Core Insights - New Gold's shares increased by 11% following the release of strong third-quarter operating results [1] Production and Financial Performance - New Gold produced 115,213 ounces of gold and 12 million pounds of copper in Q3, with a 63% production increase at the Rainy River mine [3] - The New Afton mine produced 14,912 ounces of gold, exceeding expectations [3] - All-in sustaining costs were $966 per gold ounce sold, while the average realized price was $3,458 per ounce, leading to a significant cash flow increase [4][5] - Free cash flow surged by 225% from the previous quarter, reaching a record $205 million [5] Debt Management and Financial Position - The company utilized its cash generation to pay down $260 million of debt, enhancing its balance sheet [6] - New Gold ended the quarter with $123 million in cash and equivalents, alongside $394 million in long-term debt [6] Future Outlook - Management anticipates achieving full-year production targets of 325,000 to 365,000 ounces of gold and 50 million to 60 million pounds of copper in 2025 [7] - Construction at the New Afton mine is on schedule, expected to further increase production in Q4 [7]

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Core Insights - SpareBank 1 SMN reported a strong financial performance for Q3 2025, with a profit of NOK 1.171 billion and a return on equity of 15.9% [1] - The bank experienced strong net interest income, lower costs, and continued low loan losses, alongside contributions from associated companies [1] - The CET1 ratio stood at 17.8% at the end of the quarter, indicating a solid financial position despite the new mortgage loan floor [1] Financial Performance - The profit for the year to date reached NOK 3.305 billion, with a return on equity of 15.3%, although this represents a decrease of NOK 235 million compared to the same period last year [2] - The decrease in year-to-date profit is attributed to a significant one-off gain from a previous transaction involving Fremtind and Eika Insurance [2] Market Dynamics - Loan growth for the quarter was 0.8%, driven by strong retail market growth, while corporate market growth remained stagnant [1] - The real estate brokerage subsidiary performed well, achieving a strong seasonal quarter with increased units sold and higher prices per assignment [2]

Financial Data and Key Metrics Changes - The company reported third quarter revenue of $463 million, an increase from the prior year due to higher gold and copper prices and sales volumes [13] - Cash generated from operations before working capital adjustments was $296 million, or $0.37 per share, higher than the prior year period [13] - The company achieved record quarterly free cash flow of $205 million, driven by higher revenue [13] - Net earnings for the quarter were approximately $142 million, or $0.18 per share, primarily due to increased revenues [13][14] - All-in sustaining costs reduced from the second quarter by $425 to $966 per ounce, with an average realized gold price of $3,458 per ounce [5][14] Business Line Data and Key Metrics Changes - New Afton produced approximately 115,200 ounces of gold and 12 million lbs of copper in the quarter, with B3 cave overperforming [5][7] - Rainy River achieved record quarterly production of over 100,000 ounces of gold, a 63% increase over the second quarter, with all-in sustaining costs of $1,043 per ounce [4][10] - New Afton achieved an all-in sustaining cost of negative $595 per ounce after considering copper credits [7] Market Data and Key Metrics Changes - The average realized gold price was $3,458 per ounce, contributing to the increase in revenue [5][13] - The company expects all-in sustaining costs to reduce further through the fourth quarter [5] Company Strategy and Development Direction - The company is focused on increasing production and reducing costs, with a target of ramping up C-Zone to full processing capacity of approximately 16,000 tons per day by early 2026 [6][10] - Exploration initiatives are being advanced, with a significant increase in the exploration budget to $22 million for approximately 63,000 meters of drilling [15][18] - The company aims to generate approximately $1.8 billion of free cash flow over the next three years, with expectations of being at the high end of this projection for 2025 [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued significant growth in gold and copper production over the next two years, with expectations of decreasing unit costs per ounce of gold [19][20] - The company is committed to maintaining a strong balance sheet while investing in exploration and organic opportunities [29] - Management highlighted the importance of safety, with a low total recordable injury frequency rate of 0.61, down from 0.82 in the previous quarter [4][20] Other Important Information - The company repaid a total of $260 million in debt during the quarter, including the full repayment of a $150 million credit facility drawn earlier [6][14] - Significant safety milestones were achieved, with New Afton surpassing 1 million hours and Rainy River surpassing 1.5 million hours worked without a lost time injury [4] Q&A Session Summary Question: Can you provide a breakout of tonnage from the C-Zone and B-Zone? - The B-Zone contributed 4,300 tons per day, while the C-Zone contributed the remainder [24] Question: What are your plans for capital allocation with the free cash flow? - The company takes a disciplined approach to capital allocation, focusing on maintaining a strong balance sheet, investing in exploration, and evaluating capital returns to shareholders [29] Question: What is the expected grade for K-Zone? - The company is still in the drilling phase and will need to update models to determine the total size and grade of K-Zone [33] Question: Can you provide an update on tailings management at Rainy River? - The company is assessing the full potential of K-Zone and is not currently seeing a need for significant investment in the tailings management area [39] Question: What should we expect for Rainy River's performance in Q4? - The company expects continued positive performance in Rainy River, with no significant changes in trajectory [45] Question: How will the drilling results impact the resource update for K-Zone? - The company plans to include all drilling results in the resource update scheduled for January [49]

Financial Data and Key Metrics Changes - The third quarter revenue was $463 million, higher than the prior year quarter due to increased gold and copper prices and sales volumes [16] - Cash generated from operations before working capital adjustments was $296 million, or $0.37 per share, higher than the prior year period primarily due to higher revenues [16] - The company recorded net earnings of approximately $142 million, or $0.18 per share during the third quarter, primarily due to increased revenues [16][17] - The all-in sustaining costs reduced from the second quarter by $425 to $966 per ounce, with an average realized gold price of $3,458 per ounce, resulting in a margin of $2,492 per ounce [5][16] Business Line Data and Key Metrics Changes - New Afton produced approximately 115,200 ounces of gold and 12 million pounds of copper in the quarter, with B3 cave contributing approximately 4,300 tons per day [5][9] - Rainy River achieved record quarterly production of over 100,000 ounces of gold, a 63% increase over the second quarter, with all-in sustaining costs at $1,043 per ounce sold, a 39% decrease compared to the second quarter [4][12][13] Market Data and Key Metrics Changes - The average realized gold price was $3,458 per ounce, contributing to the overall revenue increase [5][16] - The company generated record quarterly free cash flow of $205 million, with Rainy River contributing $183 million in free cash flow [5][16] Company Strategy and Development Direction - The company aims to ramp up production at New Afton and Rainy River, with a focus on increasing underground development and production rates [6][14] - Exploration initiatives are being advanced, particularly at New Afton’s K Zone, with a budget increase to $22 million for approximately 63,000 meters of drilling [18][19] - The company is focused on maintaining a strong balance sheet while investing in exploration and organic opportunities, with plans for potential capital returns to shareholders [30][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued significant growth in gold and copper production over the next two years, projecting substantial free cash flow generation [22][24] - The company remains committed to health and safety, with a focus on reducing total reportable incident frequency rates [24] - Management highlighted the importance of local hiring and infrastructure improvements to enhance workforce retention [42] Other Important Information - The company repaid a total of $260 million in debt during the quarter, including $150 million drawn on the credit facility [6][17] - New Afton’s C Zone cave construction is approximately 79% complete, with plans to ramp up processing rates to 16,000 tons per day by early 2026 [6][12] Q&A Session Summary Question: Can you provide a breakout of tonnage from the C and B zones? - The B3 cave contributed 4,300 tons per day, with the C Zone contributing the remainder [26][27] Question: What are your plans for capital allocation with the free cash flow? - The company plans to maintain a strong balance sheet, invest in exploration, and evaluate capital returns to shareholders [30][31] Question: What is the current turnover rate and what are your targets for improvement? - The company is focusing on attracting local talent and improving infrastructure to retain workers, addressing the shortage of skilled miners in Ontario [42] Question: What should we expect for Rainy River's performance for the balance of the year? - The company expects continued positive performance in Rainy River, with no significant changes in trajectory [49] Question: How should we think about grades coming into 2026 at New Afton? - Grades at the start of a cave will be lower, but are expected to improve as the cave grows [56]

Group 1 - The article does not provide any relevant content regarding company or industry insights [1]

Q3 2025 Earnings Call and Webcast October 29, 2025 Cautionary Notes All amounts in U.S. Dollars unless otherwise stated Cautionary note regarding forward-looking statements Certain information contained in this presentation, including any information relating to New Gold's future financial or operating performance are "forward-looking". All statements in this presentation, other than statements of historical fact, which address events, results, outcomes or developments that New Gold expects to occur are "fo ...

Financial Performance - Revenues for Q3 2025 reached $462.5 million, a significant increase of 83.5% compared to $252.0 million in Q3 2024[4] - Net earnings for the nine months ended September 30, 2025, were $194.2 million, up 309.5% from $47.5 million in the same period of 2024[6] - Earnings from operations for Q3 2025 were $233.4 million, compared to $66.0 million in Q3 2024, reflecting a growth of 253.0%[4] - The company reported a total comprehensive income of $137.7 million for Q3 2025, compared to $43.6 million in Q3 2024, marking an increase of 215.4%[6] - Net earnings for Q3 2025 reached $142.3 million, a significant increase from $37.9 million in Q3 2024, representing a growth of 276%[12] - Cash generated from operations for the nine months ended September 30, 2025, was $571.2 million, compared to $283.2 million for the same period in 2024, reflecting a 101% increase[12] - Total revenues for the three months ended September 30, 2025, were $462.5 million, a significant increase from $252.0 million in the same period of 2024, representing an 83.5% year-over-year growth[94][96] - Gold revenues for the three months ended September 30, 2025, reached $405.0 million, compared to $203.2 million in the same period of 2024, marking a 99.5% increase[94][96] - For the nine months ended September 30, 2025, total revenues were $980.0 million, compared to $662.3 million for the same period in 2024, indicating a 48.0% increase[98][101] Assets and Liabilities - Total assets increased to $2,369.0 million as of September 30, 2025, up from $2,003.8 million at the end of 2024, representing an increase of 18.2%[8] - The company’s long-term debt stood at $394.0 million as of September 30, 2025, slightly down from $397.0 million at the end of 2024[8] - Total trade and other payables increased to $243.8 million as of September 30, 2025, compared to $196.1 million as of December 31, 2024[26] - The fair value of long-term debt is reported at $422.0 million as of September 30, 2025, compared to $404.0 million at the end of 2024[117] - The company’s reclamation and closure cost obligations increased to $123.9 million as of September 30, 2025, from $119.4 million at the end of 2024[82] Cash and Cash Equivalents - Cash and cash equivalents rose to $123.3 million as of September 30, 2025, compared to $105.2 million at the end of 2024, an increase of 17.5%[8] - The company’s cash and cash equivalents at the end of Q3 2025 were $123.3 million, slightly down from $132.6 million at the end of Q3 2024[12] - As of September 30, 2025, the carrying value of cash and cash equivalents is $123.3 million, an increase from $105.2 million as of December 31, 2024[117] Operating Expenses - Total operating expenses for Q3 2025 were $131.2 million, up from $107.6 million in Q3 2024, indicating a 22% increase[19] - The company reported operating expenses of $131.2 million for the three months ended September 30, 2025, compared to $107.6 million in the same period of 2024, which is a 22.0% increase[94][96] - The company recognized $123.5 million in inventory expenses for the three months ended September 30, 2025, up from $103.8 million in the same period of 2024, a 19.0% increase[28] Exploration and Development - The company reported exploration and business development expenses of $13.6 million in Q3 2025, up from $5.7 million in Q3 2024, indicating a growth of 138.6%[4] - Exploration and business development expenses for the nine months ended September 30, 2025, totaled $28.2 million, compared to $12.6 million for the same period in 2024, indicating a 123.8% increase[98][101] Financial Obligations and Commitments - The company incurred $75.6 million in mining interests for Q3 2025, compared to $62.5 million in Q3 2024, reflecting a 21% increase[12] - The Rainy River gold stream obligation requires the company to deliver 6.5% of gold production up to 230,000 ounces, and 60% of silver production up to 3.1 million ounces[51] - The company recognized a total gain of $8.6 million on the provisional pricing of concentrate sales for the three months ended September 30, 2025, which includes $5.7 million from realized gains and $4.9 million from unrealized gains[74] Shareholder Information - The weighted average number of shares outstanding increased to 791.7 million in Q3 2025 from 790.7 million in Q3 2024[4] - The company had 791.7 million common shares outstanding as of September 30, 2025, with a total share capital value of $3,337.0 million[84] - The basic earnings per share for the three months ended September 30, 2025, was $0.18, compared to $0.05 for the same period of 2024[89] Financial Ratios - The minimum interest coverage ratio for the twelve months ended September 30, 2025, was 16.6:1, significantly above the required 3.0:1[45] - The maximum leverage ratio for the same period was 0.7:1, well below the threshold of 4.5:1[45] Derivative Financial Instruments - The fair value of the gold prepayment financing liability was recognized at $97.8 million as of September 30, 2025, after a fair value adjustment of $26.4 million during the period[61] - The fair value of gold and copper swap contracts is $(7.6) million as of September 30, 2025, down from $1.7 million at the end of 2024[117] - The company reported a total loss on swap contracts of $8.4 million for the three months ended September 30, 2025, compared to a total loss of $4.6 million for the same period in 2024[76]

Core Viewpoint - New Gold Inc. reported strong financial and operational results for Q3 2025, achieving record production and free cash flow, primarily driven by the performance of the Rainy River mine and the New Afton mine [1][2][3]. Financial Performance - Q3 2025 revenue reached $462.5 million, a significant increase from $252.0 million in Q3 2024 [9]. - The company generated cash flow from operations of $301 million and record free cash flow of $205 million, marking a 225% quarter-over-quarter improvement [2][10]. - Net earnings for Q3 2025 were $142.3 million, compared to $37.9 million in Q3 2024, with adjusted net earnings of $199.5 million [11][12]. Production Highlights - Total gold production for Q3 2025 was 115,213 ounces, with Rainy River contributing 100,301 ounces, reflecting a 63% increase from Q2 2025 [6][10]. - New Afton produced 14,912 ounces of gold and 12.0 million pounds of copper, with the B3 cave performing above expectations [6][14]. - The company is on track to meet its annual production guidance of 325,000 to 365,000 ounces of gold [4][10]. Cost Metrics - All-in sustaining costs (AISC) for Q3 2025 were $966 per gold ounce sold, down from $1,195 in Q3 2024 [12][19]. - Cash costs per gold ounce sold on a by-product basis were $639, compared to $741 in Q3 2024 [12][19]. - Operating expenses per gold ounce sold were $874, a decrease from $1,021 in the previous year [12][19]. Debt Management - The company repaid $260 million in debt obligations during the quarter, including the full $150 million drawn on the credit facility [3][10]. - The company exited Q2 2025 with cash and cash equivalents of $123 million, strengthening its financial position [10][19]. Future Outlook - New Gold is well-positioned to achieve its full-year guidance, with capital spending and cash costs trending in line with expectations [4][5]. - The C-Zone at New Afton is on track for a production ramp-up in 2026, while Rainy River's operations are expected to generate significant free cash flow in the coming years [5][10]. Exploration and Growth - The exploration budget for New Afton has been increased to $22 million, with ongoing drilling confirming the potential for further mineralization at the K-Zone [16][19]. - The company anticipates a maiden K-Zone mineral resource estimate to be announced in early 2026 [16].

Core Viewpoint - New Gold (NGD) is expected to report its third-quarter 2025 results on October 28, with earnings per share estimated at 17 cents, reflecting a 112.5% increase from the previous year's earnings of 8 cents [1][6]. Earnings Performance - New Gold has consistently exceeded the Zacks Consensus Estimate in the last four quarters, achieving an average earnings surprise of 56.7% [2][4]. - The earnings surprise history shows reported earnings of 11 cents, 2 cents, 7 cents, and 8 cents for the last four quarters, with respective estimates of 10 cents, 1 cent, 6 cents, and 4 cents [3]. Earnings Prediction Model - The current Earnings ESP for New Gold is 0.00%, and it holds a Zacks Rank of 3 (Hold), indicating uncertainty regarding an earnings beat this quarter [4][5]. Market Conditions - Gold prices averaged around $3,500 per ounce in Q3 2025, a 41% year-over-year increase, driven by U.S. trade uncertainties and strong central bank demand [7]. - Copper prices also saw a 15% year-over-year increase, contributing positively to New Gold's expected performance [7]. Production Outlook - New Gold projects consolidated gold production for 2025 to be between 325,000 and 365,000 ounces, a 16% increase year-over-year [8]. - In the first half of 2025, the company produced 130,781 ounces, which is 6% lower than the previous year's production of 139,496 ounces [9]. - Q3 production is expected to range between 97,110 and 117,109 ounces, indicating a growth of 24-49% compared to 78,369 ounces produced in Q3 2024 [10]. Mine-Specific Production - Rainy River's gold production is projected at 265,000 to 295,000 ounces for 2025, with an expected output of 84,744 to 99,744 ounces in Q3, reflecting a 37-61% increase from 61,892 ounces in Q3 2024 [11]. - New Afton is expected to produce 60,000 to 70,000 ounces in 2025, with Q3 production anticipated at 12,365 to 17,365 ounces [13]. Cost Expectations - All-in sustaining costs (AISC) are projected to be between $1,025 and $1,125 per ounce in 2025, a 17% decrease at the midpoint due to higher production and lower operating costs [14]. - Total cash costs per gold ounce sold are expected to be in the range of $600 to $700, with costs decreasing throughout 2025 [15]. Stock Performance - New Gold's stock has increased by 160.5% year-to-date, outperforming the industry average growth of 115% [16].