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. news covers the former Canadian-focused intermediate mining company and its portfolio of two core producing assets: the New Afton copper-gold mine and the Rainy River gold mine. Recurring updates included gold and copper production, mine operating performance, financial results, free cash flow measures, capital-structure matters, governance items, and shareholder voting.
Company news also documents New Gold's completed plan of arrangement, under which a subsidiary of Coeur Mining acquired all issued and outstanding New Gold shares. Subsequent developments relate to the change in New Gold's public-company status after the transaction.
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New Gold Inc. (TSX: NGD, NYSE: NGD) reported its Q1 2023 results, marking a 20% rise in gold equivalent production to 104,857 ounces, including 82,477 ounces of gold. The company generated $61 million in cash from operations ($0.09/share), despite a net loss of $32 million ($0.05/share). Operating expenses were $1,086 per gold equivalent ounce, while all-in sustaining costs were $1,486 per ounce. Average realized prices stood at $1,890/ounce for gold and $4.10/pound for copper. Significant financial actions were taken, including selling shares in Artemis Gold for approximately C$31.5 million and extending a credit facility to December 2026. The company also announced leadership changes, with CFO Rob Chausse set to retire at the end of 2023.
New Gold Inc. (TSX: NGD, NYSE American: NGD) has announced key senior management appointments aimed at enhancing its leadership and operational capabilities. Yohann Bouchard has been appointed as Executive Vice President and Chief Operating Officer, bringing over 25 years of experience from his previous role at Yamana Gold. Ankit Shah has been promoted to Executive Vice President, Strategy and Business Development, having played a crucial role in the company's strategic transformation. Additionally, Luke Buchanan and Jean-François Ravenelle have been appointed Vice Presidents of Technical Services and Geology, respectively. The appointments are expected to bolster New Gold's goals of increasing production and achieving sustained free cash flow. Management expresses confidence in the team’s ability to drive operational excellence and growth.
New Gold (AMEX: NGD) announced strong operational results for Q1 2023, achieving gold equivalent production of 104,857 ounces, a 20% increase from Q1 2022. The performance includes record production at the Rainy River Mine, with gold equivalent production of 67,596 ounces, up from 59,895 ounces year-over-year. The New Afton Mine also showed improvement, producing 37,261 ounces of gold equivalent, compared to 27,800 ounces in Q1 2022. Copper production increased to 10.3 million lbs, up from 8.2 million lbs. New Gold plans to release its Q1 2023 financial results on April 26, 2023, and will hold a conference call on April 27, 2023. The company is well-positioned to meet its annual production guidance.
New Gold Inc. (TSX: NGD) has released its fourth quarter and full year 2022 results, reporting total production of 97,824 gold equivalent ounces in Q4 and 347,054 ounces for the year. The company achieved updated annual guidance for all metals, with a net loss of $17 million in Q4 and $67 million for 2022. Operating expenses were $1,140 per gold equivalent ounce for Q4 and $1,116 for the year, both below guidance. For 2023, New Gold projects a 10% production increase and lower costs, aiming for a total production of 365,000 to 425,000 ounces. Year-end Mineral Reserves total 3.3 million ounces of gold and 607 million pounds of copper.