NGD - New Gold: Second-Quarter Results Will Likely Look Bleak
New Gold (NGD) has just provided its second-quarter operational results. The gold miner is in an interesting position, as it has recently managed to secure its financial safety at the cost of limiting its near-term upside due to hedging programs and asset sales. Without further ado, let’s look at what happened during the second quarter.
Rainy River
Rainy River mine resumed its operations on April 3 after a 12-day COVID-19-related shutdown and produced 49,633 gold equivalent ounces ((GEO)), down from 51,106 GEO in the first quarter. Gold recovery and mill availability remained mostly