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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) is mainly a gold producer with two producing mines in North America, the New Afton (a gold-copper mine in British Columbia) and the Rainy River (a gold-silver mine in Ontario).
The company also owns the Blackwater project. The project presents proved and probable reserves of 8.2 Au M Oz and Ag 60.8, respectively.
I said in my precedent article that the company’s limited asset portfolio makes it riskier and weaker compared to