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Market: TSX
Sector: Gold Mining
Epic: ND
News: Latest news
Web Site: New Dawn Mining
Other Articles: 15-07-201007-07-201017-06-2010 
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New Dawn Mining

New Dawn Mining

New Dawn Mining Corp. is a Zimbabwe-focused junior gold company engaged in the production of gold and related activities, including exploration, development, mining and processing in southern Africa. The Company's principal assets are the actively producing Turk Mine in Zimbabwe, the advanced exploration project Angelus Mine in Zimbabwe, and a portfolio of exploration properties.

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Wednesday, March 17, 2010

New Dawn Mining’s gold production climbs 6% in February as ramp up continues at Turk Mine

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Junior gold producer New Dawn Mining (TSX:ND) reported a 6% increase in February gold production from its Turk  and Angelus Mines in Zimbabwe.   The Africa focused gold play produced 1,234 ounces of gold in February, up from 1,160 ounces in January.  New Dawn currently exports its gold to South Africa to be sold in US dollars. 

 
February’s gold sales generated US$1.23 million in revenues for the company (average price per ounce achieved was $1,094 down slightly from $1,117 per ounce in January).


New Dawn attributed the increase in gold production to increase tonnage being sent to its 580 tonne per day (17,500 tonnes per month) facility. New Dawn has been focused on reinvesting cash flow into the mining and processing infrastructure at the mine.
 
"With our recently expanded mining and development program, we are now producing gold at the rate of approximately 1.5 kg's per day as gold production continues to ramp up at the Turk/Angelus mine complex," commented Ian R. Saunders, President and CEO.  "We are continuing with our aggressive capital reinvestment campaign, which includes the purchase of new processing equipment that is being funded from the positive operating cash flow that we are generating from our current and expanding gold mining operations in Zimbabwe.”

New Dawn is targeting annualized production of 22-23,000 ounces of gold in the next 12 to 18 months.


 The Turk and Angelus Mines currently host a 43-101 compliant resource of 0.959 million ounces of gold grading between 3.8 grams per tonne gold and 6.1 grams per tonne gold. There is an additional inferred resource of 0.347 million ounces grading between 5.16 g/t gold and 5.91 g/t gold. Reserves and Resources are based upon a 2.45 g/t cut-off and US$875/oz gold price at the Turk and Angelus Mines.

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