Agoracom Blog

New Dawn’s Turk Mine in Zimbabwe Increases July 2009 Gold Output to 1,016 Ounces

Posted by AGORACOM at 12:00 PM on Friday, August 14th, 2009

New Dawn Mining Corp. 3rd Quarter Results Provide Positive Cash Flow

Highlights: August 12th

New Dawn Mining Corp. (TSX: ND) reported that gold production at New Dawn’s Turk Mine in Zimbabwe during the month of July 2009 increased to 1,016 ounces or 31.6 kg’s compared to 937 ounces or 29.15 kg’s produced in June 2009, an increase of 8.4% month-over-month.
Gold sales for the month of July totalled US$1,037,000 compared to
US$780,000 in June 2009, an increase of 32.9% month-over-month. 100% of New Dawn’s gold sales from the Turk Mine were received and
collected in US dollars.
“Production at the Turk Mine has increased steadily for the past four
months and we are well on our way to realizing our first production target of 1,200 ounces of gold per month by October-November 2009,” commented Ian Saunders, President and CEO. “We are also evaluating opportunities to realize cost efficiencies to reduce overall cash costs where ever possible. New Dawnis well positioned to take advantage of opportunities in Zimbabwe, with ahighly competitive capital and operating cost structure and a team ofprofessionals focused on building shareholder value through internal and external growth.”

  • Gold production for July 2009 was 1,016 ounces or 31.6 kg’s vs. 937 ounces or 29.15 kg’s produced in June 2009

  • Gold sales of US$1,037,000 in July 2009 vs. $780,000 in June 2009

  • 100% of gold sales received and collected in US Dollars

Highlights: August 14th

3rd Quarter Results Provide Positive Cash Flow

HIGHLIGHTS:

  • US$0.016 per basic share or US$464,003 of operating income before
    other income/expense and future taxes
  • US$0.025 per basic share or US$719,644 of income before non-cashexpenses and future taxes (non-GAAP)
  • US$2,865,285 of revenues from the sale of 3,122 ounces of gold at an average sale price of $917 per of2,931 ounces of gold produced during the quarter ended June 30, 2009
  • Cash costs of US$503 per ounce during the quarter ended June 30, 2009 (cash costs are a non-GAAP measure)
  • 100% of gold sales received and collected in US dollars
  • Company re-affirms its first production rate target of 3,600 ounces
    of gold per quarter by Fiscal Q1 2009/2010
  • Future production profile of 35,000 to 50,000 ounces of gold per annum at Turk Mine

“As part of our strategic plan over the past couple of years, we elected
to grow our asset base by over-developing the Turk and Angelus Mine complex
relative to our production profile. We installed an upgraded production
infrastructure that is now ready to be put into operation, which will allow us
to mine over 11 years of in place reserves and to progressively increase our
production levels,” commented Ian Saunders, President and CEO. “The Turk Mine is far up the value curve, relative to its current production profile, and we
are geared for sustainable growth. With production at the Turk Mine having
resumed, we are just beginning to see the positive results from these efforts.

New Dawn Mining Profile

New Dawn Mining IR Hub

One Response to “New Dawn’s Turk Mine in Zimbabwe Increases July 2009 Gold Output to 1,016 Ounces”

  1. […] meaningful revenues from current gold production. Specifically, in mid-August, the company issued production, revenue and cash flow numbers that demonstrate great progress.  Here are the […]