Latitude Resources Share Discussion Threads

[hammy davies snr] 12/4/2007 16:23

noice chert

[mots] 12/4/2007 16:10

All sells today,price holding up.

[mots] 10/4/2007 12:12

Buy 5,000

Sell 25,000 7,700

[hosede] 10/4/2007 09:58

A tick down this morning - not profit taking already!

[mots] 05/4/2007 12:18

'Supported by net cash of £2.4m, excellent budgeting and financial controls and a strategy to add value with selective investments we expect further solid progress going forwards. Target price of 12p includes 9p for Filipina Grande, 2p for the remaining 4.8m shareholding in Western Goldfields and 1p net cash. Continued development of the key projects could add further value.'

Yes,all very encouraging - and another tick up today

[rickus] 05/4/2007 11:10

Thought this might provoke a bit of comment but perhaps today is too close to Easter to grab much attention.

The mid price is up about 18% in the last few days so the recent results and other information have had some positive effect.

[rickus] 05/4/2007 07:48

Anyone able to post the full update from Evolution - or was that it?

[rickus] 05/4/2007 07:15

My Google alert for Latitude sent this early today:



"Latitude Resources
Posted by: The Insider, in Market whispers

Evolution says buy up to 12p - current price 3.87p. Broker adds: 'Supported by net cash of £2.4m, excellent budgeting and financial controls and a strategy to add value with selective investments we expect further solid progress going forwards. Target price of 12p includes 9p for Filipina Grande, 2p for the remaining 4.8m shareholding in Western Goldfields and 1p net cash. Continued development of the key projects could add further value.'

This entry was posted on Friday, March 30th, 2007 at 1:51 pm and is filed under Market whispers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site."


Is this the first time we have seen Filipina Grande valued? No value ascribed to Santa Dominga and the other prospects nor to the Tanami holding

[loinerscum] 04/4/2007 00:17

Things seem to be improving on the ground at Tanami Gold

The Directors are pleased to provide the following update on the Coyote Gold Project. Following a detailed review of the Project by the Tanami Gold NL operations team and various expert consultants over recent months, good progress has been made in rectifying problems associated with the design and construction of the treatment plant and a decision has been made to recommence open pit mining operations.

• Mining
The open pit mining fleet is currently being mobilised to site with mining to recommence as soon as possible. Although it was planned to commence mining during March 2007, transportation of the mining fleet to site has been delayed due to closure of the Tanami road following heavy rains over recent weeks resulting from cyclone Kara. With the weather now fine, it is expected the fleet should arrive on site within the next two weeks.

• Treatment Plant
Performance of the treatment plant has improved markedly over the last month since it has been reconfigured to a conventional carbon-in-pulp circuit and process design modifications have been implemented. Based upon the recent recoveries achieved, the plant is expected to maintain +90% gold recovery from the treatment of open pit ore when mining recommences during April 2007.

• Diamond Drill Program
A diamond core drill rig is planned to commence drilling at Coyote by mid April 2007. As advised in an update released to ASX Limited on 6 March 2007, the Company plans to drill a number of diamond core drill holes into the Muttley lode at Coyote to achieve a higher level of confidence in the tonnes and grade of that lode and to test for extensions of the lode which is open along strike.In addition, a number of deep drilling exploration targets at Coyote will be drill tested following the Muttley drill program.

Yours faithfully
Tanami Gold NL
Denis Waddell
Executive Chairman

[shoggoth] 04/4/2007 00:02

Andy,

Exactly. On the basis of the vested interest, I've put some money into LTR again after a couple of years of watching them shuffle paper around.

[loinerscum] 03/4/2007 23:38

I found this in Eurohedge newsletter,

For newbies, Martyn Konig is the Latitude CEO.
I'm guessing that Martyn knows Investec George from NM Roschild where both worked previously.
Martyn and Randall are both Board members at Western Goldfields where Randall is CEO.
Investec invested in Western Goldfields and have provided them with around US$200m in loans to develop their Mesquite mine.
Investec own 40m Latitude shares.

Now that's what one terms a close knit team!!

March 2007 Newsletter
Investec, Blackfish join forces for mining and resources fund
Page 1 of 1

Experienced team to target value gaps through special situations and activist opportunities
Investec Bank and Blackfish Capital Management have joined forces to launch the Blackfish-Investec Resources Special Situations Fund, a new addition to the fast-growing resources-investing world that started trading this month.

The event-driven, special situations strategy is focused on the mining and resources sector and aims to leverage off the respective strengths of the two joint-venture partners, which have each committed $20 million in seed capital.

Martyn Konig, the CIO of Blackfish, has 25 years of experience in investment banking and resources - in senior management roles at NM Rothschild, Goldman Sachs and UBS - and has been running his own firm actively investing in the resources sector since 2001.

Co-portfolio manager George Rogers, who has 20 years of mining-focused investment banking experience, is head of the commodity and resource finance team at Investec in London - having previously held senior roles at NM Rothschild, Morgan Grenfell and Deutsche Bank.

They are supported by a team including analysts, geologists, mining engineers, lawyers, derivatives specialists and economists - and also by a high-level advisory panel of figures like Randall Oliphant, the former CEO of Barrick Gold.

The new strategy differs from many of the larger resources funds in that it operates a highly focused investment process identifying special situations and value opportunities based on strong technical and legal due diligence, with active management of the underlying commodity price exposures.

The main focus will be in near-term production mining assets, identifying special situations and activist opportunities where the fund can unlock value in undervalued companies or distressed assets, or conversely short-sell overvalued stocks.

Investments will be hedged through the underlying commodity market so as to focus the portfolio risk on company-specific factors. And the portfolio is likely to be less diversified than the big RAB Special Situations fund, for instance, which has some 600 positions.

"The strategy is all about value," says Konig. "We are not merely trying to get performance from the resources cycle. We are trying to identify value gaps in the mining sector between a company and its peers and we often work with management in order to unlock that value - in both a friendly and, if necessary, an activist way."

The fund is likely to soft-close at $250 million, with a portfolio of some 25-30 positions, and capacity is $500 million.


Now thats a company that might be interested in an undervalued copper junior if only they could identify one!

Cheers
Andy P

[cerrito] 03/4/2007 22:47

A routine check shows that the price of Tanami has picked up some to .135 and Western Godlfields at US1.97 is at it highest since Feb 24.

[nosmo kingmots] 03/4/2007 16:30

13 509PMKUG07 3.75 1000000 T 3.75 4.25 16:17:57 1,000,000


Price holding up well

[nosmo kingmots] 03/4/2007 16:16

And another tick up

[shoggoth] 02/4/2007 22:34

Looking interesting.

[loinerscum] 02/4/2007 18:45

Western Goldfields Announces Mesquite Mine is Fully Funded


Agreement for US$105 million Term Loan Facility and recent equity
offering complete financing requirements for development of the Mesquite
Mine

TORONTO, April 2 /CNW/ - Western Goldfields, Inc. (TSX:WGI,
OTC BB:WGDF.OB), a gold producer focused on developing the Mesquite Mine in
Imperial County, California, today announced that, through its wholly-owned
subsidiary, Western Mesquite Mines, Inc., (the Borrower), it has entered into
a new term loan facility with Investec Bank (UK) Limited. Under the facility,
Western Goldfields will be able to borrow up to $105 million in connection
with its development of the Mesquite Mine. The agreement and the Company's
recent equity offering complete the financing requirements for the Mine. All
currency amounts are in U.S. dollars.
"This is an exciting day for Western Goldfields," said Randall Oliphant,
Chairman. "The signing of this term loan facility completes the financing
program that we undertook late last year to fund the development of the
Mesquite Mine. Together with our recently completed equity offering that
raised net proceeds of $59 million, we now have all of the funding in place to
bring the Mesquite Mine into production."
The $105 million facility comprises multiple-draw term loans maturing
December 31, 2014, of which $85 million will be available to be drawn as
required for the development of the Mesquite Mine, and the remainder will be
available for up to 12 months after completion for other corporate purposes.
Western Goldfields previously announced estimated annual production of 165,000
ounces of gold per year beginning in April 2008.
Achieving completion will require the satisfaction of financial and
technical criteria and is expected to occur in the second half of 2008. Until
completion, the facility will be guaranteed by the Company. The facility is
secured by a pledge of all of the shares of the Borrower and all of the
Borrower's assets. Repayment of the facility will be on a semi-annual basis,
commencing approximately six months from completion with mandatory prepayments
being made from excess cash flow. Interest on each advance will be charged at
U.S. LIBOR plus 2.20 percent pre-completion and 1.75 percent post-completion.
The company believes that the representations, warranties, covenants, and
events of default under the term loan facility are usual and customary for
project debt financing facilities of this type.
Terms of the financing agreement are consistent with those that the
Company announced on November 30, 2006, when it disclosed that it had signed a
mandate letter with Investec Bank (UK) Limited for project debt financing. The
availability of the funds is subject to certain conditions, including the
Borrower entering into an acceptable gold hedging program for approximately
450,000 ounces with certain lenders under the term loan facility, the
resolution of certain ancillary agreements and the delivery of usual and
customary closing documents, opinions and certificates.
"The first deliveries of the $67 million mine fleet have arrived at the
Mesquite Mine site," said Raymond Threlkeld, President and Chief Executive
Officer, "and we are moving full speed ahead with our plans to develop the
mine and to expand its reserves and resources."

Western Goldfields, Inc.
------------------------

Under a new, highly experienced, and dynamic management team, Western
Goldfields is a gold producer focused on completing the expansion of its
Mesquite Mine, located in Imperial County, California, and returning the mine
to full production. Western Goldfields recently announced an increase in the
Mesquite Mine's Proven and Probable reserves to an estimated 2.77 million
ounces of gold, with Measured and Indicated resources exclusive of reserves
estimated at 1.1 million ounces. The Company is estimating average annual
production of 165,000 ounces of gold from the mine at total cost of sales of
approximately $335 per ounce commencing in April 2008.
Western Goldfields, Inc. is listed on the Toronto Stock Exchange and
trades under the symbol WGI, and is quoted on the OTCBB under the symbol
WGDF.OB. For further details regarding the Company, please visit
www.westerngoldfields.com.

Forward-Looking Information
---------------------------

Certain statements contained in this news release may contain
forward-looking information within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and similar Canadian legislation.
Such forward-looking statements are identified by words such as "intends",
"anticipates", "believes", "expects", and "hopes" and include, without
limitation, statements regarding the Company's plan of business operations,
financing options and the consequences thereof, potential contractual
arrangements, receipt of working capital, anticipated revenues, and related
expenditures. There can be no assurance that such statements will prove to be
accurate; actual results and future events could differ materially from such
statements. Factors that could cause actual results to differ materially
include, among others, those set forth in the Company's Annual Report on Form
10-KSB for the year ended December 31, 2006 filed with the U.S. Securities and
Exchange Commission, under the caption, "Risk Factors". Most of these factors
are outside the control of the Company. The availability of funds under the
term loan facility is subject to certain conditions, including the Borrower
entering into an acceptable gold hedging program and the delivery of usual and
customary closing documents, opinions and certificates. Investors are
cautioned not to put undue reliance on forward-looking statements. Except as
otherwise required by applicable securities statutes or regulation, the
Company disclaims any intent or obligation to update publicly these
forward-looking statements, whether as a result of new information, future
events or otherwise.

%SEDAR: 00021587E
%CIK: 0001208038

For further information: please visit www.westerngoldfields.com, or contact:
Brian Penny, Chief Financial Officer, [phone],
[e-mail]; Julie Taylor Pantziris, Director, Regulatory
Affairs and Investor Relations, [phone],
[e-mail]; Richard Wertheim, Investor and Media
Relations, Wertheim + Company Inc., [phone], [e-mail]

[nosmo kingmots] 02/4/2007 16:55

Signs of life - and break-out

[rochdale] 30/3/2007 12:13

good move hosede

[hosede] 30/3/2007 11:53

"However, despite our successes in recent months we believe the market has yet to recognise the full potential of the company".
Lets hope this represents the bottom - with the copper price now back on the up surely a rise in LTR's share price can't be too far off - Maybe! Doubled my holding anyway

[oilchemist] 30/3/2007 10:43

Latitude Resources Interim Results


RNS Number:0241U
Latitude Resources plc
30 March 2007




Latitude Resources plc


Interim Results for the Six Months ending 31 December 2006


Highlights


* Inferred resource declared at Filipina Grande
* New high grade copper discovery at Santa Dominga
* Post tax profit of 1.26 million for the period
* Earnings per share of 0.5 p (2005: loss 0.3p)
* Cash resources of #2.4 million at end of period.



Chief Executive's Statement


I am pleased to report on Latitude Resources plc's interim results for the six
months ended 31 December 2006.


Operations

The six months ended 31 December 2006 was a period of intense activity for the
Company during which we conducted extensive drill programmes at Filipina Grande
and Santa Dominga. These programmes produced significant results which have
since attracted third party interest.


With a total investment of US$1.4 million over 3 years Latitude has progressed
Filipina Grande from a near grass-roots property to a potential mining project
by delineating an inferred resource estimate with a total contained copper
content of over 545 million lbs, or almost 247,000 tonnes.


Since the expansion of the area covered by Latitude's tenure the current
inferred resource estimate is now contained within less than 10% of the total
area. The mineralised zone has a strike length of 1.5km with copper-gold
mineralization intersected over 1km. Near surface oxides outcrop in the north of
the area and the underlying copper sulphide deposit extends to the south.
Filipina Grande is an important priority for us and we expect to widen the
drilling programme to test several other targets within the enlarged area.


The Santa Dominga property has also become a key area of interest for us since
the discovery of a high grade copper zone during the drilling programme, which
ended in November. To date 10,644 metres have now been drilled at this property.
These, encouraging results suggest that Latitude has discovered a significant
new zone of exceptional high grade copper-gold mineralisation in the Candelaria
Belt. Drill results show a consistent grade of circa 1.6% copper with 0.35 g/t
gold and we are now engaged in detailed geological modelling to optimise the
next phase of activity.


A geophysical program carried out on the Company's copper porphyry project, El
Teno, has revealed a classic geophysical signature. This, combined with other
geological and geochemical indications and the evidence of outcrops containing
copper and molybdenum mineralisation, show that the El Teno project is 'drill
ready'. Latitude believes that the most effective strategy to develop this
project further would be in the context of a Joint Venture with a larger partner
as the company's own resources are being fully deployed in pursuing our
interests at Santa Dominga and Filipina Grande.


Your Company has made considerable progress on its lead projects over the past 6
months and we hope to start reaping the benefits of these successes over the
coming financial year.

Investment Activities

Whilst Latitude's principal focus for operations is on developing copper-gold
prospects within Chile, we also manage a complimentary investment portfolio. The
Company seeks to take minority stakes in other resource projects, with the aim
of adding value and maximising the return on shareholders funds through which we
can sustain our exploration activities in Chile without calling on further
funding from shareholders.


During the period, after exercising our warrants, we completed a partial sale of
our stake in Western Goldfields which generated #2.3 million of cash and reduced
our holding in Western Goldfields to 4.8 million shares as at 31 December 2006.
Western Goldfields is a public company which trades on the Toronto Stock
Exchange (TSX: WGI) as well as the OTC bulletin board.


Financial


The group's principal accounting policies remain as stated in the Annual Report
for the year ended June 30th 2006 with the inclusion of FRS 20 Share Based
Payments which applies for the first time in this period.


During the six months ended 31 December 2006, the Group made a consolidated net
profit after taxation of #1,264,000, compared to a restated loss for the period
ended 31 December 2006 of #785,000. The gain after tax in the period was due to
the profit on the sale of fixed asset investments and includes a #41,000 charge
representing the fair value of share options issued by the Company, which have
been calculated in accordance with FRS 20, a new accounting standard adopted for
the first time in the period. Interest earned during the period totaled #55,000
with #2,447,000 of cash at the end of December. During the period a further
#1,015,000 of exploration costs have been capitalised, representing costs
associated with the ongoing exploration on the Company's projects in Chile.


Outlook


The results of the recent drilling programmes at Filipina Grande and Santa
Dominga have been greatly encouraging and the prospects for our team in Chile
making an exciting discovery has never been better. Latitude's 2007 programme is
underway, and we are seeking to add further to the potential of our two flagship
projects. We are continuing to focus our efforts on the strategic objective of
building a world-class junior mining company.


However, despite our successes in recent months we believe the market has yet to
recognise the full potential of the company. We are proud to be one of the few
exploration companies to report a profit and which has sufficient cash in the
bank to fund our current development programme.


I would like to thank, on behalf of the Board, our shareholders for their
continued strong support and to thank my fellow directors and employees for
their hard work. We look forward to reporting on our activities in due course.


Martyn Konig
Chief Executive
30 March 2007

[loinerscum] 28/3/2007 23:43

RNS Number:9271T
Latitude Resources plc
28 March 2007



Latitude Resources plc


Notification of share interest


The Company has received notification from Gartmore Investment Ltd that as at 19
March 2007 they had a beneficial interest in 15,650,000 ordinary shares of 1p
each in the Company ("Ordinary Shares"), which represents approximately 5.78% of
the issued share capital. 9,362,500 of these Ordinary Shares are registered in
the name of Alphagen Volantis Fund Limited, which represents approximately
3.459% of the issued share capital.

28 March 2007


For further information please contact:
Martyn Konig, CEO Latitude Resources plc
Phone [phone]
Fax [phone]
Email: [e-mail]


Simon Rothschild/Keith Irons
Bankside Consultants
Phone [phone]
[e-mail] / [e-mail]

Note:

Latitude's shares are traded on the London Stock Exchange Alternative Investment
Market (AIM) under the symbol LTR and are quoted in Sterling. No stock exchange,
securities commission or other regulatory authority has approved or disapproved
the information contained herein. The directors of Latitude Resources plc accept
responsibility for the contents of this announcement.




They would appear to be an Irish based hedge fund managed by Gartmore! Nice to see new people in at this stage, whoever they are.
Cheers
Andy P

[loinerscum] 26/3/2007 21:11

Good news from Western Goldfields, up around 9% today

Attention Business Editors:

Western Goldfields Increases Reserve and Resource Estimates at Mesquite Gold Mine


- Proven and Probable reserves increased to 2.77 million ounces of gold
- Measured and Indicated resources (inclusive of reserves) increased to
3.87 million ounces of gold
- Inferred resources increased to 19.0 million tons averaging
0.016 ounces of gold per ton

TORONTO, March 26 /CNW/ - Western Goldfields, Inc. (TSX:WGI, OTC BB:
WGDF.OB) today announced reserve and resource increases at its wholly owned
Mesquite Mine located in Imperial County, California.
As of March 22, 2007, the company has completed 100 holes totaling
78,270 feet of drilling. The updated reserve and resource models include data
from 27 of the holes tested in the Brownie Hill area. Assay results from the
remaining 73 holes are pending.
"The drilling at Brownie Hill successfully upgraded Inferred resources to
Proven and Probable reserves," said Raymond Threlkeld, President and Chief
Executive Officer. "Results from two holes drilled in the Big Chief zone, and
announced in February 2007, clearly demonstrate additional, unrecognized oxide
and non-oxide mineralization exists within the proposed mining areas. The
Company is continuing to drill within the Big Chief pit as well as conduct
reconnaissance drilling to identify new targets that will further enhance the
value of the Mesquite mine," added Mr. Threlkeld.

Proven and Probable Reserves Increased
--------------------------------------

Proven and Probable reserves increased to 2.77 million ounces of gold
from the 2.36 million ounces announced in August 2006.
The increase of 410,000 ounces, 90 percent of which is oxide material, is
equally attributable to the drilling program at the Brownie Hill zone that
converted Inferred oxide resources to Proven and Probable reserves and to an
increase in the reserve gold price assumption to US$500 per ounce from
US$450 per ounce.
The Company is applying the new reserve estimates to its life-of-mine
model. Based on the current mining plan of 165,000 ounces per year, Western
Goldfields has increased the reserve life of the Mesquite Mine by
approximately two years. Pit optimization is underway to determine whether
annual production can be increased with the current planned mine fleet.

Measured, Indicated, and Inferred Resources Increased
-----------------------------------------------------

Measured and Indicated resources (inclusive of mineral reserves)
increased to 3.87 million ounces of gold from the previously announced
3.61 million ounces.
Total Inferred resources, which are not included with Measured and
Indicated resources, increased to 19.0 million tons averaging 0.016 ounces of
gold per ton. Current pit designs include 12.0 million tons of the Inferred
resource at an average grade of 0.013 ounces of gold per ton. The Company is
confident exploration drilling can upgrade the Inferred resource within the
current pit design, adding between 100,000 to 200,000 ounces to the mineral
reserves.
"Our new Reserve and Resource estimates," said Randall Oliphant,
Chairman, "provide further confirmation of the truly exciting potential of the
Mesquite Mine to create value for our shareholders and serve as a solid
platform for the growth of our Company."
"Everything is on schedule and in place to make the Mesquite Mine a great
success," Mr. Oliphant continued. "The mine is fully permitted, we have
successfully completed our equity financing, we expect to make an announcement
on the project debt financing in the coming weeks, and delivery of the mining
fleet has begun. Its California location made it attractive for the
recruitment of an experienced mining team and we are using proven mining
technology."

The data contained in this news release has been prepared under the
supervision of Wes Hanson, P. Geo., Vice-President of Mine Development,
Western Goldfields, and the Qualified Person under NI 43-101 for the project.
A table summarizing the updated mineral reserves and resources for the
Mesquite Mine is included in the Appendix to this news release.

Western Goldfields, Inc.
------------------------

Under a new, highly experienced, and dynamic management team, Western
Goldfields is a gold producer focused on completing the expansion of its
wholly owned Mesquite Mine, located in Imperial County, California, and
returning the mine to full production. Western Goldfields, Inc. is listed on
the Toronto Stock Exchange and trades under the symbol WGI, and is quoted on
the OTCBB under the symbol WGDF.OB. For further details regarding the mineral
reserves and mineral resources at Mesquite, please visit
www.westerngoldfields.com.

Forward-Looking Information
---------------------------

Certain statements contained in this news release and subsequent oral
statements made by and on behalf of the Company may contain forward-looking
information within the meaning of the United States Private Securities
Litigation reform Act of 1995 and similar Canadian legislation. Such
forward-looking statements are identified by words such as "intends",
"anticipates", "believes", "expects", "can", and "hopes" and include, without
limitation, statements regarding the Company's plan of business operations,
the potential to convert resources to reserves, financing options and the
consequences thereof, potential contractual arrangements, receipt of working
capital, anticipated revenues, and related expenditures. There can be no
assurance that such statements will prove to be accurate; actual results and
future events could differ materially from such statements. Factors that could
cause actual results to differ materially include, among others, those set
forth in the Company's Annual Report on Form 10-KSB for the year ended
December 31, 2006 filed with the U.S. Securities and Exchange Commission,
under the caption, "Risk Factors". Most of these factors are outside the
control of the Company. Investors are cautioned not to put undue reliance on
forward-looking statements. Except as otherwise required by applicable
securities statutes or regulation, the Company disclaims any intent or
obligation to update publicly these forward-looking statements, whether as a
result of new information, future events or otherwise.

APPENDIX
MESQUITE MINE - MINERAL RESOURCES AND RESERVES
March 26, 2007

----------------------------------------------------------
Mineral Resources Inclusive of Reserves
----------------------------------------------------------
Classification Category Tons Grade Contained
(x 1,000) (Au oz/T) (Au ozs)
-------------------------------------------------------------------------
Measured Oxide 111,196 0.016 1,748,000
Non-oxide 30,587 0.024 729,000
-------------------------------------------------------------------------
Measured Subtotal 141,783 0.017 2,477,000
-------------------------------------------------------------------------
Indicated Oxide 44,523 0.017 759,000
Non-oxide 27,335 0.023 633,000
-------------------------------------------------------------------------
Indicated Subtotal 71,858 0.019 1,392,000
-------------------------------------------------------------------------
Measured &
Indicated Total 213,641 0.018 3,869,000
-------------------------------------------------------------------------

-------------------------------------------------------------------------
Inferred Oxide 13,000 0.013
Non-oxide 6,000 0.022
-------------------------------------------------------------------------
Inferred Subtotal 19,000 0.016
-------------------------------------------------------------------------

----------------------------------------------------------
Mineral Reserves
----------------------------------------------------------
Classification Category Tons Grade Contained
(x 1,000) (Au oz/T) (Au ozs)
-------------------------------------------------------------------------
Proven Oxide 97,961 0.016 1,545,000
Non-oxide 16,429 0.023 386,000
-------------------------------------------------------------------------
Proven Subtotal 114,390 0.017 1,931,000
-------------------------------------------------------------------------
Probable Oxide 38,000 0.017 660,000
Non-oxide 7,914 0.022 176,000
-------------------------------------------------------------------------
Probable Subtotal 45,914 0.018 836,000
-------------------------------------------------------------------------
Proven &
Probable Total 160,304 0.017 2,767,000
-------------------------------------------------------------------------

-------------------------------------------------------------------------
Inferred Oxide 11,000 0.013
Non-oxide 1,000 0.020
-------------------------------------------------------------------------
Inferred Subtotal 12,000 0.013
-------------------------------------------------------------------------

----------------------------------------------------------
Mineral Resources Exclusive of Reserves
----------------------------------------------------------
Classification Category Tons Grade Contained
(x 1,000) (Au oz/T) (Au ozs)
-------------------------------------------------------------------------
Measured Oxide 13,235 0.015 203,000
Non-oxide 14,158 0.024 343,000
-------------------------------------------------------------------------
Measured Subtotal 27,393 0.020 546,000
-------------------------------------------------------------------------
Indicated Oxide 6,523 0.015 99,000
Non-oxide 19,421 0.024 457,000
-------------------------------------------------------------------------
Indicated Subtotal 25,944 0.021 556,000
-------------------------------------------------------------------------
Measured &
Indicated Total 53,337 0.024 1,102,000
-------------------------------------------------------------------------

Inferred Oxide 2,000 0.015
Non-oxide 5,000 0.022
-------------------------------------------------------------------------
Inferred Subtotal 7,000 0.020
-------------------------------------------------------------------------

1. The Company's mineral reserves are estimated using appropriate
cut-off grades at an assumed gold price of US$500 per ounce and
projected process recoveries, operating costs and life of mine plans
which include allowances for dilution and mining recovery.
2. The Company's mineral reserves are consistent with the definitions
established by Industry Guide 7, administered by the U.S. Securities
and Exchange Commission.
3. The Company's mineral resources are estimated using appropriate cut
off grades at an assumed gold price of US$600 per ounce and projected
process recoveries, operating costs and life of mine plans which
include allowances for dilution and mining recovery.
4. The Company's mineral resources and mineral reserves are classified
in accordance with the Canadian Institute of Mining, Metallurgy and
Petroleum's (CIM) "Standards on Mineral Resources and Reserves,
Definitions and Guidelines".
5. Cautionary note to U.S. investors concerning Measured, Indicated and
Inferred mineral resources: These terms are required by the CIM's
"Standards on Mineral Resources and Reserves, Definitions and
Guidelines". U.S. Investors are cautioned not to assume that all or
any part of the stated mineral resources will be converted into
reserves.
6. The Company's mineral resource and reserve estimates were prepared
under the supervision of Mr. W. Hanson, P.Geo., Vice-President of
Mine Development, Western Goldfields, Inc.

%SEDAR: 00021587E
%CIK: 0001208038

For further information: www.westerngoldfields.com; Raymond Threlkeld,
President and Chief Executive Officer, [phone],
[e-mail]; Julie Taylor Pantziris, Director, Regulatory
Affairs and Investor Relations, [phone],
[e-mail]; Richard Wertheim, Investor and Media
Relations, Wertheim + Company Inc., [phone], [e-mail]

[drb01089] 19/3/2007 11:51

did anybody else read the article?

[loinerscum] 15/3/2007 18:53

I presume it is the free magazine produced by these people

[allini245] 15/3/2007 17:23

JONN01 Which magazine is that. Can you get it on the net. Still can't understand how this little gem hasn't moved after all the good news we have had.
Thanks in advance. Good luck to all