New Afton, an exciting project currently under construction in Western Canada. The project is on track for commencement of commercial production by Q4 2012. At today's gold and copper prices, New Afton will be an important cash flow generator for the company.
El Morro, a joint venture project in Chile with owner-operator Goldcorp Inc., in which New Gold has a 30% interest. El Morro entered the permitting stage in November 2008, and in March 2011 received approval for the Environmental Impact Assessment from the Chilean Authorities. The project is advancing through the construction phase toward the commencement of commercial production.
Blackwater, an exciting exploration/development project located in central British Columbia, Canada. Since acquiring the project in June 2011, New Gold has been actively drilling to extend the limits of the Blackwater mineral resource and expand its mineral rights through the acquisitions of Silver Quest Resources and Geo Minerals Inc., which includes the addition of the Capoose gold-silver deposit to the Blackwater mineral resource inventory. In parallel with advancing the project toward completion of a feasibility study in 2014, New Gold is aggressively pursuing new discoveries within the greater Blackwater region.