New Gold Inc. /FI (NGD) Company Report

New Gold Inc. entered into a definitive arrangement agreement on November 2, 2025, for its acquisition by Coeur Mining, Inc. and its wholly-owned subsidiary, 1561611 B.C. Ltd..
Under the terms of the transaction, New Gold shareholders will receive 0.4959 shares of common stock of Coeur for each New Gold Common Share held.
Upon completion of the transaction, existing Coeur stockholders and New Gold shareholders will own approximately 62% and 38%, respectively, of the outstanding common stock of the combined company.
New Gold Options, deferred share units (DSUs), and performance share units (PSUs) will be fully vested and cancelled in exchange for a cash payment from New Gold.

Nov 13, 2025, 2:27 AM

6-K

Newcore Gold Announces Drill Results from Enchi Gold Project

NGD

New Projects/Investments

Newcore Gold Ltd. announced additional drill results from its 45,000-metre drill program at the Kwakyekrom Gold Deposit within the Enchi Gold Project in Ghana, with all 24 reported RC holes intersecting gold mineralization.
Key intersections include 1.08 g/t Au over 22.0 m (including 2.78 g/t Au over 7.0 m) in hole KKRC099 and 1.29 g/t Au over 15.0 m in hole KKRC085A.
These results are located outside the current pit-constrained Mineral Resource Estimate at Kwakyekrom, indicating potential for future resource growth at the project.
The company is advancing the Enchi Gold Project towards a Pre-Feasibility Study in H1 2026.

Nov 4, 2025, 11:20 AM

Press Release

New Gold Inc. to be acquired by Coeur Mining, Inc.

NGD

M&A

Takeover Bid

Coeur Mining, Inc. will acquire New Gold Inc. through a court-approved plan of arrangement, offering 0.4959 shares of Coeur common stock for each New Gold common share, representing a 16% premium to New Gold's closing price on October 31, 2025.
The transaction implies a total equity value of approximately $7 billion for New Gold, leading to a pro forma combined equity market capitalization of approximately $20 billion.
Upon completion, existing Coeur stockholders will own approximately 62% and New Gold shareholders approximately 38% of the combined company.
The combined company is expected to generate approximately $3 billion of EBITDA and $2 billion of free cash flow in 2026.
The transaction is expected to close in H1 2026, subject to shareholder and regulatory approvals, and has been unanimously approved by both companies' Boards of Directors.

Nov 3, 2025, 11:50 AM

6-K

New Gold Announces Acquisition by Coeur Mining

NGD

M&A

Board Change

Coeur Mining, Inc. will acquire New Gold Inc. for an implied consideration of $8.51 per New Gold common share, representing a 16% premium to New Gold's closing price on October 31, 2025.
New Gold shareholders will receive 0.4959 shares of Coeur common stock for each New Gold common share, resulting in New Gold shareholders owning approximately 38% of the combined company.
The combined entity is projected to generate approximately $3.0 billion of EBITDA and $2.0 billion of free cash flow in 2026, with an estimated production of 1.25 million gold equivalent ounces.
The transaction, which values New Gold at approximately $7 billion and creates a combined company with an estimated $20 billion market capitalization, is expected to close in H1 2026, pending shareholder and regulatory approvals.

Nov 3, 2025, 11:30 AM

Press Release

New Gold Inc. Reports Strong Third Quarter 2025 Results

NGD

Earnings

Guidance Update

Debt Issuance

New Gold Inc. reported record quarterly free cash flow of $205 million for Q3 2025, driven by record Rainy River production.
Consolidated gold production for Q3 2025 was 115,213 ounces and copper production was 12.0 million pounds, with all-in sustaining costs of $966 per gold ounce sold.
The company repaid $260 million of debt obligations during the quarter, including the $150 million drawn on the credit facility for the New Afton transaction, one quarter ahead of schedule.
New Gold Inc. is on-track to achieve its full-year 2025 guidance for consolidated gold and copper production, capital spending, and cash costs, with all-in sustaining costs expected at the top end of the guidance range.

Oct 28, 2025, 10:34 PM

6-K

New Gold Reports Record Q3 2025 Free Cash Flow and Reaffirms 2025 Guidance

NGD

Earnings

Guidance Update

M&A

New Gold Inc. achieved record free cash flow of $204.7 million in Q3 2025, a 225% quarter-over-quarter improvement, alongside revenue of $462.5 million and net earnings of $142.3 million for the quarter.
The company reaffirmed its 2025 operational outlook, reporting Q3 2025 consolidated production of 115,213 ounces of gold and 12.0 million pounds of copper. Gold production for the first nine months of 2025 reached approximately 71% of the midpoint of annual guidance.
The Rainy River mine significantly boosted production in Q3 2025, yielding 100,301 ounces of gold, a 63% increase over the prior quarter, and is projected to exceed the midpoint of its annual guidance range.
New Gold completed the acquisition of the remaining 19.9% free cash flow interest in New Afton from Ontario Teachers in May 2025 for $300.0 million, thereby consolidating 100% ownership of the New Afton mine.

Oct 28, 2025, 9:22 PM

6-K

New Gold Inc. Reports Strong Q3 2025 Results Driven by Record Production and Free Cash Flow

NGD

Earnings

Guidance Update

Debt Issuance

New Gold Inc. reported strong third quarter 2025 results, with record quarterly free cash flow of $205 million and cash flow from operations of $301 million.
Consolidated production for Q3 2025 was 115,213 ounces of gold and 12.0 million pounds of copper, with all-in sustaining costs of $966 per gold ounce sold.
Rainy River achieved record quarterly production of 100,301 ounces of gold, a 63% increase over the second quarter, contributing $183 million in free cash flow.
The company repaid $260 million of debt obligations during the quarter, including the full $150 million drawn on the credit facility ahead of schedule.
New Gold remains on track to achieve its full-year guidance for consolidated gold and copper production, with consolidated all-in sustaining costs expected to be at the top end of its guidance range.

Oct 28, 2025, 9:15 PM

Press Release

Newcore Gold Announces Proceeds from Warrant Exercises

NGD

New Projects/Investments

Newcore Gold Ltd. received approximately $3.8 million from the exercise of 9,558,578 common share purchase warrants that expired on September 26, 2025, at an exercise price of $0.40.
This funding, combined with the company's existing cash balance of approximately $10.1 million, will support a 35,000-metre drill program and development work for a Pre-Feasibility Study in H1 2026 for the Enchi Gold Project in Ghana.
Post-exercise, the company's share capital consists of 262,986,096 common shares issued and outstanding. An additional tranche of warrants, if fully exercised, could provide approximately $10.2 million in further funding.