New Gold Shares On The Toronto Mexico Increases After A Court To Stop Mining At The Company’s Cerro San Pedro
December 22nd, 2009 | File Under : Companies - Gold - Mining Exploration
Mexican court issued a temporary suspension order document mining exploration by mining companies Cerro San Pedro. Cessation of mining exploration of Cerro San Pedro affect the sale of shares of Canadian mining company New Gold on the Toronto Stock Exchange.
The increase in share price of New Gold mining company, climbed 45 cents, or 13 percent. Stock price increase is the largest stock price since May 12.
Chief Executive Officer of New Gold, Robert Gallagher, said, “We are very pleased with the decision of the court and see this as a temporary step that is important because we continue to work with governments and administrative agencies to find permanent and mutually beneficial solution.”
Cerro San Pedro will produce 100,000 ounces this year, compared with 84,600 ounces in 2008.
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