adminquarter ended June 30
The miner produced 6 841 ounces of gold during the period under review, compared to 3 243 ounces in the quarter ended June 30, last year.
As compared to the production output for the prior quarter ended March 31 of 6 226 ounces, production for the quarter ended June increased by 9,9 percent.
The company’s gold sales for the latest quarter totalled US$9,7 million at an average sales price per ounce of gold at US$1 516, as compared to sales of US$3,5 million for the prior comparable period at an average sales price per ounce of gold of US$1 194. This represents an increase of 176 percent. Compared to gold sales for the March quarter of US$7,9 million, sales for the quarter ended June increased by 22,7 percent. New
Dawn’s Zimbabwe operations include the Turk/Angelus Mine Complex, the Old Nic Mine and the Camperdown Project.
In addition, New Dawn has an approximately 85 percent equity interest in Dalny, Golden Quarry and Venice mines, and a large portfolio of prospective exploration acreage in Zimbabwe.
These six mines, four of which are now operational, are divided into three significant gold camps, and the company is in the process of expanding production at these sites.
Meanwhile, the TSX-listed firm has disputed reports the Zimbabwe Government has rejected its empowerment proposals.
The company said it is “continuing to engage in confidential discussions with relevant Government authorities” over various aspects of its indigenisation compliance plan. New Dawn also said the Competition and Tariff
Commission last month approved the company’s acquisition of a controlling interest in Central African Gold despite claims to the contrary.
“New Dawn is continuing to engage in confidential discussions with relevant Government authorities in Zimbabwe as to various aspects of its plan.”
Online Reporter
Bongani Ndlovu