MDN Northern Mining: Tulawaka Mine Produces 124,743 Ounces of Gold in 2005.MONTREAL -- MDN MDN Mainichi Daily News (newspaper) MDN Ministère de la Défense Nationale (Canada) MDN Message Disposition Notification (Cisco & RFC-2298) Northern Mining (Minieres du Nord) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :MDN) is pleased to announce that the Tulawaka Mine in Tanzania produced 47,644 ounces of gold in the quarter ended December 31, 2005. Tulawaka gold production amounts to a total of 124,743 ounces since the start of production in March 2005, about 12% higher than the budget for 2005. During the last quarter the plant facilities processed 125,918 tonnes of ore at an average grade of 12.2 g/t gold and a gold recovery of 96.3%. The fourth quarter total cash costs averaged US$ 217 to produce an ounce of gold, compared with US$ 282 for the previous quarter. Since start-up, a total of 110,513 ounces of gold have been sold, entirely in the spot market, at an average price of US$ 465/oz, for gross revenues of US$ 51.2 million. The Tulawaka Mine has now registered more than 3.9 million man-hours worked without a single lost-time accident. Carlos Bertoni, MDN Northern Mining's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , stated: "We are happy to see the Tulawaka Mine completing its first calendar year so successfully, safely producing more gold than had been forecast, and at reduced costs. We look forward to the increase of the Tulawaka mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature in 2006, and to a decision on the underground expansion of the mine." The Tulawaka project is a joint-venture between MDN Northern Mining (30%) and Pangea Goldfields n. 1. A small slender woolly annual (Lasthenia chrysostoma) with very narrow opposite leaves and branches bearing solitary golden-yellow flower heads; it grows from Southwestern Oregon to Baja California and Arizona; - it is often cultivated. (70%), a wholly owned indirect subsidiary of Barrick Gold Barrick Gold Corporation TSX: ABX NYSE: ABX is the largest pure gold mining company in the world, with its headquarters in Toronto, Ontario, Canada; and four regional business units (RBU's) located in Australia, Africa, North America and South America. Corporation and project operator through its Tanzanian subsidiary Pangea Minerals Ltd. The information contained in this press release was provided by the project operator. NORTHERN MINING EXPLORATIONS LTD. (TSX:MDN) |
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