New Gold further increases cash flow certainty with gold option contracts
“We continue to have a positive view on the gold market. Given the meaningful increase in the gold price, we are taking a prudent step to establish a floor price for our revenues through the balance of 2016 while maintaining significant exposure to higher prices,” stated Brian Penny, Executive Vice President and Chief Financial Officer. “Our unique decision to enter into the option contracts is solely a function of 2016 being our most significant year of investment at our Rainy River project. We do not have any plans to enter into any similar contracts beyond this brief nine-month period.”