HomeGoldNew Dawn gold sales earn nearly US$3 million

New Dawn gold sales earn nearly US$3 million

A wide view of New
Dawn’s Turk gold
mine in Zimbabwe
 
Toronto, Canada — MININGREVIEW.COM — 26 October 2009 – New Dawn Mining Corporation – a TSX-listed and Canadian-based mining junior focused on gold in Southern Africa – reports that sales from gold produced and sold from its Turk Mine in Zimbabwe for the quarter end 30 September 2009 totalled US$2.8 million (R22 million).
 
A New Dawn statement issued here said that during the quarter ended 30 September 2009, 3 059 ounces of gold had been produced, and 2 907 ounces of gold had been sold at an average net sales price of US$956/oz. Total sales proceeds had been received in US dollars.

It added that at the September 2009 month-end, an additional 733 ounces or of gold had been awaiting export for sale in South Africa, and would be included in October 2009 sales.

Company president and CEO Ian Saunders commented: “We are pleased to report that New Dawn is well-positioned to continue to increase production at the Turk Mine in the coming months and quarters. I look forward to reporting further progress regarding our production expansion plans, as well as our acquisition and exploration efforts in Zimbabwe.”

New Dawn owns and operates the Turk and Angelus Mines in the upper south-west area of Zimbabwe with the potential to produce an estimated 35 000 to 50 000 ounces of gold per annum. Additionally, the company has a portfolio of exploration properties in Zimbabwe that includes the Consolidated Bubi Gold Fields, Consolidated Midlands Gold Fields and Consolidated Shurugwi Gold Fields properties.

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