Artemis Gold: In The Pantheons Of The Best Mining Deals

2025-06-24 06:52:39 ET

Blackwater: The Link Between New Gold & Artemis Gold

I concluded my previous research on New Gold ( NGD ) by mentioning its divestiture of the Blackwater Project in June 2020. At the time, New Gold's balance sheet was stretched with $750 million of long-term debt, while the company was also entering a period of large capital investments, particularly at the New Afton Mine in British Columbia. New Gold was certainly not in the best negotiating position at the time and may have behaved somewhat like a forced seller. The transaction also occurred during the economic turmoil that accompanied the early days of the COVID-19 pandemic....

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