NGX vs SANGX is a higher cost co with the same sort of mine in BC.
FYI:
Attention Business/Financial Editors:
A third large gold-copper porphyry system discovered at Kemess
VANCOUVER, July 26 /CNW/ - (All figures in US dollars except where noted)
- Northgate Minerals Corporation (TSX: NGX; AMEX: NXG) today reported cash
flow from operations of $43,685,000 or $0.17 per diluted common share and net
earnings of $8,647,000 or $0.03 per diluted common share for the second
quarter of 2007.
SECOND QUARTER HIGHLIGHTS
- Production of 65,999 ounces of gold and 14.8 million pounds
of copper
- Net cash cost of production of $35 per ounce of gold
- Exploration drilling on targets identified in a deep
penetrating induced polarization (IP) survey in 2006 has
discovered two new zones of mineralization east of the Kemess
North deposit
- Ora Zone: Hole KH-07-04 returned 441 metres (m) of
0.38 grams per metric tonne (g/t) gold and 0.39% copper
- Altus Zone: Holes KH-07-03 and KH-07-05 returned 155 m and
128 m, respectively , averaging 0.23 g/t gold and
0.3% copper
- The underground exploration ramp at the Young-Davidson
property progressed by 560 m during the quarter and is now
25% complete; the No. 3 shaft was dewatered down to the
180-m level