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TORONTO, April 27, 2016 /CNW/ – New Gold Inc. (“New Gold”) (TSX:NGD) (NYSE MKT:NGD) today announces its 2016 first quarter results and provides an update on the construction of the company’s Rainy River project.
2016 FIRST QUARTER HIGHLIGHTS
- Gold production of 90,811 ounces and copper production of 25.4 million pounds
- All-in sustaining costs(1) of $758 per ounce, including total cash costs(2) of $354 per ounce
- Cash generated from operations before changes in non-cash operating working capital(3) of $62 million
- Cash generated from operations of $62 million
- Adjusted net loss(4) of $nil million, or $nil per share
- Net earnings of $27 million, or $0.05 per share
- Rainy River construction 30% complete at March 31, 2016 with $82 million in project capital expenditures during the quarter
- Construction currently 35% complete
- March 31, 2016 cash balance of $298 million