DALLAS, Feb. 9, 2011 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Northgate Minerals Corp. (USA) (AMEX:NXG). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
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Northgate Minerals Corp. (NXG) is a gold and copper producer with operations, development projects and exploration properties in Canada and Australia. The Company's assets are the Kemess mine, a low-grade open pit mine, which processes its ore through a flotation mill circuit in British Columbia, Canada (Kemess); Fosterville, an underground mine in Australia, which recovers gold through a bacterial oxidation, heated leach, flotation and carbon-in-leach circuit (Fosterville); Stawell, an open pit and underground mine in Australia, which recovers gold through a carbon-in-leach circuit following sulphide flotation (Stawell); and Young-Davidson, an advanced development project located near the town of Kirkland Lake, Ontario (Young-Davidson). As at December 31, 2009, Kemess, Fosterville, Stawell and Young-Davidson amounted to total reserves of 3,754,296 ounces of contained gold.
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In the report, the analyst notes:
"Canadian gold miner NXG recently announced it has achieved gold production of 272,712 ounces for the full year 2010, after reporting gold production of 66,077 ounces in the last three months of last year. The Company reported an estimated average net cash cost of production of $655 per ounce for the fourth quarter, bringing the full year cash cost to $662 per ounce."
"NXG announced that it is forecasting fiscal 2011 gold production in the range of 195,000 to 205,000 ounces at an average net cash cost of $810 to $855 per ounce from its three operating mines."
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