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Wednesday, 27th October 2004 (4286 views)

Northgate Minerals has released its quarterly results today, reporting a net income of $10 million for the period and gold production of 79,311 ounces.<BR/><BR/>The company's Kemess mine performed particularly well and now additional production is planned for the North Area of the site.<BR/><BR/>Ken Stowe, President and CEO, commented: "During 2004, Northgate has posted record cash flow and earnings as a result of consistent operating results at the Kemess mine, and buoyant prices for gold."<BR/><BR/>"We have launched several new continuous improvement initiatives to improve the operating efficiency of our mill and mine…With three quarters of 2004 behind us, I am confident that we will reach this year's production target of 300,000 ounces of gold," he added.<BR/><BR/>Positive results and drilling were also reported at the company's Nugget Zone, Brenda property and Hyland Gold.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3721724"/>

 

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