Since 2000, Northgate has invested est. appr. $10 million in exploration and development to expand its resources base with the Kemess North Project by over 800% -
On the basis of a feasibility study completed in the third quarter of 2004, Northgate moved 4 million ounces of the resources at Kemess North - into the proven and probable reserve category.
A NI 43-101 compliant technical report was filed on SEDAR in early June supporting - the new reserve designation .
The Kemess South Mine - were about $1 billion been invested in the infrastructure etc.
the Kemess North investment only represent about 1% of NXG Kemess est. value structure -
but still its a very vice investment - of $10 mil. to outline the Ore values below -
Gold 5,054,901 ounce x $665/oz appr. = $3,360,000,000.00 -
Copper 1,678,168,000 lb of Cu x $3.50/lb appr. = $5.873 billion -
NXG - Kemmess North - total ore value est. appr. = $9 billion plus new drilling discoveries -
NXG bottom line is -
1. that the market value of Kemess North - will only increase in real value with time -
2. if NXG don't develop the $9 bil. resource? - someonelse from China, India etc. standing in line - knocking on NXG doors to get a foot in ? -
The permits can add another $100 bil. to BC economy or scare away the $100s of billion of future investment money - to go to more business friendly countries -
Northgate mining - Incorporated 1919 in Ontario chart. - one of the oldest mining companies in Canada - who had the experience to survive all 666 bolshevikz - terrorz manipulations of American markets - in the last century - with Excellence -
NXG - have all doors open all over the world - all countries want an old experience mining company with the excellent reputation NXG has - to do mining which makes great revenues for all governments - all over the world and its 1000s of small expl. mining comp. who want a giant like NXG with the cash to develop their mining resources etc. -
FYI. -- 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
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? -
Note - the most important! - NXG Lowest Gold cost Au producer in the industry? -
"Northgate Minerals Corp. - 2007 PRODUCTION PLAN - Gold Production 285,000 ounces Copper Production 74.5 million pounds"
Apparently these numbers were revised downwards in the cc.
According to TD
Northgate now expects to produce 276,000 ounces of gold and 68.5 million pounds of copper at a cash operating cost of $15 per gold ounce, during 2007 - this is down from 285,000 ounces gold and 72.8 million pounds copper previously.