NGD - New Gold's Q2: The Bull Run Was Impressive But Probably A Little Premature
New Gold Inc. (NGD) released its Q2 2020 financial results. As expected, the numbers were notably impacted by the coronavirus-related production disruptions that affected especially the Rainy River mine. The extensive investment program continues at Rainy River. Moreover, the upside provided by the strong gold prices is limited by gold hedges that will expire only at the end of this year. As a result, no miracles should be expected from New Gold before 2021.
In Q2 2020, New Gold produced 98,079 toz of gold equivalent. This number includes 64,294 toz gold and 16.9