Northgate Minerals Corp (NXG)

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If you look at the end of the first quarter AZK's book value $0.78 per share with a net loss $.04 on total revenue $747,000 and 144M outstanding shares.
They have NO REVENUE PRODUCING PROPERTIES AT THIS TIME, therefore can we conclude that the lost revenue of $747MM plus borrowing costs will increase the loss by say 50% or $.06/share 2nd, 3rd, and 4th quarter would be (.18) for a net book value of $.60 at
year end. Bargin basement prices in the sub $2 range.

AZK will have to produce 30K oz, in Q1 07, at greater than $750/oz to have a positive cash flow. If not their share price will be in the low $1 range