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NGD - New Gold: Grades Were The Biggest Culprits This Quarter
New Gold Inc.
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 and the Rainy River mines. 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.
The company's limited assets portfolio tends to present it riskier and weaker, primarily when one mine has not performed well as it has been the case for the