New Gold (TSX: NGD) reported Thursday evening that they achieved production guidance in 2025, following fourth quarter production results that consisted of 107,778 ounces of gold and 11 million pounds of copper.
Broken out, New Aton in Q4 produced 13,355 ounces of gold in addition to 11.0 million pounds of copper, while Rainy River produced 94,423 ounces of gold.
On a full year basis, production totaled at 353,772 ounces of gold and 50.1 million pounds of copper. Guidance had called for 325,000 to 365,000 ounces of gold production and 50 to 60 million pounds of copper to be produced in 2025. New Afton for the full year recorded production of 63,536 ounces of gold and 50.1 million pounds of copper, while Rainy River produced 290,236 ounces of gold.
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In terms of financial performance, New Gold disclosed that Q4 recorded free cash flow of $240 million, a figure which grew to $532 million for the full year. Cash generated from operations came out to $327 million in the fourth quarter, and $898 million for the full year.
Capital investments meanwhile totaled out at $310 million for the full fiscal year, and exploration expenditures totaled $38 million. Included within that exploration spend was over 126,000 metres of drilling.
“New Gold delivered as planned in the fourth quarter, allowing the Company to achieve its 2025 Strategic Goals set out at our Technical Session at the start of the year. [..] Rainy River delivered another standout quarter of free cash flow generation, surpassing the previous record set in the third quarter, leading to the Company generating over $532 million in free cash flow in a year that prioritized ramping up growth initiatives,” commented Patrick Godin, CEO of New Gold.
New Gold last traded at $14.47 on the TSX.
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