Chart usGOLD   Chart usSILVER  
 
Food for thought
The great nations have always acted like gangsters, and the small nations like prostitutes
Stanley Kubrick  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1366.003.20
Silver 22.14-0.07
Platinum 1456.50-4.00
Palladium 739.16-3.09
WORLD MARKETS
DOWJONES 15307-80
NASDAQ 3463-39
NIKKEI 15873245
ASX 5142-14
CAC 40 405115
DAX 853159
HUI 2573
XAU 97-3
CURRENCIES (€)
AUS $ 1.3325
CAN $ 1.3338
US $ 1.2843
GBP (£) 0.8544
Sw Fr 1.2574
YEN 132.4110
CURRENCIES ($)
AUS $ 1.0375
CAN $ 1.0382
Euro 0.7786
GBP (£) 0.6654
Sw Fr 0.9789
YEN 103.0800
RATIOS & INDEXES
Gold / Silver61.70
Gold / Oil14.22
Dowjones / Gold11.21
COMMODITIES
Copper 3.37-0.01
WTI Oil 96.05-0.11
Nat. Gas 4.200.01
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
In the same category 
( 0 vote, 0/5 ) Print article
     
Tweet

Marketwire

 
 
MDN Inc.
TSX:MDN
Other Recent News

April 22, 2008
MDN: Tulawaka Mine Produces 62,085 Ounces of Gold During the First Quarter of 2008

Record gold production exceeds guidance

MONTREAL, QUEBEC--(Marketwire - April 22, 2008) - MDN Inc. ("MDN") (TSX:MDN) is pleased to announce that the Tulawaka Gold Mine in Tanzania produced 62,085 ounces of gold during the first quarter ended March 31, 2008. Tulawaka gold production now amounts to 505,065 ounces since the beginning of operations in March 2005.

For the first quarter, 51,763 ounces of gold were sold into the spot market at an average price of US$920 for total sales of US$47.6M. Since the beginning of operations in March 2005, a total of 484,927 ounces of gold were sold.

In the very short term, the threshold of 500,000 ounces of gold will be reached, which will enable MDN to attain a key objective, being the final payment of the royalty payable on the gold price.

During the first quarter, the plant facilities processed 87,598 tons of ore at an average grade of 23.3 g/t gold and at a gold recovery rate of 94.48%. Total cash costs averaged US$181 to produce an ounce of gold during this quarter.

"We are very pleased with the results of the first quarter, said Paul-A. Girard, President and CEO of MDN. It is an important step in our growth strategy and the realization of our financial goals."

For the first quarter, its participation in the Tulawaka Gold Mine generated US$8.4M; this amount was entirely applied to the payment of the gold price participation royalty and to the reimbursement of the loan. After the cash distribution to the JV participants (MDN 30% - Pangea Goldfields 70%), the Tulawaka Gold Mine has a cash balance of US$28.8M.

"We are now completing the financial statements for the first quarter of 2008, said Yves Therrien, CMA, Vice-President Finance of MDN. The publication of our results in mid-May will provide an update on the financial situation of MDN with regards to the debt and the royalty on the price of gold."

The Tulawaka project is a joint-venture between MDN (30%) and Pangea Goldfields Inc. (70%), a wholly owned indirect subsidiary of Barrick Gold Corporation and project operator through its Tanzanian subsidiary Pangea Minerals Ltd. The information disclosed on the Tulawaka Gold Mine is based on information provided by the Operator.

MDN is a mining exploration company with its head office in Montreal, Quebec (Canada). Its main exploration activities are carried out in Quebec through gold and base metal interests and in Tanzania through a majority interest in 28 adjacent mineral licenses in addition to a 30% participation interest in the Tulawaka Gold Mine and the new acquisition in Ikungu area.

CONTACT INFORMATION:

MDN
Paul-A. Girard
President & CEO
514-866-6500

or

MDN
Yves Therrien, CMA
Vice-President, Finance
514-866-6500

or

MDN
Richard Corbo
Advisor, Corporate Development
514-866-6500
www.mdn-mines.com

or

Evolution Group
Sylvain Archambault
President & CEO
514-448-4887 / Toll Free: 866-703-4887
s.archambault@evolutiongrp.com
www.evolutiongrp.com

INDUSTRY: Manufacturing and Production - Mining and Metals

Footer

Tweet

MDN Inc

PRODUCER
CODE : MDN.TO
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Email Alert Add to Watchlist Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy
Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
In the News and Medias of MDN Inc
1/29/2013MDN shifts focus, funds to Tanzania assets
7/26/2011African Barrick/MDN Tulawaka gold mine ups output 49% in H1
Annual reports of MDN Inc
2008 Annual Report
Financings of MDN Inc
12/21/2007Received $2 Million on Exercise of Warrants
Nominations of MDN Inc
2/23/2010Appoints Serge Bureau as CEO
9/12/2008Marc Boisvert Becomes MDN Inc.-Vice President-Exploration
Financials of MDN Inc
5/10/2013Reports its Financial Results for the First Quarter of 2013
3/27/2013Reports Its Financial Results for the Fiscal Year Ended Dece...
11/12/2012Reports Its Financial Results for the Third Quarter of 2012
11/12/2012Reports Its Financial Results for the Third Quarter of 2012
11/12/2012Reports Its Financial Results for the Third Quarter of 2012
8/13/2012Reports Its Financial Results for the Second Quarter of 2012
7/23/2012.-Tulawaka 2012 Second Quarter Results
5/11/2012Reports its Financial Results for the First Quarter of 2012
4/19/2012.: Tulawaka First Quarter Results
3/23/2012Reports its 2011 Financial Results
11/7/2011Reports its Financial Results for Q3 2011 Profitable Third Q...
5/26/2011Reports Its Financial Results for the First Quarter of 2011
3/24/2011Reports its 2010 Financial Results
1/18/2011(Tulakawa Mine)Fourth Quarter Results at the Tulawaka Gold Mine
11/9/2010MDN Reports its Financial Results for the Third Quarter
4/1/2010Posts 2009 Financial Results
10/19/2009(Tulakawa Mine)Tulawaka Mine Produces 29,489 Ounces of Gold During the Thir...
7/20/2009(Tulakawa Mine)Tulawaka Mine Produces 24,561 Ounces of Gold during the seco...
4/29/2009(Tulakawa Mine)Tulawaka Mine Produces 20,493 Ounces of Gold During the Firs...
11/13/2008Third Quarter Ended 2008
10/22/2008(Tulakawa Mine)Tulawaka Mine Produces 53,694 Ounces of Gold During the Thir...
7/16/2008(Tulakawa Mine)TULAWAKA MINE PRODUCES 67,032 OUNCES OF GOLD DURING THE SECO...
4/23/2008(Tulakawa Mine)Produces 62,085 Ounces of Gold During the First Quarter of 2...
1/17/2008(Tulakawa Mine) Tulawaka Mine Achieves Record Gold Production and Strong Fi...
10/17/2007 TULAWAKA MINE PRODUCES 41,817 OUNCES OF GOLD DURING THE THI...
7/25/2007Tulawaka Mine Produces 42,893 Ounces of Gold in the Second Q...
Project news of MDN Inc
5/15/2013(Ikungu)Terminates Its Agreement With Metalinvest for the Ikungu Pro...
2/25/2013(Ikungu)Ikungu Project: MDN Signs an Option Agreement With Metalinve...
10/2/2012(Ikungu)Identifies 4 Important Gold Anomalies on its Ikungu Property...
6/14/2011(Crevier)Stakes 98 km2 of Strategic Ground Southeast of Crevier
5/13/2011(Crevier)Seeking a Strategic Partner for the Crevier Project
2/3/2011(Crevier)Confirms That the Niobium-Tantalum Mineralization Extends Mo...
10/22/2010(Tulakawa Mine)Tulawaka Continues to Show Promising Drill Intercepts From U...
10/22/2010(Tulakawa Mine)Tulawaka Continues to Show Promising Drill Intercepts From U...
10/12/2010(Mcgold)and SOQUEM Start Drilling on the MCGol =?ISO-8859-1?Q?d=20Pr...
9/30/2010(Ikungu)Outlines Strong Gold Potential at its Ikungu Project
5/4/2010(Ikungu)The Ikungu Project Continues to ShowGood Gold Intersections ...
5/3/2010(Tulakawa Mine)Exploration Drilling at Tulawaka Mine Identify a New Gold Zo...
3/5/2010(Ikungu)Exploration Update, Ikungu Property, Tanzania
1/29/2010MDN to begin feasibility study on Quebec niobium/tantalum pr...
11/6/2009(Isambara) Isambara Project Update: Drill Hole Intersects an Alteratio...
11/2/2009(Tulakawa Mine)Preliminary Results on Tulawaka's Underground Drilling
7/28/2009(Isambara)Operational Update: Drilling Program has Begun at Isambara
3/19/2009(Isambara)Isambara Project Update: Substantial Progress Made in the Id...
2/26/2009(Ikungu)High-Grade Gold Samplings for Ikungu Project
1/27/2009(Tulakawa Mine) Tulawaka Gold Mine Achieves Record production of 211,373 ou...
9/15/2008 Proves Extensions to the High-Grade Zones at Isambara
5/22/2008(Tulakawa Mine): First Results of the 2008 Isambara Drilling Program
4/2/2008(Tulakawa Mine)Tulawaka Gold Mine expects to produce 180,000 ounces of gold...
11/19/2007(Tulakawa Mine)New high-grade intersections
Corporate news of MDN Inc
4/26/2013Metalinvest Requests an Extension for Payment of the Initial...
2/13/2013Announces Tulawaka Year-End 2012 Operational Results
1/28/2013Corporate Restructuring Focused on Exploration in Tanzania
10/26/2012.: Tulawaka 2012 Third Quarter Results/Focus on Mine Life Ex...
9/11/2012(Ikungu).: Presence of a Volcanic Belt of More Than 15 km on Ikungu ...
1/18/2012.: Fourth Quarter Operation Results at the Tulawaka Gold Min...
8/4/2011Reports its Financial Results for the Second Quarter of 2011...
4/21/2011Announces First Quarter Production of 19,606 Ounces of Gold ...
2/16/2010 Increases its Participation in Mineraux Crevier to 67.5%
12/16/2009Announces Important Changes to Senior Management
11/12/2009Net Income for the 7th Consecutive Quarter
10/21/2009 Provides an Update on Anita
8/13/2009Net Income of $1,153,330 or $0.012 Per Share
6/2/2009Confirms an Investment in a Niobium and Tantalum Deposit
5/25/2009Corporate Update of MCI's Acquisition Project
5/15/2009Net Income of $794,214 or $0.01 Per Share
4/22/2009Paul Gobeil Joins MDN Board of Directors
4/14/2009MDN Acquires an Advanced Development Project in Quebec
3/24/2009Launches a Normal Course Issuer Bid
12/18/2008 Provides Corporate Development Update
10/9/2008 Acquires 100% Interest of the Simba Property
10/6/2008SHARE CAPITAL UPDATE
9/19/2008Overwhelming Acceptance Rate For MDN's Warrant Exchange Offe...
9/4/2008Warrant Exchange Offer Extended
8/12/2008NET EARNINGS OF $6.6 MILLION OR $0.073 PER SHARE
8/1/2008Announces a Warrant Exchange Offer
6/5/2008Shareholders Approve the Shareholders Rights Plan
5/15/2008Net Earnings of $1.8 Million or $0.02 Per Share
4/23/2008Adopts Shareholder Rights Plan
10/3/2007DISCOVERY OF A NEW MINERALIZED ZONE ON ISAMBARA
9/11/2007Retains the Services of Evolution Group
8/23/2007Acquisition in Normetal Area-Abitibi
8/3/2007Tanzanian Royalty Receives Assay Results From MDN for Mnezek...
5/24/2007Northern Mining Explorations Ltd. Changes its Name to MDN IN...
5/16/2007First Drilling Phase Completed With Success on Isambara
4/4/2006(Isambara)First drilling in Eritrea
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (MDN.TO)
0.045+0.00%
TORONTO
CA$ 0.045
05/22 15:58 -
0%
Prev close Open
0.045 0.040
Low High
0.040 0.045
Year l/h YTD var.
0.040 -  0.130 -65.38%
52 week l/h 52 week var.
0.040 -  0.240 -79.55%
Volume 1 month var.
113,000 -10.00%
Produces Gold
Develops
Explores for Copper - Gold - Niobium - Silver - Tantalum - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
TOP NEWSRELEASES
Annual variation
DateVariationHighLow
2013-59.09%
2010-17.31%0.580.32
2009-7.14%0.850.42
 
5 years chart
 
3 months chart
 
3 months volume chart