NEW GOLD INC CDA

Ticker: NGD CUSIP: 644535106 Class: COM

CONFLUENCE INVESTMENT MANAGEMENT LLC's Holding History (CIK: 0001442056)

Note: Option positions (PUT/CALL) are excluded.

Q3 2014

Shares 57,679 Value ($000) $291 Avg Close $6.14 Range $5.05 - $6.78

Q2 2014

Shares 61,572 Value ($000) $392 Avg Close $5.39 Range $4.82 - $6.73

Q1 2014

Shares 62,198 Value ($000) $304 Avg Close $5.77 Range $4.88 - $6.52

Q4 2013

Shares 54,314 Value ($000) $285 Avg Close $5.44 Range $4.68 - $6.42

Q3 2013

Shares 56,300 Value ($000) $337 Avg Close $6.81 Range $5.95 - $8.10

Q2 2013

Shares 57,032 Value ($000) $366 Avg Close $7.13 Range $5.70 - $9.18

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2014	57,679	$291	$6.14	$5.05 - $6.78
Q2 2014	61,572	$392	$5.39	$4.82 - $6.73
Q1 2014	62,198	$304	$5.77	$4.88 - $6.52
Q4 2013	54,314	$285	$5.44	$4.68 - $6.42
Q3 2013	56,300	$337	$6.81	$5.95 - $8.10
Q2 2013	57,032	$366	$7.13	$5.70 - $9.18