New Gold Announces Board and Management Appointments
10 Juli 2008 - 2:00PM
PR Newswire (US)
VANCOUVER, July 10 /PRNewswire-FirstCall/ -- New Gold Inc. ("New
Gold") (TSX and AMEX - NGD) is pleased to announce it held its
first Board of Directors meeting following completion of the
business combination of New Gold, Peak Gold Ltd. and Metallica
Resources Inc. on July 8. At that meeting, Mr. James Estey was
appointed as a Director and new management was appointed. "We are
very pleased that James Estey has decided to join our seasoned
Board of Directors. His experience and knowledge of the financial
markets will be valuable to New Gold," said Robert Gallagher,
President and Chief Executive Officer. Mr. Estey has recently
retired as Chairman of UBS Securities Canada Inc. and has more than
30 years of experience in the financial markets. Mr. Estey joined
Alfred Bunting and Company as an institutional equity salesperson
in 1980 after working at A.E. Ames & Co. for seven years. In
1994, Mr. Estey became the head of the Canadian Equities business,
and in 2002 he was appointed President and CEO of UBS Securities
Canada. In January 2008 he assumed the role of Chairman. Mr. Estey
also serves on the boards of Calvalley Petroleum Inc., Pure Trading
and Range Royalty. He also serves on the boards of The Estey Centre
for Law and Economics in International Trade, The National Ballet
School and St. Clements School. The New Gold Board of Directors is
now comprised of Craig Nelsen, Clifford Davis, Ian Telfer, Pierre
Lassonde, Paul Sweeney, James Estey and Robert Gallagher. New Gold
has also appointed John Marshall as Vice President, Human
Resources. Mr. Marshall has over 20 years experience in human
resources spanning the energy, semiconductor and banking
industries. He was previously the Director of Worldwide HR
Operations for PMC-Sierra Inc. where he managed human resources
operations for employees in over 10 countries. The New Gold
Vancouver based management team is now comprised of Robert
Gallagher, President and Chief Executive Officer, Basil Huxham,
Executive Vice President and Chief Financial Officer, John
Marshall, Vice President Human Resources; Melanie Hennessey, Vice
President Investor Relations and Susan Toews, Corporate Secretary.
Management is excited at the prospects for this new intermediate
gold mining company and is looking forward to creating further
value for shareholders by focussing on three strategies: (1)
routine delivery on our operational targets; (2) execution of our
internal growth projects which are the development of the New Afton
mine and the analysis of processing alternatives at the Amapari
mine; and (3) continued external growth through consolidation of
operations in the junior mining sector. For further information on
New Gold, please visit our new website at http://www.newgold.com/.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain
information contained in the press release, including any
information as to New Gold's future financial or operating
performance, may be deemed "forward looking". All statements in
this press release, other than statements of historical fact, that
address events or developments that New Gold expects to occur, are
"forward-looking statements". Forward-looking statements are
statements that are not historical facts and are generally, but not
always, identified by the words "express", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential"
"budget" and similar expressions, or that events or conditions
"will", "would", "may", "could", or "should" occur. All such
forward-looking statements are subject to important risk factors
and uncertainties, many of which are beyond New Gold's ability to
control or predict. Forward-looking statements are necessarily
based on estimates and assumptions that are inherently subject to
known and unknown risks, uncertainties and other factors that may
cause New Gold's actual results, level of activity, performance or
achievements to be materially different from those expressed or
implied by such forward-looking statements. Such factors include,
without limitation: anticipated synergies from the business
combination may not be realized, there may be difficulties in
integrating the operations and personnel of New Gold, Peak Gold and
Metallica, New Gold is subject to significant capital requirements
associated with its expanded operations and portfolio of
development projects since completion of the business combination,
fluctuations in the international currency markets and in the rates
of exchange of the currencies of Canada, the United States of
America, Australia, Mexico and Chile; price volatility in the spot
and forward markets for commodities; impact of any hedging
activities, including margin limits and margin calls; discrepancies
between actual and estimated production, between actual and
estimated reserves and resources and between actual and estimated
metallurgical recoveries; changes in national and local government
legislation in Canada, the United States, Mexico, Chile and
Australia or any other country in which New Gold currently or may
in the future carry on business taxation, controls, regulations and
political or economic developments in the countries in which New
Gold does or may carry on business; the speculative nature of
mineral exploration and development, including the risks of
obtaining necessary licenses and permits; diminishing quantities or
grades of reserves; competition; loss of key employees; additional
funding requirements; actual results of current exploration or
reclamation activities; changes in project parameters as plans
continue to be refined accidents; labour disputes; defective title
to mineral claims or property or contests over claims to mineral
properties. In addition, there are risks and hazards associated
with the business of mineral exploration, development and mining,
including environmental hazards, industrial accidents, unusual or
unexpected formations, pressures, cave-ins, flooding and gold
bullion losses (and the risk of inadequate insurance or inability
to obtain insurance, to cover these risks). Forward-looking
statements are not guarantees of future performance, and actual
results and future events could materially differ from those
anticipated in such statements. All of the forward-looking
statements contained in this press release are qualified by these
cautionary statements. New Gold expressly disclaims any intent or
obligation to update or revise any forward-looking statements,
whether as a result of new information, events or otherwise, except
in accordance with applicable securities laws. CONTACT: Melanie
Hennessey, Vice President Investor Relations, New Gold Inc.,
Direct: (604) 639-0022, Toll-free: 1-888-315-9715, Email: ,
Website: http://www.newgold.com/ DATASOURCE: New Gold Inc. CONTACT:
Melanie Hennessey, Vice President Investor Relations, New Gold
Inc., Direct: (604) 639-0022, Toll-free: 1-888-315-9715, Email: ,
Website: http://www.newgold.com/
Copyright