BRITISH COLUMBIA – The Kemess mine near Smithers is expected to produce 320,000 oz of gold this year, according to owner NORTHGATE MINERALS of Vancouver. Copper production from the mine will be 84.6 million lb. The cash cost of gold production is forecast to be US$170/oz and of copper US$1.70/lb (net of by-product credits).
Fourth quarter 2005 results were even better. A record-setting 24.7 million lb of copper and near-record 94,405 oz of gold (at a cash cost of US$59/oz) were produced.
Northgate gave full-year 2005 production numbers as 279,962 oz of gold and 73,722 lb of copper. Audited financial results for last year will be available on Feb. 23, 2006, and a quarterly investor conference call and webcast (see www.NorthgateMinerals.com for details) is scheduled for the following day.