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NGD - New Gold: The Blackwater Sale Raises Several Questions
New Gold Inc.
Yesterday, New Gold (NGD) announced the sale of its Blackwater gold project to a small and relatively unknown company named Artemis Gold (ARGTF). New Gold will receive C$190 million ($142 million), consisting of a C$140 million ($105 million) payment upon closing of the transaction and C$50 million ($37 million) payment 12 months after. New Gold will also receive shares of Artemis Gold worth to the lesser of C$20 million ($14.94 million) or 9.9% of the issued and outstanding Artemis common shares as at closing of the deal. More importantly, New Gold