Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, July 6, 2012

Article Excerpt

NEW GOLD INC., $9.95, symbol NGD on Toronto, has three operating mines: the Mesquite mine in the U.S., the Cerro San Pedro mine in Mexico and the Peak mine in Australia. It also owns 30% of the El Morro copper/gold project in Chile (Goldcorp owns the other 70%) and 100% of the Blackwater gold project in B.C. New Gold is now starting up its fourth mine. The $765-million New Afton gold mine in B.C. processed the first ore through its mill on June 28, 2012. New Gold’s target for commercial production at New Afton, defined as 30 days of operation at 60% capacity (or 6,600 tonnes per day) remains August 2012. The company expects New Afton to produce an average of 85,000 ounces of gold and 75 million pounds of copper annually over its 12-year life. There is still room to expand the mine’s reserves and increase production through exploration drilling. New Gold is still a buy. New Gold was recently covered in the…