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Gold/Mining/Energy : Northgate Exploration Limited - TSX: NGX; AMEX: NXG
NXG 50.72+1.3%Nov 3 3:59 PM EST
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To: Northern Marlin who wrote (27)5/8/2004 7:43:43 AM
From: Northern Marlin   of 148
 
The reason for the delay in the feasibility study is described in the following excerpt from the press release on the revised pre-feasibility study.

...the Kemess North project team undertook detailed engineering and design studies and capital cost estimates for the infrastructure required to bring the Kemess North deposit into production. During this process, pump testing determined that the crushed ore pipeline envisioned in the September 2003 pre-feasibility study would require both the SAG and ball mills at Kemess South be relocated to Kemess North to reduce the ore to a finer size prior to entering the pipeline. The additional capital for this change was substantial, so the team went back to the original conveyor/tunnel concept to transport ore to the Kemess mill. As a result, engineering work on the tunnel/conveyer system is only at a pre-feasibility study standard, necessitating a delay in the release of the final feasibility study on Kemess North.

I'm fine with this explanation. The result appears to be a cheaper operating cost while Kemess South is still in operation and a higher operating cost when Kemess North is the only mine in production (2010-2020).

Phil
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