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 49.57

-2.3%

3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Northern Marlin who started this subject	5/9/2004 8:32:24 PM
From: Northern Marlin	of 148

CFO Jon Douglas provided answers to my questions about hedged ounces, construction paid from cash flow, and the possibility of warrants being exercised early. His reply is in italics: Hello Mr Jones, Answers imbedded in questions below: Have a good weekend. Best Regards Jon Douglas -------------------------------------------------------------------------------- From: Phil Jones Sent: Saturday, May 08, 2004 9:14 AM To: Jon Douglas Subject: Re: Questions for 5/10/04 conference call Greetings Mr. Douglas, I've read the two Friday night press releases and I have several questions as a result: How many ounces of the hedge were reduced in 1st Q 04? 3,750 ounces How much of Kemess North construction costs can be paid from cash flow? It appears to me that the estimated $64 million for 2005 could be handled and still allow funds for exploration. Depends on prices over the next 18 months. At current prices I would expect at least 50 million would be covered. Remember we have larger payments on our project loans in 2005/06. If those 39.7 million outstanding warrants were exercised before expiration that would take care of the balance of the construction costs. Is it possible for me to learn of any large holders of those warrants? I've been using 240 million shares in my models for 2005 and beyond anyway, since I expect those warrants to be in the money. But it would be useful to know if management intends to issue shares during 2005-2006 over and above those outstanding warrants. Sadly, I do not believe those warrants will be exercised until the very last minute as there is no economic reason to do so that I am aware of.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next