Who's Buying Up Shares of New Gold?

The C$1.6-billion three-way merger announced on Monday that will see New Gold Inc. (NGD) welcome fellow gold juniors, Peak Gold Ltd. [PIK/TSX-V] and Metallica Resources Ltd. (MRB) into the fold, received a loud stamp of approval later in the week from Seymour Schulich, one of Canada’s most respected investors.

Mr. Schulich purchased 4 million New Gold common shares through a registered retirement savings plan at C$7.27 each on April 3, 2008. His total common share holdings of 4 million shares in New Gold represents roughly 11% of the total New Gold common shares outstanding. New Gold rose C$0.06 to C$7.41 on Friday.

Mr. Schulich also recently increased his holdings in Starfield Resources Inc. an exploration and development company focused on its Ferguson Lake copper-nickel-cobalt-palladium-platinum property located in Nunavut, Canada.

On March 26, 2008, he bought 2 million common shares of Starfield at C$0.89 each, bringing these common share holdings to 32 million or just over 10% of the total Starfield common shares outstanding. On Thursday, Starfield closed at C$0.97, up C$0.12.

Comments

[the plaintiff:]

i think you missed the investment of the us treasury and feds into the fold, silver, and other metals i the past seceral weeks. this was in the hundreds of billions.

2008 Apr 07 01:12 AM