RE:I'm waiting for the take over news here with t.NGD!!Buy what? a nearly exhausted
copper mine that has no Proven ore left?? and that's what New Afton is... merely a copper mine, essentially, with accessory gold. Three times production value in copper than from gold.
Would you call a potato field with only 25% scattered corn in it a "cornfield"? Nobody is going to pay cornfield prices for a cornfield having 75% potatos, not corn... although that is the 'spin' NGD puts on it, eg from website:
New Gold has a portfolio of two core producing assets and a development project in Canada, situated in top-rated, politically secure, mining friendly jurisdictions:
- Rainy River – a gold-silver mine in Ontario
- New Afton – a gold-copper mine in British Columbia
- Blackwater – a gold-silver project in British Columbia.
The Company also owns the Cerro San Pedro gold-silver mine in San Luis Potosi, Mexico, which concluded active mining in 2016 and as of December 31, 2018, has transitioned to the reclamation phase.
SHOULD READ AS:
- New Afton - a
copper-gold mine in British Columbia.
some folks would consider this misinformation as misleading, deliberately misleading since one must dig up for oneself the truth by gleaning from data they are required to report but is otherwise buried in fluff.
Only question really is when will it shutdown; and will it be exhausted first or sold at fire sale price while running on 'probable' reserves ( not ORE ) .. Barrick is all about GOLD...not copper, which will crash during coming inevitable recession.
Who buys exhausted underground copper mines? The taget in Bc is generally open-pit Copper, not underground copper = v expensive costs. Really now, without a miracle, it'll either get sold cheap, or mothballed or dismantled and yet still be a reclamation burden as is Cerro San Pedro and doesn't look like they can sell, relieve themselves of, that financial drain either.
here comes 50cents USD ???