Western Goldfields Inc.

(AMEX:WGW)

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Quarterly Data
Annual Data
Note: All numbers in thousands

	Sep 30, 2008	Jun 30, 2008	Mar 31, 2008	Dec 31, 2007
Assets
Current Assets
Cash & Equivalents	37,914	26,549	32,829	43,870
Restricted Cash	7,500	7,500	7,500	7,500
Marketable Securities	—	—	—	—
Accounts Receivable	364	940	220	298
Loans Receivable	—	—	—	—
Other Receivable	—	—	—	—
Receivables	364	940	220	298
Raw Materials	—	—	—	—
Work in Progress	1,458	—	903	847
Purchased Components	—	—	—	—
Finished Goods	—	—	—	—
Other Inventories	28,847	25,134	16,339	10,354
Inventories Adjustments and Allowances	—	—	—	—
Inventories	30,305	25,134	17,242	11,201
Prepaid Expenses	1,165	800	845	887
Current Deferred Income Taxes	1,070	3,498	2,458	—
Other Current Assets	—	—	—	—
Total Current Assets	78,318	64,421	61,094	63,757
Land and Improvements	3,480	—	—	—
Building and Improvements	4,748	—	—	4,214
Machinery Furniture and Equipment	112,366	105,551	94,981	77,317
Construction in Progress	4,592	10,246	—	3,517
Other Fixed Assets	—	—	12,082	—
Total Fixed Assets	125,186	115,797	107,063	85,049
Gross Fixed Assets	125,186	115,797	107,063	85,049
Accumulated Depreciation and Depletion	13,837	7,097	—	7,097
Net Fixed Assets	111,349	108,700	107,063	77,951
Intangibles	—	—	—	—
Cost in Excess	—	—	—	—
Non Current Deferred Income Taxes	31,285	45,497	44,507	37,133
Other Non Current Assets	13,554	13,626	13,699	35,654
Total Non Current Assets	156,188	167,823	165,269	150,739
Total Assets	234,506	232,244	226,363	214,495
Liabilities
Current Liabilities
Accounts Payable	8,315	5,673	7,274	5,319
Notes Payable	—	—	—	—
Short Term Debt	20,783	24,078	13,892	8,817
Accrued Expenses	—	—	—	1,541
Accrued Liabilities	—	—	—	1,922
Deferred Revenues	—	—	—	—
Current Deferred Income Tax Liabilities	—	—	—	—
Other Current Liabilities	—	—	—	—
Total Current Liabilities	29,098	29,751	21,166	17,598
Non Current Liabilities
Long Term Debt	125,863	82,753	76,734	56,966
Capital Lease Obligations	—	—	—	—
Deferred Income Tax Liabilities	—	—	—	—
Other Non Current Liabilities	5,323	76,465	81,858	74,642
Minority Interest Liabilities	—	—	—	—
Preferred Securities of Subsidiary Trust Liabilities	—	—	—	—
Preferred Equity Outside Stock Equity	—	—	—	—
Total Non Current Liabilities	160,284	188,969	179,758	149,206
Total Liabilities	131,186	159,218	158,592	131,608
Shareholders' Equity
Preferred Stock Equity	—	—	—	—
Common Stock Equity	74,222	43,275	46,605	65,290
Common Par	—	—	—	133,725
Additional Paid in Capital	135,267	142,945	142,216	—
Cumulative Translation Adjustment	—	—	—	—
Retained Earnings	-69,154	-99,670	-95,611	-75,987
Treasury Stock	—	—	—	—
Other Equity Adjustments	8,109	—	—	—
Total Capitalization	200,085	126,028	123,339	122,256
Cash Flow	8,197	-60,229	-61,198	-46,041
Working Capital	49,220	34,670	39,928	46,159
Free Cash Flow	-16,857	-28,208	-19,471	-126,758
Invested Capital	200,085	126,028	123,339	122,256
Total Equity	74,222	43,275	46,605	65,290
Total Liabilities and Stock Equity	234,506	232,244	226,363	214,495

	Dec 31, 2007	Dec 31, 2006	Dec 31, 2005
Assets
Current Assets
Cash & Equivalents	43,870	5,503	52
Restricted Cash	7,500	—	—
Marketable Securities	—	—	—
Accounts Receivable	298	224	10
Loans Receivable	—	—	—
Other Receivable	—	—	—
Receivables	298	224	10
Raw Materials	—	—	—
Work in Progress	847	271	669
Purchased Components	—	—	—
Finished Goods	—	—	—
Other Inventories	10,354	241	236
Inventories Adjustments and Allowances	—	—	—
Inventories	11,201	512	905
Prepaid Expenses	887	842	308
Current Deferred Income Taxes	—	—	—
Other Current Assets	—	—	—
Total Current Assets	63,757	7,079	1,276
Land and Improvements	—	—	—
Building and Improvements	4,214	3,550	3,550
Machinery Furniture and Equipment	77,317	4,020	3,480
Construction in Progress	3,517	2,881	11
Other Fixed Assets	—	—	—
Total Fixed Assets	85,049	10,451	7,041
Gross Fixed Assets	85,049	10,451	7,041
Accumulated Depreciation and Depletion	7,097	3,242	2,170
Net Fixed Assets	77,951	7,209	4,871
Intangibles	—	—	—
Cost in Excess	—	—	—
Non Current Deferred Income Taxes	37,133	—	—
Other Non Current Assets	35,654	7,926	7,729
Total Non Current Assets	150,739	15,135	12,600
Total Assets	214,495	22,214	13,876
Liabilities
Current Liabilities
Accounts Payable	5,319	1,694	807
Notes Payable	—	—	—
Short Term Debt	8,817	—	2,205
Accrued Expenses	1,541	836	696
Accrued Liabilities	1,922	—	49
Deferred Revenues	—	—	—
Current Deferred Income Tax Liabilities	—	—	—
Other Current Liabilities	—	—	34
Total Current Liabilities	17,598	2,530	3,791
Non Current Liabilities
Long Term Debt	56,966	—	—
Capital Lease Obligations	—	—	—
Deferred Income Tax Liabilities	—	—	—
Other Non Current Liabilities	74,642	4,805	6,197
Minority Interest Liabilities	—	—	—
Preferred Securities of Subsidiary Trust Liabilities	—	—	—
Preferred Equity Outside Stock Equity	—	—	—
Total Non Current Liabilities	149,206	7,335	9,988
Total Liabilities	131,608	4,805	6,197
Shareholders' Equity
Preferred Stock Equity	—	—	10
Common Stock Equity	65,290	14,879	3,879
Common Par	133,725	785	395
Additional Paid in Capital	—	32,100	10,920
Cumulative Translation Adjustment	—	—	—
Retained Earnings	-75,987	-25,678	-12,378
Treasury Stock	—	—	—
Other Equity Adjustments	—	7,672	4,942
Total Capitalization	122,256	14,879	3,889
Cash Flow	-46,041	-10,513	-2,144
Working Capital	46,159	4,549	-2,515
Free Cash Flow	-126,758	-10,811	-760
Invested Capital	122,256	14,879	3,889
Total Equity	65,290	14,879	3,889
Total Liabilities and Stock Equity	214,495	22,214	13,876