New Gold Inc T.NGD

Alternate Symbol(s): NGD

New Gold Inc. is a Canada-based intermediate gold mining company, which is engaged in the development and operation of mineral properties. The assets of the Company, directly or through its subsidiaries, are comprised of the Rainy River Mine in Canada (Rainy River), the New Afton Mine in Canada (New Afton), and the Cerro San Pedro Mine in Mexico (for reclamation) (Cerro San Pedro). The Company also holds approximately a 5% equity stake in Artemis Gold Inc., and other Canadian-focused investments. The Rainy River is a gold mine located in Northwestern Ontario, Canada, approximately 50 kilometers (km) northwest of Fort Frances, Ontario. The New Afton mine is located approximately 10 km west of Kamloops, approximately 350 km northeast of Vancouver, British Columbia, Canada. The Cerro San Pedro Mine is located approximately 20 km northeast of San Luis Potosi, Cerro San Pedro, Mexico.

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New Gold Inc

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Post by goldishon Feb 17, 2010 2:47pm

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Post# 16792313

powerful allies

This transaction is good for both Goldcorp and New Gold.
Taken from article By: Liezel Hill
17th February 2010
Updated 3 hours ago
Goldcorp announced on Tuesday evening it had completed the acquisition of a 70% interest in the El Morro project, in Chile, from New Gold, which had exercised an option to buy the stake from Xstrata.
The transaction closed despite a legal challenge from larger rival Barrick Gold.
Also this month, Goldcorp closed its acquisition of junior Canplats Resources, giving it ownership of the Camino Rojo gold/silver project, located about 50 km south-east of Goldcorp's Penasquito mine.
The company will likely increase its exploration budget for 2010 to include plans for El Morro and Camino Rojo, it said in a statement.
Goldcorp shares rose 0,77% on Wednesday morning, to C$40,39 apiece by 10:18 in Toronto.

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