UPDATE 1-Northgate Minerals exceeds Q1 gold production forecast

Wed Apr 15, 2009 10:50pm BST
 
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* Q1 consolidated gold production of 107,477 oz

* Q1 consolidated copper production of 15 mln pounds

April 15 (Reuters) - Gold and copper miner Northgate Minerals Corp (NGX.TO) said it exceeded its quarterly gold production forecast, helped by higher-than-expected ore grades and metal recoveries at its Australia-based Kemess mine.

The company, which had forecast 99,000 ounces of gold production for the first quarter, said gold production rose 22 percent from last year.

The average net cash cost production for the quarter was $392 per ounce of gold.

Shares of the Vancouver-based company closed at C$1.54 Wednesday on the Toronto Stock Exchange. (Reporting by Isheeta Sanghi in Bangalore; Editing by Anne Pallivathuckal) ((isheeta.sanghi@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: isheeta.sanghi.thomsonreuters.com@reuters.net))

 

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