Title : New Gold (NGD) 4q18 results and 2019 guidance
link : New Gold (NGD) 4q18 results and 2019 guidance
New Gold (NGD) 4q18 results and 2019 guidance
ND's 4q18 is out, the NR is here and there's plenty to chew on. I have two observations, the first ebing that we should all admire Renaud Adams greatly for doing this:
Net loss from continuing operations was $727.7 million($1.26 per share) for the quarter, which includes a $671.1 million ($1.16 per share) impairment loss related to the Rainy River Mine ($452.9 million) and the Blackwater project ($218.2 million). Net loss from continuing operations for the year was $1,070.8 million ($1.85 per share), which includes a $953.2 million($1.65 per share) after tax impairment loss related to the Rainy River Mine ($735.0 million) and the Blackwater project ($218.2 million).
Seriously. That's what a good dozen gold stocks need to do, he has the chops to be honest with the market and it gives a tangible idea of just how much money was flushed down the toilet by the blithering idiots who ran this company before (stick Randall Oliphant right at the top of the list).
As for 2019, this sticks out like a sore thumb.
Not good. At all.
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