New Gold: Grade Shortfall At Rainy River Weighs On 2024 Outlook
- New Gold had a decent Q3-24, but lower grades and a tragic fatality at Rainy River have resulted in a cut to its FY2024 guidance.
- On a positive note, the company hit its free cash flow inflection point ahead of schedule and continues to execute successfully with two key projects delivered ahead of plan.
- In this update, we'll dig into the company's Q3-24 results, recent developments and whether the stock is sitting in a low-risk buy zone currently.
Thomas Demarczyk
All figures are in United States Dollars unless otherwise noted. G/T = grams per tonne (of gold or silver). GEOs = gold-equivalent ounces. SEOs = silver-equivalent ounces. AISC refers to all-in sustaining costs. LOMP = life of mine plan. TPD = tonnes per day.
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