New Guinea Gold Corp. restated earnings results for the third quarter and nine months ended September 30, 2011. To ensure the most accurate information was available for inclusion in the Information Circular the company's board engaged BDO Dunwoody to conduct a review of the accounting treatment of the company's transition to IFRS and of previously reported GAAP figures. As a result of that review, certain adjustments to the financial statements for the three and nine month periods ended September 30, 2011 were identified, as well as the requirement to restate certain comparative Canadian GAAP figures. The impact of the adjustments to the previously reported figures for the period ended September 30, 2011 was a reduction in Equity of CAD 4,891,970 to CAD 20,595,069, which was primarily the result of a re-valuation of inventory as at the review date. For the three months to September 30, 2011, the company has recorded a re-stated loss after tax of CAD 6,732,512, after previously reporting a profit for the quarter of CAD 1,688,175. The movement of CAD 8,420,687 was primarily the result of an impairment expense recognised during the quarter in relation to AFS investments. The profit after tax for the nine months ended September 30, 2011 was reduced by CAD 1,835,644 to CAD 1,670,639, after taking into account the combined effect of the adjustment to cost of sales (adjustment to inventory) and the revised accounting treatment for the disposal of plant and equipment which had been incorrectly recorded. The company announced that it has further strengthened its management team through the appointment of Mr. Ben Graham as its Chief Financial Officer, replacing Mrs. Lisa Hartin effective immediately.