Toronto, Ontario — MININGREVIEW.COM — 18 January 2010 – New Dawn Mining Corp. – a TSX-listed and Canadian-based mining junior focused on gold in Southern Africa – has reported a 43% increase in gold sales from its Turk Mine in Zimbabwe for the quarter ended 31 December 2009.
In a statement released here the company revealed that sales in the final quarter totaled just under US$4 million, compared to US$2 779 692 for the quarter ended 30 September 2009.
It added that the mine had produced 3 239 ounces of gold in the quarter ended 31 December 2009, compared to 3 064 ounces in the previous quarter “’ an increase of 5.9% The average price per gold ounce was US$1 101 in the final quarter, compared to US$956/ounce in the previous three months.
The statement went on to say that at December 2009 month-end, an additional 393 ounces of gold awaited export for sale in South Africa, and would be included in January 2010 sales. 100% of gold sales had been received in US Dollars
“I am pleased to report to shareholders that we achieved record sales during the quarter ended 31 December 2009 as a result of both increased quarterly production and the higher gold spot price”, reported New Dawn president and CEO Ian R. Saunders.
“The higher gold prices have allowed us to accelerate our internally funded growth programme, from which we expect to see the benefits in subsequent periods. At the start of the New Year, our focus for 2010 is clear. We will continue our efforts to further increase and accelerate production at the Turk Mine and advance development on our exploration properties in Zimbabwe, while continuing to pursue value accretive acquisitions in Zimbabwe,” he added.