Overview
- New Gold investors would receive 0.4959 of a Coeur share per New Gold share, implying $8.51 per share based on Oct. 31 pricing and a roughly 16% premium.
- Pro forma ownership would be about 62% for current Coeur shareholders and 38% for New Gold shareholders.
- The companies outline 2026 targets of roughly 900,000 ounces of gold, 20 million ounces of silver, and 100 million pounds of copper, with about $3 billion of EBITDA and $2 billion of free cash flow.
- Coeur shares fell about 11%–12% following the announcement, while New Gold rose early before closing about 1% lower on the TSX as the offer premium was diluted by Coeur’s decline.
- The deal will proceed via a Canadian plan of arrangement, with Coeur planning a TSX listing and noting possible Canadian attention given New Afton’s copper output.