XML 86 R40.htm IDEA: XBRL DOCUMENT
v3.22.4

Long-term debt (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2022
Financial Instruments [Abstract] |
Schedule of borrowings | Long-term debt consists of the following:
| As at December 31 | As at December 31
(in millions of U.S. dollars) | 2022 | 2021
LONG-TERM DEBT |  |
Senior unsecured notes - due May 15, 2025 (a) | — |  | 97.1 |
Senior unsecured notes - due July 15, 2027 (b) | 394.9 |  | 393.9 |
Credit Facility (c) | — |  | — |
Total long-term debt | 394.9 |  | 491.0 |
Schedule of applicable redemption prices on 2025 Unsecured Notes | During the 12-month period beginning on July 15 of the years indicated at the redemption prices below, expressed as a percentage of the principal amount of the 2027 Unsecured Notes to be redeemed, plus accrued and unpaid interest, if any, to the redemption date:
Date | Redemption prices (%)
2023 | 103.75 |
2024 | 101.88 |
2025 and thereafter | 100.00 |
Schedule of significant covenants | Significant financial covenants are as follows:
| Twelve months ended December 31 | Twelve months ended December 31
Financial Covenant | 2022 | 2021
FINANCIAL COVENANTS |  |  |
Minimum interest coverage ratio (Adjusted EBITDA to interest) | >3.0 :1 | 4.5 : 1 | 7.2 : 1
Maximum leverage ratio (net debt to Adjusted EBITDA) | <4.5:1 | 2.1 : 1 | 0.6: 1
Maximum secured leverage ratio (secured debt to Adjusted EBITDA) | <2.0:1 | 0.2 : 1 | 0.1 : 1
Schedule of reconciliation of liabilities arising from financing activities explanatory | The following is a summary of the changes in liabilities arising from financing activities for the year ended December 31, 2022:
| As at December 31, 2021 | Borrowings | Repayments | Fair Value changes | Interest & Accretion |  | As at December 31, 2022
Liabilities arising from financing activities |  |  |  |  |
Long-term debt | 491.0 | — |  | (100.0) |  | — |  | 3.9 |  | 394.9
Interest payable | 14.9 | — |  | (33.2) |  | — |  | 32.4 |  | 14.1 |
Gold stream obligation | 194.0 | — |  | (24.0) |  | 4.7 |  | — |  |  | 174.7
New Afton free cash flow interest obligation | 467.4 |  | — |  | (12.4) |  | (76.1) |  | — |  |  | 378.9 |
Total | 1,167.3 |  | — |  | (169.6) |  | (71.4) |  | 36.3 |  | 962.6 |

X
- Definition The disclosure of detailed information about borrowings. [Refer: Borrowings] + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name IFRS -Number 7 -IssueDate 2022-03-24 -Paragraph 7 -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2022-en-r&anchor=para_7&doctype=Standard -URIDate 2022-03-24 + Details
Name: | ifrs-full_DisclosureOfDetailedInformationAboutBorrowingsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about significant financial covenants. + References No definition available. + Details
Name: | ngd_DetailedInformationAboutSignificantCovenantsTableTextBlock
Namespace Prefix: | ngd_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about applicable redeemable prices on 2025 Unsecured Notes. + References No definition available. + Details
Name: | ngd_DisclosureOfDetailedInformationAboutApplicableRedemptionPricesOn2025UnsecuredNotesTableTextBlock
Namespace Prefix: | ngd_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure of detailed information about reconciliation of liabilities arising from financing activities explanatory. + References No definition available. + Details
Name: | ngd_DisclosureOfReconciliationOfLiabilitiesArisingFromFinancingActivitiesExplanatoryTableTextBlock
Namespace Prefix: | ngd_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Financial Instruments [Abstract] + References No definition available. + Details
Name: | ngd_FinancialInstrumentsAbstract
Namespace Prefix: | ngd_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration