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NGD - New Gold's Q1: Coronavirus As Problematic As The Gold Hedges
New Gold Inc.
New Gold (NGD) reported its Q1 2020 financial results. Although the report didn't present any major positive surprises, it is important to note that several improvements were reached in comparison to the previous quarter. Most importantly, the gold equivalent production increased, despite the suspension of the Rainy River mine in late March.
In Q1, New Gold produced 66,790 toz gold and 18.5 million lb copper, or 103,435 toz of gold equivalent. It means a 2% increase compared to Q4 2019; however, also a 16% decline compared to the same period of the previous