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2/8/17

"Whatever makes you think New Gold (NGD) is strapped for cash, Otto?"

"Ohhh I dunno, just a silly unfounded suspicion of mine I spose...."

This just out:
TORONTO, Feb. 8, 2017 /PRNewswire/ - New Gold Inc. ("New Gold") (TSX:NGD) (NYSE MKT: NGD) today announces that the company has entered into a binding letter agreement with Goldcorp Inc. ("Goldcorp") to sell the company's gold stream on the El Morro project to Goldcorp for $65 million cash (the "Transaction"). The Transaction will provide New Gold with additional liquidity as the company advances the construction of its Rainy River project, which (continues here)
Interestingly NGD carried this asset on its books at U$32m, so at least it's going to look good on the balance. For a couple of months at least.