New Gold Inc. (NGD)

[Gravityzone]

Today's release appears to be decent however the market seems to disagree............


New Gold (T.NGD) tops off 2013 by upping gold reserves 127% per share


New Gold (TSX:NGD, StockForum), a Vancouver-based natural resource exploration and development firm engaged in the acquisition, exploration and development of natural resource properties, announced results today from its 2013 fourth quarter and 2103 fiscal year-end.

According to the news release, it was a strong fourth quarter with the highest production numbers in 2013 resulting in 106,520 gold ounces and 24.0 million pounds copper. Costs for the period totaled US$320 to US$340 per ounce with the all-in sustaining costs ranging between US$815 to US$835 per ounce.

New Gold managed to meet its 2013 full-year outlook with the lowest costs in the company's history, while year-end mineral reserves hit 18.5 million ounces gold, an increase of 127% per share.

The company plans to continue cost reductions in 2014 with gold production expected to remain between 380K to 420K ounces and copper production expected to increase 12% between 92.0 and 100.0 million pounds.

New Gold Executive Chairman, Randall Oliphant, commented, “We are pleased to have finished the year with a strong quarter which enabled us to deliver the lowest cash costs in our history.”

Oliphant continued, “We are particularly proud to have increased the company's reserves per share so significantly, and to have the highest reserves we have ever had, which positions New Gold well for the future.”

Then summed up, “In 2014, we anticipate another solid year with even lower costs driven by the strong performance of New Afton, our biggest cash flow generator.”

Read more at http://www.stockhouse.com/news/natural-resources/2014/02/06/new-gold-t-ngd-tops-off-2013-upping-gold-reserves-127-per-share#SBSak2pWxzosjiS2.99