NGD / Newgold. Playing bounce in 2018's weakest

[drbubb]

NGD / Newgold. Playing bounce in 2018's weakest

NGD to JAN.2020 Option expiry ... update : 10d

According to Kitco...

> more: https://www.kitco.com/news/2018-12-28/Top-Mining-Gainers-and-Decliners-in-2018.html

About what about this one, with 200,000 oz+ production?:

Symbol/Mining stock---- : 12/20/17: 12/21/18: change

GCM.t / Gran Columbia-- :  C $1.87  :  C $2.73  : + 46.0%  x 48.2M shs: C$131.6M

TPRFF / Gran Col.in US$  :  $  1.46  :   $   2.03   : + 39.0%  x 48.2M shs: $ 97.8M

GDXJ / JuniorGoldMiners:   $32.72  :    $28.94  :  - 11.6%

CAD   / in uS Dollars---------: x $0.779 :  x $0.735 : - 5.65%

Even after the 2018 Gain, it may be one of the very cheapest Gold miners

Obviously, it is not over $500M MktCap. Maybe it will be someday

LOSER? the biggest Loser was NGD : -73.1%

NGD / Newgold ... update : 6-mo : 3-mo : last $0.7735

: 6-mo fewer lines : 3-mo : fr.Oct 2018 : last $0.7735 : Options : NGD-website : presentations :

New Gold (NGD) -73% - The Canadian miner struggled with operational challenges at its Rainy River Mine in Ontario. The company cut its forecast production while increasing cost estimates for 2018

LINKS:

.> website:

 > Newgold Bullboard : http://www.stockhouse.com/companies/bullboard?symbol=ngd

[drbubb]

CLOSER ... from xx : 6-mo : 3-mo : last $0.7735 : Options :

Share Structure

- as at July 25, 2018
Shares Issued and Outstanding (Basic)      578,748,338
Stock Options (exercisable for # shares)   9,953,450
Series A Warrants (expired June 28, 2017)

Market Cap, : 578.7 Million x $0.78 = $451 Million .

In addition, there is about $800 Million in Debt

Q3 Highlights

Gold production from total operations of 114,025 ounces and copper production of 21.7 million pounds
Operating expense from continuing operations of $644 per gold ounce and $1.57 per copper pound
All-in sustaining costs from total operations(1) of $966 per ounce, including total cash costs(2) of $424 per ounce
Revenues of $147 million from continuing operations
Operating cash flows of $51 million, or $0.09 per share
Operating cash flows before changes in non-cash operating working capital of $83 million, or $0.14 per share
Loss from continuing operations of $2 million, or $0.00 per share
Net loss of $166 million, or $0.29 per share, including an impairment loss, net of tax of $162 million, relating to the sale of the Mesquite Mine

 

[drbubb]

JOY!
I did actually buy some Newgold calls on Dec.31st

Bought Feb.$0.50 calls at 30 cents

Today, NGD has traded as high as 84 cents, and the calls have traded up to 38 cents

Close: $0.8253 Change: +0.0685 : +9.05%
Open: 0.76 / High: 0.8442 / Low: 0.76 / Vol.: 2,511,874

NGD / Newgold ... 10d : 3mo :

: 3mo :

===

Actually, I paid for them by selling Puts on SIL.

Sold SIL Jul $28 puts @ 4.0333 ... Breakeven: is $23.97

SIL / Silver shs etf : 10d : 3mo : Close: $25.17    Change: +0.15 : +0.60%
Open: 24.86 / High: 25.40 / Low: 24.77 / Volume: 85,118

Jul $28 puts: $3.50 - 4.00 : Mid-$3.75

So I am making money on both sides of the trade so far

 

[drbubb]

2018's Big Gainer (GCM) is still by far the Cheapest of these three

MUX vs. GCM (tprff), NGD & GDXJ ... 3-mos : fr. 10/1/18 : 9/5/2018 :

co.: ----- : GCM.t : ----- / ----- : - MUX- : ----- / ----- : -Mgeo- : ----- / ----- : - NGD - : ----- /
Yr.: 2017 > 2018 : + pct. / 2017 > 2018 : + pct. / 2017 > 2018 : +pct. / 2017 > 2018 : +pct. /
Q1: 39.0 > 52.7 :+00.0% / 20.0 > 35.1 :+75.5% / 29.7 > 44.3 :+49.1% / 61.0 > 96.9 :+58.9% /
Q2: 46.1 > 52.9 :+00.0% / 22.2 > 37.0 :+66.6% / 32.6 > 47.3 :+45.1% / 79.0 > 109. :+37.4% /
Q3: 37.1 > 57.2 :+00.0% / 19.1 > 33.8 :+77.0% / 29.0 > 43.7 :+50.7% / 29.5 > 77.5 :+163.% /
Qe: 52.0 > 54.E :+00.0% / 48.6 > 22.E :- 53.3% / 61.0 > 36.E :- 41.5% / 110. > 100E :+00.0% /
Yr.: 174. > 217. :+24.7% / 110. > 128. :+16.4% / 152.> 171.:+12.5% / 318* > 383. :+20.4% /
*cont.operations, all ops. was 146k-q4 : 422k-2018
===
12: 174. > 217. :+00.0% / 110. > 128. :+00.0% / 152. > 171. :+00.0% / 422. > 383. :+00.0% /
Pr : 1.54 > 2.03 :+00.0% / 2.28 > 1.84 :+00.0% / 2.28 > 1.84 :+00.0% / 3.29 > 0.76 :+00.0% /
shs 20.5 > 48.2 :+00.0% / 337. > 337. :+00.0% / 337. > 337. :+00.0% / 565. > 579. :+00.0% /
MC 31.5 > 100. +00.0% /  768. > 620. :+00.0% / 768. > 620. +00.0% /1.86b > 440. +00.0% /
Db. 98.7 > 050. +00.0% /  00.5 > 000. :+00.0% / 00.5 > 000. +00.0% /  800. > 810. +00.0% /
EV: 130. > 150. +00.0% /  769. > 620. :+00.0% / 769. > 620. +00.0% /2.66b >1.25b +00.0% /
/oz .75K > .69K -08.0%/7.00k>4.84k -30.9%/5.06k>3.63k -28.3%/ 6.30k> 3.26k -48.2% /
NW 224. > 260. +00.0% /  521. > 495. :+00.0% / 521. > 495. +00.0% / 2.14b >1.68b +00.0% /
BV: 10.9 > 5.40 :+00.0% / 1.55 > 1.47 :+00.0% / 1.55 > 1.47 :+00.0% / 3.78 > 2.90 :+00.0% /
p/b 0.14 > 0.38 :+00.0% / 1.47 > 1.25 :+00.0% / 1.47 > 1.25 :+00.0% / 0.87 > 0.26 :+00.0% /
====

 SUMMARY

1. GCM / Gran Columbian looks very cheap by comparison with the others
+ Tiny MktCap of $100M; that is only 38% of GCM's $5.40 Book Value
+ Adding debt, the Enterprize Value (EV) is only $150 Million
+ That's a tiny $690 per ounce of production: 217k oz, & growing
+ GCM is showing good Free Cash flow & profits - looks very cheap, performing well.

2. MUX / McEwen Mining has a well-regarded CEO with a big personal stake
+ Annual production was expected to grow by 16% 128k oz in 2018
+ Adding gold equiv. from Copper, etc, 171k GEqv oz expected, up 12.5% over 2017
+ Valuation looks stretched at $3,630 per oz. of GEO. That's down -28% from prior year.
+ But the Market has had confidence in MUX's ability to grow production in future years
+ 2019 should be another UP year in production, because...  (Black Fox Mine is starting up?)
+ Has high historical beta to Gold prices, so could climb 2-4X faster than Gold

3. NGD / Newgold was a big loser in 2018, down -73%, highest drop among mid-producers
+ NGD's production costs @xxx were higher than expected. That caused price drop
+ NGD carries over $800M in debt, and so was forced the sell off two mines in 2018
+ Valuation dropped sharply, so by year end... EV / oz. was down almost half to $3,260/oz.
+ Should be cheap enough to bring a bounce, if production keeps growing and the new
management can bring some operational improvements. Gold price might help too.

 

[drbubb]

THU, 1/3:
0.8991 +0.0738 +8.94%
Open: 0.8499 / High: 0.90 / Low: 0.8301    Vol.: 4,049,029

 

[drbubb]

NEW GOLD's Bullboard - > on Stockhouse

New Gold is a Canadian-focused intermediate gold mining company with two core producing assets in top-rated jurisdictions: the Rainy River and New Afton Mines in Canada. The Company also operates the Cerro San Pedro Mine in Mexico (which transitioned to residual leaching in 2016). In addition, New Gold owns 100% of the Blackwater project located in Canada.

I got spanked on this one...
posted December 13, 2018 12:25 am  by  canne
NGD cost me a pile of money but I took my licks and sold out in Sept.
I gave up on the mining business as all I see is trouble up ahead
and NGD is in a weak position. I doubt they will go bankrupt but...
- read more
/ 2.
CEO bought 250,000 shares on the open market last month.  Mega Bullish!
/ 3.
(Dec.16): Technically, still a very weak stock.  
The 30 week ma is falling hard and the RSI just cannot move out of negative
territory.  It is possible that price may rise over the short term
but I...read more
/ 4.
NGD reserves / posted Dec.16, 2018 05:50 pm  by  TELEMARKER
http://www.newgold.com/investors/reserves-and-resources/default.aspx
/ 5.
Congrats once again to Newgold
posted December 31, 2018 - by  papineau
This is very difficult to do, but NGD has made the list of TSX worst performers
TWO years in a row. Way to go guys.  Are you going for a three peat?
+ M. Papinewgold----you should buy some today at fire sale prices-
--going to $2.00 in 2019.  Today of course there's selling for 2018 tax loss.
Get some while it's cheap
+ Psych01 tax loss selling should have been completed by last Thurs Dec 27.  
Revenue Canada requires a 2 day window for tax losses to be completed today
(Dec 31) and got investors to recognize the...read more  
/ 6.
debt/cashflow (4X?)
currently about 4x and cash on hand running low   
can they turn around the material handling/processing (peat,basalt)  
problems at rainy river  before they need a cash infusion ?
 ...read more
/ 7.
Renaud bought a whole pack of shares in Nov 2018
posted January 01, 2019 11:36 am  by  SmithersDithers
Our CEO is leading from the front.  January production numbers and 2019 forecast
could be a gamechangers here.   I think he has stopped the bleeding.   
If we get a surge in the POG then...read more
/ 8.
NGD was the worst performing mid size gold stock last year ,
Oliphant almost managed to bankrupt the company .This year might indeed
be different as POG is rising and there is a new management team...read more
/ 9.
Barrick is looking for mines...in CANADA. Just on BNN Commodities.
Maybe they will buy New Gold. Dom
>  https://www.bnnbloomberg.ca/we-definitely-need-more-assets-in-canada-barrick-s-new-ceo-says-1.1189659
==

[drbubb]

Good News !

NEW GOLD REPORTS STRONG FOURTH QUARTER

New Gold Inc. has released strong fourth quarter operating results from the Rainy River and New Afton mines, with Rainy River achieving annual revised gold production guidance and New Afton exceeding annual gold production guidance as well as achieving the high end of annual copper production guidance. All amounts are in U.S. dollars unless otherwise indicated.

Fourth quarter and recent operational highlights:

• Total gold production for the quarter was 110,559 ounces and 455,448 ounces for the year, including 97,428 ounces and 315,483 ounces, respectively, from continuing operations (1).
• The Rainy River mine reported best-ever quarterly gold production of 77,202 ounces, a 39-per-cent increase over the prior quarter. The stronger operational performance achieved in September continued into the fourth quarter with the last four months of the year contributing 45 per cent of the 227,284 ounces produced for the year, achieving revised annual guidance.
• The New Afton mine delivered another solid quarter with gold production of 18,778 ounces, contributing to annual production of 77,329 ounces, which exceeded the high end of annual guidance. New Afton produced 20.8 million pounds of copper for the quarter and 85.1 million pounds for the year, achieving the high end of annual guidance.
• During the quarter, mine closure activities continued at the Cerro San Pedro mine and 1,448 gold ounces were recovered from residual leaching of the heap leach pads.
• Consistent with the renewed vision of repositioning the Rainy River mine for long-term success, the company has adopted a disciplined approach to capital allocation as well as mine life optimization. Accordingly, management has deferred the 2019 underground mine development plan to 2020. During 2019, the company will launch a comprehensive review that includes alternative underground mining scenarios with the overall objective of reducing capital and improving the return on investment for the underground portion of the life of mine. Further details will be provided in the 2019 guidance press release, scheduled for release in the second half of January.
• An internally financed development strategy for the New Afton C zone has been launched, which will extend mine life to 2030 with robust economics. Further details will be provided in the 2019 guidance press release, scheduled for release in the second half of January.

"We are pleased to report a strong fourth quarter at both Rainy River and New Afton. It is encouraging to see the improvement in overall performance achieved at Rainy River in the final four months of the year. This marks a pivotal turning point for Rainy River as we reposition the asset for long-term success. The stronger production delivered during these months allowed the operation to comfortably meet revised annual production guidance.

> MORE: https://www.stockwatch.com/News/Item.aspx?bid=Z-C%3aNGD-2703954&symbol=NGD&region=C

[drbubb]

Another Great day for NGD ... chart

Last: 1.08  +0.12, +12.50%
Open: 1.01 / High: 1.11 / Low: 0.997 / Volume: 7,677,773
That's HUGE Volume, so the move may continue,
Though I see some resistance at $1.11 - 1.12

Bullboard Comments:

New Gold Reports Strong Fourth Quarter

posted January 08, 2019 08:30 am  by  uto

https://www.gurufocus.com/news/796399/new-gold-reports-strong-fourth-quarter PR Newswire TORONTO, Jan. 8, 2019 Rainy River Achieves Revised Annual Guidance New Afton Exceeds Annual...read more

RE:New Gold Reports Strong Fourth Quarter

posted January 08, 2019 09:51 am  by  AuNuggets

 A great job by the new Management team for a turnaround to this point. Glad I loaded up several months ago when the stock was sold off. Production is rising and the company is now more disciplined...read more

NGD: unlimited upside!

posted January 08, 2019 10:16 am  by  Royal10

I bought my first positions in Sept. 2018, when M. Renaud ADAMS, former president and CEO of Richmont Mines, was named as the new leader at NGD. Six months later, we can see the good work done by M...read more

RE:RE:New Gold Reports Strong Fourth Quarter

posted January 08, 2019 01:17 pm  by  domcolumba

So so glad that I loaded up on Jan 2 and 3. Another turnaround story like Detour Gold. Dom  rate and reply

 

[drbubb]

Newgold pulls back on lighter volume

NGD / Newgold ... update : $1.09 - 0.02

==

[drbubb]

Pullback in NGD continues

NGD / Newgold ... update : $1.02 - 0.03

[drbubb]

NGD over two years : 3yr : 1yr / Last $1.12 +0.07, +6.67%

[drbubb]

I Sold NGD Jan.2020 $1.50 calls (as suggested on the TCF thread)

Creating the Following attractive Payoff potential ... update NGD chart to Jan.2020 expiry : J20-$1.50C :

I exited Half of my position at 65 cents vs. 30 cent cost - that's +116% in 3 weeks

By retaining half of my Feb.$0.50 calls, and selling $1.50C against them. I have attractive potential returns.

My ultimate breakeven is now just 55 Cents = 0.30 + 0.50 - 0.25, Max. profit = +172% to Jan.2020

[drbubb]

Update - as NGD rises to $1.22 ... option prices :

[drbubb]

Wow!  Seems like I cannot dodge every bullet ! 

NGD down - 26% on Earnings, on truly huge volume

NGD / Newgold ... update / Last: $0.92 - $0.32, - 25.8%, vol. 21.54 Million

My "hedge" was not sufficient - since a drop of $0.00, cannot be covered by premium of $0.25 collected on $1.50 calls

Compare-- : Wed.cl : Thu.cl.  : chg.

NGD stock :

Feb.$0.50C :

Jan.$1.50C :

 

[drbubb]

NEWS

x

x

[drbubb]

RALLY back to resistance - at $0.935- 0.94. What next?

After the big drop on the poor earnings result, NGD has bounced off the recent Low near $0.8--

NGD / Newgold ... 12-mos : 3-mos : fr. 12/01/18 / 10d - Last: $0.928

There is important resistance at about $0.94 from three MA's (8, 76, 144).

If NGD can punch through this level, the rally may have a lot more life in it.

NGD to JAN.2020 ... update : 10d - Last: $0.928

Some option prices:

Strike: Mar.15,1019: May 17,2019: Aug.16,2019: Jan.17,2020: Jan.15,2021:
$2.00: $ 0.00- 0.05 :  $0.?? - 0.??  :  $ 0.05- 0.10 :  $0.05- 0.15 : $ 0.05- 0.40 :
$1.50: $ 0.05- 0.05 :  $0.05- 0.10 :  $ 0.05- 0.10 :  $0.10- 0.15 : $ 0.10- 0.45 :
$1.00: $ 0.05- 0.05 :  $0.?? - 0.??  :  $ 0.15- 0.20 :  $0.15- 0.30 : $ 0.25- 0.55 :
$0.50: $ 0.40- 0.50 :  $0.40- 0.50 :  $ 0.40- 0.55 :  $0.40- 0.55 : $ 0.40- 0.60 :

[drbubb]

Newgold is finally showing some strength

NGD / Newgold ... update : 10d / Last: $0.9062 +$0.0242, 2.74%

RECENT Analyst Comment

Globe says Baretto considers New Gold "fairly valued" ($C 1.20 +0.02)

2019-03-26 08:59 ET - In the News

The Globe and Mail reports in its Tuesday edition that Canaccord analyst Dalton Baretto resumed coverage on New Gold with a "hold" rating and $1.15 share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $1.32. Mr. Baretto says in a note: "We believe NGD is fairly valued at current levels. However, the stock may be a good option for those investors looking for leverage to the gold price at a moderate valuation with low jurisdictional risk (B.C., Ont.). NGD is currently shrouded in uncertainty -- a highly financially leveraged company with only one proven operating asset, essentially no free cash flow in the medium term, and successive major tranches of debt coming due beginning in August 2021. The company has now been through two years of turmoil beginning in early 2017, with a substantial capex over-run at Rainy River (we estimate 44 per cent), subsequent ramp-up challenges that have not yet been resolved, significant turnover in the C-Suite (new chairman, three different CEOs and two different CFOs, as well as multiple board member changes) and multiple asset sales, culminating in a $458-million impairment charge at Rainy River in 4Q18."

\
Read more at https://stockhouse.com/companies/bullboard?symbol=ngd&postid=29543891#7HkzmOusFoQIbFjk.99

[drbubb]

New Gold Reports First Quarter Production On Track to Meet Annual Guidance

April 8, 2019 02:00 UTC

TORONTO--(BUSINESS WIRE)-- New Gold Inc. (“New Gold” or the “Company”) (TSX and NYSE American: NGD) reports in-line first quarter operating results from the Rainy River and New Afton Mines. (All amounts are in US dollars unless otherwise indicated.)

First Quarter and Recent Operational Highlights

• Total production for the quarter was 123,263 gold equivalent ounces (79,398 ounces of gold, 136,513 ounces of silver and 19.5 million pounds of copper). Production is on track to meet annual guidance of 465,000 to 520,000 gold equivalent ounces.
• The Rainy River Mine reported in-line gold equivalent production of 62,278 ounces (61,557 ounces of gold and 60,383 ounces of silver) for the quarter.
• The New Afton Mine delivered another strong quarter with gold equivalent production of 60,986 ounces (17,841 ounces of gold and 19.5 million pounds of copper).
• The Company ended the quarter with available liquidity of approximately $418 million, which includes $130 million in cash and cash equivalents and $288 million available under the credit facility, which secures the implementation of the short-term operational plan.

“We are encouraged by the progress made at Rainy River during the first quarter as we re-position the operation for efficient and sustainable mining. Concurrently, we continue to prioritize the completion of the remaining construction and the optimization of the life of mine plan in order to position the operation to deliver free cash flow starting in late 2020,” stated Renaud Adams, CEO. “The New Afton Mine reported another strong quarter of operating results as the team further advanced the development of the C-zone. We are particularly encouraged with the organic growth potential of the D-zone with the first hole of the exploration drilling program intersecting 140 metres of mineralization located 360 metres below the C-zone.”

First Quarter Production Highlights

Gold Eq. Produced1(oz)				Q1 2019				2019 Guidance
Rainy River2				62,278				250,000 – 275,000
New Afton3				60,986				215,000 – 245,000
Gold Produced (oz)				Q1 2019
Rainy River				61,557				245,000 – 270,000
New Afton				17,841				55,000 - 65,000
Copper Produced (Mlbs)3				Q1 2019
Total Copper Produced (Mlbs)				19.5				75 - 85

[drbubb]

LOTS OF CASH AVAILABLE !

First Quarter and Recent Operational Highlights

Total production for the quarter was 123,263 gold equivalent ounces (79,398 ounces of gold, 136,513ounces of silver and 19.5 million pounds of copper). Production is on track to meet annual guidance of 465,000 to 520,000 goldequivalent ounces. The Rainy River Mine reported in-line gold equivalent production of 62,278 ounces (61,557 ounces ofgold and 60,383 ounces of silver) for the quarter. The New Afton Mine delivered another strong quarter with gold equivalent production of 60,986 ounces(17,841 ounces of gold and 19.5 million pounds of copper). The Company ended the quarter with available liquidity of approximately $418 million, which includes $130 million in cash and cash equivalents and $288 million available under the credit facility, which secures the implementation of the short-term operational plan.

Read more at https://stockhouse.com/companies/bullboard?symbol=ngd&postid=29598510#2LRod01Ybb6AWowv.99

[drbubb]

Chart... as time moves towards Option expiries...

NGD ... to Jan.2020 - Last: xx

[drbubb]

Another good day for NGD: $0.95 +0.04, +4.61%

10d :

Zacks Investment Research, Inc. upgrades NEW GOLD INC from HOLD to BUY.

INVESTARS ANALYST ACTIONS - PRIVATE

3:10 PM ET 04/09/19

 

New Gold Posts YoY Increase in Q1 Production; on Track to Meet Annual Guidance

MT NEWSWIRES

5:52 PM ET 04/08/19

 

Q1 Gold: +27.2%

04/08/2019 (MT Newswires) -- New Gold (NGD) reported Sunday total production of 123,263 gold equivalent ounces, consisting 79,398 ounces of gold, 136,513 ounces of silver and 19.5 million pounds of copper. For the same period last year, production was 96,882 ounces of gold and 22.2 million pounds of copper.

[drbubb]

I still have some of these. And have a small profit on what I have left

NGD ... update ; / Last: $0.94 +$0.09

It seems to have enough momentum now to punch through resistance near $1.00

But I may let some go "just in case" it does not

Feb.2, I said: "I Sold NGD Jan.2020 $1.50 calls"

I have already bought them back at a nice profit - a messy situation is now easy to trade

New Gold Hosts Rainy River Site Tours

New Gold Inc. (NGD) (“New Gold” or the “Company”) announces that it is hosting tours of the Rainy River Mine for analysts and institutional investors on June 26 and 27, 2019. The presentation to be used during management’s briefing sessions will be posted on the New Gold (NGD) website at www.newgold.com in the morning today.

[drbubb]

Sold out of most of my NGD - Taking profits just over 97 cents (to invest in VIT.v)

If it breaks out now, I have (some of) the profits invested in Jan.2020 50 cent calls

: 6-mo fewer lines : 3-mo : fr.Oct 2018 : last $0.975 : Options : NGD-website : presentations :

[drbubb]

NGD / NewGold ... update / last: $1.21 + 0.03

[drbubb]

BOT again recently NGD stocks & calls below my exit price.

I sold 80% at  a profit in the small rally. keeping some 0.50 calls... but may reload soon.

The intensity of selling yesterday surprised me.  The earnings report was disappointing, little improvement with higher gold prices

Recent Bulletins

Date ET	Symbol	Type	Headline
2019-11-06 06:30	U:NGD	News Release	New Gold Reports Third Quarter Results and Reaffirms Consolidated Production and Cost Guidance
2019-10-10 06:30	U:NGD	News Release	New Gold Reports Strong Third Quarter Production and Reaffirms Annual Production Guidance

NGD reports in-line third quarter operating results from the Rainy River and New Afton Mines, which positions the Company to achieve annual production guidance.

Third Quarter and Recent Highlights

• Total production (excluding production from the Cerro San Pedro Mine) for the third quarter was 128,899 gold equivalent ounces (91,087 ounces of gold, 168,159 ounces of silver and 20.1 million pounds of copper). For the nine-month period, production was 384,719 gold equivalent ounces (255,701 ounces of gold, 455,977 ounces of silver and 61.2 million pounds of copper). Production is on track to meet annual guidance of 465,000 to 520,000 gold equivalent ounces.
• The Rainy River Mine reported gold equivalent production of 76,092 ounces (75,080 ounces of gold and 87,705 ounces of silver) for the quarter. For the nine-month period, production was 205,135 gold equivalent ounces (202,650 ounces of gold and 214,245 ounces of silver). Production is on track to meet annual guidance of between 250,000 to 275,000 gold equivalent ounces.
• The New Afton Mine delivered gold equivalent production of 52,807 ounces (16,007 ounces of gold and 20.1 million pounds of copper). For the nine-month period, production was 179,584 gold equivalent ounces (53,051 ounces of gold and 61.2 million pounds of copper). Production is on track to meet guidance of between 215,000 to 245,000 gold equivalent ounces.
• On August 30, the Company completed a bought deal financing for gross proceeds of C$150 million, the net proceeds of which were used primarily for debt repayment, with approximately $100 million of the Company’s 2022 senior unsecured notes purchased. Following the purchase, the Company had available liquidity of approximately $420 million, including $135 million in cash and cash equivalents.

/ 2 / the following was released yesterday

Third Quarter and Nine-Month Highlights

• Total production for the quarter (excluding production from the Cerro San Pedro Mine) of 128,899 gold equivalent (gold eq.) ounces (91,087 ounces of gold, 168,159 ounces of silver and 20.1 million pounds of copper). For the nine-month period, production was 384,719 gold eq. ounces (255,701 ounces of gold, 455,977 ounces of silver and 61.2 million pounds of copper). Production is on track to meet annual guidance of 465,000 to 520,000 gold eq. ounces.
• Revenues for the quarter were $168 million and $491 million for the nine-month period.
• Operating expense of $761 per gold eq. ounce¹ for the quarter and $695 per gold eq. ounce for the nine-month period.
• Total cash costs of $819 per gold eq. ounce^1,2 for the quarter and $751 per gold eq. ounce for the nine-month period. Total cash costs are on track to meet annual guidance of $740 to $820 per gold eq. ounce.
• All-in sustaining costs (AISC)^1,2 of $1,318 per gold eq. ounce for the quarter and $1,161 for the nine-month period. AISC for the year are expected to achieve the low-end of the annual guidance of $1,330 to $1,430 per gold eq. ounce as sustaining capital at Rainy River is expected to be below annual guidance.
• Net loss from continuing operations for the quarter was $25 million ($0.04 per share) and $74 million ($0.13 per share) for the nine-month period.
• Adjusted net loss² from continuing operations for the quarter, which excludes other gains and losses, was $10 million ($0.02 per share) and $19 million ($0.03 per share) for the nine-month period.
• Operating cash flow generated from continuing operations for the quarter was $91 million ($0.15 per share) and $216 million ($0.37 per share) for the nine-month period. Operating cash flow generated from continuing operations for the quarter, before non-cash changes in working capital², was $67 million ($0.11 per share) and $199 million ($0.34 per share) for the nine-month period.