New Gold Stock Price, News & Analysis

New Gold announces an extension of the Rainy River Mine's life to 2031, following the filing of a Technical Report. This report confirmed the conversion of 569,000 gold ounces to Mineral Reserves, supporting a total production of 2,524,612 ounces of gold. The updated plan aims for an average annual production of 310,000 ounces from 2022 to 2027, with all-in sustaining costs reducing significantly post-2023. The mining approach will optimize selective mining and processing strategies to enhance productivity and cost-efficiency.

New Gold Inc. (TSX: NGD, NYSE American: NGD) has appointed Patrick Godin as Executive Vice President and Chief Operating Officer, effective May 2, 2022. Godin, with over 30 years of experience in the mining sector, previously served as COO at Pretium Resources, where he managed the Brucejack Mine. His background also includes leadership roles at Stornoway Diamond Corp., overseeing the construction of Quebec's first diamond mine. President & CEO Renaud Adams noted Godin's extensive expertise will be crucial for advancing operations at the Rainy River and New Afton mines.

New Gold released its 2021 results, reporting a significant achievement in gold and copper production. The fourth quarter production totaled 111,574 gold equivalent ounces, while the yearly total reached 418,933 ounces. Cash generated from operations was $106 million in Q4 and $324 million for the year. The company successfully converted 569,000 underground gold ounces to Mineral Reserves, enhancing its financial position with a cash balance of $482 million. Despite challenges in 2021, operational excellence and cost management were highlighted as key focuses for 2022.

New Gold Inc. (NGD) reported its operational results for Q4 and FY 2021. Total production for Q4 reached 111,574 gold equivalent ounces, meeting the updated guidance. Annual production was 418,933 gold eq. ounces, within the guidance range of 405,000 to 450,000 ounces. The Rainy River Mine produced 70,500 gold eq. ounces in Q4, while the New Afton Mine contributed 41,074 gold eq. ounces. A conference call to discuss Q4 and FY results will be held on February 23, 2022.

New Gold Inc. (TSX: NGD, NYSE American: NGD) has successfully completed the sale of its gold stream on the Blackwater Project in British Columbia to Wheaton Precious Metals Corp. for US$300 million. This transaction is part of New Gold's divestiture strategy, following the sale of Blackwater to Artemis Gold Inc. on August 21, 2020. New Gold continues to focus on its core assets, including the Rainy River gold mine and the New Afton copper-gold mine, alongside maintaining a 5% stake in Artemis Gold Inc.

New Gold Inc. (NGD) has announced a definitive agreement to sell its existing gold stream on the Blackwater Project to Wheaton Precious Metals Corp. for US$300 million. The agreement represents a significant step in New Gold's strategy to enhance liquidity and financial capacity. Wheaton will acquire 8% of gold production from Blackwater, decreasing to 4% after 280,000 ounces are delivered. The transaction is expected to close by the end of 2021, with financial backing from Scotiabank and legal support from Davies Ward Phillips & Vineberg LLP.

New Gold Inc. (TSX: NGD) provides an update regarding the impact of severe weather, specifically heavy rains and flooding, in British Columbia, affecting transportation routes to its New Afton Mine. As of now, the flooding has not materially impacted the mine's infrastructure or operations. The company is closely monitoring the situation and assessing any potential effects on production, sales, or costs, dependent on the disruption's duration. The safety of employees and contractors remains a top priority.

New Gold Inc. (NGD) announced its Q3 2021 results, reporting total production of 105,628 gold eq. ounces with revenues of $180 million. The company expects to meet its updated gold equivalent production guidance of 405,000 to 450,000 ounces. All-in sustaining costs decreased by over 9% from H1 2021. However, it faced a net loss of $11 million attributable to unrealized losses despite adjusted earnings of $23 million. Cash generated from operations reached $54 million, with strong year-to-date revenue growth of 22% compared to 2020.

New Gold Inc. (NGD) announced its third quarter operational results as of September 30, 2021, reporting a total production of 105,628 gold equivalent ounces, down from 115,536 ounces in Q3 2020. The Rainy River Mine produced 60,785 gold equivalent ounces, facing challenges due to grade reconciliation issues. The company expects improved production in Q4 with an updated guidance of 240,000 to 255,000 gold equivalent ounces. Liquidity improved to $477 million, with a cash position of $151 million. Financial results will be released on November 12, 2021.