TORONTO, Sept.12, 2018 /CNW/ -
New Gold Inc. ("New Gold" or the "Company") (TSX:NGD) (NYSE
American:NGD) has appointed Renaud
Adams as the new President and Chief Executive Officer of
the Company, effective September 12,
2018. Mr. Adams replaces Raymond
Threlkeld, a director of New Gold who stepped in and led the
company since his appointment in May
2018.
Mr. Adams has 25 years of experience in the mining
industry. He was the President and Chief Executive Officer of
Richmont Mines Inc. from 2014 until the sale of the company to
Alamos Gold in November 2017. During Mr. Adams' time at
Richmont Mines, production at the company's principal mine more
than doubled, mineral reserves more than tripled, and costs were
reduced to make the Island Gold Mine in Ontario one of the lowest cost operating
underground mines in the Americas. From 2011 to 2014, Mr. Adams was
the Chief Operating Officer at Primero Mining Corporation, and
prior to that he was with IAMGOLD Corporation from 2007 to 2011 as
the General Manager of the Rosebel mine in Suriname and then the
Senior Vice President, Americas Operations. Prior to IAMGOLD,
Mr. Adams held various senior operations positions at mining
operations located in the Americas. Mr. Adams is also a
director of GT Gold Corp. and Ascendant Resources Inc. Mr.
Adams holds a Bachelor of Engineering degree in Mining and Mineral
Processing from Laval University in
Quebec, Canada.
In addition, Mr. Threlkeld has resigned his seat on the Board of
Directors, and Mr. Adams has been appointed to the Board, effective
September 12, 2018.
"We are very pleased that Renaud will be joining our team as
President and CEO," stated Ian
Pearce, Chair of the Board of New Gold. "His extensive
experience in the gold sector and operational background will be of
tremendous benefit, and his proven track record of delivering on
production and costs will be invaluable as we advance the Company's
corporate strategy."
"I am excited to be working with the team at New Gold," stated
Mr. Adams. "l look forward to the significant opportunities we have
as we continue to improve operational performance at Rainy River, increase cash flow at all
operations, and create value for our shareholders through a
disciplined approach to both productivity and value creation from
our portfolio of long-life assets."
"On behalf of New Gold and the Board of Directors, I would like
to thank Ray for stepping in over the last few months. His
dedication and significant contributions over the past twelve years
with New Gold and its predecessor companies have been instrumental
in ensuring the success of the Company. We appreciate Ray's
willingness to support Renaud during the transition, and wish Ray
great success in his future endeavours," added Mr. Pearce.
About New Gold Inc.
New Gold is an intermediate gold mining company. The Company has
a portfolio of four producing assets in top-rated jurisdictions.
The New Afton and Rainy River Mines in Canada, the Mesquite Mine in the United States and the Cerro San Pedro Mine
in Mexico (which transitioned to
residual leaching in 2016), provide the Company with its current
production base. In addition, New Gold owns 100% of the Blackwater
project located in Canada. New
Gold's objective is to be the leading intermediate gold producer,
focused on the environment and social responsibility. For further
information on the Company, please visit
www.newgold.com.
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SOURCE New Gold Inc.