notable roles include:
- CEO of Equinox Gold (2016-2022), leading five M&As and significant growth
- CEO of True Gold Mining (2015-2016)
- CFO of Endeavour Mining (2011-2015)
- VP, Treasurer at New Gold (2008-2011)
Currently, Milau is the CEO and founder of Saudi Discovery Company, a private copper exploration firm. He also serves on several corporate boards. Nick Chirekos, Chair of the Corporate Governance and Nominating Committee, expressed confidence in Milau's ability to contribute to New Gold's transition to a significant free cash flow generator and its future as a leading intermediate gold producer.
New Gold Inc. (TSX: NGD) (NYSE American: NGD) has announced the resumption of operations at its Rainy River Mine in northwestern Ontario. The mine resumed operations during the day shift on Saturday, July 27th, 2024, following a brief suspension due to an employee fatality reported on July 24th. The company confirmed that no other equipment or site infrastructure was impacted by the incident.
New Gold is actively supporting authorities with their investigation into the tragic event. The company emphasized that the health, safety, and wellbeing of its employees remain its top priority. Management expressed their continued thoughts for the family, friends, and colleagues affected by this unfortunate incident.
New Gold Inc. (TSX: NGD) (NYSE American: NGD) reported a fatal accident at its Rainy River Mine in northwestern Ontario on July 24, 2024. An employee operating equipment in the open pit was fatally injured. The company has voluntarily suspended operations and is cooperating with local authorities in an ongoing investigation. New Gold emphasizes that the health, safety, and wellbeing of its employees is its top priority. Management has expressed condolences to the family, friends, and colleagues affected by this tragic incident. The company will provide updates as more information becomes available.
New Gold announced it will release its Q2 2024 operational and financial results on July 30, 2024, after market close. The company is set to hold an earnings conference call and webcast on July 31, 2024, at 8:30 am ET. Participants can listen via the company's website or by calling specified numbers. A recorded playback will be available until August 31, 2024.
On June 4, 2024, New Gold (TSX: NGD, NYSE American: NGD) published its 2023 Environmental, Social, and Governance (ESG) Reports along with its Task Force on Climate-Related Financial Disclosures Report. The company highlighted significant achievements in 2023, including a 4% reduction in scope 1 and 2 greenhouse gas emissions from 2022, a 50% reduction in water withdrawal, and a decrease in the total recordable injury frequency rate (TRIFR) to 0.80. Indigenous employees now make up 25% of the workforce. Additionally, New Gold contributed over C$1 million to non-governmental agencies, charities, and research institutions. The company also closed a strategic partnership with Ontario Teachers' Pension Plan, increasing its free cash flow interest in the New Afton Mine to 80.1%.
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+.
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