In Accordance with the Mexican Government's Program to Confront the Flu Epidemic, New Gold Will Stop Mining in the Cerro San Pedro Open Pit for Five Days
VANCOUVER, May 1 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX -
NGD) today announces that in response to the decree issued by the Mexican
Government, which orders a five day closure of all non-essential activities
throughout the country, it will suspend mining in the Cerro San Pedro open pit
from May 1 to May 5, 2009. Operation of the mine's leach pads will continue.
This action is not expected to significantly change the 2009 production
forecast at Cerro San Pedro.
The company has adopted a stringent approach to minimizing the risks
associated with the flu epidemic at its Cerro San Pedro operation in Mexico.
There have been no cases of the swine flu virus confirmed to date at the mine
or in the communities immediately adjacent to the mine. New Gold will continue
to monitor the situation closely and act in the best interest of its employees
and other stakeholders.
New Gold is an intermediate gold mining company with two operating
assets; the Cerro San Pedro Mine in Mexico and the Peak Mines in Australia. In
addition the company has development projects in Canada and Chile. For further
information on New Gold, please visit our website at www.newgold.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this press release, including any
information relating to New Gold's future financial or operating performance,
may be deemed "forward looking". All statements in this press release, other
than statements of historical fact, that address events or developments that
New Gold expects to occur, are "forward-looking statements". Forward-looking
statements are statements that are not historical facts and are generally, but
not always, identified by the words "expects", "does not expect", "plans",
"anticipates", "does not anticipate", "believes", "intends", "estimates",
"projects", "potential", "scheduled", "forecast", "budget" and similar
expressions, or that events or conditions "will", "would", "may", "could",
"should" or "might" occur. All such forward looking statements are subject to
important risk factors and uncertainties, many of which are beyond New Gold's
ability to control or predict. Forward-looking statements are necessarily
based on estimates and assumptions that are inherently subject to known and
unknown risks, uncertainties and other factors that may cause New Gold's
actual results, level of activity, performance or achievements to be
materially different from those expressed or implied by such forward-looking
statements. Such factors include, without limitation: New Gold's operations
are subject to significant capital requirements; fluctuations in the
international currency markets and in the rates of exchange of the currencies
of Canada, the United States, Australia, Brazil, Mexico and Chile; price
volatility in the spot and forward markets for commodities; impact of any
hedging activities, including margin limits and margin calls; discrepancies
between actual and estimated production, between actual and estimated reserves
and resources and between actual and estimated metallurgical recoveries;
changes in national and local government legislation in Canada, the United
States, Australia, Brazil, Mexico and Chile or any other country in which New
Gold currently or may in the future carry on business; taxation; controls,
regulations and political or economic developments in the countries in which
New Gold does or may carry on business; the speculative nature of mineral
exploration and development, including the risks of obtaining necessary
licenses and permits; diminishing quantities or grades of reserves;
competition; loss of key employees; additional funding requirements; actual
results of current exploration or reclamation activities; changes in project
parameters as plans continue to be refined; accidents; labour disputes;
defective title to mineral claims or property or contests over claims to
mineral properties. In addition, there are risks and hazards associated with
the business of mineral exploration, development and mining, including
environmental hazards, industrial accidents, unusual or unexpected formations,
pressures, cave-ins, flooding and gold bullion losses (and the risk of
inadequate insurance or inability to obtain insurance, to cover these risks)
as well as "Risks Factors" included in New Gold's Annual Information Form
filed on March 31, 2009 and management information circular filed on April 15,
2009, both available at www.sedar.com. Forward-looking statements are not
guarantees of future performance, and actual results and future events could
materially differ from those anticipated in such statements. All of the
forward-looking statements contained in this press release are qualified by
these cautionary statements. New Gold expressly disclaims any intention or
obligation to update or revise any forward-looking statements, whether as a
result of new information, events or otherwise, except in accordance with
applicable securities laws.
For further information: M�lanie Hennessey, Vice President, Investor
Relations, New Gold Inc., Direct: (604) 639-0022, Toll-free: 1 (888) 315-9715,
Email: info@newgold.com, Website: www.newgold.com
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New Gold Inc.
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PRODUCER |
CODE : NGD |
ISIN : CA6445351068 |
CUSIP : 644535106 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
New Gold is a gold producing company based in Canada. New Gold produces gold, copper, lead, silver and zinc in Australia and in Mexico, develops copper, gold and silver in Brazil, in Canada and in Chile, and holds various exploration projects in Canada. Its main assets in production are PEAK MINES in Australia and CERRO SAN PEDRO, MESQUITE and CERRO SAN PEDRO in Mexico, its main assets in development are AMAPARI in Brazil, NEW AFTON in Canada and EL MORRO in Chile and its main exploration properties are AJAX - PYTHON, BUCK CLAIMS, 3TS, SIZZLER, CC PROPERTY, VO PROPERTY, TAK PROPERTY, MOUSE MOUNTAIN, G-SOUTH, CHUBBY BEAR, LIBERTY BELL, BOULEVARD, BOUVETTE, WIT YUKON, RAM, SLATE FALLS, PROSPECTOR MOUNTAIN, MAYO, DAVIDSON, BLACKWATER, BOULDER CREEK, CAPOOSE, NATIONAL, CORRAL CANYON and RUDE CREEK in Canada and RIO FIGUEROA in Chile. New Gold is listed in Canada, in Germany and in United States of America. Its market capitalisation is US$ 1.0 billions as of today (€ 946.0 millions). Its stock quote reached its highest recent level on January 07, 2011 at US$ 9.99, and its lowest recent point on March 20, 2020 at US$ 0.39. New Gold has 575 460 032 shares outstanding. |