New Gold Announces Completion of Sale of Mesquite Mine
October 30 2018 - 05:46PM
PR Newswire (US)
(All figures are in US dollars unless otherwise
indicated)
TORONTO, Oct. 30, 2018 /PRNewswire/ - New Gold Inc. ("New
Gold" or the "Company") (TSX:NGD) (NYSE American:NGD) today
announces that it has completed the previously announced sale of
the Mesquite Mine located in California to Equinox Gold Corp. for
gross proceeds of $158 million,
subject to certain post-closing adjustments. The transaction
strengthens the Company's liquidity position and enhances its
financial flexibility.
About New Gold Inc.
New Gold is a Canadian-focused intermediate gold mining company.
The Company has a portfolio of three producing assets in top-rated
jurisdictions. The New Afton and Rainy River Mines in Canada, 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.
Copyright 2018 PR Newswire
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