New Gold Announces Q3 2016 Results and Provide Rainy River Update

TORONTO, Oct. 27, 2016 – New Gold Inc. (“New Gold”) (TSX: NGD) (NYSE MKT:NGD) today announces its 2016 third quarter results and provides an update on the construction of the company’s Rainy River project.

All dollar figures are in US dollars unless otherwise indicated)


  • Gold production of 95,546 ounces and copper production of 25.5 million pounds
  • All-in sustaining costs(1) decreased to $682 per ounce, including total cash costs(2) of $350 per ounce
  • Cash generated from operations before changes in non-cash operating working capital(3)of $89 million, a 53% increase compared to 2015
  • Cash generated from operations of $90 million, a 76% increase from 2015
    • Highest quarterly cash flow since the fourth quarter of 2013
  • Adjusted net earnings(4) of $13 million, or $0.03 per share, relative to an adjusted net loss of $9 million, or $0.02 per share, in 2015
  • Net earnings of $5 million, or $0.01 per share, compared to a net loss of $158 million, or $0.31 per share, in 2015
  • Rainy River construction currently approximately 60% complete
  • September 30, 2016 cash and equivalents of $151 million

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