New Gold Inc ( (NGD) ) has released its Q1 earnings. Here is a breakdown of the information New Gold Inc presented to its investors.
New Gold Inc. is a Canadian-focused intermediate mining company with two core producing assets in Canada, the New Afton copper-gold mine and the Rainy River gold mine. The company aims to be a valued intermediate gold and copper producer through profitable and responsible mining.
In its first quarter of 2025, New Gold Inc. reported solid financial and operational results, achieving key strategic milestones. The company increased its future free cash flow by consolidating its interest in New Afton to 100%, successfully refinanced its senior notes, and extended its credit facility. Additionally, the company released two new technical reports that outline strong production profiles with lower costs.
Key financial highlights include a consolidated production of 52,186 ounces of gold and 13.6 million pounds of copper, with all-in sustaining costs of $1,727 per gold ounce sold. New Afton’s production was particularly strong, contributing significantly to the company’s free cash flow. The Rainy River mine is on track for a production ramp-up in the second half of the year, following a focus on waste stripping in the first quarter.
The company generated $108 million in cash flow from operations and $25 million in free cash flow, highlighting its strong financial position. Strategic corporate activities included a $400 million senior notes offering and an agreement with Ontario Teachers’ Pension Plan to acquire the remaining interest in New Afton, fully consolidating its free cash flow interest.
Looking ahead, New Gold Inc. is on track to meet its 2025 production guidance and anticipates increased production and improved costs throughout the year. The company continues to advance exploration and technical studies to support long-term growth and extend mine life, positioning itself for future success.