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New Gold Inc.

Publié le 27 juillet 2016

New Gold Delivers Higher 2016 Second Quarter Cash Flow and Significantly Lowers Full-Year Cost Guidance

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New Gold Delivers Higher 2016 Second Quarter Cash Flow and Significantly Lowers Full-Year Cost Guidance

(All dollar figures are in US dollars unless otherwise indicated)

TORONTO, July 27, 2016/CNW/ - New Gold Inc. ('New Gold') (TSX:NGD) (NYSE MKT:NGD) today announces its 2016 second quarter results and provides an update on the construction of the company's Rainy Riverproject.

2016 SECOND QUARTER HIGHLIGHTS

  • Gold production of 99,423 ounces increased by 15% relative to 2015 and copper production of 25.7 million pounds increased by 9%
  • All-in sustaining costs decreased to $717per ounce, including total cash costs of $334per ounce
    • All four operations generated free cash flow during the quarter
  • Cash generated from operations before changes in non-cash operating working capital of $82 million, a 31% increase compared to 2015
  • Cash generated from operations of $79 million, a 39% increase from 2015
  • Adjusted net earnings of $14 million, or $0.03per share, relative to an adjusted net loss of $1 million, or nil per share, in 2015
  • Net loss of $9 million, or $0.02per share, compared to net earnings of $9 million, or $0.02per share, in 2015
  • Rainy Riverconstruction approximately 40% complete at June 30, 2016with $107 millionin capital expenditures during the quarter
  • June 30, 2016cash and equivalents of $220 million

'We are proud to have delivered such strong second quarter results,' stated Randall Oliphant, Executive Chairman. 'The combination of higher production, lower costs and improved gold prices enabled us to generate a 39% increase in our cash flow. We are on track to meet our full-year gold production guidance and pleased to be in a position to lower our cost guidance. We look forward to a strong finish to the year.'

'At the same time, our Rainy Riverproject is moving ever closer to production. The construction of the processing facilities and initial mining activities are both going very well and we are making good progress in resolving the challenge we encountered earlier this year related to the ground conditions at the water and tailings management facilities,' added Mr. Oliphant.

CONSOLIDATED YEAR-TO-DATE OPERATIONAL RESULTS AND 2016 GUIDANCE

Consistent with the expectations the company outlined as part of its first quarter results, gold production increased quarter over quarter, resulting in consolidated gold production of 190,234 ounces in the first six months of 2016 which was 5% higher than the same period of the prior year. As a result of the company's strong first half production, New Gold is well positioned to meet its full-year gold production guidance of 360,000 to 400,000 ounces. At the same time, the company's first half copper production of 51.1 million pounds was higher than planned, increasing by 10% relative to the prior-year period, and New Gold now anticipates it will exceed the high end of its full-year copper production guidance of 81.0 to 93.0 million pounds. Consolidated full-year silver production is expected to be at, or slightly below, the low end of the guidance range of 1.6 to 1.8 million ounces.

For the six-month period ended June 30, 2016, New Gold's all-in sustaining costs of $736per ounce and total cash costs of $343per ounce were both well below the prior year and are tracking below the company's 2016 cost guidance. The $233per ounce decrease in all-in sustaining costs relative to the first half of 2015 was attributable to the combination of a $106per ounce decrease in total cash costs and a $125per ounce, or $20 million, decrease in the company's consolidated sustaining costs, which include New Gold's cumulative sustaining capital, exploration, general and administrative, and amortization of reclamation expenditures.

Based on New Gold's first half operating results, and assuming current commodity prices and foreign exchange rates, the company now expects its 2016 full-year total cash costs to be $360 to $400per ounce, a $75per ounce reduction from the company's original guidance range of $435 to $475per ounce. As total cash costs form a component of all-in sustaining costs, New Gold similarly expects a $75per ounce reduction from its 2016 full-year all-in sustaining costs to approximately $750 to $790per ounce as compared to the company's original guidance range of $825 to $865per ounce.

NEW GOLD SUMMARY OPERATIONAL RESULTS

Three months ended June 30

Six months ended June 30

2016

2015

2016

2015

GOLD PRODUCTION (thousand ounces)

New Afton

25.3

24.4

50.4

48.3

Mesquite

25.6

22.5

52.9

48.2

Peak Mines

31.3

14.9

50.9

34.3

Cerro San Pedro

17.3

24.7

36.1

50.6

Total Gold Production

99.4

86.4

190.2

181.4

Total Gold Sales (thousand ounces)

101.8

87.8

187.9

180.2

Average Realized Gold Price per ounce

$1,267

$1,191

$1,239

$1,210

COPPER PRODUCTION (million pounds)

New Afton

22.1

19.9

44.5

39.5

Peak Mines

3.6

3.7

6.6

7.1

Total Copper Production

25.7

23.6

51.1

46.6

Total Copper Sales (million pounds)

25.2

23.7

50.4

45.8

Average Realized Copper Price per pound

$2.14

$2.72

$2.14

$2.66

SILVER PRODUCTION (million ounces)

New Afton

0.1

0.1

0.1

0.1

Cerro San Pedro

0.2

0.3

0.5

0.6

Total Silver Production

0.3

0.4

0.7

0.8

Total Silver Sales (million ounces)

0.3

0.4

0.7

0.8

Average Realized Silver Price per ounce

$17.39

$16.23

$15.96

$16.41

TOTAL CASH COSTS($ per ounce)

New Afton

($547)

($940)

($593)

($889)

Mesquite

611

839

618

867

Peak Mines

521

1,157

620

974

Cerro San Pedro

898

879

917

944

Total Cash Costs

$334

$410

$343

$449

All-IN SUSTAINING COSTS($ per ounce)

New Afton

($131)

($235)

($198)

($295)

Mesquite

999

1,533

1,044

1,632

Peak Mines

706

1,549

827

1,337

Cerro San Pedro

941

889

947

955

All-in Sustaining Costs

$717

$922

$736

$969

2016 SECOND QUARTER CONSOLIDATED OPERATIONAL RESULTS

New Gold's second quarter gold production increased by 15% to 99,423 ounces when compared to the prior-year quarter. The increase in quarterly gold production was attributable to New Afton, Mesquite and the Peak Mines all delivering higher production. This was only partially offset by planned lower production from Cerro San Pedro as the mine was in its final months of active mining. Quarterly copper production also increased by 9% to 25.7 million pounds when compared to the second quarter of 2015. Silver production of 0.3 million ounces remained in line with 2015.

During the second quarter, all four of New Gold's operations delivered production at all-in sustaining costs below $1,000per ounce. As a result of this strong performance, consolidated second quarter all-in sustaining costs of $717per ounce decreased by $205per ounce relative to the second quarter of 2015. The significant decrease in all-in sustaining costs relative to the prior-year quarter was attributable to the combination of a $76per ounce decrease in total cash costs to $334per ounce and a $129per ounce, or $6 million, decrease in the company's consolidated sustaining costs. The decrease in total cash costs was driven by the combined benefit of higher gold production, the depreciation of the Canadian and Australian dollars and New Gold's business improvement initiatives more than offsetting the impact of lower by-product revenues resulting from lower realized copper prices.

New Afton

Gold production at New Afton during the second quarter increased to 25,287 ounces. The increase relative to the prior-year quarter was due to a 16% increase in mill throughput which more than offset a planned decrease in gold grade. Gold recoveries remained consistent at 83% despite the significant increase in throughput. New Afton's average mill throughput during the second quarter was 15,320 tonnes per day.

As a result of the continued strong throughput, New Afton's quarterly copper production increased by 11% to 22.1 million pounds when compared to the second quarter of 2015.

The $104per ounce increase in New Afton's all-in sustaining costs to ($131)per ounce was attributable to the impact of lower by-product revenues only being partially offset by the combined benefit of higher gold production, the depreciation of the Canadian dollar relative to the U.S. dollar and a $6 milliondecrease in sustaining costs. New Afton's second quarter total cash costs of ($547)per ounce were impacted by a $6 million, or $406per ounce, decrease in by-product revenues relative to the prior-year quarter as the benefit of higher copper sales volumes was more than offset by the decrease in the realized price. As a result of the depreciation of the Canadian dollar relative to the U.S. dollar, the mine's operating costs, including mining, processing and general and administrative costs, decreased to $17.33per tonne in the second quarter relative to $18.82per tonne in the prior-year quarter.

New Afton's second quarter co-product cash costs were $543per ounce of gold and $0.91per pound of copper relative to $466per ounce and $1.06per pound in the prior-year quarter. The mine's second quarter co-product all-in sustaining costs were $711per ounce of gold and $1.19per pound of copper relative to the prior-year quarterly all-in sustaining costs of $708per ounce and $1.61per pound.

For the six-month period ended June 30, 2016, New Afton's gold production increased to 50,355 ounces when compared to the same period of the prior year. The increase in production was attributable to the combination of higher throughput and recovery more than offsetting a planned decrease in gold grade.

Similarly, the mine's first half copper production increased by 13%, or 5.0 million pounds, to 44.5 million pounds primarily as a result of a 15% increase in mill throughput.

For the six-month period ended June 30, 2016, New Afton's all-in sustaining costs increased by $97per ounce to ($198)per ounce despite an $8 million, or $348per ounce, decrease in by-product revenues relative to the first half of 2015 as a result of the decrease in the realized copper price. New Afton's first half sustaining costs decreased by $8 millionto $20 millionwhen compared to the first six months of 2015.

New Afton's first half co-product cash costs were $516per ounce of gold and $0.89per pound of copper relative to $480per ounce and $1.04per pound in the prior-year period. The mine's first half co-product all-in sustaining costs of $672per ounce of gold and $1.16per pound of copper were below the costs in the same prior-year period of $689per ounce and $1.49per pound.

Mesquite

Second quarter gold production at Mesquite increased by 14% to 25,564 ounces when compared to the prior-year quarter. The increase in production was primarily attributable to a 28% increase in gold grade which was only partially offset by a 13% decrease in ore tonnes mined and placed on the leach pad.

Mesquite's second quarter all-in sustaining costs of $999per ounce and total cash costs of $611per ounce were both significantly below the prior-year quarter. The mine's total cash costs benefitted from the combination of higher gold production and lower diesel prices. At the same time, Mesquite's quarterly sustaining costs decreased by $3 million, or $306per ounce, to $12 million, which contributed to the $534per ounce total decrease in all-in sustaining costs relative to the second quarter of 2015.

For the six-month period ended June 30, 2016, Mesquite's gold production increased by 10% to 52,935 ounces relative to the prior-year period. Mesquite's first half production benefitted from increased ore tonnes mined and placed on the leach pad as well as higher gold grade.

Mesquite's first half all-in sustaining costs of $1,044per ounce and total cash costs of $618per ounce were both significantly below the same period of the prior year. Mesquite's first half sustaining costs decreased by $14 million, or $339per ounce, to $24 million, which led to a $588per ounce total decrease in all-in sustaining costs relative to the six-month period ended June 30, 2015.

Peak Mines

Second quarter gold production at the Peak Mines of 31,285 ounces was more than double that of the prior-year quarter. The significant increase in gold production was attributable to the combination of higher gold grade and recovery which was only partially offset by lower throughput. Gold production in the prior-year quarter was well below average due to the impact of geotechnical challenges in the Peak Mines' most gold-rich ore body, Perseverance, which limited the amount of ore that was mined and processed from this area.

Quarterly copper production of 3.6 million pounds remained in line with the second quarter of 2015 as the impact of the decrease in throughput was offset by slight increases in both copper grade and recovery.

All-in sustaining costs at the Peak Mines decreased by $843per ounce to $706per ounce relative to the prior-year quarter. The decrease in all-in sustaining costs was a result of a $636per ounce decrease in total cash costs to $521per ounce coupled with a $207per ounce decrease in sustaining costs. The decrease in total cash costs was primarily attributable to the increase in production with costs also benefitting from the depreciation of the Australian dollar relative to the U.S. dollar. The decrease in costs was achieved despite by-product revenues decreasing by $4 million, or $505per ounce, relative to the prior-year quarter primarily as a result of the decrease in the realized copper price.

For the six-month period ended June 30, 2016, gold production at the Peak Mines increased by 48% to 50,881 ounces relative to the prior-year period. The increase in gold production in the first half of 2016 was driven by an increase in gold grade and recovery for reasons consistent with those noted above for the second quarter.

First half copper production of 6.6 million pounds was slightly below that of the same period of the prior year as an 8% decrease in throughput was only partially offset by 2% increase in copper recovery while copper grade remained consistent.

All-in sustaining costs at the Peak Mines in the first half of 2016 decreased by $510per ounce to $827per ounce. The decrease in all-in sustaining costs was attributable to the combination of a $354per ounce decrease in total cash costs and a $3 million, or $156per ounce, decrease in sustaining costs. The decrease in total cash costs was driven by the increase in production as well as the depreciation of the Australian dollar relative to the U.S. dollar, which more than offset the impact of by-product revenues decreasing by $5 million, or $251per ounce, relative the first half of 2015 primarily as a result of the decrease in the realized copper price.

Cerro San Pedro

Cerro San Pedro's second quarter gold production decreased to 17,287 ounces as planned. As the mine was in its final months of active mining, the ore tonnes mined and placed on the leach pad decreased significantly when compared to the prior-year quarter. Cerro San Pedro finished active mining in late June and has now transitioned to residual leaching.

Cerro San Pedro's second quarter silver production was 0.2 million ounces.

Cerro San Pedro's second quarter all-in sustaining costs of $941per ounce increased slightly relative to the prior-year quarter, driven by a $19per ounce increase in total cash costs to $898per ounce. The increase in total cash costs was attributable to the lower gold production.

For the six-month period ended June 30, 2016, consistent with the company's expectations, gold production at Cerro San Pedro decreased to 36,063 ounces as the operation was in the final stages of active mining.

First half silver production of 0.5 million ounces remained in line with the same period of the prior year.

All-in sustaining costs at Cerro San Pedro in the first half of 2016 decreased by $8per ounce to $947per ounce. The decrease in all-in sustaining costs was attributable to a decrease in total cash costs resulting from a significant decrease in total tonnes moved in the first half of 2016 relative to the same period of the prior year.

'Our four operations had a very solid second quarter and first half of the year,' stated David Schummer, Executive Vice President and Chief Operating Officer. 'I am very proud of our operating teams. It is as a result of their efforts that we were able to reduce our cost guidance for the year.'

FINANCIAL RESULTS

Three months ended June 30

Six months ended June 30

(in millions of U.S. dollars, except per share amounts)

2016

2015

2016

2015

Revenues

$180.3

$167.7

$334.8

$336.6

Operating margin

95.6

69.5

168.2

138.8

Adjusted net earnings/(loss)

13.7

(1.3)

13.4

(6.4)

Adjusted net earnings/(loss) per share

0.03

-

0.03

(0.01)

Net earnings/(loss)

(8.8)

9.4

18.0

(34.4)

Net earnings/(loss) per share

(0.02)

0.02

0.04

(0.07)

Cash generated from operations before changes in non-cash operating working capital

82.4

62.7

144.5

130.1

Cash generated from operations

79.2

56.9

140.7

126.7

Second quarter revenues of $180 millionincreased by $13 million, or 8%, relative to 2015 as higher gold and copper sales volumes and a higher realized gold price more than offset a decrease in the realized copper price. Relative to the second quarter of 2015, the average realized price increased by $76per ounce of gold, or 6%, and $1.16per ounce of silver, or 7%, while the average realized price of copper decreased by $0.58per pound, or 21%.

The company's second quarter operating margin increased by $26 million, or 38%, relative to 2015 due the above-noted increase in revenues coupled with a $14 milliondecrease in the company's quarterly operating expenses. The decrease in operating expenses was attributable to the combined benefit of the depreciation of the Canadian and Australian dollars relative to the U.S. dollar, the planned slowdown of mining activity at Cerro San Pedro and the company's ongoing business improvement initiatives.

New Gold had adjusted net earnings of $14 million, or $0.03per share, in the second quarter of 2016 relative to an adjusted net loss of $1 million, or $nil per share, in the prior-year quarter. The increase relative to the prior-year quarter was primarily attributable to the increase in operating margin noted above and an $8 milliondecrease in finance costs, which were only partially offset by an $11 millionincrease in depreciation and depletion expense and a cumulative $2 millionincrease in share-based payment and exploration and business development expenses. The decrease in finance costs was driven by a greater portion of the company's interest expense being capitalized against Rainy River.

The company reported a net loss of $9 million, or $0.02per share, in the second quarter relative to net earnings of $9 million, or $0.02per share, in the prior-year quarter. The change was primarily due to non-cash foreign exchange movements where the second quarter included a $5 millionpre-tax foreign exchange loss while the prior-year quarter included a $4 millionpre-tax foreign exchange gain. The second quarter of 2016 also included non-cash pre-tax losses of $10 millionon the revaluation of the gold stream obligation and $8 millionon the revaluation of the company's gold price options contracts, both of which did not have an impact on the prior-year quarterly earnings.

New Gold's second quarter cash generated from operations before changes in non-cash operating working capital increased by $20 million, or 31%, to $82 million. The increase relative to the second quarter of 2015 was primarily attributable to the company's strong operating performance and the higher realized gold price more than offsetting the decrease in the realized copper price. The company's cash generated from operations in the second quarter increased by $22 million, or 39%, to $79 million.

For the six-month period ended June 30, 2016, revenues of $335 millionremained in line with the first half of 2015 as higher gold and copper sales volumes and a higher realized gold price offset a decrease in the realized copper price.

Driven by a $31 milliondecrease in operating expenses, New Gold's first half operating margin increased by 21% to $168 million.

New Gold had adjusted net earnings of $13 million, or $0.03per share, in the first half of 2016 relative to an adjusted net loss of $6 million, or $0.01per share, in the prior-year period. The increase in earnings was attributable to the increase in operating margin and a $14 milliondecrease in finance costs, which were only partially offset by a $14 millionincrease in depreciation and depletion expense and a $4 millioncumulative increase in share-based payment and exploration and business development expenses.

The company reported net earnings of $18 million, or $0.04per share, in the first half relative to a net loss of $34 million, or $0.07per share, in the first six months of 2015. The change was primarily due to non-cash foreign exchange movements where the first half of 2016 included a $29 millionpre-tax foreign exchange gain while the prior-year period included a $32 millionpre-tax foreign exchange loss. The 2016 first half foreign exchange gain was offset by non-cash pre-tax losses of $26 millionon the revaluation of the gold stream obligation and $4 millionon the revaluation of the company's gold price options contracts, both of which did not have an impact on the first half of the prior year.

For the six-month period ended June 30, 2016, New Gold's cash generated from operations before changes in non-cash operating working capital increased by $14 million, or 11%, to $145 million. The increase relative to the first half of 2015 was primarily attributable to the decrease in the company's operating expenses. The company's cash generated from operations in the first half of 2016 increased by $14 million, or 11%, to $141 million.

FINANCIAL UPDATE

New Gold's cash and cash equivalents as at June 30, 2016were $220 million. The company also has a $300 millionrevolving credit facility, of which $121 millionhas been used as at June 30, 2016to issue letters of credit, with the balance remaining undrawn. In addition, the remaining $75 millionof the stream deposit is to be received from RGLD Gold AG, a wholly-owned subsidiary of Royal Gold Inc., when 60% of the estimated Rainy Riverproject development capital has been spent and other customary conditions have been satisfied, which is expected to be late in the third quarter or early in the fourth quarter of 2016.

During the first quarter, New Gold announced that it had entered into gold price option contracts. New Gold purchased put options with a strike price of $1,200per ounce covering 270,000 ounces of gold and simultaneously sold call options with a strike price of $1,400per ounce covering an equivalent 270,000 ounces. The contracts cover 30,000 ounces of gold per month for the nine-month period from April through December 2016. As the gold price traded between $1,200 and $1,400per ounce during the second quarter, the first three 30,000 per month contracts expired unexercised. As at the beginning of the third quarter, there were 180,000 ounces covered by the contracts for the balance of 2016.

At June 30, 2016, the face value of the company's long-term debt was $800 million(book value - $789 million). The components of the debt include: $300 millionof 7.00% face value senior unsecured notes due in April 2020and $500 millionof 6.25% face value senior unsecured notes due in November 2022. The company currently has approximately 513 million shares outstanding.

PROJECTS UPDATE

RAINY RIVER

Development activity at New Gold's Rainy Riverproject, located in northwestern Ontario, continued to advance during the second quarter. The focus of the 2016 development activities is the construction of the processing facilities and supporting infrastructure as well as the initial stripping of the open pit.

RAINY RIVER- 2016 SECOND QUARTER PROJECT UPDATES

  • Overall construction progress is currently over 40% complete
  • Plant site earthworks substantially complete
  • Concrete placement over 75% complete
  • Power line construction substantially complete
  • Installation of mechanical, piping, electrical and instrumentation underway in grinding building and primary crusher
  • First ball mill shell segment placed in grinding building
  • Pre-leach thickener tank 90% complete
  • Leach tanks over 30% complete
  • Received approval to being pumping an initial amount of water from Pinewood river to water management facility for storage
  • Approvals to commence remediation work on water management facilities expected in the coming weeks
  • Final submission of redesigns to tailings management facility planned for mid-August
  • 225 people currently on full-time operations team with over 70% from local communities, including over 30% from Indigenous communities
  • Material moved for mine development on target
  • No Lost Time Incidents since New Gold acquired the project in 2013

Construction of the process facilities and the pre-production mining activities are advancing well. During the second quarter, the installation of the mechanical, piping, electrical and instrumentation equipment started both in the grinding building and the primary crusher and the first ball mill shell was installed. The mine operations team moved approximately 5.0 million tonnes of waste and overburden during the quarter, bringing the total material moved to date to over 7.0 million tonnes. The team continues to increase the mining rate and is now moving an average of approximately 68,000 tonnes per day.

As previously disclosed, during the course of the construction of the water management facility earlier in 2016, New Gold identified areas where the strength of the foundation is less than was estimated for the original designs. As a result, during the second quarter, the company submitted revised construction designs for regulatory review. Based on recent communications, New Gold anticipates receipt of the requisite permit amendments to begin the remediation work on the water management facility in the coming weeks. Consistent with New Gold's previous disclosure, the company's remediation plan includes the addition of rock toe buttresses at the base of the water management berms. Subsequent to the end of the second quarter, the company received approval to begin pumping an initial amount of water from the Pinewood river to the water management facility for storage.

The company is also finalizing its review of the tailings management facility design, parts of which are similarly impacted by the foundation conditions, and plans to submit its proposed redesigns for regulatory review by mid-August. New Gold's proposed redesign incorporates flatter slope angles and wick drains in some areas. Construction on both the water management and tailings facilities will recommence immediately after receiving the respective approvals.

With construction of the processing facilities and other components of the project on schedule, and the process of amending the water and tailings management facilities advancing as planned, the company continues to target first production at Rainy Riverin mid-2017. In support of this schedule, New Gold continues to work with Environment and Climate Change Canada towards obtaining a Schedule 2 Amendment, required to deposit mine waste in certain creeks, which is targeted to be received in mid-2017. However, the Schedule 2 Amendment is not required to maintain the planned mid-2017 start-up, as the company has also evaluated the potential to construct a smaller starter dam within the broader tailings management facility. The contemplated smaller facility would have capacity for approximately six months of mine waste and would not require a Schedule 2 Amendment.

Project capital expenditures at Rainy Riverduring the second quarter totalled $107 million, bringing the total project development capital spending through June 30, 2016to $501 million. Based on the development capital spent to date, and assuming a C$1.30/US$ exchange rate on capital expenditures going forward, the total Rainy Rivercapital cost is expected to be approximately $940 million. The total capital cost estimate includes the previously announced $35 millionof additional capital required to adjust the design of the water and tailings management facilities.

Overall, the Rainy River project enhances New Gold's growth pipeline through its manageable capital costs, significant production scale at below current industry average costs and exciting longer-term exploration potential in a great mining jurisdiction. Rainy Riveris expected to generate significant gold production growth for New Gold at costs below the company's 2016 guidance for all-in sustaining costs. Relative to the company's consolidated 2016 gold production guidance of 360,000 to 400,000 ounces, Rainy Riveralone is expected to produce an average of 325,000 ounces of gold annually, which will more than offset the decrease in production and cash flow arising from the transition of Cerro San Pedro to residual leaching. The company looks forward to advancing the Rainy River project and providing further updates on its development.

BLACKWATER

The company's Blackwater project, located in south-central British Columbia, is expected to produce an average of 485,000 ounces of gold per year at below industry average costs. The current focus at Blackwater is attaining the approval of the Environmental Assessment ('EA'). The coordinated Federal and Provincial EA technical review is in progress and New Gold is in the process of responding to the comments received from the Federal government, Provincial agencies and local Indigenous communities. The company continues to anticipate approval of the Blackwater Provincial EA by early 2017.

Capital expenditures at Blackwater during the second quarter and first half of 2016 were $3 millionand $4 million, respectively.

EL MORRO PROPERTY - 4% GOLD STREAM

As part of New Gold's 2015 sale of its 30% interest in the El Morro property to Goldcorp Inc. ('Goldcorp'), the company retained a 4% stream on future gold production from El Morro. The El Morro property forms part of Goldcorp and Teck Resources Limited's NuevaUnión project (formerly Project Corridor). A pre-feasibility study is expected to commence for NuevaUnión in the fourth quarter of 2016 and is expected to be completed in mid-2017. Environmental Impact Assessment baseline studies are expected to commence in the second half of 2016.

As at the end of 2015, 4% of the El Morro mineral reserves represented 357,000 ounces of gold. For a detailed breakdown of mineral reserves by category, as well as key assumptions, parameters and risks, refer to New Gold's Annual Information Form for the year ended December 31, 2015filed on www.sedar.com.

WEBCAST AND CONFERENCE CALL

A webcast and conference call to discuss these results will be held on Thursday, July 28, 2016beginning at 9:30 a.m. Eastern time. Participants may participate via webcast by registering on our website at www.newgold.com. You may also listen to the conference call by calling toll free 1-888-231-8191, or 1-647-427-7450 outside of the U.S. and Canada. A recorded playback of the conference call will be available until August 28, 2016by calling toll free 1-855-859-2056, or 1-416-849-0833 outside of the U.S. and Canada, passcode 45491569. An archived webcast will also be available until October 28, 2016at www.newgold.com.

ABOUT NEW GOLD INC.

New Gold is an intermediate gold mining company. The company has a portfolio of four producing assets and two significant development projects. The New Afton Mine in Canada, the Mesquite Mine in the United States, the Peak Mines in Australiaand the Cerro San Pedro Mine in Mexico, provide the company with its current production base. In addition, New Gold owns 100% of the Rainy River and Blackwater projects, both in Canada, as well as a 4% gold stream on the El Morro project located in Chile. New Gold's objective is to be the leading intermediate gold producer, focused on the environment and social responsibility. For further information on the company, please visit www.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 are 'forward looking'. All statements in this news release, other than statements of historical fact, which address events, results, outcomes 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 use of forward-looking terminology such as 'plans', 'expects', 'is expected', 'budget', 'scheduled', 'targeted', 'estimates', 'forecasts', 'intends', 'anticipates', 'projects', 'potential', 'believes' or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'should', 'might' or 'will be taken', 'occur' or 'be achieved' or the negative connotation of such terms. Forward-looking statements in this news release include, among others, statements with respect to: guidance for production, total cash costs and all-in sustaining costs, and the factors contributing to those expected results, as well as expected capital and other expenditures; planned activities for 2016 and beyond at the Company's projects; the expected production, costs, economics and operating parameters of the Rainy River project; targeting timing for development and other activities related to the Rainy River project; and statements with respect to the payment of the remaining $75 millionfrom Royal Gold.

All forward-looking statements in this news release 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 beyond New Gold's ability to control or predict. Certain material assumptions regarding such forward-looking statements are discussed in this news release, New Gold's annual and quarterly management's discussion and analysis ('MD&A'), its Annual Information Form and its Technical Reports filed at www.sedar.com. In addition to, and subject to, such assumptions discussed in more detail elsewhere, the forward-looking statements in this news release are also subject to the following assumptions: (1) there being no significant disruptions affecting New Gold's operations; (2) political and legal developments in jurisdictions where New Gold operates, or may in the future operate, being consistent with New Gold's current expectations; (3) the accuracy of New Gold's current mineral reserve and mineral resource estimates; (4) the exchange rate between the Canadian dollar, Australian dollar, Mexican peso and U.S. dollar being approximately consistent with current levels; (5) prices for diesel, natural gas, fuel oil, electricity and other key supplies being approximately consistent with current levels; (6) equipment, labour and materials costs increasing on a basis consistent with New Gold's current expectations; (7) arrangements with Indigenous groups in respect of the Rainy River and Blackwater projects being consistent with New Gold's current expectations; (8) all required permits, licenses and authorizations being obtained from the relevant governments and other relevant stakeholders within the expected timelines; (9) the results of the feasibility study for the Rainy River project being realized; (10) in the case of all-in sustaining cost outlooks at the Rainy River project, the assumed exchange rate being C$1.25/US$; and (11) conditions to the payment of the remaining $75 millionfrom Royal Goldbeing satisfied later in 2016.

Forward-looking statements are necessarily based on estimates and assumptions 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 and the availability and management of capital resources; additional funding requirements; price volatility in the spot and forward markets for metals and other commodities; fluctuations in the international currency markets and in the rates of exchange of the currencies of Canada, the United States, Australiaand Mexico; discrepancies between actual and estimated production, between actual and estimated mineral reserves and mineral resources and between actual and estimated metallurgical recoveries; changes in national and local government legislation in Canada, the United States, Australiaand Mexicoor 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 in which New Gold operates, including, but not limited to: in Canada, obtaining the necessary permits for the Rainy River, New Afton C-zone and Blackwater projects; and in Mexico, where Cerro San Pedro has a history of ongoing legal challenges related to our environmental authorization; the lack of certainty with respect to 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 New Gold is or may become a party to; diminishing quantities or grades of reserves and resources; competition; loss of key employees; rising costs of labour, supplies, fuel and equipment; actual results of current exploration or reclamation activities; uncertainties inherent to mining economic studies including the feasibility studies for the Rainy River, New Afton C-zone and Blackwater projects; the uncertainty with respect to prevailing market conditions necessary for a positive development decision at Blackwater; 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; unexpected delays and costs inherent to consulting and accommodating rights of Indigenous groups; risks, uncertainties and unanticipated delays associated with obtaining and maintaining necessary licenses, permits and authorizations and complying with permitting requirements, including those associated with the environmental assessment process for Blackwater. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental events and 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.

TECHNICAL INFORMATION

The scientific and technical information in this news release has been reviewed and approved by Mark A. Petersen, Vice President, Exploration of New Gold. Mr. Petersen is a SME Registered Member, AIPG Certified Professional Geologist and a 'Qualified Person' as defined under National Instrument 43-101.

For additional technical information on New Gold's material properties, including a detailed breakdown of Mineral Reserves and Mineral Resources by category, as well as key assumptions, parameters and risks, refer to New Gold's Annual Information Form for the year ended December 31, 2015filed on www.sedar.com.

NON-GAAP MEASURES

(1) ALL-IN SUSTAINING COSTS AND SUSTAINING COSTS
'All-in sustaining costs' per ounce is a non-GAAP financial measure. Consistent with guidance announced in 2013 by the World Gold Council, an association of various gold mining companies from around the world of which New Gold is a member, New Gold defines 'all-in sustaining costs' per ounce as the sum of total cash costs, capital expenditures that are sustaining in nature, corporate general and administrative costs, capitalized and expensed exploration that is sustaining in nature and environmental reclamation costs, all divided by the ounces of gold sold to arrive at a per ounce figure. New Gold believes this non-GAAP financial measure provides further transparency into costs associated with producing gold and assists analysts, investors and other stakeholders of the company in assessing the company's operating performance, its ability to generate free cash flow from current operations and its overall value. This data is furnished to provide additional information and is a non-GAAP financial measure. All-in sustaining costs presented do not have a standardized meaning under IFRS and may not be comparable to similar measures presented by other mining companies. It should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and is not necessarily indicative of cash flow from operations under IFRS or operating costs presented under IFRS. Further details regarding historical all-in sustaining costs and a reconciliation to the nearest IFRS measures are provided below and in the MD&A accompanying New Gold's financial statements filed from time to time on www.sedar.com.

'Sustaining costs' is a non-GAAP financial measure. New Gold defines sustaining costs as the difference between all-in sustaining costs and total cash costs, being the sum of capital expenditures that are sustaining in nature, corporate general and administrative costs, capitalized and expensed exploration that is sustaining in nature, and environmental reclamation costs. Management uses sustaining costs to understand the aggregate net result of the drivers of all-in sustaining costs other than total cash costs. The line items between cash costs and all in sustaining costs in the tables below break down the components of sustaining costs. Sustaining costs is intended to provide additional information only and does not have any standardized meaning under IFRS and may not be comparable to similar measures presented by other mining companies. It should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.

(2) TOTAL CASH COSTS
'Total cash costs' per ounce is a non-GAAP financial measure which is calculated in accordance with a standard developed by The Gold Institute, a worldwide association of suppliers of gold and gold products that ceased operations in 2002. 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 costs on a sales basis. The company believes that certain investors use this information to evaluate the company's performance and ability to generate liquidity through operating cash flow to fund future capital expenditures and working capital needs. This measure, along with sales, is considered to be a key indicator of the company's ability to generate operating earnings and cash flow from its mining operations. Total cash costs include mine site operating costs such as mining, processing and administration costs, royalties, production taxes, and realized gains and losses on fuel contracts, but are exclusive of amortization, reclamation, capital and exploration costs and net of by-product sales. Total cash costs are then divided by ounces of gold sold to arrive at a per ounce figure. Co-product cash costs remove the impact of other metal sales that are produced as a by-product of gold production and apportion the cash costs to each metal produced on a percentage of revenue basis, and subsequently divides the amount by the total ounces of gold or silver or pounds of copper sold, as the case may be, to arrive at per ounce or per pound figures. Unless otherwise indicated, all total cash cost information in this news release is net of by-product sales. This data is furnished to provide additional information and is a non-GAAP financial measure. Total cash costs and co-product cash costs presented do not have a standardized meaning under IFRS and may not be comparable to similar measures presented by other mining companies. It should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and is not necessarily indicative of cash flow from operations under IFRS or operating costs presented under GAAP. Further details regarding historical total cash costs and a reconciliation to the nearest IFRS measures are provided below and in the MD&A accompanying New Gold's financial statements filed from time to time on www.sedar.com.

TOTAL CASH COSTS AND ALL-IN SUSTAINING COSTS RECONCILIATION

Three months ended June 30

Six months ended June 30

(in millions of U.S. dollars, unless otherwise noted)

2016

2015

2016

2015

Operating expenses

$84.7

$98.2

$166.6

$197.8

Treatment and refining charges on concentrate sales

3.8

8.5

7.3

15.9

Adjustments

0.6

1.0

(0.2)

1.7

Total cash costs before by-product revenue

89.1

107.7

173.7

215.4

By-product copper and silver sales

(55.1)

(71.7)

(109.3)

(134.5)

Total cash costs net of by-product revenue

34.0

36.0

64.4

80.9

Gold ounces sold

101,820

87,754

187,851

180,152

Total cash costs per gold ounce sold ($/ounce)

$334

$410

$343

$449

Total cash costs per gold ounce sold on a co-product basis ($/ounce)

$609

$704

$625

$717

Total cash costs net of by-product revenue

34.0

36.0

64.4

80.9

Sustaining capital expenditure

27.1

35.7

49.5

75.0

Sustaining exploration - expensed

1.8

1.2

4.2

1.6

Corporate G&A including share-based compensation

8.7

7.1

17.4

15.1

Reclamation expenses

1.3

0.9

2.4

2.0

Total all-in sustaining costs

72.9

80.9

137.9

174.6

All-in sustaining costs per gold ounce sold ($/ounce)

$717

$922

$736

$969

All-in sustaining costs per gold ounce sold on a co-product basis ($/ounce)

$871

$1,007

$885

$1,038

(3) CASH GENERATED FROM OPERATIONS BEFORE CHANGES IN WORKING CAPITAL
'Cash generated from operations before changes in working capital' is a non-GAAP financial measures with no standard meaning under IFRS, which exclude changes in non-cash operating working capital. Management uses this measure to evaluate the Company's ability to generate cash from its operations before temporary working capital changes.

CASH GENERATED FROM OPERATIONS BEFORE CHANGES IN WORKING CAPITAL RECONCILIATION

Three months ended June 30

Six months ended June 30

(in millions of U.S. dollars)

2016

2015

2016

2015

Cash generated from operations

$79.2

$56.9

$140.7

$126.7

Add back (deduct): Change in non-cash operating working capital

3.2

5.8

3.8

3.4

Cash generated from operations before changes in non-cash working capital

82.4

62.7

144.5

130.1

(4) ADJUSTED NET (LOSS)/EARNINGS
'Adjusted net (loss)/earnings' and 'adjusted net (loss)/earnings per share' are non-GAAP financial measures. Net (loss)/earnings have been adjusted and tax affected for the group of costs in 'Other gains and losses' on the condensed consolidated income statement. The adjusted entries are also impacted for tax to the extent that the underlying entries are impacted for tax in the unadjusted net (loss)/earnings from continuing operations. The company uses this measure for its own internal purposes. Management's internal budgets and forecasts and public guidance do not reflect fair value changes on senior notes and non-hedged derivatives, foreign currency translation and fair value through profit or loss and financial asset gains/losses.

Consequently, the presentation of adjusted net earnings and adjusted net earnings per share enables investors and analysts to better understand the underlying operating performance of our core mining business through the eyes of management. Management periodically evaluates the components of adjusted net earnings and adjusted net earnings per share based on an internal assessment of performance measures that are useful for evaluating the operating performance of our business and a review of the non-GAAP measures used by mining industry analysts and other mining companies. Adjusted net (loss)/earnings and adjusted net (loss)/earnings per share are intended to provide additional information only and do not have any standardized meaning under IFRS and may not be comparable to similar measures presented by other companies. They should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. The measures are not necessarily indicative of operating profit or cash flows from operations as determined under IFRS.

ADJUSTED NET EARNINGS RECONCILIATION

Three months ended June 30

Six months ended June 30

(in millions of U.S. dollars, except per share amounts)

2016

2015

2016

2015

Net (loss) earnings before taxes

($3.0)

$10.3

$18.2

($26.7)

Other losses (gains)

22.7

(10.5)

1.0

20.9

Inventory write-down

(0.7)

(0.6)

-

(0.8)

Adjusted net earnings (loss) before tax

19.0

(0.8)

19.2

(6.6)

Income tax expense

(5.8)

(0.9)

(0.2)

(7.7)

Income tax adjustments

0.5

0.4

(5.6)

7.9

Adjusted income tax (expense) recovery

(5.3)

(0.5)

(5.8)

0.2

Adjusted net earnings (loss)

13.7

(1.3)

13.4

(6.4)

Adjusted earnings (loss) per share (basic)

0.03

-

0.03

(0.01)

Adjusted effective tax rate

28%

68%

30%

(2%)

(5) AVERAGE REALIZED PRICE
'Average realized price per ounce or pound sold' is a non-GAAP financial measure with no standard meaning under IFRS. Management uses this measure to better understand the price realized in each reporting period for gold, silver, and copper sales. Average realized price is intended to provide additional information only and does not have any standardized definition under IFRS; it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate this measure differently and this measure is unlikely to be comparable to similar measures presented by other companies.

(6) OPERATING MARGIN
'Operating margin' is a non-GAAP financial measure with no standard meaning under IFRS, which management uses to evaluate the Company's aggregated and mine-by-mine contribution to net earnings before non-cash depreciation and depletion charges.

OPERATING MARGIN RECONCILIATION

Three months ended June 30

Six months ended June 30

(in millions of U.S. dollars)

2016

2015

2016

2015

Revenues

$180.3

$167.7

$334.8

$336.6

Less: Operating expenses

(84.7)

(98.2)

(166.6)

(197.8)

Operating margin

95.6

69.5

168.2

138.8

CONDENSED CONSOLIDATED INCOME STATEMENTS (unaudited)

Three months ended June

Six months ended June

(in millions of U.S. dollars, except per share amounts)

2016

2015

2016

2015

Revenues

180.3

167.7

334.8

336.6

Operating expenses

84.7

98.2

166.6

197.8

Depreciation and depletion

62.3

50.9

119.9

106.0

Earnings from mine operations

33.3

18.6

48.3

32.8

Corporate administration

5.9

5.5

11.6

11.5

Share-based payment expenses

2.8

1.9

5.8

4.0

Exploration and business development

2.0

1.2

4.5

2.3

Earnings from operations

22.6

10.0

26.4

15.0

Finance income

0.2

0.4

0.5

0.6

Finance costs

(3.1)

(10.6)

(7.7)

(21.4)

Other (losses) gains

(22.7)

10.5

(1.0)

(20.9)

(Loss) earning before taxes

(3.0)

10.3

18.2

(26.7)

Income tax expense

(5.8)

(0.9)

(0.2)

(7.7)

Net (loss) earnings

(8.8)

9.4

18.0

(34.4)

(Loss) earnings per share

Basic

(0.02)

0.02

0.04

(0.07)

Diluted

(0.02)

0.02

0.04

(0.07)

Weighted average number of shares outstanding (in millions)

Basic

511.2

509.1

510.4

508.8

Diluted

511.2

509.8

511.6

508.8

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (unaudited)

As at June 30

As at December 31

(in millions of U.S. dollars)

2016

2015

ASSETS

Current assets

Cash and cash equivalents

219.5

335.5

Trade and other receivables

106.0

109.0

Inventories

141.0

145.9

Current income tax receivable

13.7

19.2

Prepaid expenses and other

5.4

5.0

Total current assets

485.6

614.6

Non-current inventories

140.3

115.4

Mining interests

2,966.5

2,803.2

Deferred tax assets

177.7

138.9

Other

3.6

3.4

Total assets

3,773.7

3,675.5

LIABILITIES AND EQUITY

Current liabilities

Trade and other payables

160.0

141.1

Current income tax payable

3.6

6.2

Total current liabilities

163.6

147.3

Reclamation and closure cost obligations

72.4

67.5

Gold stream obligation

13.6

9.2

Provisions

207.3

147.6

Derivative liabilities

2.1

2.1

Long-term debt

788.5

787.6

Deferred tax liabilities

410.0

414.4

Other

0.2

0.2

Total liabilities

1,657.7

1,575.9

Equity

Common shares

2,854.2

2,841.0

Contributed surplus

100.8

102.3

Other reserves

(10.7)

2.6

Deficit

(828.3)

(846.3)

Total equity

2,116.0

2,099.6

Total liabilities and equity

3,773.7

3,675.5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (unaudited)

Three months ended June

Six months ended June

(in millions of U.S. dollars)

2016

2015

2016

2015

OPERATING ACTIVITIES

Net (loss) earnings

(8.8)

9.4

18.0

(34.4)

Adjustments for:

Foreign exchange losses (gains)

4.9

(4.2)

(29.0)

31.8

Reclamation and closure costs paid

-

(0.1)

(0.9)

(0.2)

Depreciation and depletion

62.6

50.7

120.2

105.8

Other non-cash adjustments

6.0

(0.6)

4.8

(5.2)

Income tax expense

5.8

0.9

0.2

7.7

Finance income

(0.2)

(0.4)

(0.5)

(0.6)

Finance costs

3.1

10.6

7.7

21.4

Unrealized loss on gold stream liability

10.4

-

25.5

-

83.8

66.3

146.0

126.3

Change in non-cash operating working capital

(3.2)

(5.8)

(3.8)

(3.4)

Income taxes (paid) refunded

(1.4)

(3.6)

(1.5)

3.8

Cash generated from operations

79.2

56.9

140.7

126.7

INVESTING ACTIVITIES

Mining interests

(138.2)

(73.9)

(245.6)

(143.1)

Government grant received

-

-

-

0.8

Proceeds from the sale of assets

-

-

(2.1)

-

Gold price option contract investment costs

0.6

0.6

1.1

0.6

Interest received

0.2

0.4

0.5

-

Cash used by investing activities

(137.4)

(72.9)

(246.1)

(141.7)

FINANCING ACTIVITY

Proceeds received from exercise of options and warrants

6.4

-

7.2

0.1

Financing initiation costs

-

-

(0.3)

-

Interest paid

(26.7)

(26.1)

(27.5)

(26.1)

Cash used by financing activities

(20.3)

(26.1)

(20.6)

(26.0)

Effect of exchange rate changes on cash and cash equivalents

(0.3)

3.1

10.0

(2.7)

Change in cash and cash equivalents

(78.8)

(39.0)

(116.0)

(43.7)

Cash and cash equivalents, beginning of period

298.3

365.8

335.5

370.5

Cash and cash equivalents, end of period

219.5

326.8

219.5

326.8

Cash and cash equivalents are comprised of:

Cash

154.2

232.8

154.2

232.8

Short-term money market instruments

65.3

94.0

65.3

94.0

219.5

326.8

219.5

326.8

SOURCE New Gold Inc.

For further information: Hannes Portmann, Executive Vice President, Business Development, Direct: +1 (416) 324-6014, Email: [email protected]

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New Gold Inc.

PRODUCTEUR
CODE : NGD
ISIN : CA6445351068
CUSIP : 644535106
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New Gold est une société de production minière d'or basée au Canada.

New Gold est productrice d'or, d'argent, de cuivre, de plomb et de zinc au Mexique et en Australie, en développement de projets d'argent, de cuivre et d'or au Bresil, au Canada et au Chili, et détient divers projets d'exploration au Canada.

Ses principaux projets en production sont PEAK MINES en Australie et CERRO SAN PEDRO, MESQUITE et CERRO SAN PEDRO au Mexique, ses principaux projets en développement sont AMAPARI au Bresil, NEW AFTON au Canada et EL MORRO au Chili et ses principaux projets en exploration sont 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 et RUDE CREEK au Canada et RIO FIGUEROA au Chili.

New Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 707,8 millions US$ (620,0 millions €).

La valeur de son action a atteint son plus haut niveau récent le 07 janvier 2011 à 9,99 US$, et son plus bas niveau récent le 20 mars 2020 à 0,39 US$.

New Gold possède 575 460 032 actions en circulation.

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13/11/2008(New Afton)Announces Revised New Afton Development Schedule and Third Q...
14/08/2008Announces Second Quarter Results & Management Appointment
14/05/2008First Quarter 2008 Financial Results
31/03/20082007 Financial Results, Project Cost Update and Project Upda...
13/11/2007Third Quarter 2007 Financial Results
Projets de New Gold Inc.
07/09/2016New Gold updates on the construction of its Rainy River proj...
27/04/2016New Gold delivers 2016 first quarter production at significa...
07/10/2014Chile's top court halts Goldcorp's El Morro mine
19/02/2014Marathon Drills New Gold Zone at Sprite Hitting 2.20 g/t Au ...
17/02/2014Safia Prospect - 30 Strike Kms of New Gold Targets
14/02/2014New Gold Files Technical Report for Rainy River Project
23/01/2014(Blackwater)New Gold Files Technical Report for Blackwater Project
21/01/2014Robex Resources inc./East Nampala: A Potential New Gold Zone
05/11/2013Virginia discovers a new gold-bearing corridor at Wabamisk a...
16/10/2013New Gold Successfully Completes Acquisition of Rainy River
28/08/2013(Cerro San Pedro)New Gold Announces Pit Wall Movement at Cerro San Pedro Mine
23/07/2013Significant New Gold Results in Auger Drilling at Balogo
18/06/2013New Gold Commences Formal Take-Over Bid to Acquire Rainy Riv...
31/05/2013New Gold Agrees to Acquire Rainy River Resources Growing Gol...
05/02/2013New Gold 2012 Operational Results Extend History of Deliveri...
21/01/2013Silver Predator Outlines Potential New Gold Systems at Taylo...
22/10/2012Rainy River Resources Identifies New Gold-Silver Zone One Ki...
25/09/2012Independence Gold Discovers New Gold Zone on the YCS Propert...
20/09/2012(Blackwater)New Gold Announces Preliminary Economic Assessment at Blackw...
19/09/2012Belvedere Resources Makes Significant New Gold Discovery on ...
12/09/2012Outstanding New Gold Results at Lorena Gold Project
20/08/2012Artemis Resources - Yandal New Gold Zones
27/07/2012Copper targets identified at Yellow Mountain
18/07/2012(Blackwater)New Gold Continues to Grow Blackwater Project's Gold Resourc...
27/06/2012(El Morro)Ontario Superior Court of Justice Rejects Barrick's El Morro...
23/04/2012Boungou Prospect - New Gold Discovery
18/04/2012(Blackwater)New Gold Provides Development and Exploration Update on New ...
18/04/2012(New Afton)New Gold Provides Development and Exploration Update on New ...
22/03/2012(Blackwater)New Gold Acquires Additional 223 Square Kilometres of Prospe...
08/03/2012discovery in the Hemlo Region of Ontario
09/01/2012Aurion Acquires New Gold Projects in Mexico
09/01/2012(El Morro)New Gold Provides Update on El Morro Project
21/12/2011(Blackwater)New Gold Closes Acquisition of Geo Minerals - Adds to Land P...
22/09/2011(Blackwater)New Gold Announces Significant Increase in Gold Resources at...
09/08/2011(Blackwater)New Gold Intersects 278 Metres of 2.8 Grams per Tonne Gold a...
27/06/2011(Blackwater)New Gold Announces Results for 22 Holes at Blackwater Projec...
15/06/2011(Blackwater)New Gold Targets Over 40,000 Metres of Drilling at Blackwat...
17/03/2011(El Morro)New Gold Announces Approval of El Morro Environmental Impact...
10/02/2011(El Morro)New Gold Announces Higher El Morro Reserves and Resources
02/02/2011(Amapari)New Gold Announces Highest GoldProduction and Lowest Cash Co...
02/02/2011(Mesquite)New Gold Announces Highest GoldProduction and Lowest Cash Co...
02/02/2011(Cerro San Pedro)New Gold Announces Highest GoldProduction and Lowest Cash Co...
04/12/2009(Cerro San Pedro)on Cerro San Pedro Mining Activities
03/03/2009(Cerro San Pedro)Reports Consolidated Reserve & Resource Statements
02/01/2009(Amapari) Places the Amapari Mine on Temporary Care and Maintenance
24/07/2008(New Afton)Announces Q2 Production, Cash Cost and New Afton Project Upd...
24/03/2008(New Afton) and Kamloops Division sign Participation Agreement with res...
09/01/2008(New Afton)Additional Caving Expertise Added David Nicholls Joins New A...
01/11/2007(Afton)New Afton Mine Permit Approved
19/09/2007ROCMEC INTERSECTS NEW GOLD ZONES AT ROCMEC 1
Communiqués de Presse de New Gold Inc.
27/07/2017New Gold Announces 2017 Second Quarter Results; Rainy River ...
27/07/2016New Gold reports 2Q loss
27/07/2016New Gold Delivers Higher 2016 Second Quarter Cash Flow and S...
26/01/2016Rising Equities Put a Dent in Gold
26/01/2016Should You Worry about Intermediate Gold Miners’ Liquidity?
26/01/2016AngloGold, Gold Fields Have Relatively Higher Financial Leve...
22/01/2016Gold Is on a Winning Streak as Global Markets Slump
21/01/2016How Do Intermediate Gold Miners Rank Based on Their Costs?
12/01/2016GLD Witnessed an Inflow: What Does It Mean for Investors?
12/01/2016Gold Miners’ Geographic Exposure Impacts Growth Prospects
12/01/2016Intermediate Gold Miners Fell in 2015 and Beyond
12/01/2016AngloGold, Gold Fields Have Relatively Higher Financial Leve...
07/01/2016How the Fed’s Decision and Oil Prices Are Impacting Gold
30/12/2015Exploring how Gold Investments Can Depend on Inflation
18/12/2015Aftermath of the Rate Hike: US Dollar Rose, Precious Metals ...
16/12/2015Gold Relaxes before the Fed Gives Its Verdict
28/10/20155:09 pm New Gold misses by $0.02, misses on revs; updates gu...
28/09/2015New Gold to discuss 2015 third quarter financial results on ...
14/09/2015New Gold provides Rainy River project development update and...
27/08/2015New Gold Announces Sale of El Morro Interest for $90 Million...
28/07/2015New Gold beats 2Q profit forecasts
22/07/2015Royal Gold Enters into $175M Agreement with New Gold - Analy...
21/07/2015Blues for the Yellow Metal: 3 Dull Gold Stocks - Analyst Blo...
21/07/2015This Stock Could Very Easily Triple Or Even Quadruple
20/07/2015Mid-Morning Market Update: Markets Mostly Flat; Morgan Stanl...
10/07/2015Why New Gold (NGD) Could Be Positioned for a Slump - Tale of...
29/04/20154:49 pm New Gold misses by $0.02, misses on revs
23/03/2015Increased Earnings Estimates Seen for New Gold (NGD): Can It...
17/03/2015New Gold (NGD): Strong Industry, Solid Earnings Estimate Rev...
19/02/2015New Gold Generates Record Cash Flow in 2014
10/02/2015New Gold to Discuss 2014 Fourth Quarter and Year-End Financi...
04/02/2015New Gold to Discuss Fourth Quarter and Full Year 2014 Operat...
04/02/2015New Gold Receives Environmental Approvals for Rainy River Pr...
04/02/2015New Gold Finishes 2014 Further Solidifying its Low-Cost Posi...
30/01/2015New Gold Receives Environmental Approvals for Rainy River Pr...
26/01/2015New Gold to Discuss Fourth Quarter and Full Year 2014 Operat...
20/01/2015The 15 Lowest Cost Producers Of Precious & Industrial Metals...
17/02/2014lodes discovered at Pampalo
06/02/2014New Gold Finishes 2013 with Lowest Costs in its History, Inc...
29/01/2014Bantou Project - New Gold Targets & Gold Nuggets
12/12/2013(Blackwater)New Gold Announces Blackwater Feasibility Study Results
21/10/2013(New Afton)New Gold Achieves Targeted Throughput Increase at New Afton ...
24/09/2013Randall Oliphant Elected New Chairman of World Gold Council
09/09/2013MedGold finds new gold zone at Boticas
09/08/2013New Gold Successfully Completes Offer with 97% of Rainy Rive...
25/07/2013New Gold Acquires 86% of Rainy River and Extends Offer to Au...
15/05/2013New Gold Eliminates Legacy Gold Hedges
06/05/2013Mineralised Structures Discovered - Bantou & Tankoro Prospec...
01/05/2013(New Afton)New Gold Announces 2013 First Quarter Results - Increases Go...
11/04/2013Natoougou Deposit - Significant New Gold Discovery
04/04/2013(Blackwater)New Gold Announces Increased Gold Resources at Blackwater Pr...
21/03/2013Anomalies Outlined at Yako, Burkina Faso
15/03/2013Prospect
28/01/2013Victoria Identifies New Gold Targets on the Dublin Gulch Pro...
08/11/2012New Gold Announces Pricing of $500 Million Senior Notes Offe...
08/11/2012New Gold Announces Launch of $500 Million Senior Notes Offer...
12/10/2012New Gold Announces Redemption of 5% Subordinated Convertible...
01/08/2012(New Afton)New Gold Achieves Strong Operational and Financial Performan...
26/07/2012Marathon Gold Discovers New Gold Bearing Quartz Veins in Ext...
03/07/2012Belvedere Resources Limited- New Gold Zone Intersected at Hi...
29/06/2012(New Afton)New Gold Announces Start of Production at New Afton Mine in ...
18/06/2012Anomalies Outlined at Sebba, Burkina Faso
27/04/2012Exciting New Gold Company
05/04/2012New Gold Announces Closing of $300 Million Senior Notes Offe...
03/04/2012New Gold Announces Pricing of $300 Million Senior Notes Offe...
27/03/2012New Gold Announces Launch of $300 Million Senior Notes Offer...
26/03/2012Targets Identified at Rattlesnake Hills Project
12/02/2012Crater Mountain - Extensive new gold mineralised zone
02/02/2012New Gold Announces Record Gold Production in 2011, 25% Incre...
02/02/2012New Gold Announces Record Gold Production in 2011, 25% Incre...
16/12/2011Shareholders of Silver Quest Resources Ltd. Approve Plan of ...
01/06/2011New Gold Closes Acquisition of Richfield
31/05/2011Richfield Securityholders Approve Arrangement Transaction In...
05/04/2011New Gold Agrees to Acquire Richfield Ventures Corp=2E - Adds...
01/12/2010New Gold Monetizes Equity Position in Beadell for Net Procee...
01/06/2009Completes Cdn$1.2 Billion Business Combination with Western ...
14/05/2009aims for major producer status - Midas Letter and Aheadofthe...
13/05/2009Shareholder Approval of Business Combination and Q1 Results
27/02/2009Winston updates New Gold
18/02/2009WTM Discovers Large New Gold System on Hwy 144 Property, Tim...
05/02/2009has a strong beta to gold says GoldSeek.com
16/01/2009Reinhard updates New Gold
09/01/2009Reduces Debt Position by C$50 Million
16/12/2008Shareholder Letter
03/12/2008Struthers has New Gold on his shopping list
03/09/2008Winston updates New Gold Inc.
08/08/2008Allan Barry Laboucan recommends New Gold Inc on BNN's "The S...
18/06/2008Shareholders of Metallica Resources, New Gold and Peak Gold ...
12/05/2008Metallica Resources, New Gold and Peak Gold Announce Signing...
09/05/2008Noteholders Extraordinary Resolution Passed - Meeting Cancel...
09/05/2008Noteholders approve indenture changes
25/04/2008Meeting of the Noteholders Called
31/03/2008Announce Proposed US$1.6 Billion Business Combination to
25/03/2008, Abacus Mining and Exploration Corp. and Teck Cominco Limit...
30/10/2007 Sign Letters of Intent to Ensure Co-Operation
25/10/2007 Completes Acquisisiton of New Afton Surface Rights
30/07/2007Exercise of Over-Allotment Option, Gross Proceeds of Offerin...
06/07/2007Another Milestone in Development of New Afton Project, EP Co...
28/06/2007Announces Closing of Financing Gross Proceeds of C$375 Milli...
14/06/2007Announces Pricing of C$275 Million Debt Financing
30/05/2007Announces Terms of Underwritten Offering
30/05/2007Prospectus Filed For Financing to Fund Development of New Af...
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