New Gold (AMEX:NGD) has impressed Bank of America (NYSE:BAC) enough for them to initiate coverage on the gold miner.
Reasons cited for the new coverage is the lowering of operation costs associated with mining, and the increase in production at the projects of the company.
Bank of America started New Gold off with a "Buy" rating, and placed a price target of C$7.65 on them.
New Gold closed in Toronto at $5.93, dropping $0.05, a loss of 0.84 percent.
In New York they were up slightly, closing at $5.76, a gain of $0.04, or 0.70 percent.
Shares traded hands at less than half normal volume.
New Gold has a market cap of about $2.26 billion.
Showing posts with label New Gold. Show all posts
Showing posts with label New Gold. Show all posts
Wednesday, August 18, 2010
Thursday, March 18, 2010
New Gold (TSE:NGD) Resumes Operations at Cerro San Pedro Mine
Full Operations Resume at New Gold's Cerro San Pedro Mine
New Gold (TSE:NGD) said it has received approval from a Mexican court to resume full operations at its Cerro San Pedro mine in Mexico.
The mine was partially shut down when concerns over explosives used there had to be litigated.
A federal court made a ruling in 2006 which resulted in the environmental ministry revoking New Gold's permit until the issue was resolved.
Now that full production will resume, New Gold estimates to produce about 95,000 to 105,000 ounces of gold a year, costing about C$390 to C$410 an ounce sold.
New Gold (TSE:NGD) said it has received approval from a Mexican court to resume full operations at its Cerro San Pedro mine in Mexico.
The mine was partially shut down when concerns over explosives used there had to be litigated.
A federal court made a ruling in 2006 which resulted in the environmental ministry revoking New Gold's permit until the issue was resolved.
Now that full production will resume, New Gold estimates to produce about 95,000 to 105,000 ounces of gold a year, costing about C$390 to C$410 an ounce sold.
Friday, March 12, 2010
Barrick Gold (TSE:ABX) Wants Xstrata Added to Lawsuit
Barrick Gold, Xstrata, New Gold, Goldcorp
Barrick Gold (TSE:ABX) has been fighting for what it believes is its right to a property in Peru, and have filed a lawsuit against Goldcorp (NYSE: GG) and New Gold (AMEX: NGD) for control of the property. They have now requested that Xstrata, based in Switzerland, to be added ot the suit.
The reason Xstrata is being requested to be added to the lawsuit is Barrick claims they backed out of a deal which would have ended up with the mining property in their hands.
The case centers around a first right of refusal, which had expired for New Gold, which made it illegal to sell the property to Goldcorp, based on a shareholder agreement.
Barrick Gold, Xstrata, New Gold, Goldcorp
Barrick Gold (TSE:ABX) has been fighting for what it believes is its right to a property in Peru, and have filed a lawsuit against Goldcorp (NYSE: GG) and New Gold (AMEX: NGD) for control of the property. They have now requested that Xstrata, based in Switzerland, to be added ot the suit.
The reason Xstrata is being requested to be added to the lawsuit is Barrick claims they backed out of a deal which would have ended up with the mining property in their hands.
The case centers around a first right of refusal, which had expired for New Gold, which made it illegal to sell the property to Goldcorp, based on a shareholder agreement.
Barrick Gold, Xstrata, New Gold, Goldcorp
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
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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