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Image: The Rainy River gold/silver mine in northwestern Ontario. Source: New Gold, Inc.
Investment thesis
The Canadian-based New Gold, Inc. (NGD) released its first-quarter results on April 29, 2020. The preliminary results were published a few weeks ago, and we knew already that the production was weak because the company was required to curtail operation at the Rainy River.
New Gold announced a two-week suspension of operations at its Rainy River mine, northwest of Fort Frances. The company said Friday that about 70 per cent of its workforce of 550 is made up