In a decisive move set to reshape the North American mining landscape, shareholders of Coeur Mining have granted their approval for the company’s acquisition of New Gold. The vote, held on January 27, 2026, clears a critical path for the creation of a leading precious metals producer with assets spanning the United States, Canada, and Mexico. Only final court and regulatory approvals now stand before the deal’s expected closure in the first half of 2026.
Overwhelming Support from Both Sides
The shareholder meetings for both companies demonstrated near-unanimous support for the transaction. An overwhelming 99.22% of New Gold’s voting shareholders cast ballots in favor of the merger. Coeur Mining’s investors also provided a clear majority vote, solidifying the path forward. The terms are fixed: for each share of New Gold stock held, shareholders will receive 0.4959 shares of Coeur Mining.
Upon completion, existing Coeur shareholders will own approximately 62% of the combined entity, with former New Gold investors holding the remaining 38%. This merger was first announced to the market on November 3, 2025.
Building a Production Powerhouse
The acquisition brings two significant Canadian mining operations into Coeur’s portfolio: the New Afton copper-gold mine and the Rainy River gold mine. These will be integrated with Coeur’s five existing sites. The consolidated company is projected to have an annual production profile encompassing roughly 20 million ounces of silver, 900,000 ounces of gold, and 100 million pounds of copper.
Financial projections released at the time of the deal’s announcement in November forecast substantial scale. The merged company anticipates generating around $3 billion in EBITDA and approximately $2 billion in free cash flow for the 2026 financial year.
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Key Deal Metrics:
* Shareholder Vote Date: January 27, 2026
* New Gold Shareholder Approval: 99.22%
* Exchange Ratio: 0.4959 Coeur shares per New Gold share
* Post-Merger Ownership: 62% Coeur, 38% New Gold
* Expected Closing: First half of 2026
Final Hurdles and Strong Operational Momentum
Before the merger can be finalized, approval from the Supreme Court of British Columbia and other necessary regulatory clearances are required. Coeur has also indicated plans to list on the Toronto Stock Exchange, a move intended to improve access for Canadian investors.
Coeur enters this transformative period from a position of operational strength. The company reported record third-quarter 2025 revenue of $555 million, alongside a record quarterly EBITDA of $299 million. Notably, it generated a positive free cash flow for the fifth consecutive quarter, reaching $189 million in Q3 2025. Furthermore, its liquidity position strengthened significantly, doubling to $266 million.
The company’s full-year 2025 and fourth-quarter financial results, scheduled for release on February 18, will provide the final pre-merger snapshot of its financial health as it prepares to combine with New Gold.
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