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Category: Mid-tier Producer
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New Gold Inc.
www: www.newgold.com     email: info@newgold.com

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Notes
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Symbol Data

Symbol Currency
NYSEAMERICAN:NGD USD
TSE:NGD CAD

Description

New Gold Inc. are a gold focused mid-tier producer with four producing mines in Australia, Canada, Mexico and USA, two mines in development in Canada and Chile and exploration properties. Currently they produce roughly 300koz. of gold per year. They have approximately 18Moz. of gold in the reserves and resources category of which 17Moz. are in the measured and indicated category. They have a market capitalisation of ~$759.81M which is a rise of roughly 43% over the last six months. As of 01/05/2019 they have ~$1,200M debt and ~$250M cash. They have 578M shares outstanding and trade on the Toronto Stock Exchange.

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General Details

Financial 01/05/2019
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Mkt. Cap (FD): $529.98M $759.81M 01/05/2019 $229.83M
Total Assets: $3,950.00M $3,950.00M 01/05/2019 $0.00M
Total Liabilities: $1,835.00M $1,835.00M 01/05/2019 $0.00M
Current Assets: $434.00M $434.00M 01/05/2019 $0.00M
Current Liabilities: $153.00M $153.00M 01/05/2019 $0.00M
Total Debt: $1,200.00M $1,200.00M 01/05/2019 $0.00M
Cash: $250.00M $250.00M 01/05/2019 $0.00M
Enterprise Value: $1,479.98M $1,709.81M 03/07/2024 $229.83M
Cash Flow: $-24.32M $3.11M never $27.43M
Cash Flow Multiple: 0.00 244.47 never 244.47
Net Debt to
Cash Flow Ratio:
n/a 305.66 never 305.66
Finance within 1 year: 01/05/2019 n/a
Tax Rate: (guess)  30.00% (default)  30.00% 01/05/2019 0.00%
Misc 01/05/2019
Last
Analysis
Data

Current Data

Change
Item Value Value Updated Value
Shares Outstanding: 578,000,000 578,000,000 01/05/2019 0
Shares (FD): 589,000,000 589,000,000 01/05/2019 0
Insider Ownership: n/a n/a never n/a
Company Type: Mostly Gold Mostly Gold never n/a
Production ETA: n/a n/a 01/05/2019 n/a
Production (Gold Eq Oz.): (guess) 
300,000
(guess) 
300,000
01/05/2019 0
Production (Silver Eq Oz.): (guess) 
24,585,833
(guess) 
27,632,813
01/05/2019 3,046,980
Initial CapEx (Outstanding): n/a n/a 01/05/2019 n/a
Funding Option: n/a n/a 01/05/2019 n/a
Documentation: none PRODUCER 01/05/2019 n/a
Value Adjustment: none none never 0%

Resource Data

GOLD 01/05/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: 13.00M 13.00M 01/05/2019 0.00M
Measured & Indicated: 17.00M 17.00M 01/05/2019 0.00M
Inferred: 1.00M 1.00M 01/05/2019 0.00M
Reserves & Resources: 18.00M 18.00M never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: 11.05M 11.05M 01/05/2019 0.00M
Measured & Indicated: 13.77M 13.77M 01/05/2019 0.00M
Inferred: 0.43M 0.43M 01/05/2019 0.00M
Reserves & Resources: 14.20M 14.20M never 0.00M
C
U
R
R
E
N
T
Annual Production: (guess) 
300,000oz.
(guess) 
300,000oz.
01/05/2019 0oz.
Cash Cost: $1,000 $1,000 01/05/2019 $0.00
Extra Operating Cost: $400 $400 01/05/2019 $0.00
Average Grade: 0.60 g/t 0.60 g/t 01/05/2019 n/a
Recovery Rate: (CG)  85.00% (CG)  85.00% 01/05/2019 0.00%
F
U
T
U
R
E
Proven & Probable: 17.00M 17.00M 01/05/2019 0.00M
Annual Production: 600,000oz. 600,000oz. 01/05/2019 0oz.
Cash Cost: $800 $800 01/05/2019 $0
Extra Operating Cost: $400 $400 01/05/2019 $0
SILVER 01/05/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
O
U
N
C
E
S
T
O
T
A
L
Proven & Probable: n/a n/a 01/05/2019 0.00M
Measured & Indicated: n/a n/a 01/05/2019 0.00M
Inferred: n/a n/a 01/05/2019 0.00M
Reserves & Resources: n/a n/a never 0.00M
P
L
A
U
S
I
B
L
E
Proven & Probable: n/a n/a 01/05/2019 0.00M
Measured & Indicated: n/a n/a 01/05/2019 0.00M
Inferred: n/a n/a 01/05/2019 0.00M
Reserves & Resources: n/a n/a never 0.00M
C
U
R
R
E
N
T
Annual Production: n/a n/a 0oz.
Cash Cost: n/a n/a 01/05/2019 $0.00
Extra Operating Cost: n/a n/a 01/05/2019 $0.00
Average Grade: n/a n/a 01/05/2019 n/a
Recovery Rate: n/a n/a 01/05/2019 0.00%
F
U
T
U
R
E
Proven & Probable: n/a n/a 01/05/2019 0.00M
Annual Production: n/a n/a 01/05/2019 n/a
Cash Cost: n/a n/a 01/05/2019 n/a
Extra Operating Cost: n/a n/a 01/05/2019 n/a

Property

Last Analysis Data  (01/05/2019)
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Cobar, Nsw, Australia Peak Mines 100% n/a n/a n/a
Production Kamloops, Canada New Afton 100% n/a n/a n/a
Production San Luis Potosi, Mexico Cerro San Pedro 100% n/a n/a n/a
Production Yuma, Az, USA Mesquite 100% n/a n/a n/a
Development Fort Frances, Canada Rainy River 100% 15,000 Both show
Construction should begin in 2014 or 2015, for production in 2016.
Development Vallenar, Chile El Morro 30% n/a n/a n/a
Exploration Vanderhoof, Canada 3TS 100% n/a n/a n/a
Exploration Red Lake, On, Canada Baird 24% n/a n/a n/a
Exploration Vanderhoof, Canada Blackwater 90% n/a n/a n/a
Exploration Richardson, On, Canada Block B 100% n/a n/a n/a
Exploration Richardson, On, Canada Block C 100% n/a n/a n/a
Exploration Ontario, Canada Burns 100% n/a n/a show
I estimate there is at least 1 million oz of high grade gold on Burns.

They have not done a 43-101 resource estimate.
Exploration Prince George, Canada Capoose 100% n/a n/a n/a
Exploration Vanderhoof, Bc, Canada Davidson 253% n/a n/a n/a
Exploration Pickle Lake, On, Canada Drum Lake 100% n/a n/a n/a
Exploration Pickle Lake, On, Canada Gold Creek 100% n/a n/a n/a
Exploration Prince Rupert, Bc, Canada Scotia 100% n/a n/a n/a
Exploration Ontario, Canada Ti-pa-haa-kaa-ning 0% n/a n/a n/a
Exploration Copiapo, Chile Rio Figueroa 0% n/a n/a n/a
Total Land Package Size (ha): 15,000  
Current Data
Stage Location Name Owned Size (Ha) Type Au Ag Cu Notes
Production Cobar, Nsw, Australia Peak Mines 100% n/a n/a n/a
Production Kamloops, Canada New Afton 100% n/a n/a n/a
Production San Luis Potosi, Mexico Cerro San Pedro 100% n/a n/a n/a
Production Yuma, Az, USA Mesquite 100% n/a n/a n/a
Development Fort Frances, Canada Rainy River 100% 15,000 Both show
Construction should begin in 2014 or 2015, for production in 2016.
Development Vallenar, Chile El Morro 30% n/a n/a n/a
Exploration Vanderhoof, Canada 3TS 100% n/a n/a n/a
Exploration Red Lake, On, Canada Baird 24% n/a n/a n/a
Exploration Vanderhoof, Canada Blackwater 90% n/a n/a n/a
Exploration Richardson, On, Canada Block B 100% n/a n/a n/a
Exploration Richardson, On, Canada Block C 100% n/a n/a n/a
Exploration Ontario, Canada Burns 100% n/a n/a show
I estimate there is at least 1 million oz of high grade gold on Burns.

They have not done a 43-101 resource estimate.
Exploration Prince George, Canada Capoose 100% n/a n/a n/a
Exploration Vanderhoof, Bc, Canada Davidson 253% n/a n/a n/a
Exploration Pickle Lake, On, Canada Drum Lake 100% n/a n/a n/a
Exploration Pickle Lake, On, Canada Gold Creek 100% n/a n/a n/a
Exploration Prince Rupert, Bc, Canada Scotia 100% n/a n/a n/a
Exploration Ontario, Canada Ti-pa-haa-kaa-ning 0% n/a n/a n/a
Exploration Copiapo, Chile Rio Figueroa 0% n/a n/a n/a
Total Land Package Size (ha): 15,000  

Profitability (by resource)

Proven &
Probable
01/05/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 13.00M 13.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 132.04M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 11.05M 11.05M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 112.23M
Maximum Profit (Gold): $-895.71M $114.48M n/a $1,010.19M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $-895.71M $114.48M n/a $1,010.19M
Max Profit / Current MCap: n/a 0.151 n/a 1.841
Max Profit Per Share (Gold): $-1.52 $0.19 n/a $1.72
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $-1.52 $0.19 n/a $1.72
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $47.96 $68.76 n/a $20.80
FD Mkt. Cap / Silver Eq.: $0.59 $0.75 n/a $0.16
FD Mkt. Cap / Per Metal
as % Spot Price:
3.73% 4.86% n/a 1.13%
Measured &
Indicated
01/05/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 17.00M 17.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 172.66M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 13.77M 13.77M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 139.86M
Maximum Profit (Gold): $-1,116.20M $142.66M n/a $1,258.85M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $-1,116.20M $142.66M n/a $1,258.85M
Max Profit / Current MCap: n/a 0.188 n/a 2.294
Max Profit Per Share (Gold): $-1.90 $0.24 n/a $2.14
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $-1.90 $0.24 n/a $2.14
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $38.49 $55.18 n/a $16.69
FD Mkt. Cap / Silver Eq.: $0.47 $0.60 n/a $0.13
FD Mkt. Cap / Per Metal
as % Spot Price:
3.00% 3.90% n/a 0.90%

Reserves &
Resources
01/05/2019
Last Analysis
Data

Current Data

Change
Item Value Value Updated Value
Percentage Gold: 100.00% 100.00% n/a 0.00%
Percentage Silver: n/a n/a n/a 0.00%
Total (Gold Eq. Oz.): 18.00M 18.00M n/a 0.00M
Total (Silver Eq. Oz.): n/a n/a n/a 182.82M
P

L

A

U

S

I

B

L

E
Gold Eq. Oz.: 14.20M 14.20M n/a 0.00M
Silver Eq. Oz.: n/a n/a n/a 144.17M
Maximum Profit (Gold): $-1,150.65M $147.06M n/a $1,297.71M
Maximum Profit (Silver): n/a n/a n/a $0.00M
Total Maximum Profit: $-1,150.65M $147.06M n/a $1,297.71M
Max Profit / Current MCap: n/a 0.194 n/a 2.365
Max Profit Per Share (Gold): $-1.95 $0.25 n/a $2.20
Max Profit Per Share (Silver): n/a n/a n/a $0.00
Total Max Profit Per Share: $-1.95 $0.25 n/a $2.20
Total Free Profit Per Share: $0.00 $0.00 n/a $0.00
FD Mkt. Cap / Gold Eq.: $37.34 $53.53 n/a $16.19
FD Mkt. Cap / Silver Eq.: $0.46 $0.58 n/a $0.13
FD Mkt. Cap / Per Metal
as % Spot Price:
2.91% 3.78% n/a 0.88%

Future Valuation (Cash Flow & Totals)

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