New Gold Stock Price, News & Analysis

New Gold (TSX: NGD) announced an update on its Rainy River Mine following heavy rainfall and flooding in the Fort Frances area during Q2 2022. The company reported that it produced approximately 41,000 gold equivalent ounces in July and August, aligning with its annual guidance of 230,000 to 250,000 ounces. Mining activities in the open pit have ramped up significantly, achieving a daily average of 21,000 ore tonnes, a 70% increase from Q2. The first stope in the Intrepid underground zone was blasted on September 13, marking a crucial advancement.

New Gold Inc. (NGD) reported significant drill results from its New Afton Mine's underground exploration program, highlighting continuous mineralization in the East Extension. Assay results revealed higher gold (up to 3.18 g/t) and copper (up to 4.93%) grades compared to current reserves (0.67 g/t Au and 0.74% Cu). The program aims to extend mine life and resource estimates, with a total of 38,084 metres drilled across 115 holes. Further drilling is planned, focusing on additional targets and promising areas, indicating potential for increased higher-grade reserves at low development costs.

New Gold Inc. (NGD) reported its second quarter results for 2022, with gold equivalent production of 70,514 ounces and an all-in sustaining cost of $2,373 per gold equivalent ounce. The company faced challenges due to heavy rainfall impacting operations, leading to a net loss of $38 million. Cash generated from operations stood at $37 million. The operational outlook for 2022 has been revised, reducing gold equivalent production guidance to 325,000 - 365,000 ounces. Despite these challenges, the company has successfully reduced its debt by $100 million and maintains a cash position of $277 million.

New Gold Inc. (NGD) released its second quarter operational results for 2022, noting that operations at the Rainy River Mine faced significant challenges due to extreme rainfall, leading to a reduction in mined ore and lower gold production. The revised guidance indicates a production expectation of 230,000 to 250,000 ounces of gold equivalent, down from 265,000 to 295,000 ounces. Operating expenses and all-in sustaining costs have also increased significantly due to inflationary pressures. The New Afton Mine encountered similar issues, impacting copper production.

New Gold Inc. (TSX: NGD) has completed the redemption of its remaining outstanding $100 million 6.375% Senior Notes due 2025. This redemption was funded using cash on hand. Following this transaction, the company holds approximately $326 million in cash and maintains a strong liquidity position of about $702 million. New Gold operates two core producing assets in Canada: the Rainy River gold mine and the New Afton copper-gold mine. The company also has a 5% equity stake in Artemis Gold Inc.

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.