Very good indepth (long) article on NGD New Gold: A Value Investment Opportunity Offering Considerable Upside
Conclusion: ....when it is considered that a conservative valuation methodology has been used, which hasn't factored in any increases in plausible reserves then it is clear that New Gold is under-valued. Even more so when the company's strong pipeline of exploration and development projects are considered. Furthermore, New Gold's low level of debt, low cost of production per ounce, diverse mining operations and growing production are taken into account make the current price a compelling entry point for patient risk tolerant investors seeking exposure to the gold mining sector.
https://seekingalpha.com/article/1608822-new-gold-a-value-investment-opportunity-offering-considerable-upside?source=email_rt_article_readmore