New Gold Inc T.NGD

NEWS VERY GOOD NEWS .....

[al2006]

Very good news here this stock had a pretty strong finish to day. Looking forward to see what next tomorrow at the opening. Hope short squeeze wont be to heavy on the stock....


Q1 2009 Highlights

- Net earnings of $12.1 million or $0.06 per share
- Cash flow from operations of $7.7 million
- Gold production of 54,938 ounces
- Gold sales of 55,397 ounces at a total cash cost of $513 per ounce,
net of by-product sales(1)
- Cash and cash equivalents of $137 million
- Reduced debt position by C$50 million through the buy back of a
portion of New Gold's Senior Secured Notes for cash consideration of
C$30 million, reducing debt position to C$242 million
- Announced business combination with Western Goldfields Inc., which,
if approved, targets the combined gold production forecast at 330,000
ounces

As disclosed in New Gold's news release issued on April 21, 2009, sales
were higher and cash cost(1) was lower than expected. Guidance remains
unchanged with 190,000 to 210,000 ounces of gold production at total cash cost
of $465 to $485 per ounce, net of by product sales.
"We are pleased to report excellent operational performance for the first
quarter of 2009, performing in line with our expectations. This reflects the
quality of our team and is consistent with management's commitment to
delivering on our operational targets," said Robert Gallagher, President and
Chief Executive Officer. "As we look forward to the business combination with
Western Goldfields, we remain focused on our operational objectives, as well
as executing on our exciting growth strategy and delivering on our vision of
becoming a million ounce producer by 2012."

https://www.newswire.ca/en/releases/archive/May2009/12/c3306.html