Wolf - I know you're a 100% technical - but here is a bit of background info. Pretty brutal when you look at the revenue, cost and debt ratio. Nearly 1 Billion in debt - definitely not McEwen managed company.
Good to see ya back bud.
New Gold ( NGD) stock is absolutely cratering following the miner's Q2 2018 financial results, in which it reported a loss of $302 million, or -$.52 per share, which included an impairment charge of $282 million on its Rainy River mine in Canada.
With a new updated life-of-mine plan at Rainy River, New Gold's updated outlook calls for lower gold ounces and higher costs. The company now expects to produce 415,000 to 480,000 ounces of gold (previously 525,000 to 595,000 ounces of gold) at all-in sustaining costs of $1,080 to $1,120 per ounce (previously $860 to $900 per ounce). Its cash and cash equivalents position fell to $167 million, and New Gold now has close to $1 billion in debt. |
