New Gold Inc., a leading entity in the mining sector, has revealed its operational outcomes for the fourth quarter and the entire fiscal year of 2026. This report highlights the company’s success, showcasing production figures and a notable free cash flow generation surpassing $530 million for the year. These results underscore New Gold’s commitment to its strategic objectives and operational excellence.
In the fourth quarter of 2026, New Gold produced a total of 107,778 ounces of gold and 11 million pounds of copper. These operational results not only met but exceeded expectations set at the year’s outset, marking a significant achievement in the company’s journey.
Strong performance and operational growth
The company’s President and CEO, Patrick Godin, expressed pride in the results, stating, “New Gold performed as anticipated in the fourth quarter, allowing us to achieve our strategic goals outlined at our Technical Session earlier in the year. Our commitment to health and safety led to a total recordable injury frequency rate (TRIFR) of 0.65, a 10% decrease from the previous year, which is the lowest recorded in the company’s history.”
Particularly noteworthy is the Rainy River operation, which achieved a record-breaking free cash flow generation, significantly contributing to the company’s annual success. New Gold reported over $532 million in free cash flow in a year focused heavily on growth initiatives.
Growth initiatives and future outlook
Looking ahead, New Gold has initiated several growth projects that are making substantial progress. The construction of the C-Zone cave at the New Afton mine is on track for completion in early 2026. Moreover, the Rainy River underground operations saw a remarkable 45% improvement in development rates during the last quarter, highlighting the effectiveness of the business improvement strategies implemented recently.
As New Gold enters 2026, its operations are well-positioned for another strong year. The fourth quarter production figures not only reflected robustness but also aligned with the company’s consolidated production guidance. Total production for the year reached 353,772 ounces of gold and 50.1 million pounds of copper, successfully meeting the target ranges of 325,000 to 365,000 ounces of gold and 50 to 60 million pounds of copper.
Key operational highlights and financial metrics
In the fourth quarter alone, New Afton produced 13,355 ounces of gold and 11 million pounds of copper. For the entire year, the New Afton mine yielded 63,536 ounces of gold, remaining within the guidance range of 60,000 to 70,000 ounces.
The Rainy River mine also reported impressive figures, producing 94,423 ounces of gold in the last quarter, achieving a total of 290,236 ounces for the year—successfully reaching the upper limit of its production guidance.
Financial performance and exploration investments
Financially, New Gold demonstrated robust cash generation capabilities, reporting free cash flow of $240 million in the fourth quarter, following a total annual free cash flow of $532 million. This financial success follows an investment of over $310 million in total capital, which included significant expenditures aimed at enhancing production at the New Afton and Rainy River operations.
In terms of exploration, New Gold allocated approximately $38 million for exploration expenses during the year, reflecting a 27% increase over the initial budget. This investment facilitated over 126,000 meters of drilling, as the company continued to pursue promising exploration targets throughout 2026.
In the fourth quarter of 2026, New Gold produced a total of 107,778 ounces of gold and 11 million pounds of copper. These operational results not only met but exceeded expectations set at the year’s outset, marking a significant achievement in the company’s journey.0