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Strategies & Market Trends : YellowLegalPad
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To: John McCarthy who wrote (1168)11/11/2010 8:26:54 PM
From: John McCarthy  Read Replies (1) of 1182
 
KOAN

Heads up:

I just got this from another poster as a heads up. I thought that issue had been resolved, but I guess not? I think they are still producing from that mine? I will see what I can find out.

"The only problem with New Gold (NGD) is its continuing litigation involving its Mexican mine. Gold and Silver can run wild and NGD could miss the run up.

"New Gold would also like to provide an update on the legal challenges at its Cerro San Pedro Mine. On July 19th, the company filed an appeal with the Collegiate Appeals Court in Mexico City against the July 7th decision by a lower court which upheld the November 2009 court decision ordering the cancellation of the company's Environmental Impact Statement. A decision on this most recent appeal is expected towards the end of 2010 or early 2011, and the company plans to explore further appeal opportunities if required. The company continues to work closely with SEMARNAT, the Mexican government's environmental agency, and PROFEPA, the Mexican government's environmental enforcement agency, as well as other levels of government and external stakeholders to achieve uninterrupted operation of the Cerro San Pedro Mine.
"

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