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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

Comment by Arbutus22on Feb 18, 2021 12:24pm
124 Views
Post# 32596470

RE:RE:Everyone selling gold to move to bitcoin?

RE:RE:Everyone selling gold to move to bitcoin?Adding to discussion ... I held several gold stocks, including NGD, until a few weeks ago. I've replaced gold with crypto related holdings. Crypto is no longer a fringe movement; more people are "believing" in crypto. And that's all it takes: belief. Just like belief in any precious metal. Problem with gold is that it doesn't have a use such as nickel, silver, or copper (I own copper and nickel), each of which are needed for the non-carbon transition in society. My concern is that old thinkers (not necessarily old as in age, although this is highly correlated) are hanging onto gold b/c of how it has performed in the past. People under 40 (which I am not) are more receptive to 'new' ways, and are driving adoption of crypto. And of course there are the high profile biliionaires, and institutions not only touting crypto but making major investments; central banks talking up establishing their own digital currency, and large merchants (PayPal, Sqaure, now Tesla, Whole Foods) who are accepting crypto payment. These are leaders; others will follow and as they do, crypto becomes more entrenchedand its value justified. That said, I know all the reasons for holding gold and gold stocks and agree with the gold bulls. But investors are clearly speaking, and they are saying that gold is not the go to store of value it was in years past.
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