Last Updated :
30 May 2009 at 02:05 IST
New-Gold gains court approval on WGI, stock rise
Commodity Online
New Gold Inc. (TSE:NGD) has been approved by Ontario Superior Court of Justice (Canada) to exercise a business combination with Western Goldfields (TSE:WGI) to initiate production of around 330,000 and 360,000 ounces of gold in 2009.
New Gold Inc. is an intermediate gold producer with a portfolio of global assets in Mexico, Canada, Australia, Brazil, Chile and the United States.
On completion of the transaction NGD and WGI will achieve a growth of 400,000 ounces by 2012.
NGD gained 5.82% and was last traded at 3.09 while it touched a 52-week high of 9.11 and low of 0.94 whereas WGI closed at 3.06 & gained 5.88% on Thursday at Toronto Stock Exchange.
NCDEX SILVERJUL2012 03 July 2012
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