Oh dear. And Rainy River cost over a billion dollars but only produces 40k oz a quarter? Wasn’t that supposed to be 75k? And Rainy River achieved commercial production on October 19th 2017, but is still ramping up? And all those recent management and board changes? And a mine plan that simply does not work (see the plan to increase throughput, that’s “we can’t run at 1.3g/t ever”)? And the debt? Oh dear.
The best thing we can say is that once we get to the Friday close and know the new share price of NGD, The IKN Weekly this weekend is going to take a hard look at the NGD numbers to see whether there’s a trade here. As one of my smarter friends once said to me about a year ago, Rainy River will one day be a profitable mine for somebody, but it won’t be for NGD shareholders. A complete tale of woe, there really should be a law against what has happened here.