TORONTO, May 9, 2018 /CNW/ - New Gold Inc. ("New Gold" or
the "Company") (TSX:NGD) (NYSE American:NGD) has appointed
Raymond Threlkeld as the new
President and Chief Executive Officer of the Company. Mr.
Threlkeld succeeds Hannes Portmann,
who has left the company to pursue other opportunities. Mr.
Threlkeld will continue as a member of the Board of Directors.
Mr. Threlkeld brings extensive operating and executive
leadership experience to the team, highlighted by his strong track
record of value creation and his depth of knowledge of New Gold's
operating assets. He has been a member of the Board since 2009 and
was the Company's Interim Chief Operating Officer from December 2016 to September
2017. Prior to that, Mr. Threlkeld was President and Chief
Executive Officer of Rainy River Resources Ltd. through 2013 when
it was acquired by New Gold, and from 2006 to 2009, he was
President and Chief Executive Officer of Western Goldfields Inc.
when it merged with New Gold.
"On behalf of New Gold and the Board of Directors, I would like
to thank Hannes for his dedication and significant contributions
since joining the company in 2008, and most particularly in
bringing the Rainy River Mine into production during his tenure as
President and Chief Executive Officer. We wish him great success in
his future endeavours," stated Ian
Pearce, Chair of the Board.
"Under Ray's leadership, New Gold will continue to focus on
delivering steady, operational performance at Rainy River and enhancing our financial
flexibility to execute on our capital priorities," added Mr.
Pearce. "I look forward to working with Ray as we continue to
advance a disciplined approach to both productivity and value
creation from our portfolio of long-life assets. We want to
ensure that every dollar we generate is applied to the
highest-returning opportunity – whether that is building our
balance sheet strength or enhancing the ability of our assets to
deliver strong and stable returns."
About New Gold Inc.
New Gold is an intermediate gold mining company. The Company has
a portfolio of four producing assets in top-rated jurisdictions.
The New Afton and Rainy River Mines in Canada, the Mesquite Mine in the United States 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.