Image: The Rainy River gold/silver mine in northwestern Ontario. Source: New Gold, Inc.
Investment Thesis
The Canadian-based New Gold, Inc. (NGD) is mainly a gold producer with two producing mines in North America, the New Afton, and the Rainy River mines. The company also owns the Blackwater project.
As I have said in a precedent article, New Gold shows some potential growth, particularly entering 2020, when the Rainy River mine is fully operational, and CapEx will drop, allowing the company to generate enough free cash flow.
The company is also working on