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Title : New Gold (NGD): Calling bullshit on Renaud Adams
link : New Gold (NGD): Calling bullshit on Renaud Adams

New Gold (NGD): Calling bullshit on Renaud Adams

We know he left Primero after quite rightly disagreeing with its C-suite on the purchase of the moneypit Black Fox (and how right he was). We also know the great job he did at his next gig Richmont. But Renaud Adams is now in the process of ruining his great reputation as he succumbs to the temptation of Bullshit Road. Let us recall his July 11th NR on the New Gold (NGD) Q2 production numbers:

"The Company maintained its liquidity position of approximately $400 million, which supports the implementation of the short-term operational plan."

And now, less than a month later, this:

TORONTO, Aug. 08, 2019 (GLOBE NEWSWIRE) -- New Gold Inc. (“New Gold” or the “Company”) (TSX and NYSE American: NGD) has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on a bought deal basis 93,750,000 common shares (the “Common Shares”), at a price of C$1.60 per Common Share for gross proceeds of C$150 million (the “Offering”).

At least he threw in "short term" in the first one, but little did the nodding donkeys who went for that that bunkum know that "short term" was four freakin' weeks! NGD is a dog and the best CEO i the world cannot paper over the disaster that is its financial status. Why Adams is trying to hoodwink people otherwise, cause them significant financial damage and generating this type of bad blood is beyond my understanding. Your reputation is only as good as your latest gig, Adams is ruining his quicktime.

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