Business
Coeur Mining Announces Acquisition of New Gold to Create a New, All North American Senior Precious Metals Producer
The addition of New Gold's two Canadian mines results in a combined company with seven North American operations generating $3 billion of expected EBITDA and $2
About this update from Coeur Mining, Inc.
[{"type":"text","content":" The addition of New Gold's two Canadian mines results in a combined company with seven North American operations generating $3 billion of expected EBITDA and $2 billion of expected free cash flow in 2026 from production of approximately 20 million ounces of silver, 900,000 ounces of gold and 100 million pounds of copper CHICAGO, Nov. 3, 2025 /CNW/ - Coeur Mining, Inc. (\"Coeur\") (NYSE: CDE) and New Gold Inc. (\"New Gold\") (TSX: NGD) (NYSE American: NGD) today announced that they have entered into a definitive agreement (the \"Arrangement Agreement\") whereby a wholly-owned subsidiary of Coeur will acquire all of the issued and outstanding shares of New Gold, pursuant to a court-approved plan of arrangement (the \"Transaction\"). Under the terms of the Arrangement Agreement, New Gold shareholders will receive 0.4959 shares of Coeur common stock for each New Gold common share (the \"Exchange Ratio\"). The Exchange Ratio implies consideration of $8.51 per New Gold common share, based on the closing price of Coeur shares of common stock on the New York Stock Exchange (\"NYSE\") on October 31, 2025. This represents a 16% premium to the October 31, 2025 closing price of New Gold on the NYSE American. In the aggregate, this implies a total equity value of approximately $7 billion based on New Gold's common shares outstanding and a pro forma combined equity market capitalization of approximately $20 billion. Upon completion of the Transaction, existing Coeur stockholders and New Gold shareholders will own approximately 62% and 38% of the outstanding common stock of the combined company, respectively. Transaction Highlights and Strategic Rationale Creates a Leading, All North American-Based Precious Metals Producer – The combined company creates a new, 100% North American senior mining company with an approximately $20 billion market capitalization; seven high-quality operations producing approximately 1.25 million gold equivalent ounces in 2026, including 20 million ounces of silver and 900,000 ounces of gold; over 80% of its revenue generated from the U.S. and Canada, and sector-leading free cash flow. Significant and Immediate Addition to Coeur's EBITDA and Free Cash Flow – The combined company is expected to generate approximately $3.0 billion of EBITDA and approximately $2.0 billion of free cash flow in 2026 at signifi...