WGDF.OB Western Goldfields Inc.

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5:04 EST - Western Goldfields Inc. : announced that it has pulled forward gold production at its Mesquite Mine to January 2008, three months ahead of schedule. Estimated average annual production is 160,000 - 170,000 ounces of gold for the period 2008 - 2015. In addition, the Company announced that its prestrip mining commenced in June 2007. Western Goldfields Inc. (OTCBB:WGDF) shares closed up $0.25 at $2.30. Shares are trading up 12 percent on the day.


52wk Range: 1.26 - 2.70
Volume: 433,290
Avg Vol (3m): 202,369

Technicals
Percentage Gainer

Last Price Quote is:
14.01%above 13-day MA
16.65%above 50-day MA
RS Rating: N/A 

Fundamentals
Key Data:
Market Cap (M): $233.06 
P/E Ratio: N/A 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: N/A

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Profile:


Welcome to Western Goldfields, Inc. (TSX:WGI, OTC BB: WGDF). We would like to take this opportunity to thank you in advance for stopping by.

Our hope is that you will find our gold story as exciting as we do. Western Goldfields is continuing to attract investors from around the world and looks forward to the many new investors we expect in the future.

Western Goldfields, Inc. is a gold mining company with operations focused in the Western United States.

Currently the Company's principal asset is the Mesquite Mine located in Imperial County California.


The Mesquite Mine is a permitted mining and processing site using simple, low tech proven heap leach and mining processes in political stable geography - the U.S.A. Western Goldfields acquired the Mesquite Mine from Newmont Mining in 2003.

Despite being a prolific gold producer (3.0 million oz. of gold recovered from 1985 - 2001) a period of low gold prices made it uneconomic to continue operations.

In early 2006, Western Goldfields went through a corporate restructuring (see News Releases on our website) and a new, strong and extremely experienced team of mining people lead by Randall Oliphant took over the direction of the Company.
Since February 13th 2006, the new team has accomplished many important milestones with the objective of restarting full production of approximately 165,000 oz. of gold over a 10-year mine life.

Completed a new $6 million financing
Repaid all of the Company's loans
Created a new website and corporate image
Closed the Reno head office and relocated to Toronto
Completed a new NI 43-101 resource calculation (3.5 million ounces)
Completed a feasibility study
Updated shareholders on our progress and introduced the Company to the institutional and retail investment communities
Examined financing options for Company
While the main focus of the Company's efforts in the short term is to place Mesquite back into full production, several other important initiatives are being planned