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Market: TSX, AMEX
Sector: Gold Mining
Epic: TSX-NGD
News: Latest news
Web Site: New Gold Inc
Other Articles: 19-11-200920-10-200906-08-2009

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Tuesday March 16, 12:29Mercator Gold to sell exclusive Copper Flat option to Canada's THEMAC Resources

The deal will allow the group to retain a substantial interest in the promising Mexican copper-gold-molybdenum-silver project without the associated costs.

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Tuesday March 16, 11:50Gulf Resources: a burgeoning industrial minerals force in Africa

A new force in industrial minerals is taking shape in Africa, following on from Gulf's acquisition of world class vermiculite assets from Rio Tinto International in 2009.  

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Monday March 15, 09:01China's growth boosting commodity prices

The latest economic figures from China have put pressure on the dollar and boosted a number of high-yielding currencies, including the Australian dollar and the South African rand.

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New Gold Inc

New Gold Inc

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.

 

Monday, January 25, 2010

New Gold ups 2010 production guidance to 330,000 to 360,000 ounces of gold

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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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