New Dawn Mining Corp.

Published : April 13th, 2011

Announcement

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Record Quarterly Consolidated Gold Sales of US$7.387 Million for the Quarter Ended March 31, 2011, as compared to US$3.801 Million for the Quarter Ended March 31, 2010

 

 

94.3% Increase in Quarterly Consolidated Gold Sales

 for the Quarter Ended March 31, 2011, as compared to the Quarter Ended March 31, 2010

 

83.4% Increase in Quarterly Consolidated Gold Production

 for the Quarter Ended March 31, 2011, as compared to the Quarter Ended March 31, 2010

 

 

Toronto, Ontario, April 13, 2011 - New Dawn Mining Corp. (TSX: ND) ("New Dawn" or the "Company") reported consolidated gold production of 6,226 ounces of gold produced (5,853 ounces attributable to New Dawn, after adjusting for the minority interests' share of gold production from the Central African Gold properties) for the quarter ended March 31, 2011, as compared to 3,395 ounces of gold produced (3,395 ounces attributable) for the quarter ended March 31, 2010, an increase of 83.4% (72.4% increase on an attributable basis).

 

As compared to the production output of 4,808 ounces of gold produced (4,577 ounces attributable) for the previous quarter ended December 31, 2010,consolidated gold production for the quarter ended March 31, 2011 increased by 29.5% (27.9% increase on an attributable basis, after adjusting for the minority interests' share of gold production from the Central African Gold properties).

 

As a result of New Dawn having made an investment in Central African Gold Plc ("CAG") in June 2010, in which it acquired an 88.7% controlling interest, New Dawn has consolidated for accounting purposes the operations of CAG from June 16, 2010.  Since June 2010, New Dawn has increased its interest in CAG to approximately 96.4%.   

 

Consolidated gold sales for the quarter ended March 31, 2011 totalled US$7,386,798 (US$6,918,344 after adjusting for the minority interests' share of gold sales from the Central African Gold properties) at an average sales price per ounce of gold of US$1,386, as compared to US$3,801,480 (US$3,801,480 attributable) for the quarter ended March 31, 2010 at an average sales price per ounce of gold of US$1,109, an increase of 94.3% (82.0% increase on an attributable basis).

 

Consolidated gold sales for the quarter ended March 31, 2011 increased by 14.4% (11.9% increase on an attributable basis), as compared to gold sales for the previous quarter ended December 31, 2010 of US$6,458,735 (US$6,184,661 attributable).

 

100% of sale proceeds were received in US dollars.

 

At March 2011 month-end, an additional 1,876 ounces of gold awaited export documentation for sale in South Africa, and will be included in April 2011 sales.

 

The Company will file its unaudited consolidated financial statements and related materials for the fiscal quarter ended March 31, 2011, and report its consolidated results of operations for such period, on or before the filing deadline of May 16, 2011.

 

About New Dawn:

 

New Dawn is a Zimbabwe-focused junior gold company that is currently expanding its consolidated gold production to 50,000 to 60,000 ounces of gold within the next 18 to 24 months.  New Dawn targets further increasing gold production to 100,000 ounces of annualized gold production within the next four to five years.   New Dawn owns 100% of the Turk/Angelus mine complex in Zimbabwe.  New Dawn also owns a controlling interest in Central African Gold ("CAG"), through its acquisition of an 89% controlling interest in CAG in June 2010 (subsequently increased to approximately 96.4%).  CAG owns substantial gold mining assets and operations in Zimbabwe, as well as extensive prospective acreage.  In total, New Dawn operates three significant gold camps in Zimbabwe containing six mines, three of which are currently producing gold and in the process of expanding production. 

 

Additionally, New Dawn, with its first mover advantage, is actively exploring on highly prospective ground employing modern exploration techniques and deploying capital in Zimbabwe, a country that is proven to be geologically rich, highly prospective, and significantly under explored.

 

New Dawn, with its large gold resource, existing production facilities and current exploration efforts, is well on the path to becoming a leading mid-tier gold mining company in Zimbabwe, active in both gold production and gold exploration.

 

The Government of Zimbabwe is in the process of implementing an indigenisation policy wherein all businesses are to be 51% owned by indigenous Zimbabweans.  New Dawn is continuing to discuss the outlines of its indigenisation plan with the Government of Zimbabwe, the objective of which is the design and implementation of a plan that both complies with the relevant regulations and allows the Company to pursue its goal of becoming a leading mid-tier gold mining company in Zimbabwe.  The Company will provide further information to shareholders with respect to its indigenisation plan as and when such discussions have been concluded, or when developments otherwise warrant.

 

The TSX has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

 

For Further Information:

Investor Relations Contact:  Richard Buzbuzian +1 416.585.7890

 

President and Chief Executive Officer:  Ian R. Saunders +1 416.585.7890

 

Visit us on the internet:  http://www.newdawnmining.com or

 

Email us at:  info@newdawnmining.com

 

Special Note Regarding Forward-Looking Statements:  Certain statements included or incorporated by reference in this news release, including information as to the future financial or operating performance of the Company, its subsidiaries and its projects, constitute forward-looking statements.  The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements.  Forward-looking statements include, among other things, statements regarding targets, estimates and assumptions in respect of gold production and prices, operating costs, results and capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates.  Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies.  Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company.  Such factors include, among others, risks relating to reserve and resource estimates, gold prices, exploration, development and operating risks, political and foreign risk, uninsurable risks, competition, limited mining operations, production risks, environmental regulation and liability, government regulation, currency fluctuations, recent losses and write-downs and dependence on key employees.  See "Risk Factors" in the Company's Annual Information Form - 2010.  Due to risks and uncertainties, including the risks and uncertainties identified above, actual events may differ materially from current expectations.  Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein.  Forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise.

 

 


This email was sent to .com by rbuzbuzian@newdawnmining.com |  
Update Profile/Email Address | Instant removal with � | Privacy Policy.
New Dawn Mining Corp. | 116 Simcoe Street | Suite 301 | Toronto | Ontario | M5H 4E2 | Canada
Data and Statistics for these countries : Canada | South Africa | Zimbabwe | All
Gold and Silver Prices for these countries : Canada | South Africa | Zimbabwe | All

New Dawn Mining Corp.

EXPLORATION STAGE
CODE : ND.TO
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

New Dawn Mining is a gold exploration company based in Canada.

New Dawn Mining holds various exploration projects in USA.

Its main exploration properties are ANGELUS and TURK in Zimbabwe, BLUE DOT in South Africa and BLUE DOT in USA.

New Dawn Mining is listed in Canada. Its market capitalisation is CA$ 5.7 millions as of today (US$ 5.5 millions, € 4.1 millions).

Its stock quote reached its highest recent level on September 17, 2010 at CA$ 2.29, and its lowest recent point on October 11, 2013 at CA$ 0.06.

New Dawn Mining has 45 610 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of New Dawn Mining Corp.
2008 Annual report
2007 Annual report
Project news of New Dawn Mining Corp.
10/17/2013Reports Quarterly Consolidated Gold Production and Sales
1/23/2012Reports Record Sales and Gold Production
6/6/2011Increases its Ownership in Central African Gold to 100%
Corporate news of New Dawn Mining Corp.
1/21/2014AnnouncementCc:
1/3/2014AnnouncementCc:
12/6/2013AnnouncementCc:
11/19/2013AnnouncementCc:
11/14/2013Announcement
10/23/2013Announcement
10/11/2013Announcement
10/11/2013Receives Approval for its Indigenisation Plan
9/26/2013Moves Date for Special Meeting of Shareholders; Changes Fisc...
8/30/2013Shuts Down its Dalny Mine in Zimbabwe
5/14/2013Announcement
5/14/2013Reports Results for the Quarter Ended March 31, 2013
4/18/2013Announcement
2/14/2013Reports Results for the Quarter Ended December 31, 2012
1/29/2013Announcement
1/29/2013Reports End of Work Stoppage at its Dalny Mine in Zimbabwe
1/22/2013Quarterly Consolidated Gold Sales of US$16.6 Million for the...
1/16/2013Announcement
1/16/2013Reports Work Stoppage at Dalny Mine, Zimbabwe
1/16/2013Reports Work Stoppage at Dalny Mine, Zimbabwe
10/23/2012Announcement
10/4/2012Reports Court Approval to Acquire All Outstanding Minority S...
9/25/2012Announcement
5/15/2012Announcement
4/17/2012Announcement
3/13/2012Q1 Earnings Announcement
3/8/2012Announcement
2/24/2012Announcement
1/9/2012Announcement
9/1/2011Announcement
9/1/2011Announces Further Developments Resulting from Recent Discuss...
8/12/2011Announcement
7/14/2011Responds to Recent Erroneous Press Reports
5/16/2011Reports Net Income of $0.02 per share in Q2
4/27/2011Provides Update to Shareholders on its Zimbabwe Indigenisati...
4/19/2011Provides Corrections to April 13, 2011 Press Release
4/13/2011Announcement
3/28/2011Minimum Requirements for Indigenisation Implementation Plans
2/14/2011s from New Dawn Mining Corp.
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (ND.TO)
0.125+0.00%
TORONTO
CA$ 0.125
11/20 15:48 -
0%
Prev close Open
0.130 0.125
Low High
0.125 0.125
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.125 -3.85%
Volume 1 month var.
3,000 -3.85%
24hGold TrendPower© : -28
Produces
Develops
Explores for Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 11/6/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.66-0.71%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 12.22-0.33%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.52-0.76%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.65+0.38%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 16.16-0.46%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+4.26%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.22+2.38%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.90+1.33%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 52.72+0.03%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+5.56%Trend Power :