Northgate Exploration Limited - TSX: NGX; AMEX: NXG Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Northgate Exploration Limited - TSX: NGX; AMEX: NXG

NXG 50.07

+1.3%

Oct 31 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Northern Marlin	5/12/2005 8:16:44 AM
	of 148

Northgate Dramatically Reduces Gold Hedge Position; Goal is to be Hedge Free Within One Year VANCOUVER, May 11, 2005 – Northgate Minerals Corporation (TSX: NGX; AMEX: NXG) is pleased to announce that in expectation of higher future gold prices, it has accelerated the reduction of its gold hedge position and reduced its outstanding gold forward sales position by 99,000 ounces since April 1, 2005. This accelerated de-hedging is part of an overall corporate strategy that would see Northgate become debt-free and hedge-free within one year. Northgate’s gold hedge position now stands at 140,250 ounces representing approximately 12% of Kemess South mine production over the next four years and less than 4% Northgate’s total recoverable reserves.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next