14 unchanged sentences
The primary factors that influence the need to record write-downs of our stockpiles, leach pads and product inventory include short-term and long-term metals prices and costs for production inputs such as labor, fuel and energy, materials and supplies as well as realized ore grades and recovery rates.
−Removed: The significant assumptions in determining the stockpile, leach pad and metal inventory adjustments at March 31, 2026 included production cost and capitalized expenditure assumptions unique to each operation, a short-term and long-term gold price of $4,873 and $3,992 per ounce, respectively, and a short-term and long-term silver price of $84.33 and $54.91 per ounce, and a short-term copper price of $5.83 per pound.
+Added: The significant assumptions in determining the stockpile, leach pad and metal inventory adjustments at June 30, 2026 included production cost and capitalized expenditure assumptions unique to each operation, a short-term and long-term gold price of $4,504 and $4,116 per ounce, respectively, and a short-term and long-term silver price of $73.15 and $57.85 per ounce, respectively, and a short-term copper price of $6.05 per pound.
The net realizable value measurement involves the use of estimates and assumptions unique to each mining operation regarding current and future operating and capital costs, metal recoveries, production levels, commodity prices, proven and probable reserve quantities, engineering data and other factors.
12 unchanged sentences
The mark-to-market gains and losses are recorded in earnings.
−Removed: At March 31, 2026, the Company had outstanding provisionally priced sales of 16,743 ounces of gold at an average price of $4,795 and of 11 million pounds of copper at an average price of $5.58.
−Removed: Changes in gold and copper prices resulted in provisional pricing mark-to-market loss of $1 million and gain of $1 million for gold and copper,
−Removed: respectively, during the three months ended March 31, 2026.
+Added: At June 30, 2026, the Company had outstanding provisionally priced sales of 16,030 ounces of gold at an average price of $4,244 and of 4 million pounds of copper at an average price of $6.07.
+Added: Changes in gold and copper prices resulted the in provisional pricing mark-to-market loss of $4 million and gain of $7 million for gold and copper,
+Added: respectively, during the three months ended June 30, 2026.
A 10% change in realized gold and copper prices would cause revenue to vary by $7 million and $2 million for gold and copper, respectively.
−Removed: Gold and Copper swap
+Added: Gold and Copper Swap Contracts
Prior to completing the New Gold Transaction, New Gold had entered into gold and copper swap contracts to reduce exposure to gold and copper prices.
The embedded derivatives do not qualify for hedge accounting and are marked to market through earnings each period until final settlement.
−Removed: At March 31, 2026, the Company had outstanding gold and copper swap contracts of 7,550 ounces of gold at an average price of $4,964 and of 11 million pounds of copper at an average price of $5.63.
−Removed: Changes in gold and copper prices resulted in swap contract gain of $1 million and $0.2 million for gold and copper, respectively, during 11 days ended March 31, 2026.
+Added: At June 30, 2026, the Company had outstanding gold and copper swap contracts of 5,000 ounces of gold at an average price of $4,779 and of 4 million pounds of copper at an average price of $5.94.
+Added: Changes in gold and copper prices resulted in swap contract gain of $9 million and $5.0 million for gold and copper, respectively, during the three months ended June 30, 2026.
Foreign Currency
7 unchanged sentences
In 2020, the Company entered into foreign currency forward contracts to manage this risk and designated these instruments as cash flow hedges of forecasted foreign denominated transactions.
−Removed: The Company had no outstanding foreign currency forward exchange contracts at March 31, 2026.
+Added: The Company had no outstanding foreign currency forward exchange contracts at June 30, 2026.
Interest Rates
6 unchanged sentences
Market risk is the adverse effect on the value of a financial instrument that results from a change in interest rates.
−Removed: The Company had no outstanding interest rate swaps at March 31, 2026.
+Added: The Company had no outstanding interest rate swaps at June 30, 2026.
Investment Risk
Equity Price Risk
−Removed: The Company’s equity securities were not significant at March 31, 2026.
+Added: The Company’s equity securities were not significant at June 30, 2026.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.