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New Gold ( (TSE:NGD) ) has shared an update.
New Gold Inc. has announced mine life extensions for its New Afton and Rainy River mines, projecting strong free cash flow over the next three years. The company has increased its mineral reserves, particularly at New Afton, with significant improvements in both copper and gold reserves without additional capital costs. The expansion at Rainy River is set to extend the open pit mine life, ensuring continuous mill operations until 2029. These developments are expected to increase production, reduce costs, and support long-term growth opportunities, thereby strengthening New Gold’s market position.
More about New Gold
New Gold Inc. is a mining company focused on the production of gold and copper. It operates the New Afton and Rainy River mines, striving to extend mine life and enhance production efficiency while maintaining low operating costs.
YTD Price Performance: 14.89%
Average Trading Volume: 9,800,425
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $2.47B
See more insights into NGD stock on TipRanks’ Stock Analysis page.
