Northgate Minerals Corp. - 2007 PRODUCTION PLAN -
Gold Production 285,000 ounces
Copper Production 74.5 million pounds
Silver Production 385,000 ounces
Cash Cost negative US$10 / ounce *
*Assuming the copper price averages $2.50 in 2007
NGX/NXG - Kemess South Mine - Performance 2n Q. 2007 -
The Kemess mine posted gold and copper production -
Gold of 65,999 ounces Au -
Net cash cost of production of $35 per ounce of gold -
also produced -
Copper 14.8 million pounds Cu -
respectively in the second quarter of 2007.
From a financial point of view, the second quarter -
was also very successful as -
the Kemess mine generated over $43 million -
in operating cash flow and our -
cash balance increased to over > $317 million.
Northgate's revenue in the second quarter of 2007 was -
Total $80,878,000.00 -
The Corporation recorded net interest income of $4,464,000.--
in the second quarter of 2007 compared with
net interest income of $702,000 in the corresponding quarter
of 2006.
The dramatic increase in interest income was the result of
substantial increases in the Corporation's cash position
due to strong operating cash flow and the exercise of
share purchase warrants in December 2006, which brought
$99,998,000.- into Northgate's treasury.
Got NXG / NGX - Northgate Minerals Corp. -
Gold Mine Safety? -
NXG Lowest Gold cost Au producer in the industry? -
Imo. Tia.
God Bless
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