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Additional Information
Market: TSX AMEX
Sector: Gold Mining
EPIC: NGD
Latest Price: 11.97  (0.42% Ascending)
52-week High: 13.88
52-week Low: 8.65
Market Cap: 5,385.21M
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New Gold Inc
www.newgoldinc.com

New Gold is a mid-tier gold producer created out of a three way merger between New Gold, Peak Gold and Metallica Resources in 2008.  The company has operating mines in Australia and Mexico, with further interests in Canada and Chile. The company has set a target of 1 million ounces of gold production by 2012.

 

Full New Gold Inc profile here
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New Gold ups 2010 production guidance to 330,000 to 360,000 ounces of gold

25th Jan 2010, 12:30 pm
New Gold ups 2010 production guidance to 330,000 to 360,000 ounces of gold

New Gold (TSX/NYSE AMEX: NGD) announced record quarterly and annual gold production of 111,672 and 301,773 ounces, respectively, which was ahead of guidance of 270,000 to 300,000 ounces. New Gold’s fourth quarter production figure was a 41% increase on the same quarter in 2008, while total gold production for 2009 was 29% ahead of 2008. 


Preliminary total cash cost for 2009 was $462 per ounce sold (net of by-product sales) and below guidance of $470 to $490 per ounce sold.


The rapidly growing gold group said that it had “excellent” production results from its three operating mines, Cerro San Pedro, Peak Mines and Mesquite.  Cerro San Pedro and Peak Mines also produced higher than forecast amounts of silver and copper.


"We are extremely pleased with the company's operating performance in 2009; our operations bettered production and cash cost guidance and New Afton continues on its steady path toward production," stated Robert Gallagher, President and Chief Executive Officer. "With our successful operational performance, New Gold is well positioned for even better results in 2010."


New Gold dished up further good news for investors, upping its production guidance for 2010 to 330,000 to 360,000 ounces at total cash cost of $445-$465 an ounce, net of by-product credits.

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