Loading ...New Gold Announces 2018 Second Quarter Results and Updates 2018 Outlook
07/25/2018
download the pdf (PDF 575 KB)
(All dollar figures are in US dollars unless otherwise indicated)
TORONTO, July 25, 2018 /PRNewswire/ – New Gold Inc. (“New Gold” or the “Company”) (TSX:NGD) (NYSE American:NGD) today announces its 2018 second quarter results and updated 2018 outlook. Unless otherwise noted, all operating and financial results have been presented on a continuing basis and exclude Peak Mines, which has been classified as a discontinued operation and was sold in April 2018.
2018 Second Quarter Highlights
Gold production of 108,550 ounces and copper production of 20.4 million pounds
Operating expense of $680 per gold ounce and $1.67 per copper pound
All-in sustaining costs(1) of $877 per ounce, including total cash costs(2) of $453 per ounce
Operating cash flows generated from continuing operations of $66 million, or $0.11 per share
Loss from continuing operations of $302 million, or $0.52 per share, including an impairment loss, net of tax of $282 million, or $0.49 per share
June 30, 2018 total liquidity of $270 million, including cash and cash equivalents of $167 million
Updated 2018 outlook: 415,000 to 480,000 ounces of gold production (previously 525,000 to 595,000 ounces of gold) at all-in sustaining costs of $1,080 to $1,120 per ounce (previously $860 to $900 per ounce)
Rainy River updated life-of-mine plan completed, NI 43-101 Technical Report will be released in early August