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Collegiate Appeals Court Rules in Favour of New Gold in Relation to Cerro San Pedro Environmental Impact Statement
cnw
VANCOUVER, Nov. 15 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX:NGD) today announces that a Collegiate Appeals Court in Mexico City has ruled in favour of the company's position in its latest appeal against the September 2009 nullification of the Cerro San Pedro Mine's Environmental Impact Statement ("EIS"). The court has advised that the decision is positive but has not yet provided the full written decision thus New Gold is not presently aware of what the Collegiate Appeals Court has deemed to be the appropriate next steps in the resolution of the case. New Gold expects to receive the detailed full decision in the coming weeks.
"We are very pleased by this most recent decision and feel it is an important outcome as we work towards a final resolution of the challenges related to the EIS" stated Robert Gallagher, President and Chief Executive Officer.
The decision by the Collegiate Appeals Court comes after the company appealed the decision of a lower court as disclosed on July 7, 2010. While New Gold remains in continuous discussions with all stakeholders to seek resolution to this issue the Cerro San Pedro mine is fully operational and continues its strong performance.
New Gold will continue to provide updates in this matter.
About New Gold Inc.
New Gold is an intermediate gold mining company with the Mesquite Mine in the United States, the Cerro San Pedro Mine in Mexico and Peak Gold Mines in Australia. The company is expected to produce between 330,000 and 360,000 ounces of gold in 2010, growing to over 400,000 ounces in 2012. In addition, New Gold has a strong portfolio of development and exploration assets in North and South America. For further information on the company, please visit www.newgold.com.
cnw
VANCOUVER, Nov. 15 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX:NGD) today announces that a Collegiate Appeals Court in Mexico City has ruled in favour of the company's position in its latest appeal against the September 2009 nullification of the Cerro San Pedro Mine's Environmental Impact Statement ("EIS"). The court has advised that the decision is positive but has not yet provided the full written decision thus New Gold is not presently aware of what the Collegiate Appeals Court has deemed to be the appropriate next steps in the resolution of the case. New Gold expects to receive the detailed full decision in the coming weeks.
"We are very pleased by this most recent decision and feel it is an important outcome as we work towards a final resolution of the challenges related to the EIS" stated Robert Gallagher, President and Chief Executive Officer.
The decision by the Collegiate Appeals Court comes after the company appealed the decision of a lower court as disclosed on July 7, 2010. While New Gold remains in continuous discussions with all stakeholders to seek resolution to this issue the Cerro San Pedro mine is fully operational and continues its strong performance.
New Gold will continue to provide updates in this matter.
About New Gold Inc.
New Gold is an intermediate gold mining company with the Mesquite Mine in the United States, the Cerro San Pedro Mine in Mexico and Peak Gold Mines in Australia. The company is expected to produce between 330,000 and 360,000 ounces of gold in 2010, growing to over 400,000 ounces in 2012. In addition, New Gold has a strong portfolio of development and exploration assets in North and South America. For further information on the company, please visit www.newgold.com.
| House Positions for C:NGD from 20101115 to 20101115 |
| House | Bought | $Val | Ave | Sold | $Val | Ave | Net | $Net |
| 121 Jennings | 168,680 | 1,513,588 | 8.973 | 0 | 168,680 | -1,513,588 | ||
| 1 Anonymous | 364,000 | 3,267,911 | 8.978 | 285,400 | 2,547,565 | 8.926 | 78,600 | -720,346 |
| 79 CIBC | 233,100 | 2,061,946 | 8.846 | 204,700 | 1,826,869 | 8.925 | 28,400 | -235,077 |
| 53 Morgan Stanley | 22,700 | 203,174 | 8.95 | 0 | 22,700 | -203,174 | ||
| 69 Jordan | 14,000 | 124,051 | 8.861 | 3,900 | 34,710 | 8.90 | 10,100 | -89,341 |
| 85 Scotia | 25,250 | 222,678 | 8.819 | 21,050 | 188,326 | 8.947 | 4,200 | -34,352 |
| 124 Questrade | 3,300 | 29,622 | 8.976 | 2,500 | 22,500 | 9.00 | 800 | -7,122 |
| 33 Canaccord | 2,800 | 24,890 | 8.889 | 2,650 | 23,487 | 8.863 | 150 | -1,403 |
| 94 Hampton | 92 | 810 | 8.804 | 0 | 92 | -810 | ||
| 65 Goldman | 50 | 455 | 9.10 | 0 | 50 | -455 | ||
| 81 HSBC | 500 | 4,390 | 8.78 | 1,000 | 8,850 | 8.85 | -500 | 4,460 |
| 72 Credit Suisse | 0 | 700 | 6,223 | 8.89 | -700 | 6,223 | ||
| 30 e3m | 0 | 1,000 | 8,900 | 8.90 | -1,000 | 8,900 | ||
| 62 Haywood | 0 | 1,000 | 8,850 | 8.85 | -1,000 | 8,850 | ||
| 6 Union | 0 | 1,000 | 8,990 | 8.99 | -1,000 | 8,990 | ||
| 5 Penson | 1,100 | 9,890 | 8.991 | 2,300 | 20,439 | 8.887 | -1,200 | 10,549 |
| 19 Desjardins | 13,155 | 116,702 | 8.871 | 14,590 | 130,618 | 8.953 | -1,435 | 13,916 |
| 25 Odlum | 0 | 1,800 | 16,200 | 9.00 | -1,800 | 16,200 | ||
| 13 Instinet | 0 | 3,400 | 30,103 | 8.854 | -3,400 | 30,103 | ||
| 15 UBS | 0 | 3,870 | 34,014 | 8.789 | -3,870 | 34,014 | ||
| 14 ITG | 5,855 | 51,824 | 8.851 | 12,100 | 107,498 | 8.884 | -6,245 | 55,674 |
| 101 Newedge | 900 | 8,001 | 8.89 | 7,300 | 64,273 | 8.805 | -6,400 | 56,272 |
| 80 National Bank | 24,953 | 221,426 | 8.874 | 31,857 | 283,949 | 8.913 | -6,904 | 62,523 |
| 89 Raymond James | 0 | 10,000 | 90,700 | 9.07 | -10,000 | 90,700 | ||
| 39 Merrill Lynch | 200 | 1,762 | 8.81 | 15,500 | 137,500 | 8.871 | -15,300 | 135,738 |
| 2 RBC | 38,480 | 340,621 | 8.852 | 61,685 | 548,538 | 8.893 | -23,205 | 207,917 |
| 99 Jitney | 81,000 | 720,272 | 8.892 | 110,400 | 984,892 | 8.921 | -29,400 | 264,620 |
| 7 TD Sec | 15,950 | 140,565 | 8.813 | 63,650 | 570,197 | 8.958 | -47,700 | 429,632 |
| 250 Infinium Capital | 0 | 62,050 | 563,716 | 9.085 | -62,050 | 563,716 | ||
| 9 BMO Nesbitt | 35,175 | 309,934 | 8.811 | 125,838 | 1,106,605 | 8.794 | -90,663 | 796,671 |
| TOTAL | 1,051,240 | 9,374,512 | 8.918 | 1,051,240 | 9,374,512 | 8.918 | 0 | 0 |