Wednesday, 27th October 2004 (3041 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.

The company's Kemess mine performed particularly well and now additional production is planned for the North Area of the site.

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."

"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.

Positive results and drilling were also reported at the company's Nugget Zone, Brenda property and Hyland Gold.

 

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