SI
SI
discoversearch

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 50.72+1.3%Nov 3 3:59 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Northern Marlin who wrote (2)2/27/2004 12:38:15 PM
From: Northern Marlin   of 148
 
NXG CFO Jon Douglas replies:

From: "Jon Douglas" <deleted>
To: <deleted>
Subject: Information You Requested
Date: Friday, February 27, 2004 11:36 AM

Hello Mr. Jones,

Thank you for your interest in Northgate. In answer to your questions.

1. Feasibility study completion date can be accurately predicted as it is within our control. We expect it to be completed on or about March 31 and be released and filed on SEDAR shortly afterwards as a 43-101 technical report. By filing such a report with Canadian regulators we can upgrade our current indicated resource to a probable reserve. In the USA I don't believe the SEC would allow us to use the word reserve without permits in place for development and financing completed. In Canada, if we have strong expectation that we can obtain permits (which we do) and financing (looks good in current markets) and with a technical report demonstrating financial and technical feasibility we can use the word reserve.

2. As far as funding. If current prices remain in place we would expect to have sufficient cash on hand by the middle of 2005 to begin construction. I would suspect that we will at some point go to the equity markets or debt markets to obtain additional funds as you suggested but we will wait until feasibility study is complete and permitting is advanced.

I hope these comments help.

Regards,

Jon Douglas
CFO
Northgate Exploration Limited.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News