 Northgate acquired the Fosterville Gold Mine in February 2008. Since the acquisition, Northgate has made a number of improvements at the operation, which will increase production and significantly lower costs. A summary of Fosterville's production for 2008 is shown below:
|
Q1 |
Q2 |
Q3 |
Q4E |
2008E |
|
| Gold production (ounces) |
10,440 |
14,630 |
15,491 |
23,000 |
63,000 |
|
Net cash cost ($/oz) |
1,190 |
1,150 |
940 |
445 |
820 |
|
|
* Net Cash Cost for Q4 and full year 2008 assumes exchange rate of A$/US$0.65. |
|