Van Eck Files Schedule 13G/A for 52.2M New Gold Shares (6.6%)

Rhea-AI Filing Summary

Van Eck Associates Corporation reports beneficial ownership of 52,231,781 common shares of New Gold Inc., representing 6.60% of the class (CUSIP 644535106). The filing shows Van Eck has sole voting power over 52,005,683 shares and sole dispositive power over 52,231,781 shares. The issuer's principal office is listed in Toronto.

The statement is an amended Schedule 13G (Amendment No. 18) and includes a certification that the position is held in the ordinary course of business and not for the purpose of changing or influencing control. The form is signed by Ashley Sousa on 08/14/2025 and cites an event date of 06/30/2025.

Positive

• Clear disclosure of beneficial ownership: 52,231,781 shares (6.60%) reported
• Sole voting and dispositive power disclosed for the majority of the reported shares (52,005,683 voting; 52,231,781 dispositive)

Negative

• None.

Insights

Financial Analyst

Van Eck holds a material passive stake—6.6%—in New Gold, disclosed via Schedule 13G/A.

Owning 52.23 million shares and reporting sole voting and dispositive power signals a meaningful position that meets SEC disclosure thresholds for institutional investors. The filing's certification that the shares are held in the ordinary course and not to influence control categorizes this as passive ownership rather than an activist or control-seeking move. For investors, the key facts are the size of the stake and the declared passive intent; there is no indication in the filing of plans to change corporate control or pursue strategic action.

Corporate Governance Expert

Schedule 13G/A shows a disclosed, certified passive holding above the 5% reporting threshold.

The amendment (No. 18) documents Van Eck's sole voting power over 52,005,683 shares and sole dispositive power over 52,231,781 shares while explicitly certifying ordinary-course holdings and no intent to influence control. From a governance perspective, the filing provides transparency on who can vote significant shares but does not allege coordination or a control objective. The disclosure enables shareholders and the issuer to monitor a substantial institutional stake without signaling imminent governance actions.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 18)

New Gold Inc. /FI

(Name of Issuer)

Common Shares

(Title of Class of Securities)

644535106

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 644535106

1

Names of Reporting Persons

VAN ECK ASSOCIATES CORP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 52,005,683.00
6	Shared Voting Power
7	Sole Dispositive Power 52,231,781.00
8	Shared Dispositive Power

9

Aggregate Amount Beneficially Owned by Each Reporting Person

52,231,781.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.6 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: New Gold Inc. /FI
(b)	Address of issuer's principal executive offices: 181 BAY STREET, SUITE 3320, TORONTO, Canada (Federal Level), M5J 2T3
Item 2.
(a)	Name of person filing: Van Eck Associates Corporation
(b)	Address or principal business office or, if none, residence: 666 Third Ave, 9th Floor, New York NY 10017
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: 644535106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 52,231,781
(b)	Percent of class: 6.60 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 52,005,683
	(ii) Shared power to vote or to direct the vote:
	(iii) Sole power to dispose or to direct the disposition of: 52,231,781
	(iv) Shared power to dispose or to direct the disposition of:
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

VAN ECK ASSOCIATES CORP

Signature:	Ashley Sousa
Name/Title:	Ashley Sousa, AVP, Van Eck Associates Corporation
Date:	08/14/2025

FAQ

How many New Gold (NGD) shares does Van Eck own?

Van Eck Associates Corporation reports beneficial ownership of 52,231,781 common shares of New Gold (NGD).

What percentage of New Gold does Van Eck own?

The filing shows Van Eck owns 6.60% of the outstanding common shares.

What voting and dispositive powers does Van Eck have over NGD shares?

Van Eck has sole voting power over 52,005,683 shares and sole dispositive power over 52,231,781 shares.

Is Van Eck seeking to influence control of New Gold?

The certification in the Schedule 13G/A states the position is held in the ordinary course of business and not for the purpose of changing or influencing control.

What filing was submitted and when was it signed?

An amended Schedule 13G (Amendment No. 18) was submitted; the signature on the form is dated 08/14/2025 and the event date cited is 06/30/2025.