| | Published : August 05th, 2011 | New Gold Announces 2011 Second Quarter Results with Gold Sales of 95,039 Ounces at Total Cash Cost(1 |
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NEW GOLD ANNOUNCES 2011 SECOND QUARTER RESULTS WITH
GOLD SALES OF 95,039 OUNCES AT TOTAL CASH COST(1) OF
$354 PER OUNCE
08/03/2011
(All
figures are in US dollars unless otherwise indicated)
VANCOUVER, Aug.
3, 2011 /CNW/ - New Gold Inc. ("New Gold") (TSX:NGD)(NYSE AMEX:NGD) today announces financial and
operational results for the second quarter of 2011. The company finished the
second quarter with gold sales of 95,039 ounces at a total cash cost(1) per ounce sold, net of
by-product sales, of$354 per ounce. The company's ability to deliver
increased gold sales at lower costs along with the continued strength in
commodity prices resulted in another quarter of robust financial results.
During the quarter, the company's earnings from mine operations increased by
129% to $83 million with net earnings increasing to $79 million,
or $0.19 per share, while pre-tax cash generated from operations
increased by 96% to $88 million and net cash generated from
operations was $44 million.
New
Gold is also pleased to reiterate its production and cost guidance for
2011 with gold production of 380,000 to 400,000 ounces at total cash cost(1) per
ounce sold, net of by-product sales, of $390 to $410 per ounce. The
company believes that with the continued strength of silver and copper prices,
the total cash cost(1) may
be below the above noted cost range as it has been on a year-to-date basis.
New Gold Second Quarter Highlights
- Second
quarter total cash cost(1) per ounce sold, net of
by-product sales, decreased to $354 per ounce from $481 per
ounce in the same period in 2010
- Quarterly
gold sales increased by 15% to 95,039 from 82,403 in the same period in
2010
- Second
quarter net earnings of $79 million, or $0.19 per share
- First
caving-related blast successfully completed at New Afton connecting two
underground levels below the ore body
- $490
million of cash at June 30, 2011
- Completed
the acquisition of Richfield Ventures Corp. ("Richfield"),
and its flagship Blackwater Project inBritish Columbia on June 1, 2011
- Increased
the exploration program at the Blackwater
Project - targeting 40,000 to 50,000 metres
of drilling in the second half of 2011
"The
second quarter was particularly important in the continued evolution of New
Gold," stated Randall Oliphant, Executive Chairman. "Our
operating results further established our company as a low cost producer in the
industry, while development at New Afton and El Morro only helped add further
value to those projects. With this foundation, we were able to complete the
acquisition of Richfield, adding the exciting Blackwater
Projectwith its established gold resource base and
significant exploration potential to our pipeline, all while minimizing
dilution to our shareholders and maintaining our financial flexibility."
2011 Second Quarter
Operations Overview
New Gold 2011 Second Quarter Consolidated - Summary Operational
Results
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Three months ended
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Six months ended
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|
|
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June 30,
|
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June 30,
|
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2011
|
2010
|
|
2011
|
2010
|
Gold
|
|
|
|
|
|
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Sales (thousand ounces)
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95.0
|
82.4
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199.3
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162.4
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Production (thousand ounces)
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|
88.5
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89.9
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196.1
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167.1
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Average realized price ($ per ounce)
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$1,417
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$1,147
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$1,365
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$1,113
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|
|
|
|
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Silver
|
|
|
|
|
|
|
Sales (thousand ounces)
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|
602.3
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505.4
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1,188.1
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698.9
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Production (thousand ounces)
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|
520.4
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547.1
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1,155.7
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753.8
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Average realized price ($ per ounce)
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$38.85
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$18.38
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$35.78
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$18.02
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|
|
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Copper
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|
|
|
|
|
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Sales (million
pounds)
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3.6
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3.0
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7.5
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7.1
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Production (million
pounds)
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|
3.4
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4.0
|
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6.9
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8.0
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Average realized price ($ per pound)
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$4.05
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$3.09
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$4.12
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$3.26
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|
|
|
|
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Total cash cost(1) - net of
by-product sales ($ per ounce)
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$354
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$481
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$353
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$475
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Average realized margin ($ per ounce)
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$1,063
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$666
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$1,012
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$638
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Together,
the company's portfolio of three operating mines delivered yet another strong
quarter, while New Gold's three large exploration/development
projects each made significant progress. Operationally, while the Peak Mines
went through a challenging quarter as anticipated, Mesquite and Cerro San
Pedro especially performed very well, leading the group to a quarter of
increased gold sales at significantly lower total cash cost(1) resulting
in meaningful margin expansion for New Gold's shareholders.
New
Afton, the company's most immediate development project, continues its rapid
progression towards production less than 12 months from now. The second quarter
saw a number of milestones, two of which included the first caving-related
blast which connected two underground levels below the ore body and the
commencement of the installation of the processing equipment in the mill
building. At El Morro, after the Environmental Impact Assessment
("EIA") was received on March 16, 2011, the company's 70% partnerGoldcorp Inc. ("Goldcorp")
aggressively began work on the project's advancement including application for
additional permits, condemnation drilling, site plan optimization, detailed
engineering of infrastructure and contract negotiation with key suppliers. The
company's newest project, Blackwater, was added to
the portfolio on June 1, 2011. Since that time, New Gold has
increased the 2011 drill program, released the results for an additional 22
holes and has been working to upgrade the mine camp to facilitate the addition
of more drills while also building on a number of pre-established relationships
with the local First Nations, communities, governments and other regulatory
bodies.
"Our
second quarter was very active and importantly it demonstrated the capacity of
our various teams to deliver strong results in their respective areas,"
stated Robert Gallagher, President and Chief Executive Officer. "The
execution by our operating teams continues to underpin our ability to add value
by advancing our development assets and adding in new and exciting projects
such as Blackwater."
2011 Second Quarter Consolidated Financial Results
New Gold 2011 Second Quarter Consolidated - Summary Financial
Results
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Three months ended
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Six months ended
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Figures in US$ millions unless otherwise noted
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June 30,
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June 30,
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2011
|
2010
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2011
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2010
|
|
|
|
|
|
|
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Revenue
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|
171.6
|
112.4
|
|
342.8
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214.0
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Average realized gold price ($ per ounce)
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|
1,417
|
1,147
|
|
1,365
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1,113
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Average margin per ounce ($ per ounce)
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1,063
|
666
|
|
1,012
|
638
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Earnings from mine operations
|
|
83.5
|
36.5
|
|
164.0
|
73.3
|
|
|
|
|
|
|
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Net earnings/(loss) from continuing operations
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78.6
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(26.0)
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|
103.3
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(13.0)
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Net earnings/(loss) per share
|
|
0.19
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(0.07)
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|
0.25
|
(0.03)
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Adjusted net earnings/(loss) from continuing
operations
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49.8
|
14.1
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|
96.6
|
29.6
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Adjusted net earnings/(loss) per share
|
0.12
|
0.04
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|
0.24
|
0.08
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|
|
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Pre-tax cash generated from operations
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87.6
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44.6
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|
148.6
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76.6
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Net cash generated from operations
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44.0
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40.4
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|
93.7
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63.4
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As
a result of New Gold's strong operating results and the continued
strength in the underlying commodity prices, the company was able to realize
meaningful increases in virtually all financial categories. Increased gold
sales at higher average realized gold prices led to a 53% increase in revenue
during the second quarter of 2011. Importantly, the company was able to couple
this revenue growth with lower total cash cost(1) resulting in
a $397 per ounce increase in the average realized margin leading to a
129% increase in earnings from mine operations.
Net
earnings from continuing operations in the second quarter of 2011 grew
significantly to $79 million, or $0.19per share, after being in a net
loss position in the same period of 2010. Adjusted net earnings from continuing
operations(2) increased to $50
million, or $0.12 per share, during the quarter. Net earnings has
been adjusted and tax affected for the group of costs in "Other gains and
losses" on the condensed consolidated income statement. The most
significant adjustment is the fair value change of the company's share purchase
warrants and convertible debentures in the second quarter of 2011 which was a
pre-tax gain of $30 million, relative to a pre-tax loss of $29
million in the same period of the prior year. See the notes at the end of
the release for a reconciliation of Adjusted net
earnings.
Net
cash generated from operations increased by 9% to $44 million when
compared to the prior year quarter, however, cash flow in the quarter was
negatively impacted by a $20 million increase in cash taxes related
to the payment of the company's 2010 final tax liability, which had previously
been accrued, as well as an increase in the quarterly payments for 2011 instalments. The pre-tax cash generated from operations
increased by 96% in the second quarter of 2011 compared to the same period of
the prior year.
Mesquite
Mine Steadily Delivers Growth in Earnings from Mine Operations
Mesquite
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Three months ended
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Six months ended
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June 30,
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June 30,
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2011
|
2010
|
|
2011
|
2010
|
Gold
|
|
|
|
|
|
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Sales (thousand ounces)
|
|
34.6
|
38.8
|
|
85.0
|
88.3
|
Production (thousand ounces)
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|
33.8
|
38.8
|
|
82.6
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82.9
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|
|
|
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Average realized prices
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|
|
|
|
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Gold ($ per ounce)
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|
1,241
|
1,083
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1,240
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1,063
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|
|
|
|
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Total cash cost(1) ($ per ounce)
|
|
654
|
616
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|
588
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576
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|
|
|
|
|
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Earnings from mine operations ($ millions)
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15.2
|
9.4
|
|
44.0
|
26.8
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Gold
sales at Mesquite in the second quarter of 2011 and year-to-date period
remained relatively consistent with the prior year periods while the operating
team remained focused on cost control despite year-over-year input cost
pressures. By minimizing the impact of cost pressures on total cash cost(1) and through the increase
in the average realized gold price, Mesquite increased earnings from mine
operations by 62% to $15 millionduring the
second quarter of 2011. Similarly, in the first six months of 2011, earnings
from mine operations increased 64% to $44 million when compared to
the same period of the prior year.
Gold
production and sales during both the second quarter and year-to-date period
were marginally lower than the comparative prior year periods due to fewer ore tonnes being placed on the leach pad as mining temporarily
transitioned into an area of higher waste stripping. This was partially offset
by the continued benefit of higher grade ore being placed on the leach pad
during the second quarter of 2011 and year-to-date period. The change in total
cash cost(1) was primarily driven by the increases in waste tonnes moved and inputs costs, such as diesel fuel, and was
partially offset by increased operator efficiencies.
Cerro
San Pedro Mine Has Stellar Second Quarter and Start to 2011
Cerro San Pedro
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Three months ended
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Six months ended
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June 30,
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June 30,
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|
2011
|
2010
|
|
2011
|
2010
|
Gold
|
|
|
|
|
|
|
Sales (thousand ounces)
|
|
43.6
|
24.8
|
|
75.4
|
38.0
|
Production (thousand ounces)
|
|
39.7
|
29.4
|
|
75.3
|
42.4
|
|
|
|
|
|
|
|
Silver
|
|
|
|
|
|
|
Sales (thousand ounces)
|
|
602.3
|
505.4
|
|
1,188.1
|
698.9
|
Production (thousand ounces)
|
|
520.4
|
547.1
|
|
1,155.7
|
753.8
|
|
|
|
|
|
|
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Average realized prices
|
|
|
|
|
|
|
Gold ($ per ounce)
|
|
1,506
|
1,205
|
|
1,458
|
1,175
|
Silver ($ per ounce)
|
|
38.85
|
18.38
|
|
35.84
|
18.02
|
|
|
|
|
|
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Total cash cost(1) - net of
by-product sales ($ per ounce)
|
26
|
288
|
|
18
|
403
|
|
|
|
|
|
|
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Earnings from mine operations ($ millions)
|
55.7
|
14.7
|
|
90.1
|
17.9
|
Cerro
San Pedro has had a very strong start to 2011, with increases in gold
sales and decreases in total cash cost(1) in both the second
quarter and first six months of 2011 when compared to the same periods in 2010.
In the second quarter, the combination of a 76% increase in gold sales, a
decrease in total cash cost(1) per ounce of gold sold, net of
by-product sales, to $26 per ounce and the higher realized gold price
resulted in a 280% increase in earnings from mine operations to $56
million. For the six months ended June 30, 2011, with even more
significant increases in gold sales and decreases in total cash cost(1), Cerro
San Pedro increased earnings from mine operations by 402% to $90
million.
Gold
production and gold and silver sales during both the second quarter of 2011 and
year-to-date periods were higher than the comparative prior year periods due to
increased ore tonnes being placed on the leach pad in
the second quarter and first half of 2011. In 2010, Cerro San Pedro experienced
a delay in receiving its explosives permit which resulted in less ore tonnes being moved in the prior year periods. The benefit
of the additional ore tonnes in 2011 was partially
offset by lower gold and silver grades due to mine sequencing. The decrease in
total cash cost(1) in both
the second quarter of 2011 and year-to-date periods was a result of higher
by-product revenues driven by both higher silver sales and prices. This benefit
was partially offset by the appreciation of the Mexican peso relative to the
prior year periods.
Peak
Mines Through Challenging Quarter - Looks to Stronger
Second Half
Peak Mines
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Three months ended
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Six months ended
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June 30,
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June 30,
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|
2011
|
2010
|
|
2011
|
2010
|
Gold
|
|
|
|
|
|
|
Sales (thousand ounces)
|
|
16.8
|
18.8
|
|
38.9
|
36.2
|
Production (thousand ounces)
|
|
15.0
|
21.6
|
|
38.1
|
41.9
|
|
|
|
|
|
|
|
Copper
|
|
|
|
|
|
|
Sales (million
pounds)
|
|
3.6
|
3.0
|
|
7.5
|
7.1
|
Production (million
pounds)
|
|
3.4
|
4.0
|
|
6.9
|
8.0
|
|
|
|
|
|
|
|
Average realized prices
|
|
|
|
|
|
|
Gold ($ per ounce)
|
|
1,549
|
1,201
|
|
1,458
|
1,171
|
Copper ($ per pound)
|
|
4.05
|
3.09
|
|
4.12
|
3.26
|
|
|
|
|
|
|
|
Total cash cost(1) - net of
by-product sales ($ per ounce)
|
585
|
459
|
|
488
|
303
|
|
|
|
|
|
|
|
Earnings from mine operations ($ millions)
|
12.6
|
12.4
|
|
30.1
|
28.5
|
Gold
sales at Peak Mines in the second quarter of 2011 and year-to-date periods were
similar to the prior year periods, while copper sales increased. As a result of
the increases in average realized gold price, and despite the cost pressures
experienced in Australia, Peak Mines increased earnings from mine
operations moderately in both the second quarter of 2011 and year-to-date when
compared to the same periods of the prior year.
Gold
and copper production during the second quarter of 2011 were lower than the
prior year period as mine sequencing led to ore being sourced primarily from a
new zone. As anticipated, the ore from this zone generally contained lower
average gold grades with the mill also realizing lower recoveries of gold and
copper. The increase in total cash cost(1) during both the
second quarter of 2011 and year-to-date periods is driven by two primary
factors: the appreciation of the Australian dollar and the largely fixed cost
base being spread over lower gold ounces as a result of the lower grades and
recoveries. The copper production and continued strength of the copper price
continue to provide a meaningful offset to costs and provide for attractive
operating margins despite the relative increase in total cash cost(1).
New
Afton Development Moving Quickly - Close to 600 Workers on Site
New
Gold's most immediate development project continued on schedule during the
second quarter of 2011 with multiple areas of development and construction
being advanced or completed. Both the underground development work and surface
construction activities continue on schedule for the targeted mid-2012
production start. New Afton will be an underground mine and concentrator which
is expected to produce an annual average of 85,000 ounces of gold and 75
million pounds of copper at low operating costs.
New
Afton achieved an important milestone during the second quarter as the crews
successfully completed the first caving-related blast at the base of the ore
body. An area was drilled and blasted to connect the level at the base of the
ore body, referred to as the undercut level, with the level directly above it, referred to as the apex level. This first caving-related
blast proceeded as planned with crews now planning for the first drawbell blast, scheduled for the third quarter, which will
mark the official beginning of mine production and ore delivery to surface at
New Afton.
New Afton Second
Quarter Underground Highlights
- First
caving-related blast successfully completed connecting two underground
levels below the ore body
- 2,166 metres of underground advance completed
- Six
additional drawpoints mined on the extraction
level
- ~68,000
tonnes of ore moved to surface stockpile as at June
30, 2011
- Commenced
development of first ore pass from undercut to haulage level
- Commissioned
two vent raises adding significant ventilation
- Received
remaining equipment including longhole drills,
bolters and jumbos to complete underground development
New Afton Second
Quarter Surface Construction Highlights
- Completed
all civil works associated with coarse ore stockpile and reclaim tunnel
- Completed
tie-in to 138kV power line with materials mobilized for extension of line
to tailings storage facility
- Commenced
construction activities for tailings pipeline corridor and tailings pond
area
- Commenced
installation of processing equipment with associated structural steel
including conveyors and flotation cells
- Completed
construction of water storage tanks and commissioned water distribution
system
In
the second quarter of 2011, project spending at New Afton was $83 million,
including capitalized interest. On a year-to-date basis, project spending has
been $127 million, including capitalized interest.
In
addition to the significant progress being made at the site, negotiations
regarding the New Afton concentrate were also advanced during the quarter. The
off-take agreement for the last 15% of the estimated concentrate production was
finalized and is currently awaiting execution. The company also established an
agreement for storage of concentrate at the Vancouver wharves which,
similarly, has been completed and is now awaiting execution. Further, New
Gold has selected the counterparty it intends to use for the trucking of
concentrate from New Afton to the wharves and the negotiation of the agreement
has commenced.
The
company is very pleased with the continued progress at New Afton and looks
forward to additional milestones being achieved through the end of 2011 and
into 2012. With the remaining capital through the mid-2012 production start now
at approximately $260 million, New Gold continues to have a cash
balance well in excess of the remaining capital required. Once in production,
New Afton is expected to contribute significantly to New Gold's current
portfolio of operating assets driving gold production growth at lower costs. At
current commodity prices, the mine is expected to more than double the
company's cash flow.
El
Morro Lays Foundation for Successful Development
El
Morro is an advanced stage, world-class gold/copper project in northern Chile,
one of the most attractive mining jurisdictions in the world. New Gold is
a 30 percent partner in the project, with Goldcorp, the project developer
and operator, holding the remaining 70 percent. The project is located in the
Atacama region of Chileapproximately 80 kilometres east of the city of Vallenar
and comprises a large, 36-square kilometre land
package with significant potential for organic growth through further
exploration. Two principal zones of gold-copper mineralization have been
identified to date - the El Morro and La Fortuna zones - and several
additional targets have also been identified through a regional exploration
plan. Future exploration efforts will also test the potential for bulk-mineable
gold and copper production below the bottom of the current pit. Currently, New
Gold's attributable 30% share of proven and
probable reserves contains 2.6 million ounces of gold and 1.8 billion pounds of
copper.
During
the second quarter of 2011, Goldcorp worked to prepare the project
for development on numerous fronts.
El Morro Second
Quarter Highlights
- Completed
an 18-kilometre road linking existing access road to the property
- Commenced
condemnation drilling to verify infrastructure locations
- Commenced
application process for additional construction permits
- Continued
negotiations with potential providers of power and port facilities,
engineering of pipelines and equipment manufacturers of long lead time
items
- Continued
evaluation of optimum plant and other facility configuration - updated
feasibility study expected in third quarter of 2011
On
a 100% basis, capital expenditures, excluding capitalized interest, during the
three months ended June 30, 2011 amounted to $21 million, with
year-to-date expenditures totalling $32 million. Goldcorp is
responsible for funding New Gold's 30% share of capital costs.
As
disclosed on January 13, 2010, New Gold received a Statement of
Claim filed by Barrick Gold Corporation("Barrick") in the Ontario Superior Court of
Justice, against New Gold, Goldcorp and affiliated subsidiaries.
The claim relates to the transactions announced on January 7, 2010, the
ultimate completion of which resulted inNew Gold and Goldcorp becoming partners at
El Morro. Barrick also subsequently filed a motion to
amend its claim to add various Xstrata entities as defendants. The
trial started in June 2011 and is currently recessed, but will resume
in October 2011. New Gold continues to believe that the claim is
without merit.
Blackwater Acquisition Completed
- Aggressive Exploration Started
On June
1, 2011, New Gold closed the acquisition of Richfield thus adding the
exciting Blackwater Project to the
company's pipeline. Blackwater is located in central British
Columbia, with New Gold's share of the initial mineral resource
estimate including 1.8 million ounces of indicated gold resources and an
additional 2.0 million ounces of inferred gold resources. The company looks
forward to building on this initial resource and on June 15, 2011,New Gold announced an expanded drill program that will
see the company drill between 40,000 and 50,000 metres
in the second half of 2011.
Since
acquiring the project on June 1st, the company has been very
active in preparing for its continued exploration and development, highlights
of which include:
Blackwater Second Quarter Highlights
- Successfully
retained majority of geologic staff and consultant
- Established
site safety and environmental standards consistent with New Gold standards
- Commenced
implementation of sustainability program including proposed sourcing from
local communities and related discussions with local First Nations,
government and regulatory officials
- Added
fifth drill rig on June 15th
- Completed
over 6,200 metres of drilling in June (16 holes)
- Commenced
upgrade of 17-kilometre access road to site
- Commenced
camp expansion for accelerated drill program
- Continued environmental baseline program
- Continued
trade-off studies on potential locations for site facilities
- Identified
samples for further metallurgical test program
New
Gold looks forward to providing further updates on the Blackwater
exploration results through the third and fourth quarters as the deposit
remains open in all directions and at depth. The company is targeting an
updated resource estimate in early 2012.
Key
Financial Information
New
Gold's cash balance at June 30, 2011 was $490 million. The
company had $247 million of debt outstanding at the end of the second
quarter comprised of $185 million of 10% senior secured notes due in
2017 (face value of C$187 million), $46 million of 5%
convertible debentures due in 2014 (face value of C$55 million andC$9.35 strike
price) and $16 million in El Morro project funding loans.
2011
Outlook
Through
the first six months of 2011, New Gold has produced 196,100 ounces of
gold at total cash cost(1), net
of by-product sales, of $353 per ounce. New Gold is pleased
to reiterate its production and cost guidance for 2011 with gold production of
380,000 to 400,000 ounces at total cash cost(1) per
ounce sold, net of by-product sales, of $390 to $410 per ounce. The
combination of operational execution and the continued strength of silver and
copper prices have allowed the year-to-date total cash cost(1) to
be below the guidance range despite relative foreign exchange rates and
industry-wide cost inflation negatively impacting costs.
Looking
forward to the second half of 2011, the three operations should remain
relatively consistent with targeted increases in gold production from Peak
Mines offsetting any potential drop in production from Mesquite and Cerro
San Pedro. Depending on the relative movements of silver and copper prices
versus certain input costs and foreign exchange rates, total cash cost(1) are expected to be below
the guidance range thus offering shareholders superior margins. The company's
three exploration/development projects should continue to advance meaningfully
with multiple catalysts anticipated in the second half of 2011.
Conference
Call and Webcast
New
Gold will hold a conference call and webcast on Thursday, August 4th,
2011 at 10:00 am Eastern Daylight Time to
discuss the company's second quarter 2011 financial results. Participants may
join the conference by calling 1-647-427-7450 or
toll-free 1-888-231-8191 in North
America. To listen to a recorded playback of the call after the event, please
call 1-416-849-0833 or
toll-free 1-855-859-2056 in North
America - Passcode 85279963.
A
live and archived webcast will also be available at www.newgold.com.
About New Gold Inc.
New
Gold is an intermediate gold mining company. The company has a portfolio
of three producing assets and three significant development projects. The
Mesquite Mine in the United States, the Cerro San Pedro Mine inMexico and Peak Gold Mines in Australia are
expected to produce between 380,000 and 400,000 ounces of gold in 2011. The
fully-funded New Afton project in Canada is scheduled to add further
growth in 2012. In addition, New Gold owns
30% of the world-class El Morro project located in Chile and, in June
2011, New Goldacquired the exciting Blackwater project in Canada. For further information
on the company, please visitwww.newgold.com.
Cautionary
Note Regarding Forward-Looking Statements
Certain
information contained in this news release, including any information relating
to New Gold's future financial or operating performance may be deemed
"forward looking". All statements in this news release, other than
statements of historical fact, that address events or developments that New
Gold expects to occur, are "forward-looking statements".
Forward-looking statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects",
"does not expect", "plans", "anticipates",
"does not anticipate", "believes", "intends",
"estimates", "projects", "potential",
"scheduled", "forecast", "budget" and similar
expressions, or that events or conditions "will", "would",
"may", "could", "should" or "might"
occur. All such forward-looking statements are based on the opinions and
estimates of management as of the date such statements are made and are subject
to important risk factors and uncertainties, many of which are beyondNew Gold's ability to control or predict.
Forward-looking statements are necessarily based on estimates and assumptions
(including that the business of Richfield will be integrated successfully in
the New Goldorganization) that are inherently
subject to known and unknown risks, uncertainties and other factors that may
cause actual results, level of activity, performance or achievements to be
materially different from those expressed or implied by such forward-looking
statements. Such factors include, without limitation: significant capital
requirements; fluctuations in the international currency markets and in the
rates of exchange of the currencies of Canada, the United States, Australia, Mexico and Chile;
price volatility in the spot and forward markets for commodities; impact of any
hedging activities, including margin limits and margin calls; discrepancies
between actual and estimated production, between actual and estimated reserves
and resources and between actual and estimated metallurgical recoveries;
changes in national and local government legislation in Canada,the United States, Australia, Mexico and Chile or
any other country in which New Gold currently or may in the future
carry on business; taxation; controls, regulations and political or economic
developments in the countries in which New Gold does or may carry on
business; the speculative nature of mineral exploration and development,
including the risks of obtaining and maintaining the validity and
enforceability of the necessary licenses and permits and complying with the
permitting requirements of each jurisdiction that New Goldoperates,
including, but not limited to, Mexico, where New Gold is
involved with ongoing challenges relating to its environmental impact statement
for the Cerro San Pedro Mine; the lack of certainty with respect to the
Mexican and other foreign legal systems, which may not be immune from the
influence of political pressure, corruption or other factors that are
inconsistent with the rule of law; the uncertainties inherent to current and
future legal challenges the company is or may become a party to, including the
third party claim related to the El Morro transaction with respect to New
Gold's exercise of its right of first refusal on the El Morro copper-gold
project in Chile and its partnership with Goldcorp Inc., which
transaction and third party claim were announced by New Gold in January
2010; diminishing quantities or grades of reserves; competition; loss of key
employees; additional funding requirements; actual results of current
exploration or reclamation activities; changes in project parameters as plans
continue to be refined; accidents; labour disputes;
defective title to mineral claims or property or contests over claims to
mineral properties. In addition, there are risks and hazards associated with
the business of mineral exploration, development and mining, including
environmental hazards, industrial accidents, unusual or unexpected formations,
pressures, cave-ins, flooding and gold bullion losses (and the risk of
inadequate insurance or inability to obtain insurance to cover these risks) as
well as "Risk Factors" included in New Gold's disclosure
documents filed on and available at www.sedar.com. Forward-looking statements are not
guarantees of future performance, and actual results and future events could
materially differ from those anticipated in such statements. All of the
forward-looking statements contained in this news release are qualified by
these cautionary statements. New Gold expressly disclaims any
intention or obligation to update or revise any forward-looking statements,
whether as a result of new information, events or otherwise, except in
accordance with applicable securities laws.
Cautionary
Note to U.S. Readers Concerning Estimates of Measured, Indicated and Inferred
Mineral Resources
Information
concerning the properties and operations discussed herein has been prepared in
accordance with Canadian standards under applicable Canadian securities laws,
and may not be comparable to similar information for United States companies.
The terms "Mineral Resource", "Measured Mineral Resource",
"Indicated Mineral Resource" and "Inferred Mineral
Resource" used in this news release are Canadian mining terms as defined
in accordance with NI 43-101 under guidelines set out in the Canadian
Institute of Mining, Metallurgy and Petroleum ("CIM") Standards on
Mineral Resources and Mineral Reserves adopted by the CIM Council on December
11, 2005. While the terms "Mineral Resource", "Measured Mineral
Resource", "Indicated Mineral Resource" and "Inferred
Mineral Resource" are recognized and required by Canadian regulations,
they are not defined terms under standards of the United States Securities
and Exchange Commission. Under United States standards,
mineralization may not be classified as a "reserve" unless the
determination has been made that the mineralization could be economically and
legally produced or extracted at the time the reserve calculation is made. As
such, certain information contained in this news release concerning
descriptions of mineralization and resources under Canadian standards is not
comparable to similar information made public byUnited
States companies subject to the reporting and disclosure requirements of
the United States Securities and Exchange Commission. An "Inferred
Mineral Resource" has a great amount of uncertainty as to its existence
and as to its economic and legal feasibility. It cannot be assumed that all or
any part of an "Inferred Mineral Resource" will ever be upgraded to a
higher category. Under Canadian rules, estimates of Inferred Mineral Resources
may not form the basis of feasibility or other economic studies. Readers are
cautioned not to assume that all or any part of Measured or Indicated Resources
will ever be converted into Mineral Reserves. Readers are also cautioned not to
assume that all or any part of an "Inferred Mineral Resource" exists,
or is economically or legally mineable. In addition, the definitions of
"Proven Mineral Reserves" and "Probable Mineral Reserves"
under CIM standards differ in certain respects from the standards of the United
States Securities and Exchange Commission.
Technical
Information
The
scientific and technical information in this news release has been reviewed by Mark
Petersen, a Qualified Person under National Instrument 43-101 and employee of New
Gold.
(1)
TOTAL CASH COST
"Total cash cost" per ounce figures are calculated in accordance with
a standard developed by The Gold Institute, which was a worldwide
association of suppliers of gold and gold products and included leading North
American gold producers. The Gold Institute ceased operations in
2002, but the standard is widely accepted as the standard of reporting cash
cost of production in North America. Adoption of the standard is voluntary
and the cost measures presented may not be comparable to other similarly titled
measures of other companies. New Gold reports total cash cost on a
sales basis. Total cash cost includes mine site operating costs such as mining,
processing, administration, royalties and production taxes, but is exclusive of
amortization, reclamation, capital and exploration costs. Total cash cost is
reduced by any by-product revenue and is then divided by ounces sold to arrive
at the total by-product cash cost of sales. The measure, along with sales, is
considered to be a key indicator of a company's ability to generate operating
earnings and cash flow from its mining operations. This data is furnished to provide
additional information and is a non-IFRS measure. Total cash cost presented do
not have a standardized meaning prescribed by IFRS and may not be comparable to
similar measures presented by other mining companies. It should not be
considered in isolation as a substitute for measures of performance prepared in
accordance with IFRS and is not necessarily indicative of operating costs
presented under IFRS . A
reconciliation will be provided in the MD&A accompanying the
quarterly financial statements.
(2)
RECONCILIATION OF ADJUSTED NET EARNINGS FROM CONTINUING OPERATIONS
New Gold 2011 Second Quarter Consolidated - Adjusted Net Earnings
Reconciliation
|
|
Three months ended
|
|
Six months ended
|
Figures in US$ millions unless otherwise
noted
|
|
June 30,
|
|
|
June 30,
|
|
|
2011
|
2010
|
|
2011
|
2010
|
|
|
|
|
|
|
|
Net earnings/(loss) from continuing operations
|
78.6
|
(26.0)
|
|
103.3
|
(13.0)
|
Net earnings/(loss) per share
|
|
0.19
|
(0.07)
|
|
0.25
|
(0.03)
|
|
|
|
|
|
|
|
|
|
Adjustments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair value of derivative - Senior notes
|
(3.3)
|
1.3
|
|
(0.9)
|
(0.7)
|
|
Fair value of derivative - Warrants/Convertibles
|
(30.0)
|
29.3
|
|
(5.7)
|
39.4
|
|
|
Gain/(loss) on foreign exchange
|
|
1.1
|
6.3
|
|
(2.0)
|
5.0
|
|
|
Other
|
|
3.8
|
(0.3)
|
|
4.5
|
(2.6)
|
|
|
Tax impact of adjustments
|
|
(0.4)
|
3.6
|
|
(2.7)
|
1.5
|
|
|
(28.8)
|
40.1
|
|
(6.8)
|
42.6
|
|
|
|
|
|
|
|
Adjusted net earnings/(loss) from continuing
operations
|
49.8
|
14.1
|
|
96.6
|
29.6
|
Adjusted net earnings/(loss) per share
|
0.12
|
0.04
|
|
0.24
|
0.08
|
New Gold Inc.
|
|
|
|
|
|
|
Condensed consolidated income statements
|
|
|
|
|
|
Three and six month periods ended June 30,
|
|
|
|
|
(Expressed in thousands of U.S. dollars, except share and per share
amounts)
|
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
|
Three months ended
|
|
|
Six months ended
|
|
|
2011
|
2010
|
|
2011
|
2010
|
|
|
$
|
$
|
|
$
|
$
|
|
|
|
|
|
|
|
Revenues
|
|
171,635
|
112,359
|
|
342,848
|
213,979
|
Operating expenses
|
|
(70,943)
|
(57,173)
|
|
(141,659)
|
(109,059)
|
Depreciation and depletion
|
|
(17,194)
|
(18,706)
|
|
(37,221)
|
(31,669)
|
Earnings
from mine operations
|
|
83,498
|
36,480
|
|
163,968
|
73,251
|
|
|
|
|
|
|
|
Corporate administration expenses
|
|
(5,172)
|
(6,137)
|
|
(11,178)
|
(11,607)
|
Share-based payment expenses
|
|
(2,563)
|
(1,907)
|
|
(5,419)
|
(3,847)
|
Exploration and corporate development expenses
|
|
(4,033)
|
(3,017)
|
|
(6,334)
|
(4,986)
|
|
|
|
|
|
|
|
Income
from operations
|
|
71,730
|
25,419
|
|
141,037
|
52,811
|
|
Finance income
|
|
922
|
396
|
|
1,968
|
652
|
|
Finance costs
|
|
(1,520)
|
(289)
|
|
(2,657)
|
(847)
|
|
Other
gains and losses
|
|
28,420
|
(36,530)
|
|
4,022
|
(41,142)
|
|
|
|
|
|
|
|
Earnings
(loss) before taxes
|
|
99,552
|
(11,004)
|
|
144,370
|
11,474
|
Income
tax expense
|
|
(20,950)
|
(15,002)
|
|
(41,049)
|
(24,438)
|
|
|
|
|
|
|
|
Net earnings (loss) from continuing operations
|
|
78,602
|
(26,006)
|
|
103,321
|
(12,964)
|
Loss
from discontinued operations
|
|
-
|
(10,191)
|
|
-
|
(9,886)
|
Net earnings (loss)
|
|
78,602
|
(36,197)
|
|
103,321
|
(22,850)
|
|
|
|
|
|
|
|
Earnings (loss) per share from continuing operations
|
|
|
|
|
|
|
|
Basic
|
|
0.19
|
(0.07)
|
|
0.25
|
(0.03)
|
|
Diluted
|
|
0.16
|
(0.07)
|
|
0.25
|
(0.03)
|
|
|
|
|
|
|
|
Earnings (loss) per share from discontinued operations
|
|
|
|
|
|
|
|
Basic
|
|
-
|
(0.03)
|
|
-
|
(0.03)
|
|
Diluted
|
|
-
|
(0.03)
|
|
-
|
(0.03)
|
|
|
|
|
|
|
|
Earnings (loss) per share from continuing and discontinued operations
|
|
|
|
|
|
Basic
|
|
0.19
|
(0.09)
|
|
0.25
|
(0.06)
|
|
Diluted
|
|
0.16
|
(0.09)
|
|
0.25
|
(0.06)
|
|
|
|
|
|
|
|
Weighted average number of shares outstanding
|
|
|
|
|
|
|
(in thousands)
|
|
|
|
|
|
|
|
Basic
|
|
416,372
|
389,885
|
|
407,901
|
389,423
|
|
Diluted
|
|
428,763
|
389,885
|
|
420,063
|
389,423
|
New Gold Inc.
|
|
|
|
|
|
Condensed consolidated statements of financial position
|
(Expressed in thousands of U.S. dollars)
|
|
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
June 30
|
|
December 31
|
|
|
|
2011
|
|
2010
|
|
|
|
$
|
|
$
|
Assets
|
|
|
|
|
|
Current
assets
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
|
490,446
|
|
490,754
|
|
Trade and other receivables
|
|
|
25,398
|
|
11,929
|
|
Inventories
|
|
|
118,895
|
|
103,055
|
|
Prepaid
expenses and other
|
|
|
5,862
|
|
7,325
|
Total current assets
|
|
|
640,601
|
|
613,063
|
|
|
|
|
|
|
Investments
|
|
|
-
|
|
7,533
|
Mining
interests
|
|
|
2,375,677
|
|
1,767,240
|
Deferred
tax assets
|
|
|
18,800
|
|
10,058
|
Reclamation deposits and other
|
|
|
24,239
|
|
31,295
|
Total assets
|
|
|
3,059,317
|
|
2,429,189
|
|
|
|
|
|
|
Liabilities
|
|
|
|
|
|
Current
liabilities
|
|
|
|
|
|
|
Trade and other payables
|
|
|
71,560
|
|
69,245
|
|
Current
derivative liabilities
|
|
|
45,016
|
|
40,072
|
|
Current
non-hedged derivative liabilities
|
|
|
12,405
|
|
-
|
|
Current
tax liabilities
|
|
|
27,716
|
|
31,392
|
Total current liabilities
|
|
|
156,697
|
|
140,709
|
|
|
|
|
|
|
Reclamation and closure obligations
|
|
|
38,606
|
|
34,173
|
Provisions
|
|
|
14,661
|
|
9,227
|
Non-current derivative liabilities
|
|
|
106,553
|
|
113,303
|
Non-current non-hedged derivative liabilities
|
|
|
141,688
|
|
155,365
|
Deferred
tax liabilities
|
|
|
174,754
|
|
179,180
|
Long-term debt
|
|
|
246,692
|
|
229,884
|
Deferred
benefit
|
|
|
46,276
|
|
46,276
|
Other
|
|
|
651
|
|
577
|
Total liabilities
|
|
|
926,578
|
|
908,694
|
|
|
|
|
|
|
Equity
|
|
|
|
|
|
Common shares
|
|
|
2,347,620
|
|
1,845,886
|
Contributed surplus
|
|
|
78,897
|
|
81,176
|
Other
reserves
|
|
|
(42,445)
|
|
(51,913)
|
Deficit
|
|
|
(251,333)
|
|
(354,654)
|
|
|
|
(293,778)
|
|
(406,567)
|
Total equity
|
|
|
2,132,739
|
|
1,520,495
|
Total liabilities and equity
|
|
|
3,059,317
|
|
2,429,189
|
New Gold Inc.
|
|
|
|
|
|
|
Condensed consolidated statements of cash flows
|
|
|
|
|
Three and six month periods ended June 30,
|
|
|
|
|
(Expressed in thousands of U.S. dollars)
|
|
|
|
|
|
|
(Unaudited)
|
|
|
|
|
|
|
|
|
Three months
ended
|
|
Six months ended
|
|
|
2011
|
2010
|
|
2011
|
2010
|
|
|
$
|
$
|
|
$
|
$
|
Operating activities
|
|
|
|
|
|
|
|
Net earnings (loss)
|
|
78,602
|
(36,197)
|
|
103,321
|
(22,850)
|
|
Earnings
from discontinued operations
|
|
-
|
10,191
|
|
-
|
9,886
|
|
Adjustments for:
|
|
|
|
|
|
|
|
|
Unrealized gain on gold contracts
|
|
(2,208)
|
(2,089)
|
|
(4,210)
|
(4,165)
|
|
|
Unrealized loss on fuel contracts
|
|
-
|
118
|
|
-
|
183
|
|
|
Unrealized foreign exchange (gain) loss
|
|
1,134
|
6,321
|
|
(1,981)
|
4,952
|
|
|
Unrealized and realized gain on of investments
|
|
-
|
(948)
|
|
(1,349)
|
(4,892)
|
|
|
Unrealized (gain) loss on non-hedged derivatives
|
|
(30,036)
|
29,296
|
|
(5,681)
|
39,405
|
|
|
Loss on disposal of assets
|
|
144
|
1,019
|
|
252
|
1,417
|
|
|
Depreciation and depletion
|
|
17,218
|
18,692
|
|
36,855
|
31,762
|
|
|
Share-based payments
|
|
1,945
|
1,826
|
|
3,720
|
3,724
|
|
|
Unrealized (gain) loss on embedded derivative contract
|
|
(3,304)
|
1,255
|
|
(850)
|
(652)
|
|
|
Unrealized loss on cash flow hedging items
|
|
1,859
|
-
|
|
3,686
|
-
|
|
|
Income
tax expense
|
|
20,950
|
15,002
|
|
41,049
|
24,438
|
|
|
Finance income
|
|
(922)
|
(396)
|
|
(1,968)
|
(652)
|
|
|
Finance costs
|
|
1,520
|
289
|
|
2,657
|
847
|
|
|
86,902
|
44,379
|
|
175,501
|
83,403
|
|
Change in operating working capital
|
|
653
|
179
|
|
(26,948)
|
(6,771)
|
Cash generated from operations
|
|
87,555
|
44,558
|
|
148,553
|
76,632
|
|
Income
taxes paid
|
|
(43,582)
|
(4,154)
|
|
(54,818)
|
(13,274)
|
Net cash generated from operations
|
|
43,973
|
40,404
|
|
93,735
|
63,358
|
Cash used in discontinued operations
|
|
-
|
-
|
|
-
|
(1,696)
|
|
|
|
|
|
|
|
Investing activities
|
|
|
|
|
|
|
|
Mining
interests
|
|
(85,903)
|
(26,460)
|
|
(143,085)
|
(48,462)
|
|
Interest
paid
|
|
(11,147)
|
(10,295)
|
|
(11,412)
|
(10,501)
|
|
Recovery (contribution) of reclamation deposits
|
|
-
|
(2)
|
|
8,147
|
(43)
|
|
Cash acquired in asset acquisition, net of transaction costs
|
|
18,589
|
-
|
|
18,589
|
-
|
|
Cash received in El Morro transaction, net of transaction costs
|
|
-
|
-
|
|
-
|
46,276
|
|
Investment in El Morro
|
|
-
|
-
|
|
-
|
(463,000)
|
|
Proceeds from sale of investments
|
|
-
|
-
|
|
8,927
|
48,112
|
|
Interest
received
|
|
495
|
560
|
|
1,541
|
792
|
|
Proceeds from disposal of assets
|
|
83
|
-
|
|
215
|
29
|
Cash used in continuing operations
|
|
(77,883)
|
(36,197)
|
|
(117,078)
|
(426,797)
|
Cash generated from discontinued operations
|
|
-
|
34,629
|
|
-
|
34,410
|
|
|
|
|
|
|
Financing activities
|
|
|
|
|
|
|
|
Exercise of options to purchase common stock
|
|
1,353
|
5,645
|
|
12,593
|
6,410
|
|
El Morro loan
|
|
-
|
-
|
|
-
|
463,000
|
|
Revolving credit facility costs
|
|
(347)
|
-
|
|
(778)
|
-
|
|
Repayment of long-term debt
|
|
-
|
-
|
|
-
|
(27,235)
|
Cash generated by financing activities
|
|
1,006
|
5,645
|
|
11,815
|
442,175
|
Cash generated by (used in) discontinued operations
|
|
-
|
-
|
|
-
|
-
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents
|
|
3,181
|
(13,005)
|
|
11,220
|
(7,710)
|
|
|
|
|
|
|
|
(Decrease) increase in cash and cash equivalents
|
|
(29,723)
|
31,476
|
|
(308)
|
103,740
|
Cash and cash equivalents, beginning of period
|
|
520,169
|
344,616
|
|
490,754
|
272,352
|
Cash and cash equivalents, end of period
|
|
490,446
|
376,092
|
|
490,446
|
376,092
|
|
|
|
|
|
|
|
Cash and cash equivalents are comprised of
|
|
|
|
|
|
|
|
Cash
|
|
269,236
|
128,972
|
|
269,236
|
128,972
|
|
Short-term money market instruments
|
|
221,210
|
247,120
|
|
221,210
|
247,120
|
|
|
490,446
|
376,092
|
|
490,446
|
376,092
|
Data and Statistics for these countries : Chile | All Gold and Silver Prices for these countries : Chile | All
|
VanEck Vectors Global Alternative Energy ETF
|
|
PRODUCER |
CODE : NGD |
ISIN : CA6445351068 |
CUSIP : 644535106 |
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
New Gold is a gold producing company based in Canada. New Gold produces gold, copper, lead, silver and zinc in Australia and in Mexico, develops copper, gold and silver in Brazil, in Canada and in Chile, and holds various exploration projects in Canada. Its main assets in production are PEAK MINES in Australia and CERRO SAN PEDRO, MESQUITE and CERRO SAN PEDRO in Mexico, its main assets in development are AMAPARI in Brazil, NEW AFTON in Canada and EL MORRO in Chile and its main exploration properties are AJAX - PYTHON, BUCK CLAIMS, 3TS, SIZZLER, CC PROPERTY, VO PROPERTY, TAK PROPERTY, MOUSE MOUNTAIN, G-SOUTH, CHUBBY BEAR, LIBERTY BELL, BOULEVARD, BOUVETTE, WIT YUKON, RAM, SLATE FALLS, PROSPECTOR MOUNTAIN, MAYO, DAVIDSON, BLACKWATER, BOULDER CREEK, CAPOOSE, NATIONAL, CORRAL CANYON and RUDE CREEK in Canada and RIO FIGUEROA in Chile. New Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is 149.0 millions as of today (€ 133.4 millions). Its stock quote reached its highest recent level on January 07, 2011 at 9.99, and its lowest recent point on March 20, 2020 at 0.39. New Gold has 47 442 200 shares outstanding. |
Corporate Presentations of VanEck Vectors Global Alternative Energy ETF |
In the News and Medias of VanEck Vectors Global Alternative Energy ETF |
Annual reports of VanEck Vectors Global Alternative Energy ETF |
Financings of VanEck Vectors Global Alternative Energy ETF |
Nominations of VanEck Vectors Global Alternative Energy ETF |
Financials of VanEck Vectors Global Alternative Energy ETF |
|
Project news of VanEck Vectors Global Alternative Energy ETF |
|
Corporate news of VanEck Vectors Global Alternative Energy ETF |
7/27/2017 | New Gold Announces 2017 Second Quarter Results; Rainy River ... |
7/27/2016 | New Gold reports 2Q loss |
7/27/2016 | New Gold Delivers Higher 2016 Second Quarter Cash Flow and S... |
1/26/2016 | Rising Equities Put a Dent in Gold |
1/26/2016 | Should You Worry about Intermediate Gold Miners’ Liquidity? |
1/26/2016 | AngloGold, Gold Fields Have Relatively Higher Financial Leve... |
1/22/2016 | Gold Is on a Winning Streak as Global Markets Slump |
1/21/2016 | How Do Intermediate Gold Miners Rank Based on Their Costs? |
1/12/2016 | GLD Witnessed an Inflow: What Does It Mean for Investors? |
1/12/2016 | Gold Miners’ Geographic Exposure Impacts Growth Prospects |
1/12/2016 | Intermediate Gold Miners Fell in 2015 and Beyond |
1/12/2016 | AngloGold, Gold Fields Have Relatively Higher Financial Leve... |
1/7/2016 | How the Fed’s Decision and Oil Prices Are Impacting Gold |
12/30/2015 | Exploring how Gold Investments Can Depend on Inflation |
12/18/2015 | Aftermath of the Rate Hike: US Dollar Rose, Precious Metals ... |
12/16/2015 | Gold Relaxes before the Fed Gives Its Verdict |
10/28/2015 | 5:09 pm New Gold misses by $0.02, misses on revs; updates gu... |
9/28/2015 | New Gold to discuss 2015 third quarter financial results on ... |
9/14/2015 | New Gold provides Rainy River project development update and... |
8/27/2015 | New Gold Announces Sale of El Morro Interest for $90 Million... |
7/28/2015 | New Gold beats 2Q profit forecasts |
7/22/2015 | Royal Gold Enters into $175M Agreement with New Gold - Analy... |
7/21/2015 | Blues for the Yellow Metal: 3 Dull Gold Stocks - Analyst Blo... |
7/21/2015 | This Stock Could Very Easily Triple Or Even Quadruple |
7/20/2015 | Mid-Morning Market Update: Markets Mostly Flat; Morgan Stanl... |
7/10/2015 | Why New Gold (NGD) Could Be Positioned for a Slump - Tale of... |
4/29/2015 | 4:49 pm New Gold misses by $0.02, misses on revs |
3/23/2015 | Increased Earnings Estimates Seen for New Gold (NGD): Can It... |
3/17/2015 | New Gold (NGD): Strong Industry, Solid Earnings Estimate Rev... |
2/19/2015 | New Gold Generates Record Cash Flow in 2014 |
2/10/2015 | New Gold to Discuss 2014 Fourth Quarter and Year-End Financi... |
2/4/2015 | New Gold to Discuss Fourth Quarter and Full Year 2014 Operat... |
2/4/2015 | New Gold Receives Environmental Approvals for Rainy River Pr... |
2/4/2015 | New Gold Finishes 2014 Further Solidifying its Low-Cost Posi... |
1/30/2015 | New Gold Receives Environmental Approvals for Rainy River Pr... |
1/26/2015 | New Gold to Discuss Fourth Quarter and Full Year 2014 Operat... |
1/20/2015 | The 15 Lowest Cost Producers Of Precious & Industrial Metals... |
2/17/2014 | lodes discovered at Pampalo |
2/6/2014 | New Gold Finishes 2013 with Lowest Costs in its History, Inc... |
1/29/2014 | Bantou Project - New Gold Targets & Gold Nuggets |
12/12/2013 | (Blackwater)New Gold Announces Blackwater Feasibility Study Results |
10/21/2013 | (New Afton)New Gold Achieves Targeted Throughput Increase at New Afton ... |
9/24/2013 | Randall Oliphant Elected New Chairman of World Gold Council |
9/9/2013 | MedGold finds new gold zone at Boticas |
8/9/2013 | New Gold Successfully Completes Offer with 97% of Rainy Rive... |
7/25/2013 | New Gold Acquires 86% of Rainy River and Extends Offer to Au... |
5/15/2013 | New Gold Eliminates Legacy Gold Hedges |
5/6/2013 | Mineralised Structures Discovered - Bantou & Tankoro Prospec... |
5/1/2013 | (New Afton)New Gold Announces 2013 First Quarter Results - Increases Go... |
4/11/2013 | Natoougou Deposit - Significant New Gold Discovery |
4/4/2013 | (Blackwater)New Gold Announces Increased Gold Resources at Blackwater Pr... |
3/21/2013 | Anomalies Outlined at Yako, Burkina Faso |
3/15/2013 | Prospect |
1/28/2013 | Victoria Identifies New Gold Targets on the Dublin Gulch Pro... |
11/8/2012 | New Gold Announces Pricing of $500 Million Senior Notes Offe... |
11/8/2012 | New Gold Announces Launch of $500 Million Senior Notes Offer... |
10/12/2012 | New Gold Announces Redemption of 5% Subordinated Convertible... |
8/1/2012 | (New Afton)New Gold Achieves Strong Operational and Financial Performan... |
7/26/2012 | Marathon Gold Discovers New Gold Bearing Quartz Veins in Ext... |
7/3/2012 | Belvedere Resources Limited- New Gold Zone Intersected at Hi... |
6/29/2012 | (New Afton)New Gold Announces Start of Production at New Afton Mine in ... |
6/18/2012 | Anomalies Outlined at Sebba, Burkina Faso |
4/27/2012 | Exciting New Gold Company |
4/5/2012 | New Gold Announces Closing of $300 Million Senior Notes Offe... |
4/3/2012 | New Gold Announces Pricing of $300 Million Senior Notes Offe... |
3/27/2012 | New Gold Announces Launch of $300 Million Senior Notes Offer... |
3/26/2012 | Targets Identified at Rattlesnake Hills Project |
2/12/2012 | Crater Mountain - Extensive new gold mineralised zone |
2/2/2012 | New Gold Announces Record Gold Production in 2011, 25% Incre... |
2/2/2012 | New Gold Announces Record Gold Production in 2011, 25% Incre... |
12/16/2011 | Shareholders of Silver Quest Resources Ltd. Approve Plan of ... |
6/1/2011 | New Gold Closes Acquisition of Richfield |
5/31/2011 | Richfield Securityholders Approve Arrangement Transaction In... |
4/5/2011 | New Gold Agrees to Acquire Richfield Ventures Corp=2E - Adds... |
12/1/2010 | New Gold Monetizes Equity Position in Beadell for Net Procee... |
6/1/2009 | Completes Cdn$1.2 Billion Business Combination with Western ... |
5/14/2009 | aims for major producer status - Midas Letter and Aheadofthe... |
5/13/2009 | Shareholder Approval of Business Combination and Q1 Results |
2/27/2009 | Winston updates New Gold |
2/18/2009 | WTM Discovers Large New Gold System on Hwy 144 Property, Tim... |
2/5/2009 | has a strong beta to gold says GoldSeek.com |
1/16/2009 | Reinhard updates New Gold |
1/9/2009 | Reduces Debt Position by C$50 Million |
12/16/2008 | Shareholder Letter |
12/3/2008 | Struthers has New Gold on his shopping list |
9/3/2008 | Winston updates New Gold Inc. |
8/8/2008 | Allan Barry Laboucan recommends New Gold Inc on BNN's "The S... |
6/18/2008 | Shareholders of Metallica Resources, New Gold and Peak Gold ... |
5/12/2008 | Metallica Resources, New Gold and Peak Gold Announce Signing... |
5/9/2008 | Noteholders Extraordinary Resolution Passed - Meeting Cancel... |
5/9/2008 | Noteholders approve indenture changes |
4/25/2008 | Meeting of the Noteholders Called |
3/31/2008 | Announce Proposed US$1.6 Billion Business Combination to |
3/25/2008 | , Abacus Mining and Exploration Corp. and Teck Cominco Limit... |
10/30/2007 | Sign Letters of Intent to Ensure Co-Operation |
10/25/2007 | Completes Acquisisiton of New Afton Surface Rights |
7/30/2007 | Exercise of Over-Allotment Option, Gross Proceeds of Offerin... |
7/6/2007 | Another Milestone in Development of New Afton Project, EP Co... |
6/28/2007 | Announces Closing of Financing Gross Proceeds of C$375 Milli... |
6/14/2007 | Announces Pricing of C$275 Million Debt Financing |
5/30/2007 | Announces Terms of Underwritten Offering |
5/30/2007 | Prospectus Filed For Financing to Fund Development of New Af... |
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|