New Gold unveils 300% jump in New Afton zone resources
Announcement is a highlight of the company’s first quarter results.
New Gold Inc. announced its results for the first quarter of 2013. Highlights include an updated mineral resource estimate for the C-Zone at its New Afton mine in south central British Columbia, where measured and indicated gold and copper resources increased by over 300% to 300,000 ounces and 211 million pounds respectively, the company said.
“The first quarter provided a solid start to the year for our company,’’ said New Gold Chairman Randall Oliphant in a press release.
New Gold shares eased 4.1% to $7.75 on Wednesday, leaving the company with a market cap of $3.7 billion, based on 476.8 million shares outstanding. The 52-week range is $12.50 and $6.38.
