PR Newswire
TORONTO, Feb. 13, 2024
Achieves Top End of Consolidated Production Guidance and Midpoint of All-In Sustaining Cost Guidance
(All amounts are in U.S. dollars unless otherwise indicated)
TORONTO, Feb. 13, 2024 /PRNewswire/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) reports fourth quarter and full year 2023 results. Full year 2023 production totaled 423,517 gold equivalent1 ("gold eq.") ounces at all-in sustaining costs2 of $1,545 per gold eq. ounce, achieving the top end of the Company's 2023 gold equivalent production guidance range. Another solid quarterly performance delivered strong cash flow from operations of $71 million and positive free cash flow, while still investing in and advancing growth projects that are expected to significantly increase production in the coming years.
Focus on Operational Excellence Leads to Achieving 2023 Production and Cost Guidance Ranges
"2023 was a successful year for New Gold. We executed on our key priority of stabilizing our operations and delivered consistent results throughout the year," stated Patrick Godin, President and CEO. "As a result, New Gold achieved the top end of its 2023 gold equivalent production guidance, and the midpoint of all-in sustaining cost guidance set out at the start of 2023. The Company was able to once again demonstrate the free cash flow generation potential in the fourth quarter, despite the capital investment in our projects."
2024 an Inflection Point as Growth Projects Set for Completion, Company Expected to Enter Prolonged Free Cash Flow Generation Period in the Second Half of the Year
"Last week we outlined our Operational Outlook for the next three years highlighting an approximately 35% increase in gold production and approximately 60% increase in copper production by 2026. As we work towards completing our growth projects this year, the reduction in operating costs and capital expenditures should see consistent free cash flow generation commencing in the second half of this year. This free cash flow growth is expected to increase over the next three years in-line with our increasing production profiles. We have reached the free cash flow inflection point, and I look forward to sharing progress throughout the year," added Mr. Godin.
Consolidated Financial Highlights
| Q4 2023 | Q4 2022 | FY 2023 | FY 2022 |
Revenue ($M) | 199.2 | 162.8 | 786.5 | 604.4 |
Operating expenses ($M) | 120.8 | 108.5 | 450.4 | 382.7 |
Net (loss) earnings ($M) | (27.4) | (16.9) | (64.5) | (66.8) |
Net (loss) earnings per share ($) | (0.04) | (0.02) | (0.09) | (0.10) |
Adj. net (loss) earnings ($M)2 | (4.7) | (6.3) | 48.4 | (26.1) |
Adj. net (loss) earnings, per share ($)2 | (0.01) | (0.01) | 0.07 | (0.04) |
Cash generated from operations ($M) | 70.6 | 31.9 | 287.6 | 190.7 |
Cash generated from operations, per share ($) | 0.10 | 0.05 | 0.42 | 0.28 |
Cash generated from operations, before changes in non-cash operating working capital ($M)2 | 64.9 | 44.3 | 293.4 | 181.6 |
Cash generated from operations, before changes in non-cash operating working capital, per share ($)2 | 0.09 | 0.06 | 0.43 | 0.27 |
Consolidated Operational Highlights
| Q4 2023 | Q4 2022 | FY 2023 | FY 2022 |
Gold eq. production (ounces)1,3 | 105,082 | 97,824 | 423,517 | 347,054 |
Gold eq. sold (ounces)1,3 | 103,504 | 95,161 | 415,181 | 342,839 |
Gold production (ounces)3 | 79,187 | 80,694 | 321,178 | 271,373 |
Gold sold (ounces)3 | 77,870 | 78,507 | 319,116 | 269,147 |
Copper production (Mlbs)3 | 12.0 | 6.9 | 47.4 | 31.1 |
Copper sold (MIbs)3 | 11.9 | 6.8 | 44.4 | 30.2 Werbung Mehr Nachrichten zur New Gold Inc Aktie kostenlos abonnieren
E-Mail-Adresse
Bitte überprüfe deine die E-Mail-Adresse.
Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News |