New Gold — Q1 2016 Earnings Presentation
8 slides from New Gold's earnings presentation, Apr 29, 2016
Slide 1: Management's Discussion and Analysis
Id Management's Discussion and Analysis For the three months ended March 31, 2016
Slide 2: New Gold's production costs remained competitive
New Gold’s production costs remained competitive compared to the broader gold mining space as New Gold had total cash costs (1) of $354 per gold ounce sold and all-in sustaining costs (1) of $758 per gold ounce sold in the first quarter of 2016. We believe New Gold continues to further establish its
Slide 3: Total Cash Costs and All-in Sustaining Costs
TOTAL CASH COSTS (2) (sPexcouo ounce sow, 012 TT 354 ee 121) TT 25 o 100-200 300400500 ALLAN SUSTAINING COSTS (*) (SPexcou ounce sow) 212016 755 1 3,014 2 I 7 300 500 700 900 1,100 Q1 2016 GOLD PRODUCTION BY OPERATING MINE = New 21% Afton m= Mesquite 90,811 OUNCES m Peak Mines 22% Cerro San Pedro
Slide 4: Operating and financial information, three months ended March 31
2016 2015 90,811 94,977 86,031 92,398 1,206 1,229 354 486 758 1,014 154.5 168.9 26.8 (43.8) (0.3) (4.9) 61.5 69.8 62.1 67.4 298.3 365.8 22.4 37.8 85.0 31.4 0.05 (0.09) $nil (0.01) 3 1. The Company uses certain non-GAAP financial performance measures throughout this Management’s Discussion & Analysis
Slide 5: Blackwater, Rainy River, New Afton and other assets
Blackwater Rainy River New Afton Cerro San Pedro Mesquite El Morro gold stream * DEVELOPMENT + OPERATING ¢ STREAM ASSET Peak Mines
Slide 6: Commodity Prices
13 Commodity Prices Gold prices The price of gold is the largest single factor affecting New Gold’s profitability and operating cash flows. As such, the current and future financial performance of the Company is expected to be closely related to the prevailing price of gold. In the current period, t
Slide 7: Foreign exchange impact on operating costs
14 For an analysis of the impact of foreign exchange fluctuations on operating costs for the three months ended March 31, 2016 relative to prior-year periods, refer to the “Review of Operating Mines” sections for New Afton, Peak Mines and Cerro San Pedro.
Slide 8: Adjusted net earnings
18 The net earnings have been adjusted, including the associated tax impact, for costs in “Other gains (losses)” on the unaudited condensed consolidated income statement. Key entries in this grouping are: the fair value changes for the gold stream obligation; share purchase warrants and the gold opt