eResearch Blog: Western Goldfields

Is Gold Where It’s At?

Western Goldfields Inc. - TSX:WGI; and OTCBB: WGDFF
TSX Price (August 10): $2.70
52-Week High-Low: $3.50 - $1.40
Initiating Report Price: $1.50 (November 22/06)
Initiating Report Target Price: $2.45
Update Report Price: $2.75 (August 8/07)
Update Report Target Price: $4.20

eResearch recently issued an Update Report on Western Goldfields Inc. Since the Company is approaching the start-up of production at its Mesquite Mine, scheduled for January 2008 and three months ahead of original expectations, we anticipate that there will be increasing investor interest in the stock with the growing realization that the Company will soon be generating cash flow. Consequently, we have raised our Target Price, for the 12 months ending next August, to $4.20 per share.

Last week, Western Goldfields’ stock performed relatively well, notwithstanding the severe carnage going on all around it. If this can be maintained, it is a strong indication that the stock should perform well after the market has found a bottom and begins to build a base for the next upward move.

The stock Recommendation remains a “Speculative Buy”, and it is considered suitable primarily for higher-risk investors.

These and other reports by eResearch can be accessed at www.eresearch.ca