State of AffairsI am just as shocked as most you as to how the POG has been going of late but I as battered as I feel I still believe we are well positioned for an upmove in the gold price with NGD. I can't say it any better than Mr. Renaud Adams has said it in the NR today:
"During the year, we repositioned the Company for long-term success as we transition to free cash flow generation in 2021. We improved our operational and cost performance, executed on our strategic capital plans, restructured our balance sheet and improved our liquidity position and we have shifted our focus to driving further operational and cost optimizations at both our assets. We begin the new year as a much stronger company with a growing, higher-margin production profile, and following the expiration of our gold hedges at the end of 2020, we are now fully exposed to the higher gold price as well as the stronger copper price.” stated Renaud Adams, CEO. “The Rainy River Mine is now entering a phase of strong production growth and free cash flow generation and has the potential to extend the life of the underground mine. At the New Afton Mine, we continue to advance all key B3/C-Zone projects on a self-funded basis that will position this asset for a robust free cash flow stream as the C-Zone begins production in the latter part of 2023. We have launched exploration drilling programs at both assets that could increase our resource inventory and potentially extend mine life.”