New Gold Inc T.NGD

Alternate Symbol(s): NGD

New Gold Inc. is a Canadian intermediate gold mining company with a portfolio of two core producing assets in Canada, namely the Rainy River gold mine and the New Afton copper-gold mine. The Company also holds other Canadian-focused investments. The Company is engaged in the acquisition, exploration and development of natural resource properties. Rainy River is a gold mine located in Northwestern Ontario, Canada, approximately 65 kilometers (km) northwest of Fort Frances, Ontario. The New Afton mine is located approximately 10 km west of Kamloops, approximately 350 km northeast of Vancouver, British Columbia, Canada.

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New Gold Inc

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Post by Reachmeon Aug 11, 2021 6:50am

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Post# 33683602

Consolidated Financial Highlights

Revenues for the quarter were $198 million and $363 million for the six-month period ended June 30, 2021, an increase compared to the prior-year periods due to higher sales volumes and higher gold and copper prices.
Operating expenses for the quarter and six-month period ended June 30, 2021, were higher than the prior-year periods due to the strengthening of the Canadian dollar, costs related to the ramp-up of operations at New Afton in the first quarter, and the prior-year benefitting from the Canada Emergency Wage Subsidy.
Net loss for the quarter was $16 million ($0.02 per share) and net earnings were $1.0 million ($nil per share) for the six-month period ended June 30, 2021, an improvement compared to the prior-year periods primarily due to higher revenue, partially offset by higher operating expenses, the loss on revaluation of the New Afton free cash flow interest obligation, and the loss on the revaluation of investments. Additionally, the prior-year period included an impairment loss on the reclassification of Blackwater as an asset held for sale.
Adjusted net earnings2 for the quarter were $27 million ($0.04 per share) and $35 million ($0.05 per share) for the six-month period ended June 30, 2021, an increase compared to the prior-year periods primarily due to higher revenues partially offset by higher costs.