New Gold Slightly Lower After Closing Acquisition of Silver Quest Resources
New Gold Inc. (NGD.TO) slipped 3 cents to $10.27 from yesterday's $10.30 close, trading near the lower end of a $10.21 to $10.34 range, following its announcement that it has completed the acquisition of all the shares of Silver Quest Resources Ltd. (SQI.TO).
The company said that as a result of the completion of the arragement, it has acquired Silver Quest's 25% interest in the Davidson Property, which forms the northern half of the Blackwater gold-silver deposit, thus consolidating a 100% ownership in the Blackwater Project. It also acquired a 100% interest in the Capoose Property, located adjacent to Blackwater, covering over 410km2 of land with an established gold and silver mineral resource, the company added.
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