VANCOUVER, BC, Feb. 21, 2025 /PRNewswire/ - New Found Gold Corp. ("New Found" or the "Company") (TSX-V: NFG, NYSE-A: NFGC) is pleased to announce the Company will be participating in several conferences over the next month, beginning with the BMO Global Metals, Mining and Critical Metals Conference ("BMO Conference"). The focus for New Found will be the Company's 100% owned Queensway Gold Project ("Queensway") located in Newfoundland and Labrador, Canada.Keith Boyle, CEO of New Found, stated: "With New Foun ...

Core Viewpoint - Rua Gold Inc. has successfully closed a brokered public offering, raising C$5.75 million through the issuance of 9,583,410 common shares at a price of C$0.60 per share, including the full exercise of the over-allotment option [1][2][3] Group 1: Offering Details - The offering generated aggregate gross proceeds of C$5,750,046 and was fully subscribed [1] - The net proceeds will be utilized for the exploration program on the Reefton Project and for general corporate purposes [2] - The offering was completed under an agency agreement with Cormark Securities Inc. as the sole agent [3] Group 2: Financial Arrangements - The Company paid a cash fee of C$269,999 to the agent and issued 575,004 broker warrants, each exercisable at C$0.60 for 24 months [4] - Insiders subscribed for a total of 1,890,109 common shares, which is considered a related party transaction [6][7] Group 3: Company Background - Rua Gold is focused on exploration in New Zealand, controlling over 120,000 hectares in the Reefton Gold District, which has historically produced over 2 million ounces of gold [9][10] - The Glamorgan Project further establishes Rua Gold's position as a leading high-grade gold explorer in New Zealand, adjacent to significant mining operations [11]

Core Viewpoint - Allied Gold Corporation has provided its 2025 operating guidance, projecting a significant increase in gold production and outlining its medium-term outlook, including updates on Mineral Reserves and Mineral Resources [1][2]. 2025 Guidance - The company anticipates producing between 375,000 and 400,000 ounces of gold in 2025, marking a year-over-year increase, with the higher end of the range dependent on increasing oxide ore feed from the Hire area at Agbaou [3][4]. - Production is expected to be back-half weighted, with a first-half/second-half split of 45%/55%, and Q4 2025 production projected to be 56% higher than Q1 2025 [4][9]. Cost Projections - The projected mine-site level All-In Sustaining Costs (AISC) for 2025 are estimated to be between US$1,690 and US$1,790 per ounce, reflecting operational improvements at Bonikro and Sadiola [5][9]. - Cash costs for Sadiola are projected at US$1,630 to US$1,715 per ounce, while Bonikro's cash costs are expected to be between US$1,230 and US$1,300 per ounce [6]. Capital Expenditures - Total capital expenditures for 2025 are expected to be US$352 million for expansionary capital and US$100 million for sustaining capital, with significant investments in production stripping at Bonikro and Agbaou [7][8]. - Bonikro is anticipated to incur US$60 million in capital expenditures related to production stripping, which is expected to enhance future cash flows [7]. Production Outlook 2026-2027 - Sadiola's production is expected to increase to between 200,000 and 230,000 ounces annually in 2026 and 2027, driven by additional oxide ores and higher-grade fresh rock [11][13]. - Bonikro aims for stable production averaging 100,000 ounces annually, with potential reductions in AISC below US$1,500 starting in 2026 due to waste stripping [14]. Mineral Reserves and Resources Update - As of December 31, 2024, Proven and Probable Mineral Reserves were reported at 10.8 million ounces of gold, with total Measured and Indicated Mineral Resources at 15.7 million ounces [18][31]. - The company has adopted more conservative assumptions regarding operational factors to improve ore control and predictability of operations [17]. Upcoming Events - The company will release its fourth quarter and year-end 2024 operational and financial results on March 26, 2025, followed by a conference call on March 27, 2025 [24].

Core Viewpoint - New Gold Inc. demonstrated strong cost discipline in 2024, achieving all-in sustaining costs below guidance and generating significant free cash flow while continuing to invest in growth projects [2][5][6]. Financial Highlights - Full year 2024 production totaled 298,303 gold ounces at all-in sustaining costs of $1,239 per gold ounce, beating the low end of the guidance range [1][3]. - Revenue for Q4 2024 was $262.2 million, up from $199.2 million in Q4 2023, and full year revenue increased to $924.5 million from $786.5 million [3]. - Operating expenses decreased to $112.4 million in Q4 2024 from $120.8 million in Q4 2023, contributing to improved net earnings of $55.1 million compared to a loss of $27.4 million in the prior year [3][6]. - Free cash flow for 2024 was $84.9 million, significantly higher than $16.6 million in 2023 [3][5]. Operational Highlights - Q4 2024 gold production was 80,438 ounces, a slight increase from 79,187 ounces in Q4 2023, while copper production rose to 14.5 million pounds from 12.0 million pounds [4][5]. - All-in sustaining costs for Q4 2024 were $1,018 per gold ounce, a 31% decrease from the prior year [5][9]. - The New Afton Mine achieved its lowest all-in sustaining costs of the year in Q4 2024, while Rainy River Mine faced production challenges due to mechanical downtime [5][19]. Cost Management - The company maintained strong cost performance, with operating expenses per gold ounce sold decreasing to $1,093 in Q4 2024 from $1,154 in Q4 2023 [4][8]. - All-in sustaining costs per gold ounce sold on a by-product basis for the full year were well below the guidance range of $1,425 to $1,525 [9][19]. - Sustaining capital expenditures for the year were $87.5 million, down from $121.6 million in 2023, reflecting efficient capital management [4][11]. Growth and Investment - New Gold invested over $270 million in total capital in 2024, including $184 million in growth capital, which facilitated the advancement of key projects [5][11]. - The company is focused on increasing production in the coming years through ongoing exploration and development initiatives [1][2].

Core Viewpoint - New Found Gold Corp. has made significant management changes, appointing Dr. Fiona Childe, Dr. Jared Saunders, and Robert Assabgui to key positions, while also announcing the resignations of Greg Matheson and Ron Hampton. These changes are aimed at advancing the company's strategic goals, particularly regarding the Queensway Project [1][2][3][5]. Management Appointments - Dr. Fiona Childe has been appointed as Vice President, Communications and Corporate Development, bringing over 25 years of experience in the mining industry, focusing on capital markets and corporate development [6]. - Dr. Jared Saunders has been promoted to Vice President, Sustainability, leveraging his two decades of experience in environmental sciences and his previous role as Director of Environment and Regulatory Affairs [7]. - Robert Assabgui has been appointed as Study Manager, with a strong background in project management and engineering within the mining sector [8]. Resignations - Greg Matheson, the Chief Operating Officer, will resign effective February 28, 2025, but will continue to support the company as an advisor [3][4]. - Ron Hampton, the Chief Development Officer, has stepped down immediately, with the company expressing gratitude for his contributions [5]. Upcoming Milestones - The company plans to release a maiden mineral resource estimate for the Queensway Project in early Q2 2025, followed by a preliminary economic assessment later in the same quarter [2]. - New Found Gold Corp. is currently conducting a 650,000-meter drill program at the Queensway Project, which is strategically located near Gander, Newfoundland and Labrador [9].

Core Insights - Barrick Gold Corporation reported net earnings of $996 million or 57 cents per share for Q4 2024, an increase from $479 million or 27 cents per share in the same quarter last year [1] - Adjusted earnings per share were 46 cents, surpassing the Zacks Consensus Estimate of 41 cents [1] - Total sales reached $3,645 million, reflecting a year-over-year increase of approximately 19.2% [2] Operational Highlights - Total gold production was 1,080,000 ounces, up about 2.5% year over year [3] - The average realized price of gold was $2,657 per ounce, an increase of around 33.8% [3] - Cost of sales rose about 5.1% year over year to $1,428 per ounce, while all-in-sustaining costs (AISC) increased approximately 6.4% to $1,451 per ounce [3] Financial Position - At the end of the quarter, Barrick had cash and cash equivalents of $4,074 million, down 1.8% year over year [4] - Total debt stood at $4,729 million, unchanged from the previous year [4] - Operating cash flow was $1,392 million, with free cash flow amounting to $501 million [4] FY24 Results - For the full year 2024, Barrick reported total sales of $12,922 million, a 13% increase from the previous year [5] - Earnings surged 69% year over year to $1.22 per share, while adjusted net earnings rose 50% to $1.26 [5] - Operating cash flows increased by 20% year over year to nearly $4.5 billion, and free cash flow surged 104% to $1,317 million [5] Guidance - For 2025, Barrick anticipates attributable gold production between 3.15-3.5 million ounces [6] - AISC is projected to be $1,460-$1,560 per ounce, with cash costs per ounce forecasted at $1,050-$1,130 [6] - Copper production is expected to be between 200,000-230,000 tons, with AISC of $2.80-$3.10 per pound [6] Capital Expenditures and Share Buyback - Total attributable capital expenditures are projected to be in the range of $3,100-$3,600 million for 2025 [7] - The board authorized a new share repurchase program of up to $1 billion over the next 12 months, terminating the previous program [7] - Under the 2024 program, Barrick bought back $498 million in common shares [7] Price Performance - Barrick's shares have increased by 29.3% over the past year, compared to a 57.1% rise in the industry [8]

Core Viewpoint - New Gold Inc. has provided a three-year operational outlook and filed updated technical reports for its New Afton and Rainy River mines, highlighting increased mineral reserves and a strong production profile with reduced costs and significant free cash flow generation [1][3][6]. Group 1: Operational Outlook - The company expects gold production in 2025 to be between 325,000 and 365,000 ounces, approximately 16% higher than in 2024, driven by increased production at Rainy River [12]. - Consolidated cash costs for 2025 are projected to decrease by about 20% compared to 2024, ranging from $600 to $700 per ounce, while all-in sustaining costs are expected to be between $1,025 and $1,125 per ounce, a decrease of approximately 17% [12][24]. - The total capital expenditure for 2025 is anticipated to be between $270 million and $315 million, with sustaining capital expected to be $95 million to $110 million and growth capital between $175 million and $205 million [13][19]. Group 2: Mineral Reserves and Resources - As of December 31, 2024, New Gold reported total mineral reserves of 2,954,000 ounces of gold, 7.8 million ounces of silver, and 631 million pounds of copper, with significant increases in reserves at both New Afton and Rainy River [33][39]. - New Afton’s mineral reserves increased by 15% for copper and 13% for gold compared to year-end 2023, extending the mine life to 2031 [8][40]. - Rainy River's mineral reserves decreased by 2% due to mining depletion but were offset by the addition of Phase 5, which has been optimized to increase gold reserves [8][41]. Group 3: Production and Cost Projections - New Afton is expected to ramp up production to 16,000 tonnes per day by 2026, with total operating costs averaging less than $30 per tonne [8]. - Rainy River is projected to average approximately 300,000 ounces of gold production per year over the next three years, with total cash costs expected to remain between $875 and $975 per ounce [23][24]. - The company anticipates a significant increase in copper production in 2027, expected to be between 95 to 115 million pounds, approximately 94% higher than 2024 [16]. Group 4: Exploration and Growth Strategy - The company plans to prioritize organic growth through exploration, with a budget of approximately $30 million for 2025, focusing on advancing the K-Zone at New Afton and near-surface exploration at Rainy River [9][21]. - Exploration efforts will target high-tonnage open pit material to maintain mill feed at full capacity beyond 2029, with a focus on converting inferred resources into reserves [27][28]. - The development of a new underground drilling platform at Rainy River is expected to accelerate exploration and definition drilling, scheduled to be operational in the fourth quarter of 2025 [28].

Results for Q4 and Year Ending 31 December 2024… Cautionary Statement on Forward-Looking Information… Certain information contained or incorporated by reference in this presentation, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "expect", "target", "plan", "guidance", "ramp up", "on track", "project", "cont ...

Financial Data and Key Metrics Changes - EBITDA increased by 30% with EBITDA margins growing both quarter on quarter and for the year [8] - Adjusted net earnings per share grew 50% year on year to $1.26 [8] - Operating cash flow for the quarter was up 18% to $1.4 billion, totaling $4.5 billion for the year, the highest since 2020 [11] - Free cash flow increased by 104% to $1.3 billion for 2024 [11] - The quarterly dividend was maintained at $0.10 per share, with $354 million in share repurchases in Q4, totaling nearly $500 million for the year [9] Business Line Data and Key Metrics Changes - Gold production increased by 15% quarter on quarter, with a 3% reduction in cost of sales and a 5% decrease in total cash costs [10] - Copper production at Lemona achieved a quarterly production record, meeting production guidance for both copper and gold [10] Market Data and Key Metrics Changes - The company reported a significant improvement in production and costs driven by a strong Q4 performance across its operations, particularly from tier-one assets [16] - The company achieved the highest net earnings in a decade, reflecting strong market conditions for gold and copper [11] Company Strategy and Development Direction - The company aims to deliver sustainable long-term value by focusing on owning the best gold and copper assets [4] - Barrick Gold is committed to sustainability and aims to be the best gold and copper producer globally [7] - The company is targeting a 30% growth in gold equivalent ounces by the end of the decade, supported by ongoing investments in key projects [62] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the commodity price outlook, particularly for gold and copper, in a geopolitically uncertain world [5] - The company is focused on maintaining a strong balance sheet and funding growth without excessive debt or share issuance [5][62] - Management acknowledged challenges in Mali but emphasized the importance of finding a sustainable solution for operations there [36][108] Other Important Information - The company reported three fatalities in 2024, which management deemed unacceptable, while also noting improvements in safety metrics [12][13] - Significant progress was made in reserve replacement, adding substantial new reserves from La Moana and Riccardeck projects [9] Q&A Session Summary Question: Reduction in CapEx - The majority of the CapEx reduction relates to the Lulu project, with some minor changes in Nevada [64][65] Question: Standby Costs at Lulu - The company is currently in a breakeven position at Lulu and has reallocated experienced operators to other operations [66][67] Question: Outlook for 2027-2029 - The outlook assumes that Lulu restarts, but the company can support its long-term plans without it [71][72] Question: PV Relocation Efforts - The completion of the dam is expected by 2029, with ongoing consultations and negotiations for family relocations [74][76] Question: Four Mile Project Processing Facilities - The project is moving towards a prefeasibility study, with discussions on processing flexibility ongoing [83][84] Question: Payments to Malian Government - A one-off payment of $84 million was made to the Malian government, with ongoing negotiations for a sustainable solution [98][99] Question: Strategic Asset Review - The Zaldivar asset is not considered core, but the company is focused on getting permitting in place [111][112]

Alluvial Gold Research offers in-depth research on my favorite miners, ranked in order to aid in positioning in the most undervalued miners with upcoming catalysts to drive portfolio outperformance. Subscribers also get access to my current portfolios and buy/sell alerts, as well as the following:Analyst’s Disclosure: I/we have a beneficial long position in the shares of GOLD, ABX:CA either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. ...