Past year: ▲ 129%(5.32 – 18.32 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
23 Mar 2026business combination● NeutralMajor
The Coeur arrangement closed. New Gold shareholders received 0.4959 Coeur shares for each New Gold share, and New Gold was delisted from the TSX and NYSE American and will cease to be a reporting issuer. Fourteen years of cached history end here, with holders carried into Coeur stock rather than cashed out.
30 Jan 2026business combination● Neutral
The Supreme Court of British Columbia granted the final order approving the arrangement, leaving Investment Canada Act approval and customary conditions before closing, then expected in the first half of 2026.
28 Jan 2026business combination● NeutralMajor
New Gold shareholders approved the Coeur arrangement with 99.22% of votes cast in favour, 476.1 million for against 3.7 million against, with the same result among minority holders under MI 61-101. Coeur shareholders approved at their own meeting the same day.
20 Jan 2026business combination● Neutral
Glass Lewis also recommended New Gold shareholders vote for the Coeur arrangement, and separately recommended Coeur shareholders approve the related share issuance.
16 Jan 2026production update▲ GoodMajor
Met 2025 production guidance across every operation, with fourth-quarter output of 107,778 ounces of gold and 11.0 million pounds of copper generating US$240 million of quarterly free cash flow and over US$532 million for the year. The recordable injury frequency rate fell 10% to 0.65, the company's lowest.
13 Jan 2026business combination● Neutral
ISS recommended New Gold shareholders vote for the Coeur arrangement, alongside the board's own unanimous recommendation.
3 Nov 2025business combination● NeutralMajor
Coeur Mining agreed to acquire New Gold in an all-share plan of arrangement at 0.4959 Coeur shares per New Gold share, implying US$8.51 a share and about US$7 billion of equity value, a 16% premium to the 31 October close. The combined company would hold seven North American operations with roughly US$3 billion of expected 2026 EBITDA. After thirteen years of selling assets to fund Rainy River and New Afton, New Gold itself is the asset being sold.
8 Sept 2025drilling progress report▲ GoodMajor
Exploration more than doubled the known extent of the K-Zone system at New Afton, now about 600 metres of strike and 900 metres vertically, with new mineralisation 550 metres further east from surface holes. At Rainy River, surface drilling extended the NW Trend and infill work was converting inferred resources ahead of the year-end reserve statement.
11 June 2025debt financing▲ GoodMajor
Called the remaining US$111 million of 7.50% 2027 notes for redemption on 15 July, funded from the March issue proceeds and cash, completing the refinancing. New Gold's only debt issue is now the US$400 million 6.875% due 2032.
2 May 2025asset acquisition disposition▲ GoodMajor
Closed the buy-back of Ontario Teachers' last 19.9% free cash flow interest in New Afton and terminated all agreements with them, leaving New Gold with 100% of the mine's cash flow.
7 Apr 2025asset acquisition disposition● NeutralMajor
Agreed to buy Ontario Teachers' remaining 19.9% free cash flow interest in New Afton for US$300 million, funded from cash, the revolver and a gold prepayment, taking New Gold to 100%. With the US$255 million paid in May 2024, New Gold has now committed US$555 million to unwind a partnership that raised US$300 million in 2020, just as C-Zone reaches full production.
20 Mar 2025debt financing● Neutral
The trust indenture for the 6.875% senior notes due 2032, dated 18 March 2025, between New Gold and Computershare as trustee. Unlike the 2017 and 2020 indentures, this one names no subsidiary guarantors.
14 Mar 2025debt financing● Neutral
The tender closed with US$288,843,000 of the US$400 million tendered, 72.21% of the issue, leaving about US$111 million outstanding to be dealt with by redemption.
4 Mar 2025debt financing▲ GoodMajor
Priced the new notes at US$400 million of 6.875% due 2032, closing about 18 March, refinancing the 7.50% 2027 notes at a 62.5 basis point saving and five years further out.
4 Mar 2025debt financing● Neutral
Launched a US$400 million senior note offering to fund a tender for the 7.50% notes due 2027, with anything left outstanding to be redeemed at par around 15 July 2025.
4 Mar 2025debt financing● Neutral
Opened a cash tender offer for any and all of the US$400 million of 7.50% notes due 2027 at US$1,008.00 per US$1,000 plus accrued interest, conditional on the new note offering completing.
13 Feb 2025resource reserve update▲ GoodMajor
Extended the mine life at both New Afton and Rainy River, filed updated technical reports for each and published reserves and resources as at 31 December 2024, alongside a three-year operational outlook and free cash flow profile.
13 Feb 2025resource reserve update● NeutralMajor
The New Afton technical report as at 31 December 2024 puts proven and probable reserves at 39.6 million tonnes at 0.65 g/t gold, 1.8 g/t silver and 0.72% copper, for 828,000 ounces of gold, 2.253 million ounces of silver and 631 million pounds of copper. Almost all of it, 37.7 million tonnes, is C-Zone; East Extension carries only 962,000 tonnes but at 1.31 g/t gold and 1.63% copper.
13 Feb 2025resource reserve update● NeutralMajor
The Rainy River technical report as at 31 December 2024 puts proven and probable reserves at 52.9 million tonnes at 1.25 g/t gold and 3.25 g/t silver, for 2.126 million ounces of gold and 5.535 million ounces of silver, priced at US$1,650 gold. Of that, 20.8 million tonnes at 0.88 g/t is open pit, 16.4 million tonnes at 2.54 g/t is underground and 15.7 million tonnes at 0.38 g/t is stockpile.
17 Sept 2024drilling result▲ GoodMajor
Further drilling extended K-Zone and found new high-grade mineralisation at the HW Zone in the eastern part of the New Afton mine, which management described as a possible new high-grade mining area alongside the existing East Extension resource, again above the C-Zone extraction level and close to infrastructure.
30 May 2024drilling result▲ GoodMajor
Drilling from C-Zone infrastructure hit bornite-rich copper-gold porphyry in the K-Zone at New Afton, including 217 metres of core at 2.01% copper and 1.79 g/t gold, with an estimated true width of 40 metres. The zone sits above the C-Zone extraction level, which is what makes it interesting: existing infrastructure could reach it.
17 May 2024capital raising announcement● NeutralMajor
Closed the bought deal at 100,395,000 shares including the full over-allotment, at US$1.72 for gross proceeds of US$172.7 million, to help fund the Ontario Teachers' buy-back.
What it means for a shareholder
100m new shares at US$1.72 to raise about US$173m. That's 13% dilution: every existing holder's slice gets 13% smaller. If you held US$1,000 of shares (581 at the issue price), your slice goes from 0.0000846% to 0.0000738% of the company. To keep it you'd need 85 more shares - about US$146 at the issue price.
Create a free account to see this worked out for your own holding.
13 May 2024capital raising announcement● NeutralMajor
Agreed to buy back most of the Ontario Teachers' Pension Plan interest in New Afton, cutting the pension fund's free cash flow share from 46.0% to 19.9% for US$255 million, funded from cash, the revolver and a concurrent US$150 million bought deal. New Gold paid US$255 million to reverse most of a partnership that had brought in US$300 million four years earlier, timed just before C-Zone production.
2 Oct 2023production update▲ GoodMajor
New Afton completed the first draw bell at C-Zone on time and commissioned the last two of 29 dewatering wells at the tailings facility, the main work of the tailings stabilisation project. C-Zone, the fourth block cave at New Afton, stayed on track and on budget for commercial production in the second half of 2024.
7 Sept 2022drilling result▲ Good
Drilling in the upper East Extension at New Afton returned wide, high-grade copper-gold intervals including 56 metres at 1.37 g/t gold and 3.00% copper and 40 metres at 2.01 g/t gold and 2.08% copper. The zone had been outlined only two years earlier and sits close to existing underground infrastructure.
16 May 2022debt financing▲ GoodMajor
Completed the redemption of the last US$100 million of 6.375% notes due 2025, leaving about US$326 million of cash and roughly US$702 million of liquidity, of which about US$24 million of the US$400 million facility is used for letters of credit.
11 Apr 2022debt financing▲ GoodMajor
Called the last US$100 million of the 6.375% 2025 notes for redemption on 15 May, funded from cash, retiring that issue entirely. New Gold's only remaining notes are the US$400 million 7.50% due 2027.
1 Apr 2022resource reserve update▲ GoodMajor
The updated Rainy River technical report, effective 28 March 2022, extends the mine life to 2031 by converting a further 569,000 ounces in the underground main zones to reserves, and switches the remaining open pit to selective mining with stockpile blending before a batch-processing underground operation. Prepared at US$1,400 gold and US$19.00 silver.
22 Dec 2021asset acquisition disposition▲ GoodMajor
Closed the sale of the Blackwater gold stream to Wheaton Precious Metals for US$300 million, ending New Gold's remaining economic interest in the project it sold to Artemis in August 2020 apart from its Artemis shareholding.
14 Dec 2021asset acquisition disposition▲ GoodMajor
Agreed to sell the Blackwater gold stream to Wheaton Precious Metals for US$300 million cash, sixteen months after taking it as part-payment from Artemis for the project itself. Together with the C$190 million of cash from the 2020 sale, New Gold has now converted Blackwater largely into cash while Artemis carries the build.
