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Stock Market & Financial Investment News

News Breaks
July 25, 2013
07:48 EDTNGDNew Gold acquires 86% of Rainy River Resources
New Gold and Rainy River Resources jointly announce that 89.2M common shares of Rainy River had been validly deposited to New Gold's offer to acquire all of the outstanding shares of Rainy River. New Gold has taken up and accepted for payment all of such shares, representing 86.2% of the outstanding shares. New Gold will pay for the shares on or before July 29, 2013.
News For NGD From The Last 14 Days
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August 28, 2015
10:13 EDTNGDHigh option volume stocks
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August 27, 2015
10:06 EDTNGDHigh option volume stocks
High option volume stocks: GLOG ACI NGD BEAT BAX TTPH STJ FNF SSTK
08:05 EDTNGDNew Gold to sell El Morro Interest to Goldcorp for $90M and 4% gold stream
New Gold (NGD) has entered into an agreement with Goldcorp (GG) to sell New Gold's 30% interest in the El Morro project to Goldcorp in exchange for $90M in cash, a 4% stream on gold production from the El Morro property and the cancellation of New Gold's $93M carried funding loan. The $90M are to be paid at closing of the transaction, expected to be in Q4. The 4% stream is on life-of-project gold production from the 417 square kilometre El Morro property, with currently estimated gold mineral reserves of 599M tons at an average gold grade of 0.46 g/T, totalling 8.9M oz. New Gold will pay a fixed $400/oz. on the first 217K ounces of gold delivered as part of the stream. New Gold will no longer be obligated to repay the $93M in debt that Goldcorp funded on the company's behalf. Goldcorp and Teck Resources (TCK) plan to combine their respective El Morro and Relincho projects into a 50/50 joint venture with the interim name of Project Corridor. Goldcorp and Teck are expecting to commence a Pre-Feasibility Study in early 2016 which should be completed 12 to 18 months thereafter.

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