New Gold Clarifies Recent Misinformation Regarding its Cerro San Pedro Mine

VANCOUVER, Nov. 2 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX - NGD) confirms that all permits, licenses, concessions or authorizations that are required to operate its Cerro San Pedro Mine are valid and in force. New Gold has filed an appeal to a recent decision of the Federal Court of Fiscal and Administrative Justice in Mexico pertaining to the process by which the Environmental Impact Statement ("EIS") for the Cerro San Pedro Mine was approved in 1999. Over the last ten years a small group opposed to the mine has conducted an ongoing series of challenges, appeals and counter appeals related to the EIS approval process. This latest decision does not affect Cerro San Pedro's other permits, including its operating permit or its ability to conduct business."New Gold is a welcome member of the Cerro de San Pedro community and has demonstrated its commitment to corporate social responsibility through meaningful support to our schools, health services and infrastructure improvement," stated Mr. Santos Loredo Tenorio, President of the Cerro de San Pedro Municipality. "The company's contribution to sustainable community development and our future is greatly appreciated."Robert Gallagher, President and CEO of New Gold stated: "We are committed to operating in a socially responsible and sustainable manner in all the regions where we operate. New Gold is confident that all legal requirements related to its Cerro San Pedro Mine are being achieved or exceeded and that ongoing legal activities do not impact the continued operation of the mine."New Gold's Cerro San Pedro Mine has had excellent operational performance in 2009 and has an enviable record of meeting its environmental and social responsibilities. The operation achieved ISO 140001 certification of its Environmental Management System to ensure globally recognized standards ...
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Trading Review for New Gold Inc. Issued by StockPreacher.com

DALLAS, Oct. 20, 2009 (GLOBE NEWSWIRE) -- StockPreacher.com announces an investment report featuring gold mining company New Gold Inc. (AMEX:NGD - News). The report includes financial and investment analysis, analyst consensus, and pertinent industry information you need to know to make an educated investment decision. The investment report on New Gold Inc. (AMEX:NGD - News) should be of particular interest to other gold producers: Aurizon Mines Ltd. (AMEX:AZK - News), IAMGOLD Corp. (NYSE:IAG - News), Goldcorp Inc. (NYSE:...
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New Gold Announces a 16% Increase in Production, 17% Decrease in Cash Cost in the Third Quarter 2009 and Enhanced Value for its El Morro Project

(All figures are in US dollars unless otherwise stated) VANCOUVER, Nov. 3 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX - NGD) today announced unaudited financial and operational results for the third quarter ended September 30, 2009. Gold production was 79,531 ounces in comparison to 68,801 ounces in the same quarter in 2008. Earnings from mine operations increased by 67% to $22.6 million from $13.5 million in the third quarter of 2008. Q3 2009 Highlights << - 16% increase in gold sales to 77,645 ounces from 67,156 ounces in the corresponding quarter in 2008 - 17% decrease in total cash cost(1) per ounce sold, net of by-product sales, to $470 from $565 in the corresponding quarter of 2008 - Cash and cash equivalents of $242.6 million at September 30, 2009 - Recent El Morro announcement increased the market value of the project >> "We are very pleased to report increased production and reduced cash cost in the third quarter, which demonstrates that we continue to deliver on our operational targets and we fully expect to continue on this trend going forward. The company has built tremendous momentum over the last six months and plans to continue to enhance value through assets such as El Morro and delivering on our growth strategy." said Robert Gallagher, President and Chief Executive Officer.Third Quarter Financial ReviewIn the third quarter 2009, earnings from mine operations were $22.6 million in comparison to $13.5 million in the third quarter of 2008. Third quarter net earnings were $4.1 million, or $0.01 per basic share, in comparison to a net loss of $148.9 million, or $0.70 per basic share, in the same period in 2008. The third quarter 2009 increase in net earnings is primarily due to: higher gold and silver production a...
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New Gold ETF Could Shine in Short Run

Stock quotes in this article: GDX , GDXJ , GLD , ...
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Q3 2009 NEW GOLD INC CDA Earnings Release - Before Market Open

Earnings Announcements for Wednesday, November 4CompanySymbolTimeConferenceCall99 CENTS OnlyNDNAfter Market CloseAdept TechnologyADEPAfter Market CloseAffymax, Inc.AFFYBefore Market OpenAgilysys, Inc.AGYSBefore Market OpenAgrium Inc.AGUBefore Market OpenListenAlamo GroupALGAfter Market CloseALGOMA CENTRAL CORPALC.TOTime Not SuppliedALLIANCE BANKSHARES CORPABVAAfter Market CloseAllied Motion Technologies, Inc.AMOTTime Not SuppliedListenAlmost FamilyAFAMBefore Market OpenAlnylam PharmaceuticalsALNYAfter Market CloseListenAlon USA Energy Inc.ALJAfter Market CloseAlterian plcALN.LTime Not SuppliedAlvarionALVRBefore Market OpenListenAmbac Financial GroupABK08:30 am ETListenAmbassadors International, Inc.AMIEAfter Market CloseAmdocs LimitedDOX...
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The Juniors: The Best Thing In Gold

Investors just can't get enough gold. The yellow metal is up nearly 26% this year and reached a record high of $1,117.80 an ounce. Market strategists predict that massive inflation will result from all the extra monetary liquidity floating due to the world's various stimulus plans. Gold is often seen as a hedge, in good times and bad, against inflation and uncertainty. The precious metal has taken on a much greater importance in individual investors' portfolios as inflationary worries persist. IN PICTURES: 7 Tools Of The Trade Both the iShares COMEX Gold Trust (NYSE: IAU) and the SPDR Gold Shares (NYSE: GLD), which each hold the physical metal and represent one-tenth of an ounce of gold, have exploded in recent months. Year to date, GLD has seen a $12.5 billion net inflow of assets, and the fund is currently the second largest exchange-traded fund (ETF). These funds may still have some room to run, but greater returns may lie with those who physically dig the stuff out of the ground. (For related reading, see Ge...
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Mexican revokes permit for Canadian gold mine

MEXICO CITY (AP) -- Mexico revoked the environmental authorization Friday for a Canadian-owned open-pit gold mine that critics say threatens one of the most historic sites in the north-central state of San Luis Potosi. The Environment Department said in a statement that it has pulled the permit for Minera San Xavier, a property of Vancouver, Canada-based New Gold Inc., in accordance with a court ruling in October.The ruling struck down the government's 2006 conditioned approval of the project's environmental impact statement, and ordered environmental authorities to reject the statement.Opponents welcomed the decision. They say local watersheds were threatened by the cyanide used to leech gold out of huge mounds of crushed rock."This is a battle won, because the judges have given the final word," said Ana Maria Alvarado, who represents communal land owners around the Cerro de San Pedro, as the site is known.The mine has been operating for more than two years, blasting apart mountainsides just a few dozen yards away from the church and main square of the 16th-century town of San Pedro.New Gold has said it recovers or reuses almost all the cyanide used in the process, and says it has taken measures to protect or respect historic structures in the town center.The impact of the revocation was unclear as the company said it will continue operating despite the court decision."This latest decision does not affect Cerro San Pedro's other permits, including its operating permit or its ability to conduct business," the company wrote it a Nov. 2 statement.Opponents agree it will be tough to close the mine, especially given high gold prices."We're happy, but we can't declare victory yet, because they won't leave so easily," said Rafael Flores, a mine opponent. "It shouldn't be operating, but they have ...
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