Attention Business Editors:
Tentative labour agreement reached at Northgate's Kemess mine
TSX NGX AMEX NXG
VANCOUVER, Feb. 14 /CNW/ - Northgate Minerals Corporation (TSX: NGX,
AMEX: NXG) announced today that it has reached a tentative agreement on a new
three-year collective agreement with the International Union of Operating
Engineers Local 115 (the "Union"), representing the 300 production and
maintenance employees at its Kemess South mine. The Union's bargaining
committee will be unanimously recommending ratification of the tentative
agreement to its membership. Voting on the agreement will take place over the
next two weeks.
Ken Stowe, President and CEO, commented, "We are pleased that a tentative
agreement has been reached following extensive discussions over the past
several months and I would like to commend the two negotiating teams for their
tireless efforts throughout this lengthy process."
NORTHGATE MINERALS CORPORATION is a gold and copper mining company
focused on operations and opportunities in the Americas and Australia. The
Corporation's principal assets are the Kemess South mine in north-central
British Columbia and the Young-Davidson property in northern Ontario. With the
proposed acquisition of Perseverance Corporation Limited, the addition of two
operating mines will create a leading multi-mine, mid-tier gold producer, with
over 400,000 ounces of gold production in 2008. 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 includes certain "forward-looking statements" within
the meaning of section 21E of the United States Securities Exchange Act of
1934, as amended. These forward-looking statements include estimates,
forecasts, and statements as to management's expectations with respect to,
among other things, future metal production and production costs, potential
mineralization and reserves, exploration results, progress in the development
of mineral properties, demand and market outlook for commodities and future
plans and objectives of Northgate Minerals Corporation (Northgate).
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 upon a number of estimates and assumptions that, while
considered reasonable by management are inherently subject to significant
business, economic and competitive uncertainties and contingencies. There can
be no assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in
such statements. Important factors that could cause actual results to differ
materially from Northgate's expectations are disclosed under the heading "Risk
and Uncertainties" in Northgate's 2006 Annual Report and under the heading
"Risk Factors" in Northgate's 2006 Annual Information Form (AIF) both of which
are filed with Canadian regulators on SEDAR (www.sedar.com) and with the
United States Securities and Exchange Commission (www.sec.gov). Northgate
expressly disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future
events or otherwise.
For further information: Ms. Keren R. Yun, Investor Relations, Tel: (416)
216-2781, Email: ngx@northgateminerals.com, Website:
www.northgateminerals.com
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PRODUCTEUR |
CODE : NGX.TO |
ISIN : CA6664161024. |
CUSIP : 666416102 |
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Northgate Minerals est une société de production minière d'or et de cuivre basée au Canada. Northgate Minerals est en développement de projets d'or, de cuivre et d'argent au Canada, et détient divers projets d'exploration au Canada. Ses principaux projets en production sont STAWELL MINE et FOSTERVILLE MINE en Australie et KEMESS SOUTH au Canada, son principal projet en développement est YOUNG - DAVIDSON au Canada et ses principaux projets en exploration sont BOULEVARD, KEMESS UNDERGROUND, MATACHEWAN MINE et AWAKENING GOLD au Canada. Northgate Minerals est cotée au Canada. Sa capitalisation boursière aujourd'hui est 176,0 millions (173,2 millions US$, 122,3 millions €). La valeur de son action a atteint son plus bas niveau récent le 28 janvier 2000 à 0,60 , et son plus haut niveau récent le 12 mai 2006 à 5,29 . Northgate Minerals possède 47 442 200 actions en circulation. |