Friday, March 5, 2010

New Gold (AMEX:NGD): Gold Production Increasing

New Gold Production

Gold production from New Gold (AMEX:NGD) has been revised upwardly from between 330,000 to 360,000 ounces for 2010. That is in contrast to 310,773 ounces in 2009.

New Gold has operational mines in the U.S. and Australia, and projects are being developed in Canada and Chile.

In their recent quarterly report, New Gold said gold production in the fourth quarter reahced 111,672 ounces, an increase of 41 percent from the year before at the same time.

Revenue exploded for the company in fourth quarter, surging to $131.8 million, a big increase from the $36.7 million. Much of that was attributed to higher gold prices and increased production at their Mesquite mine.

New Gold Production

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