New Gold Q3 2025 Results: Robust Gold and Copper Output Boosts Record Cash Flow
Mining News | 2025-10-30 11:38:12
The quarter witnessed an expected quarter-over-quarter decline in head grades.
By Paul Ploumis
SEATTLE (Scrap Monster): New Gold Inc., headquartered in Toronto, has announced its financial and operational results for the third quarter and first nine months ended September 30, 2025, achieving several record-breaking milestones in both production and cash generation.
During the quarter, the company produced 115,213 ounces of gold and 12 million pounds of copper, driven mainly by strong output from the Rainy River Mine, which delivered 100,301 ounces of gold at an all-in sustaining cost (AISC) of $1,043 per ounce. This marks a 63% jump in production and a 39% reduction in AISC, reflecting improved efficiencies and higher ore grades.
At the New Afton Mine, production reached 14,912 ounces of gold and 12 million pounds of copper, with an impressive AISC of negative $595 per ounce, despite a moderate decline in head grades compared to the previous quarter.
Financially, New Gold reported operating cash flow of $301 million and a record free cash flow of $205 million — the highest in company history. The Rainy River operation contributed a record $183 million in cash flow, underlining its strong performance. The company also invested $56 million in growth initiatives and repaid $260 million in debt during the quarter, further strengthening its balance sheet.
Looking ahead, New Gold anticipates its 2025 gold production to align with the previously guided range of 325,000 to 365,000 ounces, while copper output is expected to land around the midpoint of the 50–60 million pound forecast.
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What was the key driver behind New Gold Inc.’s record cash flow in Q3 2025?
Frequently Asked Questions
- How did the Rainy River mine perform during the quarter?
The Rainy River mine delivered 100,301 ounces of gold with an AISC of $1,043 per ounce, representing a 63% surge in production and a 39% reduction in costs compared to the previous period.
- What were the results from the New Afton operation?
The New Afton mine produced 14,912 ounces of gold and 12 million pounds of copper, with an AISC of ($595) per gold ounce sold, despite a quarter-over-quarter decline in head grades.
- What other financial actions did the company take during the quarter?
New Gold invested $56 million in advancing growth projects and repaid $260 million in debt, strengthening its balance sheet.
