Each one in plain English, with the numbers worked through for a shareholder.
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.
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.
Closed a strategic partnership with the Ontario Teachers' Pension Plan at the New Afton mine for US$300 million of upfront cash, taking total available liquidity to about US$590 million including US$390 million of cash. Ontario Teachers' took a free cash flow interest in the mine rather than lending against it.
27 Feb 2020capital raising announcement▲ GoodMajor
Agreed to sell Ontario Teachers' Pension Plan a 46.0% free cash flow interest in New Afton for US$300 million upfront, with an option after four years for Ontario Teachers' to convert to a 46.0% joint venture interest or stay at a reduced 42.5% free cash flow share. New Gold keeps operating control and used the money to cut net debt while developing C-Zone.
Closed the bought deal, issuing 93.75 million shares at C$1.60 for C$150 million, led by BMO Nesbitt Burns.
What it means for a shareholder
93.8m new shares at C$1.60 to raise about C$150m. That's 14% dilution: every existing holder's slice gets 14% smaller. If you held C$1,000 of shares (625 at the issue price), your slice goes from 0.000108% to 0.0000929% of the company. To keep it you'd need 101 more shares - about C$162 at the issue price.
Announced a bought deal of 93.75 million shares at C$1.60 for C$150 million, to be used for balance-sheet repair including debt repayment. The price is well below the US$2.80 raised in March 2017.
Announced a bought deal of 53.6 million shares at US$2.80 for about US$150 million, with a 15% over-allotment, to finish building Rainy River. Equity raised for a project whose cost estimate had risen five weeks earlier.
What it means for a shareholder
53.6m new shares at US$2.80 to raise about US$150m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
20 July 2015capital raising announcement● NeutralMajor
Sold a stream on Rainy River to Royal Gold's RGLD Gold AG for a US$175 million deposit, US$100 million at signing and US$75 million once 60% of development capital is spent. In exchange Royal Gold takes 6.50% of gold production to 230,000 ounces and 3.25% thereafter, plus 60% of silver to 3.1 million ounces and 30% thereafter. Development capital raised by selling future metal rather than equity or debt.
