IKN

idle and fond bondage

New Gold (NGD): Why?

Serious question: Why?
“Throughout the year the Company will report gold equivalent ounces using
a constant ratio of $1,500 per gold ounce, $17.75 per silver ounce and
$2.85 per pound copper, and a foreign exchange rate of 1.35 Canadian
dollars to the US dollar.”
  • Why use 84.5X for the gold/silver ratio when it’s been way over 100 in the period and is now 81?
  • Why use 526.3X for the gold/copper ratio when it’s currently 673X?
This is just dumb. These “gold equivalent” results are arguably of marginal use in the first place, but if you’re going to apply pretzel math to them afterward they just make your company look financially inept. Is that how you like the optics of your company Renaud? Dumb dumb dumb.

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