The document is a corporate presentation from New Gold that outlines its investment thesis. It discusses New Gold's portfolio of assets in top-rated jurisdictions, its invested and experienced team, and its track record of being among the lowest-cost gold producers. It also highlights New Gold's peer-leading growth pipeline, which is expected to deliver around 8% production growth in 2015. The presentation notes that New Gold has a history of value creation and that its share price has outperformed industry indexes since 2009.
2015 q3 earnings webcast v final (webcast)newgold2011
This document provides a summary of New Gold's third quarter 2015 results webcast. It discusses the following key points:
- Production results for the third quarter including 122,580 ounces of gold produced at total cash costs of $495 per ounce and all-in sustaining costs of $788 per ounce.
- Financial results for the third quarter and year-to-date including operating margin of $72 million, adjusted net loss of $9 million, and net cash generated from operations before changes in working capital of $58 million.
- Recent corporate developments that improved New Gold's financial position including the sale of a stream on Rainy River for $175 million and the sale of 30% interest in the El
- The corporate presentation discusses New Gold's portfolio of assets in top-rated jurisdictions including Canada, operational and financial results, and growth projects.
- New Gold has over 15 million ounces of gold reserves, with over 80% located in Canada. The company expects to increase annual gold production by around 800,000 ounces from its growth projects Rainy River and Blackwater.
- All-in sustaining costs for Q3 2015 were $788 per ounce, and the company aims to further strengthen its board, executive team, and shareholder value.
Corporate Presentation - September 2015newgold2011
This document contains cautionary statements regarding forward-looking information for New Gold Inc. It discusses New Gold's portfolio of assets located in top-rated mining jurisdictions, its experienced management team, and its track record of low-cost production and value creation. The document also provides highlights of recent transactions including a gold and silver stream agreement with Royal Gold for Rainy River and the sale of New Gold's interest in the El Morro project to Goldcorp, which collectively improved New Gold's financial position.
Denver corporate presentation - september 2015newgold2011
New Gold hosted a Denver Gold Forum in September 2015 that included cautionary statements about forward-looking information in the presentation. The presentation outlined New Gold's investment thesis of having a portfolio of assets in top-rated jurisdictions, an experienced and invested team, being among the lowest-cost producers with an established track record, and having a peer-leading growth pipeline. Recent developments highlighted transactions that increased New Gold's liquidity by $240 million and eliminated $93 million in debt, including a $175 million gold and silver stream on Rainy River production and the sale of a 30% interest in the El Morro project to Goldcorp.
New Gold provided a cautionary statement regarding forward-looking statements in their 2015 TD Securities Mining Conference presentation. The statement outlined important risk factors and uncertainties that could cause actual results to differ from expectations. It noted the reliance on assumptions around commodity prices, currency exchange rates, production estimates, cost estimates, permitting timelines, and other operational factors. The statement also highlighted risks including changes in economic conditions, variations in reserve and resource estimates, reliance on key personnel, and legal and regulatory challenges.
Print version corporate presentation - may 2014 v finalnewgold2011
This corporate presentation provides an overview of New Gold Inc., including:
- New Gold has a portfolio of assets located in top-rated mining jurisdictions, including Canada, the United States, Mexico, Chile, and Australia.
- In Q1 2014, New Gold achieved record production at its New Afton mine in Canada and had total cash costs of $254/oz and all-in sustaining costs of $674/oz.
- For 2014, New Gold guidance is for gold production of 380-420koz at total cash costs of $320-340/oz and all-in sustaining costs of $815-835/oz.
RBC Global Mining & Materials Conferencenewgold2011
- The document discusses New Gold's portfolio of mining assets located in top-rated jurisdictions for mining investment including Canada, the United States, Mexico, Chile, and Australia.
- It provides details on the mine life at each of New Gold's operating and development projects ranging from 2 to 17 years.
- The document contains cautionary statements regarding the use of forward-looking information and the risks and uncertainties inherent in the mining industry.
New Gold Corporate Presentation - BAML May 2014newgold2011
New Gold provides its 2014 consolidated guidance, forecasting gold production of 380-420 thousand ounces at total cash costs of $320-$340 per ounce and all-in sustaining costs of $815-$835 per ounce. The company expects copper production of 1.35-1.75 million pounds and silver production of 92-100 thousand ounces. New Gold highlights that its costs are among the lowest for gold producers and are expected to generate over $200 per ounce of incremental margin compared to industry peers.
2015 q3 earnings webcast v final (webcast)newgold2011
This document provides a summary of New Gold's third quarter 2015 results webcast. It discusses the following key points:
- Production results for the third quarter including 122,580 ounces of gold produced at total cash costs of $495 per ounce and all-in sustaining costs of $788 per ounce.
- Financial results for the third quarter and year-to-date including operating margin of $72 million, adjusted net loss of $9 million, and net cash generated from operations before changes in working capital of $58 million.
- Recent corporate developments that improved New Gold's financial position including the sale of a stream on Rainy River for $175 million and the sale of 30% interest in the El
- The corporate presentation discusses New Gold's portfolio of assets in top-rated jurisdictions including Canada, operational and financial results, and growth projects.
- New Gold has over 15 million ounces of gold reserves, with over 80% located in Canada. The company expects to increase annual gold production by around 800,000 ounces from its growth projects Rainy River and Blackwater.
- All-in sustaining costs for Q3 2015 were $788 per ounce, and the company aims to further strengthen its board, executive team, and shareholder value.
Corporate Presentation - September 2015newgold2011
This document contains cautionary statements regarding forward-looking information for New Gold Inc. It discusses New Gold's portfolio of assets located in top-rated mining jurisdictions, its experienced management team, and its track record of low-cost production and value creation. The document also provides highlights of recent transactions including a gold and silver stream agreement with Royal Gold for Rainy River and the sale of New Gold's interest in the El Morro project to Goldcorp, which collectively improved New Gold's financial position.
Denver corporate presentation - september 2015newgold2011
New Gold hosted a Denver Gold Forum in September 2015 that included cautionary statements about forward-looking information in the presentation. The presentation outlined New Gold's investment thesis of having a portfolio of assets in top-rated jurisdictions, an experienced and invested team, being among the lowest-cost producers with an established track record, and having a peer-leading growth pipeline. Recent developments highlighted transactions that increased New Gold's liquidity by $240 million and eliminated $93 million in debt, including a $175 million gold and silver stream on Rainy River production and the sale of a 30% interest in the El Morro project to Goldcorp.
New Gold provided a cautionary statement regarding forward-looking statements in their 2015 TD Securities Mining Conference presentation. The statement outlined important risk factors and uncertainties that could cause actual results to differ from expectations. It noted the reliance on assumptions around commodity prices, currency exchange rates, production estimates, cost estimates, permitting timelines, and other operational factors. The statement also highlighted risks including changes in economic conditions, variations in reserve and resource estimates, reliance on key personnel, and legal and regulatory challenges.
Print version corporate presentation - may 2014 v finalnewgold2011
This corporate presentation provides an overview of New Gold Inc., including:
- New Gold has a portfolio of assets located in top-rated mining jurisdictions, including Canada, the United States, Mexico, Chile, and Australia.
- In Q1 2014, New Gold achieved record production at its New Afton mine in Canada and had total cash costs of $254/oz and all-in sustaining costs of $674/oz.
- For 2014, New Gold guidance is for gold production of 380-420koz at total cash costs of $320-340/oz and all-in sustaining costs of $815-835/oz.
RBC Global Mining & Materials Conferencenewgold2011
- The document discusses New Gold's portfolio of mining assets located in top-rated jurisdictions for mining investment including Canada, the United States, Mexico, Chile, and Australia.
- It provides details on the mine life at each of New Gold's operating and development projects ranging from 2 to 17 years.
- The document contains cautionary statements regarding the use of forward-looking information and the risks and uncertainties inherent in the mining industry.
New Gold Corporate Presentation - BAML May 2014newgold2011
New Gold provides its 2014 consolidated guidance, forecasting gold production of 380-420 thousand ounces at total cash costs of $320-$340 per ounce and all-in sustaining costs of $815-$835 per ounce. The company expects copper production of 1.35-1.75 million pounds and silver production of 92-100 thousand ounces. New Gold highlights that its costs are among the lowest for gold producers and are expected to generate over $200 per ounce of incremental margin compared to industry peers.
Corporate presentation january 2017 v finalnewgold2011
This corporate presentation provides cautionary statements regarding forward-looking information in the document. It notes that all dollar amounts are in US dollars unless otherwise stated. It also outlines key assumptions and risk factors that could cause actual results to differ from forward-looking statements. Forward-looking statements include production guidance, resource and reserve estimates, construction timelines and costs for the Rainy River project, and other operating parameters. These statements are based on certain material assumptions regarding the business, including around political and economic conditions, commodity prices, exchange rates, costs, and permitting. However, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from expectations.
New gold bmo print version corporate presentation - february 2014newgold2011
- The document is a presentation from BMO Capital Markets' 23rd Global Metals & Mining Conference in February 2014. It provides an overview of New Gold Inc., including cautionary statements about forward-looking information, New Gold's investment thesis, portfolio of assets, growth in gold reserves, the experience of management and board, 2014 guidance, low cost profile, and growth pipeline including the New Afton mine.
Print version (td) corporate presentation - january 2014newgold2011
New Gold presented at the 2014 TD Securities Mining Conference in January. The presentation provided an overview of New Gold's portfolio of assets located in top-rated mining jurisdictions, its experienced management team with significant investments in the company, and its track record of low-cost production and organic growth. New Gold also highlighted the potential of its development projects Rainy River and Blackwater to significantly increase annual gold production.
The document provides cautionary statements regarding forward-looking information in the corporate presentation. It notes that statements regarding future financial performance, projects, plans and estimates are forward-looking. It outlines risks and uncertainties that could cause actual results to differ from expectations, including operational disruptions, inaccurate estimates, fluctuating commodity prices and exchange rates, lack of funding, legal and political challenges, and other permitting, economic, social and technical factors. Forward-looking statements are based on certain estimates and assumptions, and are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from expectations.
Print version (cibc) corporate presentation - january 2014newgold2011
- The document is a presentation for an investor conference in January 2014 by New Gold.
- It provides an overview of New Gold's portfolio of assets in top-rated mining jurisdictions, experienced management team, low-cost production profile, and peer-leading growth pipeline.
- New Gold has organic growth projects that could increase annual production by over 2 times current levels through the development of Rainy River and Blackwater in Canada.
New Gold provides a presentation on its portfolio of mining assets and investment thesis. It owns six operating mines and development projects located in top-rated jurisdictions for mining. New Gold has a history of low-cost production, reserve growth, and value creation through developing projects like New Afton. The company is targeting 8% production growth in 2015 while maintaining industry-leading low costs. New Gold also discusses its strong balance sheet and plans to reinvest free cash flow into its pipeline of projects to further expand production and margins.
The document discusses cautionary statements regarding forward-looking information in the presentation. It notes that all statements other than historical facts are considered forward-looking and lists important risks and assumptions. It cautions readers that actual results could differ materially from what is forecasted. The document also provides an overview of New Gold's experienced management team and high quality asset portfolio located in top-rated mining jurisdictions.
New gold presentation april 2018 v finalnewgold2011
New Gold provides a corporate presentation detailing its strategic pillars, assets, and 2018 guidance. The company's key priorities are focusing on long-term shareholder value through its Canadian assets, operational track record, growth opportunities including Rainy River and Blackwater, and enhancing financial flexibility with no debt due until 2022. New Gold expects 2018 production to grow 30% to a range of 525-595 thousand ounces of gold due to the addition of Rainy River, and for all-in sustaining costs to be $555-595 per ounce. Sustaining capital is expected to decrease significantly over the coming years as Rainy River's costs revert to normal levels.
The document summarizes New Gold's fourth quarter and year-end 2014 results webcast. It highlights that in 2014 New Gold produced 380 thousand ounces of gold, generated $371 million in adjusted net cash from operations before changes in working capital, and ended the year with a $371 million cash balance. It also notes that New Gold received environmental approval for its Rainy River project in early 2015 and advanced engineering, permitting and exploration at the project. New Gold also completed a study on the potential C-zone extension at Rainy River. The document provides cautionary statements regarding the use of forward-looking information in the presentation.
2015 Annual & Special Meeting of ShareholdersAuRico Gold
The document provides an overview of Aurico Gold Inc.'s 2015 Annual and Special Meeting of Shareholders. Some key points:
- Aurico Gold has producing assets in top mining jurisdictions including Young-Davidson, one of Canada's largest underground gold mines, and El Chanate, a consistent low-cost open pit mine in Mexico.
- Guidance for 2015 includes production growth of up to 14% at lower costs and capital investment compared to 2014. Young-Davidson is expected to increase production by up to 15% at lower underground cash costs and capital expenditures.
- Kemess Underground is an advanced development project in British Columbia with reserves of over 10 million ounces of gold and significant exploration potential. Permit
Scotia london corporate presentation - june 2015newgold2011
New Gold provides a cautionary note regarding forward-looking statements in the document. Any statements regarding future financial performance, events, results or developments are forward-looking and based on certain assumptions. These statements are subject to risks and uncertainties that could cause actual results to differ materially. Such risks include variations in metal prices and foreign exchange rates, changes to resource estimates, permitting delays, and uncertainties inherent in mining economic studies and other factors. New Gold is forecasting 2015 gold production of 390,000-430,000 ounces at total cash costs of $340-380/ounce and all-in sustaining costs of $745-785/ounce. The company has a strong balance sheet with $366 million in cash and an und
Fourth Quarter and Full Year 2014 Operational Results and 2015 Guidancenewgold2011
This document provides an overview and summary of New Gold's fourth quarter and full year 2014 operational results and 2015 guidance. Some key points:
- 2014 was a record year for New Gold with lowest costs in the company's history and gold production of 380,000 ounces.
- 2015 guidance forecasts a 8% increase in gold production to 390,000-430,000 ounces, with total cash costs expected to remain low at $340-380 per ounce and all-in sustaining costs of $745-785 per ounce.
- New Gold has a portfolio of long-life assets in top-rated jurisdictions, including the Rainy River and Blackwater growth projects which are expected to add significant production in the
Rainy river site visit presentation v finalnewgold2011
The document provides details about a site visit to the Rainy River gold mine project in Ontario, Canada. It includes:
- An agenda for the site visit with presentations on geology, development plans, operations, and life of mine planning.
- An overview of the Rainy River project including reserves, production targets, costs, and timeline.
- Details on funding for the project including proceeds from a streaming deal and the project's financial analysis.
1) Scotiabank hosted a panel discussion and 1x1 meetings in NYC on May 20, 2015 to discuss AuRico Gold Inc., a Canadian gold mining company.
2) AuRico Gold has a portfolio of quality gold assets in top mining jurisdictions in Canada and Mexico, including the Young-Davidson and El Chanate mines.
3) For 2015, AuRico Gold is guiding for another record year with production growth of up to 14% while cash costs are expected to decline up to 13% and capital investment is forecast to decrease up to 36%.
- New Gold reported first quarter 2014 results with gold production of 91,317 ounces at an all-in sustaining cost of $674 per ounce.
- New Afton mine achieved record quarterly gold and copper production of 27,364 ounces of gold and 22 million pounds of copper.
- The company generated $81 million in net cash from operations and increased its cash balance to $438 million.
- New Gold is advancing projects including the planned expansion at New Afton, development of the Rainy River project, and exploration at its properties to fuel production growth.
This document discusses Romarco Minerals Inc., a mining company traded on the TSX. It contains forward-looking statements regarding Romarco's Haile Gold project based on a technical report from December 2014, including estimates for mine life, production costs, capital costs, internal rate of return, and timing of permitting and construction. The document cautions that actual results may differ materially from the forward-looking statements due to risks and uncertainties. It also notes that mineral resource estimates use categories recognized by Canadian but not US standards.
This document discusses Romarco Minerals Inc., a mining company traded on the TSX. It contains forward-looking statements regarding the company's Haile Gold project based on a technical report from 2014, including projections for mine life, production costs, capital costs, internal rate of return, and the timing of permitting and construction. The statements are based on assumptions around factors like metal prices, ore grades, and the availability of financing, permits, and qualified workers, and actual results may differ. The document also notes terminology differences between Canadian and US standards for mineral resource classification.
- The document is a corporate presentation from New Gold that contains forward-looking statements and cautionary language regarding those statements.
- It discusses New Gold's portfolio of assets in top-rated jurisdictions including Canada, the US, Mexico, and Australia.
- The presentation provides highlights from 2015 including record gold production that exceeded guidance and lower than planned costs. It also outlines New Gold's growth pipeline and 2016 guidance.
Digidel 2013 är en kampanj för att öka den digitala delaktigheten i Sverige. Digidel består av ett växande nätverk av partners och eldsjälar som gör insatser för att alla ska våga, vilja och kunna använda internet.
The document provides an agenda for an Investor Day presentation on February 18, 2016. The presentation agenda includes an overview of the gold market, a company update, an overview of New Gold, operational results and outlook for 2015 and 2016, mineral reserve updates, development of the Rainy River project, 2015 financial results, and a conclusion. The document also includes cautionary statements regarding forward-looking statements and information contained in the presentation.
- The document is a corporate presentation from May 2016 that contains cautionary statements about forward-looking information.
- It warns that statements regarding future financial performance, projects, activities, and expectations are forward-looking and subject to risks and uncertainties that could cause actual results to differ materially.
- The presentation outlines numerous risk factors that could affect the company's projections including economic, geological, permitting, environmental, social, regulatory, political, and financial risks.
The document provides cautionary statements regarding forward-looking information in the corporate presentation. It identifies factors that could cause actual results to differ from expectations expressed in the forward-looking statements such as risks associated with fluctuations in commodity prices and foreign exchange rates. It also notes the material assumptions underlying the forward-looking statements and lists additional risk factors including those related to production estimates, capital and operating costs, and economic assumptions. The document concludes by stating that the footnotes and appendices contain important additional information.
Corporate presentation january 2017 v finalnewgold2011
This corporate presentation provides cautionary statements regarding forward-looking information in the document. It notes that all dollar amounts are in US dollars unless otherwise stated. It also outlines key assumptions and risk factors that could cause actual results to differ from forward-looking statements. Forward-looking statements include production guidance, resource and reserve estimates, construction timelines and costs for the Rainy River project, and other operating parameters. These statements are based on certain material assumptions regarding the business, including around political and economic conditions, commodity prices, exchange rates, costs, and permitting. However, forward-looking statements are subject to risks and uncertainties that could cause actual results to differ from expectations.
New gold bmo print version corporate presentation - february 2014newgold2011
- The document is a presentation from BMO Capital Markets' 23rd Global Metals & Mining Conference in February 2014. It provides an overview of New Gold Inc., including cautionary statements about forward-looking information, New Gold's investment thesis, portfolio of assets, growth in gold reserves, the experience of management and board, 2014 guidance, low cost profile, and growth pipeline including the New Afton mine.
Print version (td) corporate presentation - january 2014newgold2011
New Gold presented at the 2014 TD Securities Mining Conference in January. The presentation provided an overview of New Gold's portfolio of assets located in top-rated mining jurisdictions, its experienced management team with significant investments in the company, and its track record of low-cost production and organic growth. New Gold also highlighted the potential of its development projects Rainy River and Blackwater to significantly increase annual gold production.
The document provides cautionary statements regarding forward-looking information in the corporate presentation. It notes that statements regarding future financial performance, projects, plans and estimates are forward-looking. It outlines risks and uncertainties that could cause actual results to differ from expectations, including operational disruptions, inaccurate estimates, fluctuating commodity prices and exchange rates, lack of funding, legal and political challenges, and other permitting, economic, social and technical factors. Forward-looking statements are based on certain estimates and assumptions, and are subject to known and unknown risks and uncertainties, which could cause actual results to differ materially from expectations.
Print version (cibc) corporate presentation - january 2014newgold2011
- The document is a presentation for an investor conference in January 2014 by New Gold.
- It provides an overview of New Gold's portfolio of assets in top-rated mining jurisdictions, experienced management team, low-cost production profile, and peer-leading growth pipeline.
- New Gold has organic growth projects that could increase annual production by over 2 times current levels through the development of Rainy River and Blackwater in Canada.
New Gold provides a presentation on its portfolio of mining assets and investment thesis. It owns six operating mines and development projects located in top-rated jurisdictions for mining. New Gold has a history of low-cost production, reserve growth, and value creation through developing projects like New Afton. The company is targeting 8% production growth in 2015 while maintaining industry-leading low costs. New Gold also discusses its strong balance sheet and plans to reinvest free cash flow into its pipeline of projects to further expand production and margins.
The document discusses cautionary statements regarding forward-looking information in the presentation. It notes that all statements other than historical facts are considered forward-looking and lists important risks and assumptions. It cautions readers that actual results could differ materially from what is forecasted. The document also provides an overview of New Gold's experienced management team and high quality asset portfolio located in top-rated mining jurisdictions.
New gold presentation april 2018 v finalnewgold2011
New Gold provides a corporate presentation detailing its strategic pillars, assets, and 2018 guidance. The company's key priorities are focusing on long-term shareholder value through its Canadian assets, operational track record, growth opportunities including Rainy River and Blackwater, and enhancing financial flexibility with no debt due until 2022. New Gold expects 2018 production to grow 30% to a range of 525-595 thousand ounces of gold due to the addition of Rainy River, and for all-in sustaining costs to be $555-595 per ounce. Sustaining capital is expected to decrease significantly over the coming years as Rainy River's costs revert to normal levels.
The document summarizes New Gold's fourth quarter and year-end 2014 results webcast. It highlights that in 2014 New Gold produced 380 thousand ounces of gold, generated $371 million in adjusted net cash from operations before changes in working capital, and ended the year with a $371 million cash balance. It also notes that New Gold received environmental approval for its Rainy River project in early 2015 and advanced engineering, permitting and exploration at the project. New Gold also completed a study on the potential C-zone extension at Rainy River. The document provides cautionary statements regarding the use of forward-looking information in the presentation.
2015 Annual & Special Meeting of ShareholdersAuRico Gold
The document provides an overview of Aurico Gold Inc.'s 2015 Annual and Special Meeting of Shareholders. Some key points:
- Aurico Gold has producing assets in top mining jurisdictions including Young-Davidson, one of Canada's largest underground gold mines, and El Chanate, a consistent low-cost open pit mine in Mexico.
- Guidance for 2015 includes production growth of up to 14% at lower costs and capital investment compared to 2014. Young-Davidson is expected to increase production by up to 15% at lower underground cash costs and capital expenditures.
- Kemess Underground is an advanced development project in British Columbia with reserves of over 10 million ounces of gold and significant exploration potential. Permit
Scotia london corporate presentation - june 2015newgold2011
New Gold provides a cautionary note regarding forward-looking statements in the document. Any statements regarding future financial performance, events, results or developments are forward-looking and based on certain assumptions. These statements are subject to risks and uncertainties that could cause actual results to differ materially. Such risks include variations in metal prices and foreign exchange rates, changes to resource estimates, permitting delays, and uncertainties inherent in mining economic studies and other factors. New Gold is forecasting 2015 gold production of 390,000-430,000 ounces at total cash costs of $340-380/ounce and all-in sustaining costs of $745-785/ounce. The company has a strong balance sheet with $366 million in cash and an und
Fourth Quarter and Full Year 2014 Operational Results and 2015 Guidancenewgold2011
This document provides an overview and summary of New Gold's fourth quarter and full year 2014 operational results and 2015 guidance. Some key points:
- 2014 was a record year for New Gold with lowest costs in the company's history and gold production of 380,000 ounces.
- 2015 guidance forecasts a 8% increase in gold production to 390,000-430,000 ounces, with total cash costs expected to remain low at $340-380 per ounce and all-in sustaining costs of $745-785 per ounce.
- New Gold has a portfolio of long-life assets in top-rated jurisdictions, including the Rainy River and Blackwater growth projects which are expected to add significant production in the
Rainy river site visit presentation v finalnewgold2011
The document provides details about a site visit to the Rainy River gold mine project in Ontario, Canada. It includes:
- An agenda for the site visit with presentations on geology, development plans, operations, and life of mine planning.
- An overview of the Rainy River project including reserves, production targets, costs, and timeline.
- Details on funding for the project including proceeds from a streaming deal and the project's financial analysis.
1) Scotiabank hosted a panel discussion and 1x1 meetings in NYC on May 20, 2015 to discuss AuRico Gold Inc., a Canadian gold mining company.
2) AuRico Gold has a portfolio of quality gold assets in top mining jurisdictions in Canada and Mexico, including the Young-Davidson and El Chanate mines.
3) For 2015, AuRico Gold is guiding for another record year with production growth of up to 14% while cash costs are expected to decline up to 13% and capital investment is forecast to decrease up to 36%.
- New Gold reported first quarter 2014 results with gold production of 91,317 ounces at an all-in sustaining cost of $674 per ounce.
- New Afton mine achieved record quarterly gold and copper production of 27,364 ounces of gold and 22 million pounds of copper.
- The company generated $81 million in net cash from operations and increased its cash balance to $438 million.
- New Gold is advancing projects including the planned expansion at New Afton, development of the Rainy River project, and exploration at its properties to fuel production growth.
This document discusses Romarco Minerals Inc., a mining company traded on the TSX. It contains forward-looking statements regarding Romarco's Haile Gold project based on a technical report from December 2014, including estimates for mine life, production costs, capital costs, internal rate of return, and timing of permitting and construction. The document cautions that actual results may differ materially from the forward-looking statements due to risks and uncertainties. It also notes that mineral resource estimates use categories recognized by Canadian but not US standards.
This document discusses Romarco Minerals Inc., a mining company traded on the TSX. It contains forward-looking statements regarding the company's Haile Gold project based on a technical report from 2014, including projections for mine life, production costs, capital costs, internal rate of return, and the timing of permitting and construction. The statements are based on assumptions around factors like metal prices, ore grades, and the availability of financing, permits, and qualified workers, and actual results may differ. The document also notes terminology differences between Canadian and US standards for mineral resource classification.
- The document is a corporate presentation from New Gold that contains forward-looking statements and cautionary language regarding those statements.
- It discusses New Gold's portfolio of assets in top-rated jurisdictions including Canada, the US, Mexico, and Australia.
- The presentation provides highlights from 2015 including record gold production that exceeded guidance and lower than planned costs. It also outlines New Gold's growth pipeline and 2016 guidance.
Digidel 2013 är en kampanj för att öka den digitala delaktigheten i Sverige. Digidel består av ett växande nätverk av partners och eldsjälar som gör insatser för att alla ska våga, vilja och kunna använda internet.
The document provides an agenda for an Investor Day presentation on February 18, 2016. The presentation agenda includes an overview of the gold market, a company update, an overview of New Gold, operational results and outlook for 2015 and 2016, mineral reserve updates, development of the Rainy River project, 2015 financial results, and a conclusion. The document also includes cautionary statements regarding forward-looking statements and information contained in the presentation.
- The document is a corporate presentation from May 2016 that contains cautionary statements about forward-looking information.
- It warns that statements regarding future financial performance, projects, activities, and expectations are forward-looking and subject to risks and uncertainties that could cause actual results to differ materially.
- The presentation outlines numerous risk factors that could affect the company's projections including economic, geological, permitting, environmental, social, regulatory, political, and financial risks.
The document provides cautionary statements regarding forward-looking information in the corporate presentation. It identifies factors that could cause actual results to differ from expectations expressed in the forward-looking statements such as risks associated with fluctuations in commodity prices and foreign exchange rates. It also notes the material assumptions underlying the forward-looking statements and lists additional risk factors including those related to production estimates, capital and operating costs, and economic assumptions. The document concludes by stating that the footnotes and appendices contain important additional information.
- The corporate presentation provides an overview of New Gold Inc., including highlights of its portfolio of mining assets located in top-rated jurisdictions, its investment thesis, and forward-looking production and cost guidance.
- New Gold has a portfolio of assets in Canada, the United States, and Mexico, including the Rainy River and Blackwater projects which have the potential to add over 300koz to annual gold production.
- Key aspects of New Gold's investment thesis are its majority of gold reserves located in Canada, low-cost production profile, and a peer-leading growth pipeline including the fully-funded Rainy River project.
The document provides cautionary statements regarding forward-looking information in New Gold's corporate presentation. It notes that statements regarding future financial performance, mine life, mineral reserves, production costs, economics, operating parameters, planned activities, and timelines are forward-looking. It lists important risks and assumptions that could cause actual results to differ from expectations, such as disruptions, changes in laws or regulations, inaccurate estimates, price volatility, cost increases, loss of key employees, and delays in permitting. The document states that all forward-looking information is qualified by these risks and uncertainties.
The document cautions readers that certain information in the presentation regarding New Gold's future performance are forward-looking statements that are based on estimates and assumptions that are subject to risks and uncertainties. It provides context for forward-looking production, cost, and capital expenditure guidance. The document also lists key assumptions underlying the forward-looking statements and outlines risk factors that could materially affect actual results.
Det nya språket Torbjörn Lundgren, Fungerande Medier Digidel 2013
Fungerande medier & Digidel 2013 bjöd den 26 mars in till seminarium, det nya språket.
Här är Torbjörn Lundgrens presentation. Läs mer om Digidel 2013 www.digidel.se
Hur arbetar frivilliga intitiativ för ökad digital delaktighet? Arbetsmateria...Digidel 2013
Lägesrapport av samordnare och Fil Dr Angela Zetterlund. Linnéuniversitetet - Växjö/Kalmar. Presentation vid Nätverksträff och Digimeet 2013-05-08 - videoinspelning finns som sida nr. 2 för dig som vill se Angelas hela föredrag. OBS! Arbetsmaterial därför ej
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- The Rainy River gold project in Ontario, Canada is expected to begin production in mid-2017. Construction is currently 35% complete and $82 million was spent in the first quarter of 2016.
- The feasibility study estimates the project will have an after-tax NPV of $760 million, IRR of 15.3%, and payback period of 5.2 years, using a gold price of $1,200/oz. Average annual gold production is forecast at 325,000oz over the first 9 years at total cash costs of $570/oz and all-in sustaining costs of $670/oz.
- The project benefits from proximity to infrastructure in Canada's top-rated mining jurisdiction
This document is a corporate presentation from January 2015 that provides cautionary statements about forward-looking information and outlines New Gold's investment thesis. New Gold has a portfolio of assets in top-rated jurisdictions including Canada and the United States. It has 18.5 million ounces of gold reserves, is among the lowest-cost producers, and has a pipeline of growth projects that could add approximately 900,000 ounces of annual gold production. New Gold also has an experienced team and track record of value creation, with its share price increasing over 175% since 2009.
New gold corporate presentation - baml may 2014newgold2011
New Gold provides its 2014 consolidated guidance, forecasting gold production of 380-420 thousand ounces at total cash costs of $320-$340 per ounce and all-in sustaining costs of $815-$835 per ounce. The company expects copper production of 1.35-1.75 million pounds and silver production of 92-100 thousand ounces. New Gold highlights that its costs are among the lowest for gold producers and are expected to generate over $200 per ounce in incremental margins compared to industry peers.
Barclays print version corporate presentation - march 2014 v finalnewgold2011
1) The document discusses New Gold's portfolio of assets located in top-rated mining jurisdictions and its peer-leading growth pipeline.
2) New Gold provides guidance for 2014 of 380-420koz of gold production at all-in sustaining costs of $815-835/oz.
3) The growth pipeline includes the Rainy River and Blackwater projects which could add over 900koz of annual production.
Print version (cibc) corporate presentation - january 2014newgold2011
The document is a presentation for CIBC Whistler 2014 Investor Conference in January 2014. It provides cautionary statements regarding forward-looking information in the presentation and outlines New Gold's investment thesis of having a portfolio of assets in top-rated jurisdictions, an invested and experienced management team, being among the lowest cost producers with a solid track record, and having a peer-leading growth pipeline and a history of value creation.
- The document is a corporate presentation from New Gold that provides cautionary statements regarding forward-looking information.
- It notes that statements regarding future financial performance, events, developments and operating parameters are forward-looking and that actual results could differ materially from expectations.
- Key risks to the forward-looking statements include uncertainties around estimates, commodity prices, exchange rates, permitting, political and economic factors, and other operational risks.
This corporate presentation provides an overview of New Gold Inc. It highlights the company's portfolio of assets located in top-rated mining jurisdictions. New Gold has a history of low-cost production and a growth pipeline that can potentially increase annual production by 900,000 ounces. The special New Afton asset in Canada has outperformed initial estimates and has potential to further increase through the C-zone extension and mill expansion.
Corporate presentation september 2016 v finalnewgold2011
- The document is a corporate presentation from New Gold that outlines cautionary statements regarding forward-looking information.
- It notes that statements in the presentation that address events, results, outcomes or developments that New Gold expects to occur are forward-looking statements which are based on certain assumptions and are subject to risks and uncertainties.
- It lists numerous risks and uncertainties that could cause actual results to differ materially from expectations, including risks related to prices, currency fluctuations, estimates, permitting, political and legal factors, and other operational risks.
- The document is a presentation from New Gold Inc. summarizing the company's second quarter 2014 results.
- Key highlights include gold production of 89,460 ounces at total cash costs of $251/oz and all-in sustaining costs of $745/oz.
- The New Afton mill expansion remains on schedule for mid-2015. Engineering and permitting of the Rainy River and Blackwater projects are also advancing.
- New Gold's first quarter 2015 results webcast highlights include 94,977 ounces of gold production, $366 million in cash balance, and receiving environmental approvals for the Rainy River project.
- Costs for the first quarter were $486/oz for total cash costs and $1,014/oz for all-in sustaining costs.
- The New Afton mill expansion is ahead of schedule and under budget. The C-zone scoping study was completed in January 2015.
- Rainy River and Blackwater provide growth opportunities through construction and permitting over the next several years.
2013 fourth quarter and year end webcastv finalnewgold2011
The document summarizes New Gold's 2013 fourth quarter and full-year results. It notes that the fourth quarter was their highest gold production quarter of 2013 and they achieved their lowest total cash costs in company history for the full year. For the fourth quarter, they generated $93 million in adjusted net cash from operations. For the full year, they achieved their lowest annual total cash costs in history and generated $249 million in adjusted net cash from operations.
Similar to New Gold 2015 Corporate Presentation (11)
The document provides a corporate presentation for New Gold Inc. It cautions readers that forward-looking statements are based on estimates and assumptions that may prove to be inaccurate. Some key points:
- New Gold is a Canadian-focused gold producer with over 90% of its 14.8 million ounces of gold reserves located in Canada.
- Its assets include the Rainy River mine in Canada, which began commercial production ahead of schedule and is expected to increase overall gold production by 30%.
- The company achieved its 2017 guidance ranges for gold and copper production and its estimates for development capital and all-in sustaining costs.
1. The document discusses New Gold's annual general meeting on April 25, 2018 and provides cautionary statements about forward-looking information.
2. It summarizes New Gold's priorities in 2017 which included streamlining operations, advancing growth projects, enhancing financial flexibility, and delivering operational results while pursuing optimization at Rainy River.
3. The document outlines how New Gold transformed in 2017 through strengthening management, reducing costs, selling non-core assets, achieving commercial production at Rainy River on time and on budget, and increasing earnings and cash flow per share.
New Gold provides a corporate presentation detailing its strategic pillars of being a Canadian focused gold producer with operational track record and growth opportunities. Key highlights include over 14.8 million ounces of gold reserves over 90% located in Canada, 2018 production guidance of 525,000 to 595,000 ounces of gold, and decreasing sustaining capital profile over coming years as Rainy River capital expenditures decrease after initial years of operations. The presentation also outlines New Gold's liquidity position and decreasing leverage ratio, indicating financial flexibility.
New gold presentation january 2018 v final (4)newgold2011
New Gold provides its 2018 corporate presentation, which includes the following key points:
- Guidance for 2018 production of 525-595koz gold and 75-85mlb copper, a 30% increase over 2017.
- Rainy River mine achieved commercial production ahead of schedule in November 2017 and is expected to produce 310-350koz gold in 2018.
- Blackwater remains the next flagship project in permitting with EA approval expected in mid-2018.
- The company has established an operational track record and focuses on long-term shareholder value through its portfolio of assets in top-rated jurisdictions in Canada and growth opportunities like Rainy River and Blackwater.
New gold presentation november 2017v finalnewgold2011
The corporate presentation provides cautionary statements regarding forward-looking information in the document. It notes that all dollar amounts are in US dollars unless otherwise stated, and that the presentation contains forward-looking statements regarding New Gold's future performance, including expectations for production, costs, and development activities. It cautions that these forward-looking statements are based on a number of assumptions and are subject to various risks and uncertainties, such that actual results could differ materially from expectations.
New gold presentation october 2017v finalnewgold2011
This corporate presentation outlines New Gold's strategic pillars and 2017 key objectives. New Gold's strategic pillars are being a Canadian focused gold producer with over 90% of its 14.7 million ounces of reserves located in Canada, having low-cost operations with anticipated all-in sustaining costs of $671 per ounce in the first half of 2017, and pursuing growth opportunities from projects that could provide around 800,000 ounces of annual combined production. New Gold's 2017 key objectives are to streamline its organizational structure and strengthen the Rainy River team, advance its organic growth projects, enhance its financial flexibility, deliver operationally and pursue cash flow optimization opportunities, and execute on its updated plan for the Rainy River project.
New gold denver gold forum september 24 27, 2017newgold2011
New Gold's corporate presentation outlines its strategic focus on long-term shareholder value creation through its Canadian assets, low-cost growth, and disciplined management of capital resources. Key points include advancing the Rainy River project, which began production in September 2017 and is on schedule, as well as long-term growth opportunities through projects like New Afton C-Zone, Blackwater, and Rimfire that provide a pipeline of development options. New Gold also maintains a strong liquidity position and recently restructured its debt for increased financial flexibility.
New gold presentation september 2017 v finalnewgold2011
This corporate presentation from September 2017 provides an overview of New Gold Inc., including:
- Cautionary statements regarding forward-looking information in the presentation.
- Key characteristics of New Gold's portfolio including 14.7 million ounces of gold reserves located primarily in Canada, low costs of $671 per ounce, and potential for 800,000 ounces of annual gold production from growth projects.
- Recent management and board appointments and changes, including a new Executive Vice President & CFO and Vice Presidents of Projects and Business Development, and a new board member. The previous CFO will remain until October 2017 to assist with the transition.
New gold presentation june 2017 v finalnewgold2011
This corporate presentation provides cautionary statements regarding forward-looking information and key characteristics of New Gold's portfolio. It discusses New Gold's assets in top-rated jurisdictions, including operating mines and development projects. New Gold has 14.7 million ounces of gold reserves, over 90% located in Canada. Its first quarter 2017 all-in sustaining costs were $597 per ounce. Growth projects have the potential to increase annual production to approximately 800,000 ounces.
New gold baml global metals, mining & steel conference 16 18 may 2017newgold2011
New Gold provides a corporate presentation outlining its portfolio of assets located in top-rated mining jurisdictions. The presentation cautions that statements regarding future performance are forward-looking in nature. New Gold has a diverse portfolio including operating mines and development projects with potential for 800,000 ounces of annual gold production. Key priorities for 2017 include executing on an updated plan for the Rainy River project in Ontario, Canada, advancing organic growth projects, and enhancing financial flexibility.
New gold presentation march 2017 v websitenewgold2011
The corporate presentation provides an overview of New Gold Inc., including:
- New Gold has a portfolio of assets in top-rated mining jurisdictions like Canada, the USA, Australia and Mexico.
- Their key growth project is the Rainy River mine in Ontario, Canada, which is expected to have an initial 14-year mine life upon achieving commercial production in late 2017.
- New Gold's priorities for 2017 include strengthening their team at Rainy River to ensure successful execution of the project, as well as pursuing opportunities to further optimize cash flow from their operating mines.
Corporate presentation january 2017 v finalnewgold2011
This corporate presentation discusses Cautionary Statements regarding forward-looking information. It notes that all amounts are in US dollars unless otherwise stated. It provides definitions for forward-looking statements and notes that actual results may differ materially from expectations. It lists key assumptions underlying forward-looking statements including assumptions regarding operations, political/legal factors, resource/reserve estimates, exchange rates, prices, costs, permits/approvals, Indigenous group arrangements, feasibility studies, payments from Royal Gold, and 2016 cost guidance. It cautions that forward-looking statements are subject to risks/uncertainties that could cause actual results to differ.
Corporate presentation november 2016 v finalnewgold2011
The document provides an overview of New Gold's corporate presentation from November 2016. It cautions readers that statements regarding future financial or operating performance are forward-looking. It notes key assets in top-rated jurisdictions including Rainy River, New Afton, Mesquite, and Peak Mines. Construction at Rainy River is currently 60% complete with $680 million spent to date and $365 million remaining. The presentation highlights third quarter 2016 results including 95,546 ounces of gold produced and $151 million in cash. New Gold's liquidity position includes $502 million in cash and an undrawn $276 million credit facility.
The document is a corporate presentation from New Gold that outlines its investment thesis. It discusses New Gold's portfolio of assets in top-rated jurisdictions, its invested and experienced team, and its track record of being among the lowest-cost gold producers. It also highlights New Gold's peer-leading growth pipeline, which is expected to deliver around 8% production growth in 2015. The presentation emphasizes New Gold's history of value creation and outperforming the market, noting its share price has outperformed the S&P/TSX Global Gold Index by over 90% since 2009.
Corporate presentation november 2015 (1 on 1 meeting)newgold2011
The document is a corporate presentation from New Gold that outlines its investment thesis. It discusses New Gold's portfolio of assets in top-rated jurisdictions, its invested and experienced team, and its track record of being among the lowest-cost gold producers. It also highlights New Gold's peer-leading growth pipeline, which is expected to deliver around 8% production growth in 2015. The presentation notes that New Gold has a history of value creation and that its share price has outperformed industry indexes since 2009.
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Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
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2. Cautionary statements
2
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this presentation, including any information relating to New Gold’s future financial or operating performance are “forward looking”. All statements in this presentation, other than
statements of historical fact, which address events, results, outcomes or developments that New Gold expects to occur are “forward-looking statements”. Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by the use of forward-looking terminology such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “targeted”, “estimates”, “forecasts”, “intends”,
“anticipates”, “projects”, “potential”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will be taken”, “occur” or “be
achieved” or the negative connotation of such terms. Forward-looking statements in this presentation include, among others, the statements under the headings “Consolidated Year-To-Date Operational Results
and 2015 Guidance” and “Financial Update” and statements with respect to: guidance for production; total cash costs and all-in sustaining costs, and the factors contributing to those expected results, as well as
expected capital expenditures; mineral reserve and mineral resource estimates; grades expected to be mined at the Company’s operations; the expected production, costs, economics and operating parameters of
the Rainy River project; planned activities for 2015 and beyond at the Company’s operations and projects, as well as planned exploration activities; expected production for the Blackwater project; targeting timing
for commissioning and full production (and other activities) related to Rainy River and the sequencing of Blackwater; statements with respect to the ability of the parties to satisfy the conditions of and complete the
sale of New Gold’s interest in the El Morro property to Goldcorp Inc. (“El Morro sale”); the ability of Teck Resources Limited and Goldcorp Inc. to satisfy the conditions of and complete the El Morro – Relincho joint
venture (“Project Corridor”); and statements with respect to the payment of the remaining $75 million from Royal Gold.
All forward-looking statements in this presentation are based on the opinions and estimates of management as of the date such statements are made and are subject to important risk factors and uncertainties,
many of which are beyond New Gold’s ability to control or predict. Certain material assumptions regarding such forward-looking statements are discussed in this presentation, New Gold’s annual and quarterly
management’s discussion and analysis (“MD&A”), its Annual Information Form and its Technical Reports filed at www.sedar.com. In addition to, and subject to, such assumptions discussed in more detail
elsewhere, the forward-looking statements in this presentation are also subject to the following assumptions: (1) there being no significant disruptions affecting New Gold’s operations; (2) political and legal
developments in jurisdictions where New Gold operates, or may in the future operate, being consistent with New Gold’s current expectations; (3) the accuracy of New Gold’s current mineral reserve and resource
estimates; (4) the exchange rate between the Canadian dollar, Australian dollar, Mexican peso and U.S. dollar being approximately consistent with current levels; (5) prices for diesel, natural gas, fuel oil, electricity
and other key supplies being approximately consistent with current levels; (6) equipment, labour and materials costs increasing on a basis consistent with New Gold’s current expectations; (7) arrangements with
First Nations and other Aboriginal groups in respect of Rainy River and Blackwater being consistent with New Gold’s current expectations; (8) all required permits, licenses and authorizations being obtained from
the relevant governments and other relevant stakeholders within the expected timelines; (9) the results of the feasibility studies for the Rainy River and Blackwater projects being realized; (10) commodity prices
and exchange rates being consistent with those estimated for purposes of 2015 guidance; (11) conditions of the El Morro sale, and the conditions to closing of Project Corridor, being satisfied in a timely manner;
and (12) conditions to the payment of the remaining $75 million from Royal Gold being satisfied mid-2016.
Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of
activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, without limitation: significant capital requirements and the
availability and management of capital resources; additional funding requirements; price volatility in the spot and forward markets for metals and other commodities; fluctuations in the international currency
markets and in the rates of exchange of the currencies of Canada, the United States, Australia, Mexico and Chile; discrepancies between actual and estimated production, between actual and estimated reserves
and resources and between actual and estimated metallurgical recoveries; changes in national and local government legislation in Canada, the United States, Australia, Mexico and Chile or any other country in
which New Gold currently or may in the future carry on business; taxation; controls, regulations and political or economic developments in the countries in which New Gold does or may carry on business; the
speculative nature of mineral exploration and development, including the risks of obtaining and maintaining the validity and enforceability of the necessary licenses and permits and complying with the permitting
requirements of each jurisdiction in which New Gold operates, including, but not limited to: in Canada, obtaining the necessary permits for the Rainy River and Blackwater projects; delay or failure to receive
regulatory approvals or the failure to satisfy other closing conditions to the El Morro sale or Project Corridor; in Mexico, where Cerro San Pedro has a history of ongoing legal challenges related to our
environmental authorization; and in Chile, where certain activities at El Morro have been delayed due to litigation relating to its environmental permit; the lack of certainty with respect to foreign legal systems, which
may not be immune from the influence of political pressure, corruption or other factors that are inconsistent with the rule of law; the uncertainties inherent to current and future legal challenges New Gold is or may
become a party to; diminishing quantities or grades of reserves and resources; competition; loss of key employees; rising costs of labour, supplies, fuel and equipment; actual results of current exploration or
reclamation activities; uncertainties inherent to mining economic studies including the feasibility studies for Rainy River and Blackwater; the uncertainty with respect to prevailing market conditions necessary for a
positive development decision at Blackwater; changes in project parameters as plans continue to be refined; accidents; labour disputes; defective title to mineral claims or property or contests over claims to
mineral properties; unexpected delays and costs inherent to consulting and accommodating rights of First Nations and other Aboriginal groups; risks, uncertainties and unanticipated delays associated with
obtaining and maintaining necessary licenses, permits and authorizations and complying with permitting requirements, including those associated with the environmental assessment process for Blackwater. In
addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental events and hazards, industrial accidents, unusual or unexpected
formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance to cover these risks) as well as “Risk Factors” included in New Gold’s
disclosure documents filed on and available at www.sedar.com.
Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. All of the forward-looking statements
contained in this presentation are qualified by these cautionary statements. New Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new
information, events or otherwise, except in accordance with applicable securities laws.
The footnotes, endnotes and appendices to this presentation contain important information. The endnotes and appendices are found at the end of the presentation.
ALL AMOUNTS IN U.S. DOLLARS UNLESS OTHERWISE STATED
3. Portfolio
of assets
in top-rated
jurisdictions
Invested and
experienced
team
Among
lowest-cost
producers with
established
track record
Peer-leading
growth pipeline
A history
of value
creation
New Gold investment thesis
3
15.3 Moz gold
reserves(1)
$50 million
investment by
Board and
Management
2014 delivered
record-low costs
~8% production
growth in 2015
Share price
outperformed
S&P/TSX Global
Gold Index by >90%
since March 2009
1. For a detailed breakdown of mineral resources and reserves by category and the key assumptions and parameters, refer to Appendix 5. This information can also be found in New Gold’s Annual Information Form dated March 27, 2015. Refer to
Endnotes under the heading “Cautionary note to U.S. readers concerning estimates of mineral reserves and mineral resources” and “Technical Information”. Reserves have been removed and updated to reflect 4% of gold reserve on El Morro.
2. Refer to Endnote on all-in sustaining costs under the heading “Non-GAAP Measures”.
3. Based on ~325Koz annual production from Rainy River (first nine years) and ~485Koz annual production from Blackwater (first nine years), as outlined in the feasibility studies for the projects. Excludes 30% share of El Morro production.
>80% of gold
reserves located
in Canada
Further strengthened
Board and executive
team over last year
~800 Koz annual
production
potential from
growth projects(3)
Q3’15 all-in
sustaining costs(2)
of $788/oz
4. Corporate developments
41. Assumes completion of El Morro transaction and receipt of second installment of $75 million from Royal Gold. Completion of the sale of New Gold’s interest in El Morro is conditional on the closing of the El Morro-Relincho joint venture between
Goldcorp Inc. and Teck Resources Limited as well as other key conditions. Second installment of $75 million is to be paid when 60% of development capital spent and other customary conditions are satisfied.
• The two transactions collectively increased our liquidity position by ~$235 million and eliminated
$94 million of debt(1)
~$330 million improvement in financial position
without equity issuance
Sale of $175 million Rainy River stream to Royal Gold
Sale of 30% interest in El Morro to Goldcorp
JULY 2015
AUGUST 2015
5. Rainy River stream – Transaction highlights
5
INCREASES FINANCIAL FLEXIBILITY
PROVIDES ATTRACTIVE COST OF CAPITAL
MINIMIZES IMPACT TO CONTINUED PROJECT UPSIDE
MAXIMIZES EXPOSURE TO GOLD PRICE UPSIDE
Secured 20% of total development
capital for less than 6% of estimated
future revenues(1)(2)(3)
Increases project rate of return to
equity holders by approximately 3%(1)
Stream percentage reduced by 50%
to 3.25% gold and 30% silver after
threshold ounces(4) delivered
Ongoing cash payments to New Gold
at 25% of spot gold and silver prices
1. Second instalment of $75 million is to be paid when 60% of development capital spent and other customary conditions are satisfied.
2. Based on $877 million total development capital.
3. Based on a gold price of $1,200/oz and silver price of $16/oz and first nine years of full production from 2018 through 2026.
4. Threshold ounces defined as 230,000 gold ounces and 3.1 million silver ounces.
• On July 20, 2015 New Gold announced a $175 million streaming transaction with Royal Gold on
future gold and silver production from Rainy River
IRR TO ROYAL GOLD
Gold Price ($/oz)
Silver Price ($/oz)
$1,100
$14.00
$1,200
$16.00
$1,300
$18.00
IRR (%) 2.5% 3.7% 4.9%
6. 6
El Morro – Transaction highlights
ENHANCED
FINANCIAL FLEXIBILITY
CONTINUED
OPTIONALITY
INCREASED
LIQUIDITY
CASH(1)
$90million
ELIMINATION OF
CARRIED FUNDING
$94million
DECREASED
DEBT
SIMPLIFIED STRUCTURE
PARTICIPATION IN UPSIDE
COST CERTAINTY
FOCUSED EXPOSURE
ON GOLD
$400per oz
Fixed transfer price(2)
4%gold stream
Life-of-project
8.9moz
Gold reserve
PROJECT BEING DEVELOPED
BY TWO PROVEN OPERATORS
417km
Land package
2
1. The total gross transaction proceeds will be subject to tax. Net proceeds expected to be approximately $60 million.
2. On first 217,000 ounces of gold.
3. Completion of the sale of New Gold’s interest in El Morro is conditional on the closing of the El Morro-Relincho joint venture between Goldcorp Inc. and Teck Resources Limited as well as other key conditions.
7. 7
Stream comparison
El Morro Rainy River (gold portion)(1)
Initial gold stream percentage 4% 6.5%
Average annual stream ounces (Koz) >16 ~16
Total gold reserves (Moz) 8.9 3.8
Reserves subject to stream (Koz) 356 247
Transfer price pre-threshold ($ per ounce) $400 25% of spot gold price
Ounce threshold (Koz) 217 230
Gold stream percentage post-threshold 4% 3.25%
M&I gold resources (exclusive) (Moz) 1.2 2.9
M&I gold resources subject to stream (exclusive) (Koz) 49 94
Inferred gold resource (Moz) 6.5 0.6
Inferred resources subject to stream (Koz) 258 21
Transfer price post-threshold ($ per ounce) $400 + 1% inflation factor 25% of spot gold price
1. Does note include portion of stream attributable to silver. New Gold to deliver 60% of the Project's silver production up to a total of 3.1 million ounces of silver, and 30% of the Project's silver production thereafter. Royal Gold to pay 25% of the average
silver spot price.
8. 8
Strong balance sheet
1. Cash and equivalents as at September 30, 2015.
2. $62 million of $300 million facility used for Letters of Credit at September 30, 2015.
3. El Morro cash proceeds net of tax. Completion of the El Morro transaction is subject to certain conditions.
4. Second installment of $75 million to be paid when 60% of development capital spent and other customary conditions are satisfied.
$758million
LIQUIDITY POSITION
$238 million
UNDRAWN
CREDIT
FACILITY(2)
CASH AND
EQUIVALENTS(1)
$385 million
ONGOING SUSTAINING
FREE CASH FLOW
GENERATION
$135 million
REMAINING PROCEEDS FROM
EL MORRO(3) AND STREAM(4)
9. Portfolio of assets in top-rated jurisdictions
Blackwater
New Afton
Rainy River
Mesquite
Cerro San Pedro
El Morro
Peak Mines
Mine Life: 17 years
Mine Life: 8 years + C-zone potential
Mine Life: 14 years
Mine Life: 8 years + residual leach
Mine Life: 1 year + residual leach
4% gold stream(2)
Mine Life: 6+ years
#1
CANADA
#3
UNITED
STATES
#5
MEXICO
#4
CHILE
#2
AUSTRALIA
OPERATING
DEVELOPMENT
9
All Assets Ranked in Top 5 Global Mining Jurisdictions(1)
1. Based on 2015 Behre Dolbear Report – “2015 Ranking of Countries for Mining Investment”.
2. Assumes completion of El Morro transaction.
3. For a detailed breakdown of mineral resources and reserves by category and the key assumptions and parameters, refer to Appendix 5. Refer to Endnotes under the heading “Cautionary note to U.S. readers concerning estimates of mineral reserves
and mineral resources” and “Technical Information”. Reserve figure assumes closing of El Morro transaction. Reserves have been removed and updated to reflect 4% of gold reserve on El Morro.
Gold Moz
Silver Moz
Copper Blbs
Mineral Reserves(3)
15.3
82.0
0.9
10. 10
Experienced and invested team
BOARD OF DIRECTORS
David Emerson Former Canadian Cabinet Minister
James Estey Chairman, PrairieSky Royalty
Robert Gallagher President & Chief Executive Officer
Vahan Kololian Founder, TerraNova Partners
Martyn Konig Former Executive Chairman, European Goldfields
Pierre Lassonde Chairman, Franco-Nevada
Randall Oliphant Executive Chairman
Kay Priestly Former Chief Executive Officer, Turquoise Hill Resources
Raymond Threlkeld Chairman, Newmarket Gold
EXECUTIVE MANAGEMENT TEAM
Randall Oliphant
Executive Chairman
Robert Gallagher
President & Chief Executive Officer
Brian Penny
Executive Vice President &
Chief Financial Officer
David Schummer
Executive Vice President &
Chief Operating Officer
Hannes Portmann
Vice President Corporate Development
$50 million collectively invested in New Gold
11. 11
2015 third quarter highlights
Production
122,580oz - Gold
24.6mlbs - Copper
Balance Sheet
$385million
Cash balance at September 30, 2015
Costs
$495per oz
Total cash costs(1)
$788per oz
All-in sustaining costs(2)
Corporate Developments
Further strengthened
financial flexibility through
two previously announced
transactions
• Rainy River streaming
transaction
• Sale of El Morro
Financial
$
58million
Net cash generated from operations
before changes in working capital(3)
$
51million
Net cash generated from operations
Rainy River
Construction advancing
on schedule
Site earthworks over 50%
complete and key initial
mining equipment
successfully commissioned
1. Refer to Endnote on total cash costs under the heading “Non-GAAP Measures”.
2. Refer to Endnote on all-in sustaining costs under the heading “Non-GAAP Measures”.
3. Refer to Endnote on net cash generated from operations before changes in working capital under the heading “Non-GAAP Measures”.
12. 12
• New Gold’s 2015 gold
production has the
potential to be toward
the high end of guidance
• All-in sustaining costs(3) and
total cash costs(2) annual
guidance ranges have
increased due to:
• Lower realized copper
prices
• Copper production at low
end of guidance
• Increased gold
production contribution
from Mesquite
Strong first nine months 2015 performance
YTD 2015 ACTUAL(1)
304Koz
2015 GUIDANCE
Gold production(2)
390–430 Koz
$464/oz
Total cash costs(3)
$430–$450 /oz
$895/oz
All-in sustaining costs(4)
$840–$860 /oz
1. As at September 30, 2015.
2. Gold, copper and silver sales expected to be in the same range as production, however, will differ as a result of timing of sales and net payable concentrate sales.
3. Refer to Endnote on total cash costs under the heading “Non-GAAP Measures”. All total cash cost estimates (excluding historical amounts) in this presentation assume the following commodity prices and exchange rates: Silver - $16.00 per ounce,
Copper - $2.75 per pound, and CDN/USD - $1.25, AUD/USD - $1.25, MXN/USD - $15.00, unless otherwise stated. Updated cost guidance from October 28, 2015 news release.
4. Refer to Endnote on all-in sustaining costs under the heading “Non-GAAP Measures”. All all-in sustaining cost estimates (excluding historical amounts) in this presentation assume the following commodity prices and exchange rates: Silver - $16.00 per
ounce, Copper - $2.75 per pound, and CDN/USD - $1.25, AUD/USD - $1.25, MXN/USD - $15.00, unless otherwise stated. Updated cost guidance from October 28, 2015 news release.
71Mlbs
Copper production
100–112 Mlbs
1.38Moz
Silver production
1.75–1.95 Moz
13. Reinvesting free cash flow generation
131. Refer to Endnote on sustaining free cash flow under the heading “Non-GAAP Measures”. Sustaining free cash flow is equal to cash generated from operations less sustaining capital expenditures. As at September 30, 2015.
2. Refer to Endnote on all-in sustaining costs under the heading “Non-GAAP Measures”.
YTD’15 Sustaining Free Cash Flow(1)
• +75% of current
company
production at
lower all-in
sustaining costs(2)
RAINY RIVER
• +120% of current
company
production at
lower all-in
sustaining costs(2)
BLACKWATER
• Opportunity to
extend mine life of
New Gold’s most
significant cash
flow generator
NEW AFTON C-ZONE
Investing in longer-lived, larger-scale, lower-cost assets
Mill Expansion Capital
Below $45 million budget
• Successfully commissioned,
ahead of schedule and under
budget
• ~4% increase in copper
recoveries Q3’15 versus Q1’15
• ~3% increase in gold recoveries
Q3’15 versus Q1’15
• Current throughput ~15,300
tonnes per day
MILL EXPANSION
~$35 million
$80million
14. $200
$336
$701
$873
$1,153
$1,259
$1,141
$219
$246
$305
$432
$596
$793
$409
Early 2010 Mid-2010 Early 2011 Mid-2011 Early 2012 Mid-2012 Sept 2015
14
New Afton value creation
Value
Creation
($19)
$90
$396
$441
$557
$466
New Afton NAV ($mm)
New Afton capital spend ($mm)
~$1,100
~$3.25
$1,130
$2.35
$11million
VALUE CREATION(2)
1. Net investment equal to total development
capital ($793 million) plus sustaining and growth
capital of $304 million (mid-2012 to Sept. 30,
2015) less total operating margin of $688 million
(mid-2012 to Sept. 30, 2015).
• Operating margin calculated as revenue
less operating expenses
2. Value creation equal to current New Afton
analyst consensus net asset value less net
investment.
Gold Price ($/oz)
Copper Price ($/lb)
$732 $
1,141millionCurrent NAV
Net Investment(1)
$
732million
/
$
409million
Achieved
commercial
production
$1.05 $1.31Foreign Exchange (CDN/USD)
Rainy River less than two years from commercial production
$
1.44per sh.
15. 15
Rainy River overview
1. Based on 2015 Behre Dolbear Report – “2015 Ranking of Countries for Mining Investment”.
2. For a detailed breakdown of mineral resources and reserves by category and the key assumptions and parameters, refer to Appendix 5. Refer to Endnotes under the heading “Cautionary note to U.S. readers concerning estimates of mineral reserves
and mineral resources” and “Technical Information”.
• 17km tie-in to power and close to
regional infrastructure
• Land package over 190 square
kilometres
• Supportive local government and
community
JURISDICTION RESOURCE SCALE(2)
Ontario, Canada
GOLD
RESERVES
3.1Moz at 1.0g/t
OPEN PIT
UNDERGROUND
0.7Moz at 5.0g/t
3.8Moz
#1
GOLD M&I
RESOURCES
2.2Moz at 0.9g/t
OPEN PIT
UNDERGROUND
0.7Moz at 4.0g/t
2.9 Moz
Construction activities remain on time and on budget
16. Rainy River overview (cont’d)
16
Concrete batch plant
Concrete foundation for processing facility
1. As at September 30, 2015.
2. Current plan based on $1.25 C$/US$ foreign exchange rate.
START-UP / COMMISSIONING
REMAINING DEVELOPMENT
CAPITAL ESTIMATE(1)(2)
2015 CAPITAL SPEND ESTIMATE(2)
Mid-2017
• $168 million spent through
September 30, 2015
$709million
• ~80% in Canadian dollars
$300million
Commencement of structural steel erection
Aerial view of grinding building foundation
17. 17
Rainy River project economics
1. Net present value discounted to October 1, 2015. IRR and payback period inclusive of all project development costs. Stream proceeds included as a net reduction to capital costs. Assumes second installment of stream proceeds paid in mid-2016.
2. Refer to Endnote on total cash costs under the heading “Non-GAAP Measures”. First nine years.
3. Refer to Endnote on all-in sustaining costs under the heading “Non-GAAP Measures”. First nine years.
• $0.05 change in exchange
rate equals ~$60 million
change in after-tax NAV and
1.8% change in IRR
• $100 per ounce change in
gold price equals ~$175
million change in after-tax
NAV and 3.8% change in IRR
Average Mill
Head Grade (g/t)
Underground Grade (g/t)
Open Pit Grade (g/t)
0
50
100
150
200
250
300
350
2017 2018 2019 2020 2021
Open Pit Underground
1.5 1.5 1.5 1.5 1.5
Thousandounces
1.5
--
1.5
--
1.4
4.5
1.4
4.8
1.3
5.3
PROJECT ECONOMICS(1) GRADE, PRODUCTION AND COST PROFILES
$670 /oz
ALL-IN SUSTAINING COSTS(3)
Gold Price ($/oz)
Silver Price ($/oz)
CDN/USD ($)
$1,200
$16.00
$1.25
After-tax
5% NPV ($mm) $492
IRR (%) 11.9
Payback (years) 5.8
$570 /oz
TOTAL CASH COSTS(2)
18. Rainy River funding
18
• Stream proceeds of $175 million
together with $60 million cash
proceeds from El Morro
transaction provide meaningful
contribution towards funding
Rainy River
• Amount of free cash flow
generated over next two years
to determine if any draw
required on credit facility
• Sustaining free cash
flow(1) of over $270 million
over last two years
$385
$709
$135
$238
Liquidity Rainy River
Development
Cash Balance Sept 30/15
Remaining Proceeds from
El Morro(2) and Stream(3)
Rainy River Remaining
Development Capital(4)
Available Credit Facility
Sustaining Free Cash Flow
from Operations(1)
1. Sustaining free cash flow is equal to cash generated from operations less sustaining capital expenditures from October 1, 2013 to September 30, 2015.
2. El Morro cash proceeds net of tax. Completion of the El Morro transaction is subject to certain conditions.
3. Second instalment of $75 million to be paid when 60% of development capital spent and other customary conditions are satisfied.
4. As at September 30, 2015.
19. REGIONAL UPSIDESIGNIFICANT GOLD AND SILVER RESOURCE
Blackwater
19
British Columbia,
Canada
#1
8.2 Moz
1.1 Moz
~1,100 km2
Land Package
First nine years:
485 Koz
$590 /oz17-year
JURISDICTION 2013 FEASIBILITY STUDY
1. Based on 2015 Behre Dolbear Report – “2015 Ranking of Countries for Mining Investment”.
2. Development capital assumes $1.25 CDN/USD exchange rate.
3. Refer to Endnote on all-in sustaining costs under the heading “Non-GAAP Measures”.
4. Mineral resources are exclusive of reserves. For a detailed breakdown of mineral resources and reserves by category and the key assumptions and parameters, refer to Appendix 5. Refer to Endnotes under the heading “Cautionary note to U.S. readers
concerning estimates of mineral reserves and mineral resources” and “Technical Information”. Includes Capoose M&I resources.
~$1,576million
60.8 Moz
7.0 Moz
20. 20
New Afton – C-zone opportunity
1. For a detailed breakdown of mineral resources and reserves by category and the key assumptions and parameters, refer to Appendix 5. Refer to Endnotes under the heading “Cautionary note to U.S. readers concerning estimates of mineral reserves
and mineral resources” and “Technical Information”.
Average
Grade
Contained
Metal
Gold 0.76 g/t 0.5Moz
Copper 0.80% 0.4Blbs
SCOPING STUDY HIGHLIGHTS
• Five year mine life – 21.5 million tonnes
mined/ processed
− 38 million tonnes of C-zone Measured
and Indicated resources
• Development capital of $349 million and
sustaining capital of $110 million
• Full year average production of 107 Koz
gold and 77 Mlbs copper
• Average operating cost of $19.24 per tonne
Additional resource potential remaining
C-ZONE SCOPE(1)
New Afton
Pit
Main
B1 & B2 Zone
B3 Block
C-zone
Main Zone
Extraction Level
790m
630m
1,180m
C-zone Block
Cave Volume
21. Multiple growth initiatives(1)
21
1. Based on ~325Koz annual production from Rainy River (first nine years) and ~485Koz annual production from Blackwater (first nine years) as outlined in the feasibility studies for the projects.
Successfully Commissioned
• New Afton mill expansion
Construction
• Rainy River – 325 Koz of
annual production
Permitting
• Blackwater – 485 Koz of
annual production
Engineering/Planning
• New Afton C-zone
• El Morro
New Gold has multiple organic growth options in its portfolio
2015E GOLD
PRODUCTION
BLACKWATER
RAINY RIVER
NEW AFTON
EXPANSION
390-430 Koz
22. 22
New Gold looking forward
15+ years
~$620 /oz
AVERAGE ANNUAL GOLD
PRODUCTION PER ASSET
ALL-IN SUSTAINING COSTS(3)
WEIGHTED AVERAGE
7 years
~100 Koz
~$850 /oz
CURRENT PORTFOLIO
>2x
4x
($230) /oz
ORGANIC GROWTH PROJECTS(2)
AVERAGE
MINE LIFE
Investing in longer-lived, larger-scale, lower-cost assets
1. Based on 13 years at New Afton (including C-zone), 8 years at Mesquite, 6 years at Peak Mines and one year at Cerro San Pedro.
2. Based on Rainy River and Blackwater projects.
3. Refer to Endnote on all-in sustaining costs under the heading “Non-GAAP Measures”.
~400 Koz
(1)
23. New Gold investment thesis
23
A history
of value
creation
Peer-leading
growth pipeline
Among
lowest-cost
producers with
established track
record
Invested and
experienced
team
Portfolio
of assets
in top-rated
jurisdictions
Establishing the
leading intermediate
gold company
25. Summary of debt
25
Undrawn Credit
Facility
Senior Unsecured Notes
(April 2012)
Senior Unsecured Notes
(November 2012)
El Morro Funding
Loan
Face Value $300 million(1) $300 million $500 million $94 million
Maturity 4 years with annual
extensions permitted
April 15, 2020 November 15, 2022 n/a
Interest Rate See ‘Key features’ 7.00% 6.25% 4.58%
Payable Revolving credit Semi-annually Semi-annually Upon start of
production
Conversion price n/a n/a n/a n/a
Current trading value n/a ~95 ~84 n/a
Key features • Normal financial
covenants
• Net Debt/EBITDA
of 3.5:1
Interest Rate
• 2.00-3.25% over
LIBOR based on
ratios
• Standby fee of 0.45-
0.73%
• Senior unsecured
• Redeemable after April 15,
2016 at 103.5% down to
100% of face after 2018
• Unlimited dividends if
leverage ratio below 2:1
• Senior unsecured
• Redeemable after
November 15, 2017 at par
plus half coupon, declining
ratably to par
• Unlimited dividends if
leverage ratio below 2:1
New Gold to repay
Goldcorp out of
80% of its 30%
share of cash flow
once El Morro
starts production
1. $62 million of $300 million facility used for Letters of Credit at September 30, 2015.
Appendix 1
Funding loan
eliminated at closing
26. 26
Appendix 1
New Afton 27 (533) (20) 75 (769) (203)
Mesquite 43 718 892 92 800 1,300
Peak Mines 21 894 1,250 55 941 1,302
Cerro San Pedro 32 731 749 82 852 866
Consolidated(3) 123 495 788 304 464 895
New Afton co-product costs(1)
Gold ($/oz) 471 671 476 682
Copper ($/lb) 0.94 1.33 1.01 1.44
2015 THIRD QUARTER
Gold production
(000s ounces)
Cash costs(1)
($/oz)
All-in sustaining
costs(2) ($/oz)
2015 YEAR TO DATE(4)
Gold production
(000s ounces)
Cash costs(1)
($/oz)
All-in sustaining
costs(2) ($/oz)
NEW AFTON
2015 THIRD QUARTER
Co-product
cash costs(1)
Co-product all-in
sustaining costs(2)
NEW AFTON
2015 YEAR TO DATE(4)
Co-product
cash costs(1)
Co-product all-in
sustaining costs(2)
Mine-by-mine operating results
1. Refer to Endnote on total cash costs under the heading “Non-GAAP Measures”.
2. Refer to Endnote on all-in sustaining costs under the heading “Non-GAAP Measures”.
3. Consolidated all-in sustaining costs includes corporate general and administrative expenses.
4. For the nine months ended September 30, 2015.
5. Figures may not add due to rounding.
27. 2015 third quarter consolidated financial summary
27
Appendix 1
Three months ended Sept 30 Nine months ended Sept 30
2015 2014 2015 2014
Revenues ($ million) $177 $169 $514 $538
Operating margin(1) ($ million) 72 75 211 250
Adjusted net (loss)/earnings(2)
($ million)
(9) 5 (14) 32
Adjusted net (loss)/earnings per share(2)
($/share)
(0.02) 0.01 (0.03) 0.06
Net (loss)/earnings ($ million) (158) (60) (192) (45)
Net (loss)/earnings per share ($/share) (0.31) (0.12) (0.38) (0.09)
Net cash generated from operations
before changes in working capital(3)
($ million)
58 79 189 241
Net cash generated from operations
($ million)
51 58 178 199
AVERAGE REALIZED PRICES
$1,236
$1,117
GOLD ($/oz):
(10%)
$3.11
$2.23
COPPER ($/lb):
(28%)
$19.66
$14.72
SILVER ($/oz):
(25%)
1. Refer to Endnote on operating margin under the heading “Non-GAAP Measures”.
2. Refer to Endnote on adjusted net earnings under the heading “Non-GAAP Measures”.
3. Refer to Endnote on net cash generated from operations before changes in working capital under the heading “Non-GAAP Measures”.
28. $465
$418
$446
$421
$377
$312
$478
$557
$643
$766 $767
$736
28
Cash cost history
Industry
New Gold
2014
Incremental
Benefit to NGD
Shareholder
2009
(2)
New Gold versus Industry Average Total Cash Costs,(1) Net of By-Product Credits
1. Refer to Endnote on total cash costs under the heading “Non-GAAP Measures”.
2. Industry data per GFMS reports calculated net of by-product credits for each year and for the first half 2014.
Appendix 1
30. 30
2015 all-in sustaining costs sensitivities
1. Refer to Endnote on all-in sustaining costs under the heading “Non-GAAP Measures”.
Appendix 1
Category Copper Price Silver Price AUD/USD CDN/USD MXN/USD Diesel
Base Assumption $2.75 $16.00 $1.25 $1.25 $15.00 $2.25
Sensitivity +/-$0.25 +/-$1.00 +/-$0.05 +/-$0.05 +/-$1.00 +/-$0.25
COST PER OUNCE IMPACT
New Afton +/-$200 -- -- +/-$90 -- --
Mesquite -- -- -- -- -- +/-$15
Peak Mines +/-$40 -- +/-$90 -- -- --
Cerro San Pedro -- +/-$20 -- -- +/-$50 --
New Gold Total +/-$65 +/-$5 +/-$20 +/-$25 +/-$10 +/-$5
31. 31
2015 capital expenditures by category
TOTAL CAPITAL
$480million
SUSTAINING CAPITAL: ~$145 million GROWTH CAPITAL: ~$335 million
NEW AFTON
$55 million
MESQUITE
$65 million(1)
PEAK MINES
$25 million
CERRO SAN PEDRO
$2 million
RAINY RIVER
$300 million
NEW AFTON
$25 million
BLACKWATER
$8 million
1. Mesquite sustaining capital includes $25 million of capitalized waste stripping that was previously scheduled to be expensed.
2. Totals may not add due to rounding.
Appendix 1
32. 32
2015 capital expenditures by category
Rainy River – $300 million New Afton – $80 million Mesquite – $65 million
• $190 million – mining,
infrastructure and process facilities
• $110 million – owner’s costs,
indirects and other
• $55 million – ~3,100 metre
development, drawbell
development, tailings lift, SAG
discharge screen and equipment
• $20 million – mill expansion
completion
• $5 million – C-zone studies
• $25 million – leach pad expansion
• $15 million – major components/
equipment
• $25 million – capitalized waste
stripping that was previously
scheduled to be expensed
Sustaining capital
Appendix 1
33. 33
2015 capital expenditures by category (cont’d)
Peak Mines – $25 million Blackwater – $8 million
• $15 million – development and
capitalized exploration
• $10 million – equipment
replacements and upgrades
• $8 million – permitting,
environmental studies and
site support
Sustaining capital
Appendix 1
34. 2015 exploration program overview
34
MESQUITE (15%)
PEAK MINES (40%)
RAINY RIVER (20%)
BLACKWATER (25%)
1. Circle proportions are representative of both capitalized and expensed exploration for each respective asset. Total includes expenses of corporate exploration team.
$17million
EXPENSED
CAPITALIZED
$6million
$11million
(included in capital expenditures)
Expensed - $2 million
Capitalized - $3 million
Expensed - $4 million
Capitalized - $3 million
Expensed - $4 million
Appendix 1
35. New Afton C-zone scoping study summary
35
• Total tonnes to be mined/processed
- 21.5 million (M&I – 38.0 million)
• Mine life of five years, including ramp-up period
− Contained metal - 522,000 ounces of gold
and 377 million pounds of copper
• Full-year production to average 107,000 ounces
of gold and 77 million pounds of copper
• Average gold and copper grades of 0.76 grams
per tonne and 0.80%
• Development capital of $349 million and
sustaining capital of $110 million
− Majority of mining equipment from current
operation would be utilized for C-zone
• Average operating cost of $19.24 per tonne
(2014A - $17.35); drivers of increase versus
current operating cost:
− Increase in conveying distance
− Ventilation costs
− Pumping costs
• Cash costs in line with current operations
DEVELOPMENT CAPITAL DETAILS
1. The scoping study discussed above is based on measured, indicated and inferred resources and is preliminary in nature. Accordingly, the scoping study is subject to a high degree of uncertainty. The scoping study includes mineral resources that are considered too speculative
geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty the scoping study will be realized. Refer to Appendix 6 for additional information. The key parameters and assumptions associated
with the C- zone scoping study do not impact on the current New Afton mining operation or the New Afton B-zone reserves.
CRUSH/CONVEY SYSTEMS (19%)
TAILINGS (16%)
CONTINGENCY/OTHER (24%)
C-ZONE DEVELOPMENT (37%)
MOBILE EQUIPMENT PURCHASE (4%)
Appendix 2
36. New Afton C-zone opportunities and ongoing analysis
36
• Additional exploration drilling to expand and
increase resources
− Assess potential of increasing tonnes
mined from current 21.5 million tonnes
• Further test work to optimize flowsheet
ONGOING EVALUATIONOPPORTUNITIES
• Test work to confirm stabilization of tailings
within the existing facility through a
dewatering and consolidation program
• Ongoing monitoring, modelling and analysis
for mining subsidence impacts
• Optimize underground mine designs and
development schedule
• Baseline data collection to support
permitting
Appendix 2
37. New Afton C-zone milestones
37
C-ZONE PROJECT MILESTONES
Action Item Indicative Timeline
Complete C-zone feasibility study Q1 2016
Receipt of permits/construction decision Q1 2017
Start development of access ramps Q2 2017
Commission underground conveyor/crusher 2022
First ore conveyed 2023
Achieve full production 2024
Appendix 2
39. 39
Rainy River – Committed to date(1)
Appendix 3
Description Estimate
Total Spent /
Committed
Direct Costs
Mining 157 70
On-Site Infrastructure 88 50
Process Plant 298 187
Tailings Facility 61 30
Access Corridor 16 13
Off-Site Facilities 22 10
Total Direct Capital Costs 641 360
Owner's and Indirect Costs
Other Indirects 150 90
Owner's Costs 87 60
Total Owner's & Indirect Capital Costs 237 150
Total Project $877 $510
PROJECT DEVELOPMENT CAPITAL COSTS ($mm)(2)(3)
~58% of total capital
spent/committed to date
SPENT TO DATE(1)
$168 million
FIXED PRICE AND
QUANTITIES
$137 million
FIXED UNIT PRICES,
VARIABLE QUANTITIES
$205 million
Detailed engineering completed
1. As at September 30, 2015.
2. Current plan based on $1.25 C$/US$ foreign exchange rate. Contingency has been distributed across the cost items.
3. Numbers may not add due to rounding.
40. Rainy River timeline
40
Appendix 3
2014
2015 2016 2017
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Complete Feasibility Study
Submit Environmental Assessment Report
Order Long Lead Equipment
Award EPCM Contract
Detailed Engineering & Procurement
Provincial Environmental Assessment Approval
Federal Environmental Assessment Approval
Process Plant Construction
Tailings & Water Management Facilities Construction
Delivery of Pre-Stripping Mine Equipment
Power Line Construction
Commence Pre-Strip & Pit Development
Commissioning
Targeted milestones
Mid-2017 – Start-up and Commissioning
41. Rainy River site construction images
41
Appendix 3
Grinding Building
Primary Crusher Foundation
Highway 600 Realignment
Primary Crusher Foundation
42. Rainy River site construction images (cont’d)
42
Appendix 3
Ball Mill Foundation West Creek Diversion
Treatment PondPlant site area - 20,000 cubic metres of rock blasted
Kitchen at the camp
Additional Precast
43. Rainy River open pit equipment
43
Appendix 3
• Primary mobile equipment fleet will move 68 Mtpy of ore, waste and
overburden at peak production rates
Equipment Model Units
Required During
Development
Currently At Site
Haul trucks Komatsu 830E 218t 22 9 7
Hydraulic shovels (diesel) Komatsu PC5500 26m3 2 2 2
Hydraulic shovel (electric) Komatsu PC7000 29m3 1 0 0
Large wheel loader Komatsu WA1200 18m3 1 1 1
Blasthole drills Sandvik DR461i 3 2 0
Dozers Komatsu D375/D475 6 4 3
Graders Cat 16M 3 2 0
Pioneering drills Sandvik DR580 2 2 2
44. Rainy River underground equipment
44
Appendix 3
• Underground development scheduled to begin once production from open pit commences
• Primary equipment fleet will mine 1,500 tpd of ore at full production rates
Equipment Specification Units
Required During
Underground Development
Jumbo drill Sandvik DD421 3 2
Load-Haul-Dump Loader Cat R2900 4 2
Haul Truck Cat AD45 6 4
Mechanized Bolter Sandvik DS411 2 2
Production Long Hole Drill Sandvik DL431 2 0
Face Charger, Explosives Loader Normet Charmec MF 605 2 2
Production Explosives Loader Bulk Modules 1 0
Shotecrete Sprayer Normet Spraymec 1050WP 1 1
Transmixer Normet Ultimec LF600 1 1
45. Superior province gold districts
45
Appendix 3
From Poulsen et al. (2000)
14 Moz produced
28 Moz total endowment
7+ Moz
QFZ
Porcupine
46. 46
Blackwater – Project economics
BLACKWATER
• Assumes construction begins in 2018
• $0.05 change in exchange rate equals
~$135 million change in after-tax NAV
and 1.2% change in IRR
• $100 per ounce change in gold price
equals ~$235 million change in
after-tax NAV and 1.0% change in IRR
Gold Price ($/oz)
Silver Price ($/oz)
CDN/USD ($)
$1,200
$16.00
$1.25
After-tax
5% NPV ($mm) $669
IRR (%) 11.3
Payback (years) 5.7
Appendix 4
47. TRANSACTION HIGHLIGHTS
El Morro
47
#4
$90 million in cash(4)
4% gold stream
Elimination of carried funding loan - $93 million
$400 per ounce fixed transfer price(5)
JURISDICTION
1. Based on 2015 Behre Dolbear Report – “2015 Ranking of Countries for Mining Investment”.
2. For a detailed breakdown of mineral resources and reserves by category and the key assumptions and parameters, refer to Appendix 6. Refer to Endnotes under the heading “Cautionary note to U.S. readers concerning estimates of mineral reserves
and mineral resources” and “Technical Information”.
3. Completion of the sale of New Gold’s interest in El Morro is conditional on the closing of the El Morro-Relincho joint venture between Goldcorp Inc. and Teck Resources Limited as well as other key conditions.
4. The total gross transaction proceeds will be subject to tax. Net proceeds expected to be approximately $60 million.
5. On first 217,000 ounces of gold.
Chile
GOLD RESERVES AND RESOURCES (100% BASIS)
8.9 Moz @ 0.5 g/t
Reserves(2) – Open Pit
Inferred Resources(2) – Potential Block Cave
3.6 Moz @ 1.0 g/t
Appendix 4
48. 2015 exploration program overview
48
2015 PROGRAM2014 ACHIEVEMENTS
Peak Mines
Blackwater
Rainy River
• 67,567 metres of exploration and resource conversion
drilling along mine corridor
• Replaced >90% of gold and copper reserves
• High-grade exploration drill intercepts at Great Cobar
• Regional airborne geophysical survey over 90% of tenements
• ~53,000 metres of underground exploration; ~7,000
metres of surface exploration drilling
• Underground resource delineation and reserves conversion
• Surface exploration drilling along mine corridor targets
• Surface exploration targeting of priority regional targets
• 11,045 metres of reconnaissance drilling at Blackwater
South, Key and Van Tine prospects
• Discovered high grade porphyry-style mineralization two
kilometres south of main Blackwater deposit
• Confirmed multiple centres of gold mineralization in region
• Potential reconnaissance drilling to follow up on
2014 results
• Focus on high-grade opportunities immediately south of
Blackwater mine development area
• Extend surface geophysical coverage over southern area
• Expand surface mapping and sampling coverage
• 61,800 metres of exploration and development drilling
• Discovered new prospective volcanic massive sulphide
(“VMS”) horizon south of Intrepid Zone
• Tested potential to expand open pit and underground
reserves
• Completed condemnation drilling program to confirm
suitability of locations for planned facilities
• Potential reconnaissance drilling to test for gold-
bearing VMS bodies
• Focus on high-grade opportunities
• Expand surface mapping and sampling coverage
Appendix 5
49. 491. 2013 information per Annual Information Form dated March 28, 2014. Reserve figure assumes closing of El Morro transaction. Prior 30% share of El Morro reserve figure has been removed and updated to reflect 4% gold reserve on the entire El Morro
project.
Reserves and resources summary
Appendix 5
Gold
Koz
Silver
Moz
Copper
Mlbs
Gold
Koz
Silver
Moz
Copper
Mlbs
Proven and Probable reserves 15,328 82 870 18,538 90 2,953
New Afton 760 3 781 879 4 904
Mesquite 1,679 - - 2,237 - -
Peak Mines 375 1 89 412 1 98
Cerro San Pedro 215 8 - 392 16 -
Rainy River 3,772 9 - 3,773 9 -
Blackwater 8,170 61 - 8,170 61 -
El Morro (4% gold stream) 357 - - 2,675 - 1,951
Measured and Indicated resources (exclusive of reserves) 7,777 34 1,473 9,134 35 1,552
Inferred resources 1,810 21 189 4,161 30 1,820
MINERAL RESERVES AND RESOURCES SUMMARY TABLE AS AT DECEMBER 31, 2014
Asat December 31, 2014 Asat December 31, 2013
50. 50
Reserves and resources summary (cont’d)
Appendix 5
Mineral Reserves estimate as at December 31, 2014
Tonnes
000s
Gold
g/t
Silver
g/t
Copper
%
Gold
Koz
Silver
Koz
Copper
Mlbs
NEW AFTON
Proven - - - - - - -
Probable 42,026 0.56 2.3 0.84 760 3,119 781
Total New Afton P&P 42,026 0.56 2.3 0.84 760 3,119 781
MESQUITE
Proven 16,330 0.48 - - 250 - -
Probable 77,392 0.57 - - 1,429 - -
Total Mesquite P&P 93,722 0.56 - - 1,679 - -
PEAK MINES
Proven 1,520 4.35 7.2 1.21 213 351 41
Probable 1,800 2.79 6.5 1.23 162 377 49
Total Peak Mines P&P 3,330 3.51 6.8 1.22 375 728 89
CERRO SAN PEDRO
Proven 4,616 0.55 18.8 - 82 2,798 -
Probable 7,514 0.55 21.2 - 133 5,126 -
Total CSP P&P 12,130 0.55 20.3 - 215 7,924 -
Metal grade Contained metal
51. 51
Reserves and resources summary (cont’d)
Appendix 5
Mineral Reserves estimate as at December 31, 2014
Tonnes
000s
Gold
g/t
Silver
g/t
Copper
%
Gold
Koz
Silver
Koz
Copper
Mlbs
RAINY RIVER
Direct processing material
Open Pit
Proven 15,839 1.47 2.0 - 746 1,038 -
Probable 46,866 1.26 3.1 - 1,896 4,594 -
Open Pit P&P (direct processing) 62,705 1.31 2.8 - 2,642 5,632 -
Underground
Proven - - - - - - -
Probable 4,187 4.96 10.3 - 668 1,388 -
Underground P&P (direct processing) 4,187 4.96 10.3 - 668 1,388 -
Stockpile material
Open Pit
Proven 6,843 0.38 1.5 - 84 332 -
Probable 30,541 0.39 2.1 - 378 2,058 -
Open Pit P&P (stockpile) 37,384 0.39 2.0 - 462 2,390 -
Total P&P
Proven 22,682 1.14 1.9 - 830 1,370 -
Probable 81,594 1.12 3.1 - 2,942 8,040 -
Total Rainy River P&P 104,276 1.13 2.8 - 3,772 9,410 -
BLACKWATER
Direct processing material
Proven 124,500 0.95 5.5 - 3,790 22,100 -
Probable 169,700 0.68 4.1 - 3,730 22,300 -
P&P (direct processing) 294,200 0.79 4.7 - 7,520 44,400 -
Stockpile material
Proven 20,100 0.50 3.6 - 325 2,300 -
Probable 30,100 0.34 14.6 - 325 14,100 -
P&P (stockpile) 50,200 0.40 10.2 - 650 16,400 -
Total Blackwater P&P 344,400 0.74 5.5 - 8,170 60,800 -
EL MORRO
Proven 321,814 0.56 - 0.55 233 - -
Probable 277,240 0.35 - 0.43 124 - -
Total El Morro P&P 599,054 0.46 - 0.49 357 - -
Total P&P 15,328 81,981 870
Metal grade Contained metal
100% Basis 4% gold stream
1. Reserve figure assumes closing of El Morro transaction. Prior 30% share of El Morro reserve figure has been removed and updated to reflect 4% gold reserve on the entire El Morro project.
53. 53
Reserves and resources summary (cont’d)
Appendix 5
Measured and Indicated Mineral Resource estimate (exclusive of Reserves) as at December 31, 2014
Tonnes
000s
Gold
g/t
Silver
g/t
Copper
%
Gold
Koz
Silver
Koz
Copper
Mlbs
RAINY RIVER
Direct processing material
Open Pit
Measured 3,416 1.35 1.8 - 148 199 -
Indicated 36,899 1.30 3.6 - 1,548 4,284 -
Open Pit M&I (direct processing) 40,315 1.31 3.5 - 1,696 4,483 -
Underground
Measured - - - - - - -
Indicated 5,595 3.99 15.2 - 718 2,728 -
Underground M&I (direct processing) 5,595 3.99 15.2 - 718 2,728 -
Stockpile material
Open Pit
Measured 1,232 0.35 1.2 - 14 49 -
Indicated 34,118 0.43 2.5 - 468 2,739 -
Open Pit M&I (stockpile) 35,350 0.42 2.5 - 482 2,788 -
Total M&I
Measured 4,648 1.08 1.7 - 162 248 -
Indicated 76,612 1.11 3.9 - 2,734 9,751 -
Total Rainy River M&I 81,260 1.11 3.8 - 2,896 9,999 -
BLACKWATER
Direct processing material
Measured 293 1.38 6.7 - 13 63 -
Indicated 36,411 0.85 4.6 - 999 5,385 -
M&I (direct processing) 36,703 0.86 4.6 - 1,011 5,448 -
Stockpile material
Measured - - - - - - -
Indicated 12,659 0.31 3.9 - 124 1,587 -
M&I (stockpile) 12,659 0.31 3.9 - 124 1,587 -
Total Blackwater M&I 49,362 0.72 4.4 - 1,136 7,035 -
CAPOOSE
Indicated 16,071 0.57 21.7 - 293 11,233 -
EL MORRO
Measured 19,790 0.53 - 0.51 14 - -
Indicated 72,563 0.38 - 0.39 35 - -
Total El Morro M&I 92,353 0.41 - 0.42 49 - -
Total M&I 7,777 34,283 1,472
Metal grade Contained metal
100% Basis 4% gold stream
1. Reserve figure assumes closing of El Morro transaction. Prior 30% share of El Morro reserve figure has been removed and updated to reflect 4% gold reserve on the entire El Morro project.
54. 54
Reserves and resources summary (cont’d)
Appendix 5
1. Reserve figure assumes closing of El Morro transaction. Prior 30% share of El Morro reserve figure has been removed and updated to reflect 4% gold reserve on the entire El Morro project.
Inferred Resource estimate as at December 31, 2014
Tonnes
000s
Gold
g/t
Silver
g/t
Copper
%
Gold
Koz
Silver
Koz
Copper
Mlbs
NEW AFTON
A&B-zones 6,154 0.35 1.4 0.37 69 269 50
C-zone 6,965 0.47 1.5 0.53 105 329 82
HW Lens 966 0.69 1.5 0.46 21 45 10
Total New Afton Inferred 14,085 0.43 1.4 0.46 195 643 142
MESQUITE 6,619 0.33 - - 70 - -
PEAK MINES 1,600 1.77 6.2 1.33 92 320 47
CERRO SAN PEDRO 199 0.56 19.1 - 4 122 -
RAINY RIVER
Direct processing
Open Pit 7,785 0.82 2.7 - 206 665 -
Underground 2,609 4.20 7.6 - 352 635 -
Total Direct Processing 10,394 1.67 3.9 - 558 1,300 -
Stockpile
Open Pit 7,694 0.32 4.2 - 79 1,036 -
Total Rainy River Inferred 18,088 1.10 4.0 - 637 2,336 -
BLACKWATER
Direct processing 8,915 0.81 3.5 - 233 1,003 -
Stockpile 1,881 0.32 3.3 - 19 200 -
Total Blackwater Inferred 10,796 0.73 3.5 - 252 1,203 -
CAPOOSE 19,776 0.48 26.2 - 302 16,670 -
El MORRO
El Morro - Open Pit 564,217 0.16 - 0.26 116 - -
El Morro - Underground 113,840 0.97 - 0.78 142 - -
Total Inferred 1,810 21,294 189
Metal grade Contained metal
100% Basis 4% gold stream
55. 55
1) New Gold’s Mineral Reserves and Mineral Resources have been estimated in accordance with the CIM Standards, which are incorporated by reference in NI 43-101.
2) For year-end 2014 mineral reserves for the Company’s mineral properties have been estimated based on the following metal prices and lower cut-off criteria:
Mineral Property Gold
(US$/oz)
Silver
(US$/oz)
Copper
(US$/lb)
Lower Cut-off
New Afton $1,200 $18.00 $3.00 US$21.00/t B1 & B2 Zone, US$24/t B3
Mesquite $1,200 - - 0.21 g/t Au – Oxide and transition reserves
0.41 g/t Au – Non-oxide reserves
Peak Mines $1,200 $18.00 $3.00 A$88 – A$133/t NSR
Cerro San Pedro $1,200 $18.00 - US$4.00/t
Rainy River $1,200 $18.00 - Open Pit Direct Processing: 0.30 – 0.70 g/t AuEq
Open Pit Stockpile: 0.30 g/t AuEq
Underground: 3.50 g/t AuEq
Blackwater $1,200 $18.00 - Direct processing: 0.26 – 0.38 g/t AuEq
Stockpile: 0.32 g/t AuEq
El Morro $1,300 - $3.00 0.20% CuEq
Reserves and resources notes
Appendix 5
56. 56
3) New Gold reports its Measured and Indicated Mineral Resources exclusive of Mineral Reserves. Measured and Indicated Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability. Inferred Mineral Resources have a greater amount of uncertainty as to their existence, economic and legal feasibility, do not have demonstrated economic
viability, and are likewise exclusive of Mineral Reserves.
4) Year-end 2014 Mineral Resources for the Company’s mineral properties (other than the Mineral Resource estimates for the Rainy River Project and Blackwater Project, which are
effective March 10, 2015) have been estimated based on the following metal prices and lower cut-off criteria:
5) Mineral Resources are classified as Measured, Indicated and Inferred and are reported based on technical and economic parameters consistent with the methods most suitable for their
potential commercial exploitation. Where different mining and/or processing methods might be applied to different portions of a Mineral Resource, the designators ‘open pit’ and
‘underground’ have been applied to indicate envisioned mining method. Likewise the designators ‘oxide’, ‘non-oxide’ and ‘sulphide’ have been applied to indicate the type of mineralization
as it relates to appropriate mineral processing method and expected payable metal recoveries. Mineral Reserves and Mineral Resources may be materially affected by environmental,
permitting, legal, title, taxation, sociopolitical, marketing and other risks and relevant issues. Additional details regarding Mineral Reserve and Mineral Resource estimation, classification,
reporting parameters, key assumptions and associated risks for each of New Gold’s material properties are provided in the respective NI 43-101 Technical Reports which are available at
www.sedar.com.
6) All Mineral Resource and Mineral Reserve estimates for New Gold’s operating properties and El Morro Project are effective December 31, 2014. For the Rainy River and Blackwater
Projects, the Mineral Resource estimates are effective March 10, 2015 and the Mineral Reserve estimates are effective December 31, 2014. For the Rainy River Project, the Mineral
Resource estimate reflects New Gold’s acquisition of Bayfield, which was effective January 1, 2015.
Mineral Property Gold
(US$/oz)
Silver
(US$/oz)
Copper
(US$/lb)
Lower Cut-off
New Afton $1,300 $20.00 $3.25 0.40% CuEq
Mesquite $1,300 - - 0.12 g/t Au – Oxide and transition resources
0.24 g/t Au – Non-oxide resources
Peak Mines $1,300 $20.00 $3.25 A$93 – A$133/t NSR
Cerro San Pedro $1,300 $20.00 - 0.10 g/t AuEq – Open pit oxide resources
0.30 g/t AuEq – Open pit sulphide resources
Rainy River $1,300 $20.00 - Open Pit Direct Processing: 0.30 – 0.45 g/t AuEq
Open Pit Stockpile: 0.30 g/t AuEq
Underground: 2.50 g/t AuEq
Blackwater $1,300 $20.00 - Direct processing: 0.40 g/t AuEq
Stockpile: 0.30 – 0.40 g/t AuEq
Capoose $1,300 $20.00 - 0.40 g/t AuEq
El Morro $1,500 - $3.50 0.20% CuEq
Reserves and resources notes (cont’d)
Appendix 5
58. Endnotes
58
CAUTIONARY NOTE TO U.S. READERS CONCERNING ESTIMATES OF MINERAL RESERVES AND MINERAL RESOURCES
Information concerning the properties and operations of New Gold has been prepared in accordance with Canadian standards under applicable Canadian securities laws, and may not be
comparable to similar information for United States companies. The terms “Mineral Resource”, “Measured Mineral Resource”, “Indicated Mineral Resource” and “Inferred Mineral Resource”
used in this presentation are Canadian mining terms as defined in the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Definition Standards for Mineral Resources and Mineral
Reserves adopted by CIM Council on May 10, 2014 and incorporated by reference in National Instrument 43-101 (“NI 43-101”). While the terms “Mineral Resource”, “Measured Mineral
Resource”, “Indicated Mineral Resource” and “Inferred Mineral Resource” are recognized and required by Canadian securities regulations, they are not defined terms under standards of the
United States Securities and Exchange Commission. As such, certain information contained in this presentation concerning descriptions of mineralization and resources under Canadian
standards is not comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the United States Securities and Exchange
Commission.
An “Inferred Mineral Resource” has a great amount of uncertainty as to its existence and as to its economic and legal feasibility. Under Canadian rules, estimates of inferred mineral resources
may not form the basis of feasibility of pre-feasibility studies. It cannot be assumed that all or any part of an “Inferred Mineral Resource” will ever be upgraded to a higher confidence category.
Readers are cautioned not to assume that all or any part of an “Inferred Mineral Resource” exists or is economically or legally mineable.
Under United States standards, mineralization may not be classified as a “Reserve” unless the determination has been made that the mineralization could be economically and legally
produced or extracted at the time the reserve estimation is made. Readers are cautioned not to assume that all or any part of the measured or indicated mineral resources will ever be
converted into mineral reserves. In addition, the definitions of “Proven Mineral Reserves” and “Probable Mineral Reserves” under CIM standards differ in certain respects from the standards of
the United States Securities and Exchange Commission.
TECHNICAL INFORMATION
The scientific and technical information in this presentation has been reviewed and approved by Mark A. Petersen, Vice President, Exploration of New Gold. Mr. Petersen is an AIPG Certified
Professional Geologist and a “Qualified Person” under National Instrument 43-101.
59. Endnotes (cont’d)
59
NON-GAAP MEASURES
(1) ALL-IN SUSTAINING COSTS
Consistent with guidance announced in 2013 by the World Gold Council, an association of various gold mining companies from around the world of which New Gold is a member, New Gold
defines “all-in sustaining costs” per ounce as the sum of total cash costs, capital expenditures that are sustaining in nature, corporate general and administrative costs, capitalized and
expensed exploration that is sustaining in nature and environmental reclamation costs, all divided by the ounces of gold sold to arrive at a per ounce figure. New Gold believes this non-GAAP
financial measure provides further transparency into costs associated with producing gold and will assist analysts, investors and other stakeholders of the company in assessing the company’s
operating performance, its ability to generate free cash flow from current operations and its overall value. This data is furnished to provide additional information and is a non-GAAP financial
measure. All-in sustaining costs presented do not have a standardized meaning under IFRS and may not be comparable to similar measures presented by other mining companies. It should
not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS and is not necessarily indicative of cash flow from operations under IFRS or
operating costs presented under IFRS. Further details regarding historical all-in sustaining costs and a reconciliation to the nearest IFRS measures are provided in the MD&A accompanying
New Gold’s financial statements filed from time to time on www.sedar.com.
(2) TOTAL CASH COSTS
“Total cash costs” per ounce figures are non-GAAP measures which are calculated in accordance with a standard developed by The Gold Institute, a worldwide association of suppliers of gold
and gold products that ceased operations in 2002. Adoption of the standard is voluntary and the cost measures presented may not be comparable to other similarly titled measures of other
companies. New Gold reports total cash costs on a sales basis. The company believes that certain investors use this information to evaluate the company’s performance and ability to
generate liquidity through operating cash flow to fund future capital expenditures and working capital needs. This measure, along with sales, is considered to be a key indicator of the
company’s ability to generate operating earnings and cash flow from its mining operations. Total cash costs include mine site operating costs such as mining, processing and administration
costs, royalties, production taxes, and realized gains and losses on fuel contracts, but are exclusive of amortization, reclamation, capital and exploration costs and net of by-product sales.
Total cash costs are then divided by ounces of gold sold to arrive at a per ounce figure. Co-product cash costs remove the impact of other metal sales that are produced as a by-product of
gold production and apportion the cash costs to each metal produced on a percentage of revenue basis, and subsequently divides the amount by the total ounces of gold or silver or pounds of
copper sold, as the case may be, to arrive at per ounce or per pound figures. Unless otherwise indicated, all total cash cost information in this presentation is net of by-product sales. This data
is furnished to provide additional information and is a non-GAAP financial measure. Total cash costs and co-product cash costs presented do not have a standardized meaning under IFRS
and may not be comparable to similar measures presented by other mining companies. It should not be considered in isolation or as a substitute for measures of performance prepared in
accordance with IFRS and is not necessarily indicative of cash flow from operations under IFRS or operating costs presented under GAAP. Further details regarding historical total cash costs
and a reconciliation to the nearest IFRS measures are provided in the MD&A accompanying New Gold’s financial statements filed from time to time on www.sedar.com.
(3) AVERAGE REALIZED PRICE
“Average realized price per ounce or pound sold” is a non-GAAP financial measure with no standard meaning under IFRS. Management uses this measure to better understand the price
realized in each reporting period for gold, silver, and copper sales. Average realized price includes realized gains and losses from gold hedge settlements up until May 15, 2013 but excludes
from revenues unrealized gains and losses on non-hedged derivative contracts and the revenue reduction related to the non-cash accounting charge as the loss incurred on the monetization
of the company’s legacy hedge position is realized into income over the original term of the hedge contract. Average realized price is intended to provide additional information only and does
not have any standardized definition under IFRS; it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies
may calculate this measure differently and this measure is unlikely to be comparable to similar measures presented by other companies.
60. Endnotes (cont’d)
60
(4) ADJUSTED NET EARNINGS
“Adjusted net earnings” and “adjusted net earnings per share” are non-GAAP financial measures. Net earnings have been adjusted and tax affected for the group of costs in “Other gains and
losses” on the condensed consolidated income statement. The adjusted entries are also impacted for tax to the extent that the underlying entries are impacted for tax in the unadjusted net
earnings from continuing operations. The company uses this measure for its own internal purposes. Management’s internal budgets and forecasts and public guidance do not reflect fair value
changes on senior notes and non-hedged derivatives, foreign currency translation and fair value through profit or loss and financial asset gains/losses. Consequently, the presentation of
adjusted net earnings and adjusted net earnings per share enables investors and analysts to better understand the underlying operating performance of our core mining business through the
eyes of management. Management periodically evaluates the components of adjusted net earnings and adjusted net earnings per share based on an internal assessment of performance
measures that are useful for evaluating the operating performance of our business and a review of the non-GAAP measures used by mining industry analysts and other mining companies.
Adjusted net earnings and adjusted net earnings per share are intended to provide additional information only and do not have any standardized meaning under IFRS and may not be
comparable to similar measures presented by other companies. They should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
The measures are not necessarily indicative of operating profit or cash flows from operations as determined under IFRS.
(5) SUSTANING FREE CASH FLOW
“Sustaining free cash flow” is a non-GAAP financial measure with no standard meaning under IFRS, which management uses to further evaluate the company’s results of operations in each
reporting period. Sustaining free cash flow is calculated as cash generated from operations less sustaining capital expenditures. Sustaining free cash flow is intended to provide additional
information only and does not have any standardized meaning under IFRS; it should not be considered in isolation or as a substitute for measures of performance prepared in accordance with
IFRS. Other companies may calculate this measure differently and this measure is unlikely to be comparable to similar measures presented by other companies.
(6) NET CASH GENERATED FROM OPERATIONS BEFORE CHANGES IN NON-CASH OPERATING WORKING CAPITAL
“Adjusted net cash generated from operations before changes in working capital” is a non-GAAP financial measure. Net cash generated from operations has been adjusted for one-time
charges incurred in 2013 related to the settlement of the company’s legacy gold hedge position, the company’s acquisition of the Rainy River project and a one-time tax refund related to the
filing of amended tax returns for prior periods at the Peak Mines. There is also an adjustment to remove the impact of the change in working capital. The company believes the presentation of
adjusted net cash generated from operations before changes in working capital enables investors and analysts to better understand the underlying operating performance of our core mining
business. Adjusted net cash generated from operations before changes in working capital is intended to provide additional information only and does not have any standardized meaning
under IFRS. It should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.