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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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To: Claude Cormier who wrote (66174)	7/14/2009 8:36:23 PM
From: loantech	Read Replies (1) of 78409

Speaking of a copper by product producer I am not sure about these numbers. IRR seems a bit low? And big start up costs? Northgate Minerals Announces Positive Young-Davidson Pre-Feasibility Study Ticker Symbol: C:NGX U:NXG <<2.8 Million Ounces of Gold Added to Reserves VANCOUVER, July 14 /CNW/ - (All figures in US dollars except where noted) Northgate Minerals Corporation (TSX: NGX, NYSE Amex: NXG) is pleased to announce positive results from the Pre-feasibility Study ("Pre-feasibility") on its 100% owned Young-Davidson project in Matachewan, Ontario. The Pre-feasibility was completed by AMEC Americas Limited ("AMEC"), an independent and internationally-recognized engineering firm, which also has been commissioned to complete a Feasibility Study on the project by year-end. Highlights of the Pre-feasibility The Pre-feasibility incorporates the measured and indicated gold resource of 3.3 million ounces that was announced in December 2008(1). Highlights of the Pre-feasibility presented below are based on a gold price of $725 per ounce and an exchange rate of US$/Cdn$0.85: Proven and probable reserves of 2.8 million ounces contained gold - 15-year mine-life at a mill throughput of 6,000 tonnes per day - Average annual production of over 170,000 ounces of gold at a net cash cost of $333 per ounce. After the first two years of open pit production, average annual production for the next ten years will increase to over 190,000 ounces of gold at a net cash cost of $326 per ounce - Initial capital cost of $293 million - Sustaining capital costs of $159 million during the life of the mine - Pre-tax operating cash flow of $548 million, net present value ("NPV") 5% of $233 million, with an Internal Rate of Return ("IRR") of 13.2%

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