This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

New Gold's Management Presents At Bank Of America Merrill Lynch 18th Annual Canada Mining Conference (Transcript)

Stocks in this article: NGD

Most recently we successfully commissioned New Afton. It hit commercial production earlier than we said, it would and that continues to ramp up. It’s target is l1,000 tons a day and its that we expect to get to by probably October or November and that’s what is its processing out today. We have other world class assets that we are developing. We believe that we can double our gold production, with the projects that we have in hand. We can do that with internally generated cash. We’re not dependent on the capital markets to be able to realize our growth aspirations. But we’ve got a decent track record of growing on net asset value per share. I think I will be able to demonstrate to you how we can – believe that we will be able to continue to do that.

Now, this has enabled our company over the course of there is a sense of frustration as you can see with the bottom three lines of the, these are all the various gold indices relative to the gold prices that’s been up 74% over the course of the past three years or so. And how our stock has done. And we believe by continuing to execute the way that we have by developing quality assets in politically secured jurisdiction that we’ll be able to outperform the gold price going forward.

I referred to operational execution, what we show for each of the last few years, is what our production guidance was sort of the green colored bars I guess and then the brown ones being what we actually delivered, and every single year, we deliver what we promise, from a production perspective, and in fact our cost have also been lower than what we projected. You can see for 2012, we estimate 405,000 to 445,000 ounces of production and we’re well on track to that. And from a cost perspective to $410 to $430 an ounce, and we’re also tracking well towards that number.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs