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Gold/Mining/Energy : Prosperity Goldfields Corp -- Ignore unavailable to you. Want to Upgrade?

To: loantech who wrote (75)	6/22/2011 11:14:51 AM
From: Sam Quentin	Read Replies (2) \| Respond to of 906

Globe says New Gold rating boosted to "buy" 2011-06-22 08:52 ET - In the News The Globe and Mail reports in its Wednesday edition that New Gold aims to boost both drilling and its exploration budget at the recently bought Blackwater project in central British Columbia. The Globe's Darcy Keith, May Jeong and Julien Russell Brunet write that UBS analyst Dan Rollins says the project is "likely to deliver positive news flow for" New Gold. Mr. Rollins believes New Gold is "attractively valued relative to historical levels." Although "New Gold has a higher level of legal risk given the legal challenges surrounding the status of the Environmental Authorization of the company's Cerro San Pedro mine in Mexico," Mr. Rollins expects the mid-tier precious metal producer will overcome these legal obstacles. As a result Mr. Rollins has upgraded New Gold to "buy" from "neutral," but kept his 12-month price target at $12 (U.S.). New Gold stock climbed 56 Canadian cents to close Tuesday in Toronto at $9.67 (Canadian). Dennis da Silva of Middlefield Capital recommended buying New Gold in The Globe on Oct. 21, 2010, when it was trading at $6.94 (Canadian). Jennings Capital analyst Stuart McDougall said buy New Gold in The Globe on March 9, 2011, when it could be had for $10.05 (Canadian).