Northgate Minerals Corp (NXG)

[specsingold]

Onexoco....the EPS were not great, but ok…...if you cut through the tax bs, they came in at $29 mil which was about the same as Q2. The real bad news was the $17 mil net cost of pushing back the KS wall for safety reasons. That project will have the knock-on effect of delaying the mining of higher grade ore into 08 and 09 rather than 07. This will be offset somewhat by lower 07 concentrate processing terms to be negotiated in January.

Some good news…..by year-end we should know the updated resource estimate on YD…..get the first assay results from the large newly found target to the east of KN…….and get a board decision on whether to mine the ore at the eastern end of the KS open pit. This could possibly extend the KS mine life by up to a year.....Spec