Lundin says buy New Gold Lundin says buy New Gold
2013-05-13 18:44 ET - In the News
Brien Lundin, in the May, 2013, edition of the Gold Newsletter, says buy New Gold Inc., recently $7.52. Mr. Lundin said buy in September, 2009, at $3.36. A $1,000 investment at $3.36 is now worth a pleasing $2,165. New Gold expects to produce between 440,000 and 480,000 ounces of gold this year from its four producing mines, Mesquite in California, Cerro San Pedro in Mexico, New Afton in British Columbia and Peak in New South Wales. The company also has interests in high-potential exploration projects, Blackwater in B.C. and El Morro in Chile. It has released a resource update for Blackwater, based on 22,220 metres drilled in 89 holes. The update has increased measured and indicated resources for direct processing by 550,000 ounces to 8.62 million ounces. It has also increased the measured gold resource by 46 per cent to 3.9 million ounces. New Gold is now working on a feasibility study, which it expects to release by year-end. Meanwhile, it continues to drill with four rigs at Blackwater. Mr. Lundin says the turbulent gold market has pulled the stock down in the past eight months, but a year from now, shareholders could look back on spring 2013 as a period of great opportunity for buying the stock.