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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
Post by domcolumbaon Nov 05, 2020 6:10pm
303 Views
Post# 31848737

Don't listen to the Pumpers anymore

Don't listen to the Pumpers anymoreRun from this stock as fast as your legs can carry you. Toronto, Ontario New Gold Inc. (New Gold or the Company) (TSX and NYSE American: NGD) is pleased to announce that it has entered into a strategic partnership with Ontario Teachers Pension Plan (Ontario Teachers). Under the terms of the strategic partnership, Ontario Teachers has agreed to acquire a 46.0% free cash flow interest in the New Afton mine (New Afton) with an option to convert the interest into a 46.0% joint venture interest in four years, or have their interest remain as a free cash flow interest at a reduced rate of 42.5%, for upfront cash proceeds of $300 million payable upon closing of the transaction (the Transaction). The proceeds from the Transaction will be used to improve New Golds financial flexibility and to reduce net indebtedness. The Teachers own 46% of Free Cash Flow from New Afton mine. RUN Forest RUN!
Bullboard Posts