MIRA
INFORM REPORT
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Report Date : |
12.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
NEW GOLD INC. |
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Registered Office : |
595 Howe Street Suite 601, Vancouver, British Columbia - V6C 2T5 |
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Country : |
Canada |
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Date of Incorporation : |
31/01/1980 |
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Legal Form : |
Provincially Chartered Corporation - Public |
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Line of Business : |
Engaged in natural resource exploration and development company which
has been engaged in the acquisition, exploration and development of natural
resources properties. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: NEW GOLD INC.
Address: 595 HOWE STREET SUITE 601
City: VANCOUVER
State/Province: BRITISH COLUMBIA
Zip Code: V6C 2T5
Country: CANADA
Telephone: 604-687-1629
Facsimile: 250 318-4294
In KCAD As of: 31/12/2006
Sales / Revenue: 2,746
Net Income: 3,504
Total Equity: 118,866
Number of Employees: 60
Legal Form: Provincially Chartered Corporation -
Public
Website: www.newgoldinc.com
Business Activity: The
Company is engaged in natural resource exploration and development company
which
has been engaged in the acquisition, exploration and development of natural
resources
properties.
NOTE TO CLIENT
NOTE: The provided town KAMLOOPS, corresponds to a branch office of the
Subject which is headquartered at the above-noted address.
LEGAL
Legal Form: Provincially
Chartered Corporation – Public
Since (D/M/Y): 31/01/1980
State/Province of Incorporation: BC
Status:
ACTIVE
Previous Legal Form:
Company is required to publish an annual financial report.
The Company is registered in British Columbia:
NEW GOLD INC.
Inc. Number: BC0203816
Filed: 1/31/1980
Status: Active
Managers/Key
Personnel
Mr. Clifford J. Davis
Chairman Of The Board Of
Directors
Mr. Chris Bradbrook
President & CEO
Mr. Kevin Ross
Chief Operating Officer
Mr. Paul D. Martin
Vice Pres. & Chief Financial Officer
Mr. John Mondin
Controller
AFFILIATED ENTITIES
No affiliates or subsidiaries reported by the Subject.
BANKS
BC
Telephone:
Facsimile:
Account Number:
Account Manager:
No credit facility details reported by the Subject.
PAYMENT HISTORY
TRADE ITEMS
------------------------------------------------------------------------------
Supplier's Name/Industry Terms Amount/Pay Habits/Comments
Rptd
Open Credit Credit
High Total Current
Past Due/Pay Period
Date
Date Limit Limit Dt. Credit Owing $ 1st
2nd 3rd
------------------------------------------------------------------------------
Retail-Establishment:
*Apr 0
1,000 54 54
0 0 0
CITI COMMERCE SOLUTI: 800-233-8619 DLA-2007/03/21 216, Merged
accts #
*Apr Nov/2004 9,500
9,367 7,721 7,721
0 0 0
KAL TIRE H O: 250-558-3220
*Mar 0
452 452 452
0 0 0
ACKLAND GRAINGER CAN: 905-764-8989
*Jan 0
5,000 714 714
0 0 0
-------
------- ------- ------- ------- -------
P.I. =
0 90 Days 15,819
8,941 8,941 0
0 0
Reported ------- ------- ------- ------- -------
-------
Whlsl-Plumbing/Heatg:
*Jan 0
40,070 40,070 40,070
0 0 0
Mfr-Metal Container:
*Oct 0
553 553 553
0 0 0
Transportation Serv:
*Oct 0
54 54 54
0 0 0
Business Services:
*Jun 0
20,000 1,480 1,480
0 0 0
Whlsl-Durable Goods:
*Apr 0
698 220 220
0 0 0
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------- ------- ------- ------- -------
P.I. =
0 Total 77,194
51,318 51,318 0
0 0
Reported ------- ------- ------- ------- -------
-------
PAYMENT
TRENDS
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Payment C.I. Number of Total
Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd 3rd
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1 Qtr/2007
0 5 5
47,909 47,909 0 0 0
4 Qtr/2006
0 5 6
7,002 6,974 28 0 0
3 Qtr/2006
0 10 1
3,298 3,298 0 0 0
2 Qtr/2006
0 8 4
5,707 5,707 0 0 0
1 Qtr/2006
0 8 3
3,950 3,950 0 0 0
4 Qtr/2005
0 16 1
1,366 1,366 0 0 0
3 Qtr/2005
13 5 5
55,831 34,331 21,500 0 0
2 Qtr/2005
0 10 2
1,689 1,689 0 0 0
1 Qtr/2005
0 10 1 91 91 0 0 0
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End (D/M/Y): 31/12/2006 31/12/2005 31/12/2005
Consolidated Consolidated
Sales / Revenues 2,746 488
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RESULTS
Net Income 3,504 2,859 -
ASSETS
Cash and Equivalents 68,054 18,179 -
Accounts Receivables 1,123 326 -
Other Current Assets 80 107 -
Total Current Assets 69,257 18,612 -
Property Plant & Equip 1,959
578 -
Other Fixed Assets 61,440
42,441 -
Total Fixed Assets 63,399
43,019 -
Total Assets 132,656 61,631
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LIABILITIES
Trade Creditors 3,786 3,767
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Other Current Liab - 30
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Total Current Liab 3,786
3,797 -
Other Long Term Liab 10,004 7,347 -
Total Long Term Liab 10,004
7,347 -
Total Liabilities 13,790
11,144 -
EQUITY
Total Equity 118,866 50,487
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FINANCIAL ANALYSIS
Actual
Previous Percentage of total
assets
31/12/2006 31/12/2005 31/12/2006 31/12/2005
Cash and Equivalents 68,054 18,179
51.30 29.50
Other Current Assets 80 107
0.06 0.17
Total Current Assets 69,257 18,612
52.21 30.20
Total Assets 132,656
61,631 100.00 100.00
Total Current Liab 3,786
3,797 2.85 6.16
Other Long Term Liab 10,004 7,347
7.54 11.92
Total Liabilities 13,790
11,144 10.40 18.08
Total Equity 118,866
50,487 89.60 81.92
The above financial figures are provided in CAD thousands.
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STOCK QUOTE:
Exchange/ Symbol: TORONTO STOCK EXCHANGE/NGD
Last: 8.67
High: 8.68
Low: 8.48
Dollar Change: +0.17
Percent Change: 1.96%
Volume: 13900
CURRENT OPERATIONS
NAICS Code: 21223 Copper, Nickel, Lead and Zinc Mining
SIC Code: 1031
Number of Employees: 60
Business Activity:
The Company is engaged in natural resource exploration and development company
which has been engaged in the acquisition, exploration and development of
natural resources properties. The headquarters are at the above-noted address.
There are additional locations in Toronto and Kamloops.
PUBLIC RECORD
A Nationwide search of public and bankruptcy courts revealed no Uniform
Commercial Codes, tax liens, legal actions or bankruptcy filings under the
Subject's name.
GENERAL COMMENTS
A well-established Company, the Subject is engaged in natural resource
exploration and development company which has been engaged in the acquisition,
exploration and development of natural resources properties. Payment records
are considered to be generally satisfactory and a search of public records and
bankruptcy courts returned no derogatory information or record of the Company
filing a bankruptcy petition.
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)