NGG GOLD PRODUCTION LOST US$1,227,600THE ONLY THING CONSISTANT WITH NGG IS THEIR PREDICTIONS ARE ALWAYS WAY OFF! ALWAYS SOME EXCUSE! JUST WATCH EXPENSES TO CONTINUE EATING UP ANY REVENUE!
THIS COMPANY HAS EARNED 130 oz + 300 oz + 302 oz = 732 oz!
732 oz X $700.00/oz =
US$512,400
EXPENSES:
SOURCE: NR Feb 04, 2008 14:47 Mine cash costs in the October to December period were fairly constant at approximately US$450,000 per month. In January they are expected to be of the order of approximately US$390,000 due to the Christmas/New Year shut down period. We now have sufficient experience to estimate that the mine cash costs will increase to an average of US$500,000 per month, due to additional reagent usage, as gold production increases.
OCT = US$450,000
NOV = US$450,000
DEC = US$450,000
JAN = US$390,000
TOTAL COST = US$ 1,740,000
SOURCE: Commercial Gold Production at Sinivit and Imwauna System Extended - 29 November, 2007
The first gold sales were realized during the third quarter during plant commissioning from Vats 1A and 1C. These were small vats constructed specifically for commissioning. Approximately 130 ozs were produced and sold.
SOURCE: Sinivit - 380 Ounces Gold Dore Poured Early December - 13 December, 2007
Vancouver – 13th December, 2007. New Guinea Gold Corporation (“NGG” or the “Company”) advises that the first commercial gold pour was completed in the first week of December. 380 ozs of gold dore was poured and based on assays of previous pours, this dore is expected to contain approximately 300 ozs gold.
Leaching was initially run on a 12 hour/day basis, but this has now moved to a 24 hour/day operation which will increase the rate of gold leaching from the Vat. In our release of 29th November 2007 it was predicted that 500-700ozs would be available by early December – this will now be achieved at the end of December with the additional gold poured in early January.
SOURCE: 302ozs Gold Produced in January at Sinivit Mine, Papua New Guinea
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 4, 2008) - New Guinea Gold Corporation (NGG) (TSX VENTURE:NGG)(FRANKFURT:NE8) report that 302ozs of gold were produced and sold in January 2008.