I want to highlight New Gold
I have always hated this name because they fabricate their AISC with massive copper credits at New Afton but I’ve done more work on it and with this downdraft, they are in ZERO trouble. They have sold a collar on this year’s production with a low of 1200 and high of 1400. They get the price between 1200 and 1400… above or below they get the top or bottom of the collar. The most interesting thing is that they have sold forward the first 6 months of next year at a range of 1300-1400 and then Rainy River comes online. They are betting the intermediate future on Rainy River and if they don’t f*ck it up, this mine will get built and will be putting out 325k oz per year in the first quartile of costs. These guys have a good history of brining mines to production as expected or better unlike Goldcorp, so I would expect Rainy River to be on target. This is a name to own. Not to mention they mine massive amounts of copper and has anyone seen copper lately?????
Also, it appears like it wants to make an undercut low false breakdown on the H&S pattern it has been building.
Welcome back cascosts.
Thanks for this.
Certainly one I like, I am waiting for the turn to show itself.
good to see you back.time to say thank you for your cnxc recommandation.
helped me to balance some of losses from the miners i did not sell.