300 plus mil for 6 mil oz in a mining friendly country vs Las Cristinas 17 to 20 mil oz in hell.

New Gold to acquire exploration company Rainy River

Thomson Reuters






TORONTO, May 31 (Reuters) - New Gold Inc
agreed on Friday to acquire gold exploration company Rainy River
Resources Ltd for about C$310 million ($301 million) in
a bid to expand its asset base in Canada.


New Gold is offering 0.5 of a New Gold common share for each
Rainy River share tendered, or C$3.83 in cash. It said the offer
represents a premium of 42 percent over Rainy River's closing
price on the Toronto Stock Exchange on Thursday.


Toronto-based Rainy River owns the gold project of the same
name located in northwestern Ontario. The project has about 4
million ounces in proven and probable gold reserves and some 6.2
million ounces in measured and indicated gold resources.