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New Gold(NGD) - 2020 Q2 - Earnings Call Presentation
2020-07-30 19:15
Financial Performance - Q2 2020 gold equivalent production was 98,079 ounces, compared to 132,556 ounces in Q2 2019[7] - Revenues from mining operations in Q2 2020 were $128.5 million, down from $155.1 million in Q2 2019[10] - The average realized gold price in Q2 2020 was $1,516 per ounce, compared to $1,304 per ounce in Q2 2019[10] - All-in sustaining costs (AISC) in Q2 2020 were $1,283 per gold equivalent ounce, compared to $1,087 in Q2 2019[7] Liquidity and Capital Structure - Available liquidity as of June 30, 2020, was approximately $560 million, including $295 million in cash and cash equivalents and $265 million available under the credit facility[24] - The company completed a $300 million partnership with Ontario Teachers' Pension Plan on March 31, 2020[23] - The company expects C$190 million in cash proceeds from the divestment of the Blackwater Project, expected to close in Q3 2020[23] Operational Updates and Guidance - Revised 2020 consolidated gold production guidance is 284,000 - 304,000 ounces[33] - Revised 2020 consolidated gold equivalent production guidance is 415,000 - 455,000 ounces[33] - Revised 2020 all-in sustaining costs (AISC) guidance is $1,410 - $1,490 per gold equivalent ounce[33] - Sustaining capital and sustaining leases are estimated at $207 - $232 million for 2020[33]