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    NGD   CA6445351068

NEW GOLD INC.

(NGD)
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Delayed Toronto Stock Exchange  -  04:00 2022-06-24 pm EDT
1.540 CAD   +4.05%
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New Gold Completes Redemption Of Its Remaining Outstanding 6.375% Senior Notes

05/16/2022 | 04:31pm EDT

New Gold Inc. logo (CNW Group/New Gold Inc.)

TORONTO, May 16, 2022 /CNW/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) announces completion of the previously announced redemption of its outstanding $100 million aggregate principal amount of its 6.375% Senior Notes due 2025 (the "2025 Notes"). The redemption of the 2025 Notes was funded with cash on hand. Following the completion of the redemption, the Company has approximately $326 million of cash1 and a strong liquidity position of approximately $702 million2.

Endnotes

  1. Based on cash and equivalents as at March 31, 2022 of $432 million less redemption principal, redemption premium, and accrued interest.
  2. Approximately $24 million of the Company's $400 million credit facility is currently used for Letters of Credit related to mine closure costs.

About New Gold
New Gold is a Canadian-focused intermediate mining company with a portfolio of two core producing assets in Canada, the Rainy River gold mine and the New Afton copper-gold mine. The Company also holds a 5% equity stake in Artemis Gold Inc., and other Canadian-focused investments. New Gold's vision is to build a leading diversified intermediate gold company based in Canada that is committed to the environment and social responsibility. For further information on the Company, visit www.newgold.com

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SOURCE New Gold Inc.

© Canada Newswire, source Canada Newswire English

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Financials (USD)
Sales 2022 748 M - -
Net income 2022 59,8 M - -
Net Debt 2022 50,8 M - -
P/E ratio 2022 14,0x
Yield 2022 -
Capitalization 813 M 813 M -
EV / Sales 2022 1,16x
EV / Sales 2023 0,94x
Nbr of Employees -
Free-Float 99,7%
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Mean consensus HOLD
Number of Analysts 12
Last Close Price 1,19 $
Average target price 1,98 $
Spread / Average Target 66,2%
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Managers and Directors
Renaud Adams President, Chief Executive Officer & Director
Robert J. Chausse Chief Financial Officer & Executive Vice President
Ian Wilton Pearce Independent Non-Executive Chairman
Patrick Godin Chief Operating Officer & Executive Vice President
Marilyn Schonberner Independent Director
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