Image: Rainy River mine
Investment thesis
The Canadian-based New Gold, Inc. (NGD) released its production for the second quarter of 2020 on July 14, 2020. It was a weak gold equivalent production scoring a multi-year low due to the disruptions created by the COVID-19 pandemic. Both Rainy River mine and New Afton mine production were affected, the company said:
The Rainy River Mine produced 49,633 gold eq. ounces (48,800 ounces of gold and 70,394 ounces of silver) for the quarter. Following a 12-day voluntary shutdown related to COVID-19 in the first quarter, operations