New Gold: Climbs on plans to divest Blackwater gold project

Artemis Gold

09/06/2020 17:17

** Shares of the Canadian miner  NGD.TO  rise 5.5% to C$1.71
    ** Company to divest its Blackwater gold project in British
Columbia to Artemis Gold  ARTG.V  for C$190 mln ($141.42 mln)
cash  urn:newsml:reuters.com:*:nFWN2DM0MJ
    ** NGD to get an 8% gold stream, which will be reduced to 4%
once 280,000 ounces have been delivered
    ** NGD will also receive C$20 mln in Artemis shares upon
closing of deal
    ** Scotiabank raises PT of U.S.-listed shares  NGD.N  to
$1.75 from $1.50
    ** Brokerage calls the deal "Blackwater bonanza" and says 
it provides NGD with abundant liquidity and an option for more
if it were to sell its new gold stream 
    ** TSX-listed shares of New Gold up 48% YTD, while
NYSE-listed shares have gained 43%


($1 = 1.3435 Canadian dollars)

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))