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The Company is a natural resource exploration and development company and has been engaged in the acquisition, exploration and development of natural resource properties since 1980.
New Gold was off my radar screen until the recent acquisition of Metallica, which I have owned for some time. I'm surprised I had never come across NGD... on initial inspection it looks to be a solid play with substantial resources that are way undervalued, like most other players in the junior sector. As such, it acquired MRB at a great price, which will translate into terrific profits either when NGD is itself acquired during the next wave of the commodities super cycle, or when it finally emerges as an intermediate (less likely, IMO). If I had to make a prediction, I would say NGD is acquired by a major or a producing intermediate sometime in the next 12-18 months for $12-$15. I will stay long NGD as my MRB shares convert, and will decide whether to stay long with whomever acquires NGD based on whom it is. Gold to $1,650 on its way to $2,000. Silver to $50 on its way to $100.
Why are they acquiring heavy metal bands?
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