Northgate Minerals Corporation Confirms Discussions with Dioro Exploration NL
VANCOUVER, July 20 /CNW/ - Northgate Minerals Corporation (TSX: NGX, NYSE Amex: NXG) has confirmed today that it is currently engaged in advanced discussions with the Board of Directors of Dioro Exploration NL ("Dioro") regarding a potential material transaction. Northgate will provide further updates on the status of its discussions with the Dioro Board as appropriate and in accordance with applicable regulations and its internal disclosure policies.
A press release dated July 20, 2009 has been issued by Dioro in conjunction with the potential material transaction and is available on Dioro's website at www.dioro.com.au.
About Dioro:
Dioro Exploration NL is an integrated gold producer listed on the Australian Securities Exchange (ASX) and Toronto Stock Exchange (TSX). Further information regarding Dioro is available at www.dioro.com.au.
About Northgate:
Northgate Minerals Corporation is a gold and copper producer with mining operations, development projects and exploration properties in Canada and Australia. The company is forecasting record gold production of over 390,000 ounces in 2009 and is targeting growth through further acquisition opportunities in stable mining jurisdictions around the world. Northgate is listed on the TSX under the symbol NGX and on the NYSE Amex under the symbol NXG.
Forward-Looking Statements:
This Northgate press release contains "forward-looking information", as such term is defined in applicable Canadian securities legislation, concerning Northgate's future financial or operating performance and other statements that express management's expectations or estimates of future developments, circumstances or results. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "believes", "anticipates", "budget", "scheduled", "estimates", "forecasts", "intends", "plans" and variations of such words and phrases, or by statements that certain actions, events or results "may", "will", "could", "would" or "might" "be taken", "occur" or "be achieved". Forward-looking information is based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Northgate operates, are inherently subject to significant operational, economic and competitive uncertainties and contingencies. Northgate cautions that forward-looking information involves known and unknown risks, uncertainties and other factors that may cause Northgate's actual results, performance or achievements to be materially different from those expressed or implied by such information, including, but not limited to gold and copper price volatility; fluctuations in foreign exchange rates and interest rates; the impact of any hedging activities; discrepancies between actual and estimated production, between actual and estimated reserves and resources or between actual and estimated metallurgical recoveries; costs of production; capital expenditure requirements; the costs and timing of construction and development of new deposits; and the success of exploration and permitting activities. In addition, the factors described or referred to in the section entitled "Risk Factors" in Northgate's Annual Information Form for the year ended December 31, 2008 or under the heading "Risks and Uncertainties" in Northgate's 2008 Annual Report, both of which are available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this press release. Although Northgate has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information in this press release is made as of the date of this press release, and Northgate disclaims any intention or obligation to update or revise such information, except as required by applicable law.
For further information: Ms. Keren R. Yun, Director, Investor Relations, Tel: (416) 363-1701 ext. 233, Email:
ngx@northgateminerals.com, Website:
www.northgateminerals.com
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VanEck Vectors Global Alternative Energy ETF
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PRODUCER |
CODE : NGX.TO |
ISIN : CA6664161024. |
CUSIP : 666416102 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Northgate Minerals is a gold and copper producing company based in Canada. Northgate Minerals develops gold, copper and silver in Canada, and holds various exploration projects in Canada. Its main assets in production are STAWELL MINE and FOSTERVILLE MINE in Australia and KEMESS SOUTH in Canada, its main asset in development is YOUNG - DAVIDSON in Canada and its main exploration properties are BOULEVARD, KEMESS UNDERGROUND, MATACHEWAN MINE and AWAKENING GOLD in Canada. Northgate Minerals is listed in Canada. Its market capitalisation is 176.0 millions as of today (US$ 173.2 millions, € 122.3 millions). Its stock quote reached its lowest recent point on January 28, 2000 at 0.60, and its highest recent level on May 12, 2006 at 5.29. Northgate Minerals has 47 442 200 shares outstanding. |