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New Gold Inc T.NGD

Alternate Symbol(s):  NGD

New Gold Inc. is a Canadian intermediate gold mining company with a portfolio of two core producing assets in Canada, namely the Rainy River gold mine and the New Afton copper-gold mine. The Company also holds other Canadian-focused investments. The Company is engaged in the acquisition, exploration and development of natural resource properties. Rainy River is a gold mine located in Northwestern Ontario, Canada, approximately 65 kilometers (km) northwest of Fort Frances, Ontario. The New Afton mine is located approximately 10 km west of Kamloops, approximately 350 km northeast of Vancouver, British Columbia, Canada.


TSX:NGD - Post by User

Bullboard Posts
Comment by donmc70on Nov 03, 2012 7:21am
334 Views
Post# 20558164

RE: RE: Disproportionately Obliterated today !!

RE: RE: Disproportionately Obliterated today !!

Sold or not is irrelevant.  The brutal net earnings are a result of the increase in the take by the Chilean government  (which will be ongoing in every future quarter) and the loss on the convertable debentures.  The resulting 18 million loss reduced net earnings by 50%.   The Chilean governemnt took 9 million out by increasing the tax rate and this will be every quarter forward along with the fact that there is nothing to prevent another increase with the stroke of a pen.  That is 36 million less in net earnings annually. 

 

 

 

 

 

Bullboard Posts