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'Can you do more?' - New Gold's Patrick Godin on investors pushing miners to grow production

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By Michael McCrae and Paul Harris
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'Can you do more?' - New Gold's Patrick Godin on investors pushing miners to grow production teaser image

(Kitco News) - Gold and copper production are increasing at New Gold, noted CEO Patrick Godin.

Godin spoke with Kitco Mining last month during the Gold Forum Americas/XPL-DEV 2024 in Colorado.

New Gold Inc. (TSX: NGD) is a Canadian-focused intermediate mining company operating the Rainy River gold mine and the New Afton copper-gold mine. The company also holds additional Canadian-focused investments.

New Gold is expanding its production. Consolidated gold output is projected to increase by approximately 35% from 2023, reaching 410,000 to 460,000 ounces in 2026 at both Rainy River and New Afton. Copper production is expected to grow by about 60% over the same period, reaching 71 to 81 million pounds by 2026.

Godin mentioned that while investors are mostly satisfied with the performance of the gold miners, they are eager for further growth.

"Shareholders are...asking us: 'Okay, what's next?'," said Godin. "They appreciate that we’re adding value through exploration and organic growth, but the next question is: 'Can you do more?'"

Coverage of the Gold Forum Americas / XPL-DEV 2024 is sponsored by Metalla Royalty.

 

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Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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Paul Harris

Paul has more than 20 years of experience in the mining sector in investor relations, communications, research, and news reporting roles, and over 16 years of experience in the Colombia gold sector. Paul founded the successful CGS Copper and Gold Symposium in Colombia. He has written for the industry-leading publication ‘Mining Journal’ since 2015 and has been a Kitco Mining anchor since 2022. Previously, Paul spent five years in Chile reporting on the copper sector for CRU and Metal Bulletin. Paul received a BA in Business Administration from the University of the West of England, UK; and a MA in International Relations from the University of Chile, Santiago Chile. He is fluent in English and Spanish.

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Gold Forum Americas/XPL-DEV 2024goldCopperNew Gold Inc.Podcasts

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Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.