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June 24, 2009 / Jeb

Best Value Gold/Copper Producer New Gold (NGD)

New Gold has strong support at 2.50 which was the previous breakout point.  Investing in New Gold will give you access to the best gold management in the business.  You have the top minds from the major gold companies who have come together to build this company.

They are decreasing cash costs and increasing production.  They have production which will be able to finance their development projects.  El Morro their joint ventured project with Xstrata is on of the largest undeveloped gold-copper mines in the world.

They will also be in a strong financial position to acquire more junior miners.


New Gold has strong support at 2.50 and good price/volume action during this recent gold mining pullback.  Very few mining companies have had such a nice pullback as New Gold has.  I expect that as this pullback ends New Gold will outperform.

I would buy more here at these levels as it will make another move.

Buy under $2.75.

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