Coeur Mining Shareholders Approve Merger with New Gold

Shareholders of Coeur Mining and New Gold have given their overwhelming approval to a proposed merger, setting the stage for a significantly expanded North American precious metals operation. The vote, held at special meetings on Tuesday, clears a major path for the transaction first announced in November 2025.

The merger proposal received near-unanimous backing from investors. More than 99% of the votes cast by New Gold shareholders were in favor of the combination. The deal is structured as a "Plan of Arrangement," a common framework in North America for executing acquisitions in a legally and fiscally efficient manner.

Key terms of the agreement are as follows:
* Shareholders of New Gold will receive 0.4959 Coeur Mining shares for each of their existing shares.
* Upon completion, pre-merger Coeur investors will own approximately 62% of the combined entity.
* Former New Gold shareholders will hold a stake of roughly 38%.

This structure establishes Coeur as the dominant partner while significantly broadening the company's investor base to include New Gold's former equity holders.

Strategic Rationale: Expanding the North American Footprint

The primary strategic aim is to integrate New Gold's core assets into Coeur's existing North American portfolio. Central to this expansion are two key Canadian mining operations:
* The New Afton Mine located in British Columbia.
* The Rainy River Mine situated in Ontario.

Should investors sell immediately? Or is it worth buying Coeur Mining?

Management from both companies anticipate that bringing these assets together will bolster overall production profiles and unlock operational synergies. Potential benefits are expected from combined procurement efforts, optimized use of shared infrastructure, and a broader mineral resource base.

Market Performance and Investor Sentiment

Despite the clear shareholder mandate, Coeur Mining's stock experienced some mild selling pressure on Wednesday. Shares were recently quoted at around $25.45, representing a modest daily decline.

However, a broader view reveals a strongly positive trend. The stock has advanced approximately 39% over the past 30 days and is up more than 45% since the start of the year. Compared to its 52-week low of $4.39, the share price has multiplied several times over. The current trading level sits just over 5% below its recent annual peak, indicating that the market continues to view the strategic repositioning favorably, despite occasional profit-taking sessions.

Path Forward and Upcoming Milestones

While shareholder approval represents a critical hurdle, the merger process is not yet finalized. The companies must now navigate standard regulatory reviews and obtain necessary court approvals, which are commonplace for major transactions in the resource sector. Both parties currently expect to formally close the deal in the first half of 2026.

The transaction's ultimate success will depend heavily on the seamless integration of the New Afton and Rainy River mines into Coeur's operational framework and the extent to which projected synergies are realized. Investors may gain an early insight into the merger's progress on February 18, 2026, when Coeur is scheduled to release its fourth-quarter 2025 financial results and is likely to provide more detailed commentary on the integration plans.