Attention Business Editors:
Northgate files final universal base shelf prospectus
TSX: NGX
AMEX: NXG
VANCOUVER, June 6 /CNW/ - Northgate Minerals Corporation (TSX: NGX, AMEX:
NXG) today reported that the company has filed a final short form universal
base shelf prospectus with the Securities Commissions in each of the provinces
and territories of Canada and a corresponding registration statement has been
filed with and declared effective by the United States Securities and Exchange
Commission. The final shelf prospectus will allow Northgate to make offerings
of debt securities, common shares, warrants to purchase common shares and
warrants to purchase debt securities, share purchase contracts and share
purchase or equity units (all of the foregoing, collectively, the
"Securities") or any combination thereof up to an aggregate offering size of
Cdn$250,000,000 over a 25-month period. Securities may be offered separately
or together, in amounts, at prices and on terms to be determined based on
market conditions at the time of sale and set forth in an accompanying shelf
prospectus supplement. The net proceeds from the sale of the Securities will
be used to fund capital expenditures, development and construction
expenditures, exploration activities, potential future acquisitions and for
general corporate purposes.
This news release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of these
Securities in any state in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the securities laws
of any such state.
A copy of the final shelf prospectus may be obtained from the SEDAR
website at www.sedar.com and also may be obtained from the Company by
directing a request by email at ngx@northgateminerals.com or by mail at 815
Hornby Street, Suite 406, Vancouver, British Columbia, Canada, V6Z 2E6,
telephone 1-604-681-4004.
NORTHGATE MINERALS CORPORATION is a mid-tier gold and copper producer
with mining operations, development projects and exploration properties in
Canada and Australia. The company is forecasting 400,000 ounces of unhedged
gold production in 2008 and is targeting growth through further acquisitions
in stable mining jurisdictions around the world. Northgate is listed on the
Toronto Stock Exchange under the symbol NGX and on the American Stock Exchange
under the symbol NXG.
FORWARD-LOOKING STATEMENTS:
This news release contains certain "forward-looking statements" and
"forward-looking information" as defined under applicable Canadian and U.S.
securities laws. Forward-looking statements generally can be identified by the
use of forward-looking terminology such as "may," "will," "expect," "intend,"
"estimate," "anticipate," "believe," or "continue" or the negative thereof or
variations thereon or similar terminology. Forward-looking statements are
necessarily based on a number of estimates and assumptions that are inherently
subject to significant business, economic and competitive uncertainties and
contingencies. Certain of the statements made herein by Northgate Minerals
Corporation ("Northgate") including those related to future financial and
operating performance and those related to Northgate's future exploration and
development activities, are forward-looking and subject to important risk
factors and uncertainties, many of which are beyond the Corporation's ability
to control or predict. Known and unknown factors could cause actual results to
differ materially from those projected in the forward-looking statements. Such
factors include, among others: gold price volatility; fluctuations in foreign
exchange rates and interest rates; impact of any hedging activities;
discrepancies between actual and estimated production, between actual and
estimated reserves and resources and between actual and estimated
metallurgical recoveries; costs of production, capital expenditures, costs and
timing of construction and the development of new deposits; and, success of
exploration activities and permitting time lines. In addition, the factors
described or referred to in the section entitled "Risk Factors" of Northgate's
base shelf prospectus, "Risk Factors" of Northgate's revised Annual
Information Form (AIF) for the year ended December 31, 2007 or under the
heading "Risks and Uncertainties" of Northgate's 2007 Annual Report, each of
which is available on SEDAR at www.sedar.com, should be reviewed in
conjunction with this document. Accordingly, readers should not place undue
reliance on forward-looking statements. The Corporation does not undertake any
obligation to update publicly or release any revisions to forward-looking
statements to reflect events or circumstances after the date of this document
or to reflect the occurrence of unanticipated events, except in each case as
required by law.
%CIK: 0000072931
For further information: Ms. Keren R. Yun, Director, Investor Relations, Tel:
(416) 216-2781, Email: ngx@northgateminerals.com
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Northgate Minerals Corporation
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PRODUCER |
CODE : NGX.TO |
ISIN : CA6664161024. |
CUSIP : 666416102 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Northgate Minerals is a gold and copper producing company based in Canada. Northgate Minerals develops gold, copper and silver in Canada, and holds various exploration projects in Canada. Its main assets in production are STAWELL MINE and FOSTERVILLE MINE in Australia and KEMESS SOUTH in Canada, its main asset in development is YOUNG - DAVIDSON in Canada and its main exploration properties are BOULEVARD, KEMESS UNDERGROUND, MATACHEWAN MINE and AWAKENING GOLD in Canada. Northgate Minerals is listed in Canada. Its market capitalisation is CA$ 943.3 millions as of today (US$ 928.4 millions, € 655.4 millions). Its stock quote reached its lowest recent point on January 28, 2000 at CA$ 0.60, and its highest recent level on May 12, 2006 at CA$ 5.29. Northgate Minerals has 254 245 479 shares outstanding. |