Northgate Minerals Corp (NXG) Signs Impact - Benefits Agreement
Some good news after the bell for NXG shareholders:
VANCOUVER, July 2 /PRNewswire-FirstCall/ - Northgate Minerals Corporation (TSX: NGX, NYSE Amex: NXG) and the Matachewan First Nation are pleased to announce that the parties have signed an Impact and Benefits Agreement (”IBA”) for the Young-Davidson project located in Matachewan, Ontario. The IBA establishes a framework for the permitting and development of a mine on the Young-Davidson property and sets out a variety of co-operative initiatives between the Matachewan First Nation and Northgate relating to employment, training and other business opportunities in connection with the project. The IBA follows on the Memorandum of Understanding, which was signed in March 2008.
Source: NXG News
2oversold.com readers already know we have blogged regularly about Northgate Minerals (NXG - $2.20) since late Dec, 2008 as a company we felt was “worth a look”. At the time Northgate Minerals was trading about .75 a share and from all we could tell this seemed to be simply 2oversold and our opinion was and continues to be that the economy is not going to see any quick fix and in these recessionary times we will continue to see the mining companies perform extremely well.
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Northgate Minerals Announces Positive Young-Davidson Pre-Feasibility Study
* Press Release
* Source: Northgate Minerals Corporation
* On Tuesday July 14, 2009, 4:35 pm EDT
.8 Million Ounces of Gold Added to Reserves
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11:00 am ET
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VANCOUVER, July 14 /PRNewswire-FirstCall/ - (All figures in US dollars except where noted) Northgate Minerals Corporation (TSX: NGX, NYSE Amex: NXG) is pleased to announce positive results from the Pre-feasibility Study (”Pre-feasibility”) on its 100% owned Young-Davidson project in Matachewan, Ontario. The Pre-feasibility was completed by AMEC Americas Limited (”AMEC”), an independent and internationally-recognized engineering firm, which also has been commissioned to complete a Feasibility Study on the project by year-end.
http://finance.yahoo.com/news/Northgate-Minerals-Announces-prnews-1111765592.html?x=0&.v=12