Tuesday, June 4, 2013

New Gold Takes over Rainy River Resources

New Gold says its committed to continuing the work started by Rainy River Resources in the development of a new gold mine south of Kenora.

The Vancouver-based mining company announced last week it would be taking control of Rainy River in a friendly
take-over bid.

President Bob Gallagher says they intend to do a thorough review of the project, but have no plans to shelve it.

Gallagher says they'd being eyeing Rainy River for almost two years before putting forward a bid for the company.