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New Dawn Receives Payment in U.S. Dollars For Two Gold Bars Exported to South Africa

 

TORONTO, April 15 /CNW/ - New Dawn Mining Corp. (TSX: ND) announced that it has received payment for its first two bars of fine gold recently exported to South Africa, consisting of approximately 19.8 kg's (636 ounces), that were produced from the Company's 100% wholly-owned Turk Mine in Zimbabwe. The payment received totaled approximately US$551,000 representing a sale price of $870 per ounce of gold, less certain direct costs.

 

Under the new Monetary Policy in Zimbabwe, New Dawn is able to directly market its gold and retain 100% of it gold sales in U.S. currency. The receipt of this payment completes the Company's implementation of the new direct gold marketing process, as well as making the previous risk of non-payment for gold sales no longer a significant negative factor in considering an investment in the gold mining sector in Zimbabwe.

 

New Dawn recently shipped an additional approximately 14.1 kg's (450 ounces) of fine gold to Rand Refiners in South Africa for payment in U.S. Dollars, with such payment scheduled to be received within 10 business days from date of shipment.

 

This payment for the first two gold bars and the expected receipt of U.S. Dollars for the next shipment of gold has provided sufficient working capital for New Dawn to begin to purchase goods and services to support expanded operations at the Turk Mine in Zimbabwe. New Dawn has initiated the purchase of consumables for the ramp up of operations on an "immediate supply" basis. New Dawn anticipates reporting the change to full-scale operations at the Turk Mine in due course.

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New Dawn's Turk Mine in Zimbabwe Resumes Full-Scale Mine Operating Program

 

TORONTO, May 4, 2009 (Canada NewsWire via COMTEX News Network) --

 

 

<<

Highlights:

-----------

- Resumption of full-scale mining operations at Turk Mine in Zimbabwe

 

- Initial production rate of 250 tonnes per day at Turk Mine

 

- Initial output targeted at 700 to 750 ounces of gold per month

 

- Immediately available production capacity at Turk Mine of 400 tonnes

per day

 

- Output targeted to rise to 1,150 to 1,200 ounces of gold per month by

October 2009

 

- Average cash cost anticipated at approximately US$425 to US$450 per

ounce in October 2009

 

- 11 years of proven and probable mine reserves at October 2009

production rates

 

- Further additional incremental production increases planned as

expansion projects completed.

 

- US$1.3 million received and 100% retained from gold sales during the

restart of the mine development program

>>

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New Dawn's Turk Mine in Zimbabwe Resumes Full-Scale Mine Operating Program

 

Thanks for the heads up on ND paying off nicely, see MWA getting full ramp treatment on many U.K b.b's and they've not really done anything yet

 

wheel starting to turn ;)

 

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Thanks for the heads up on ND paying off nicely, see MWA getting full ramp treatment on many U.K b.b's and they've not really done anything yet

 

wheel starting to turn ;)

 

 

Which UK BB's do you watch Riggers?

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Bit out of date, but from around the same time:

 

A brief discussion with Ian R. Saunders, President, Cheif Executive Officer and Director of New Dawn Mining about the working climate and it's effects operating in Zimbabwe

 

http://www.vantagewire.com/audio/showaudio/9

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Mwana making slow progress.

 

From results : Commenting on the results Kalaa Mpinga, Chief Executive Officer, said: "This has been a challenging year for Mwana Africa as we have fought to protect our strategic investments and the foundations of our pan-African, multi-commodity strategy. With the improvement in operating conditions in

Zimbabwe, we will shortly resume operations at Freda Rebecca and are currently looking at options to resume operations at BNC including the potential to

restart development of our promising Hunters Road project."

 

He followed these up with a purchase of 1million shares at 5.581p taking his stake to 9.35% of the total voting rights, small vote of confidence perhaps? Chairman also bought a few too.

 

Seems like Freda is the short term key driver.

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Interesting.

 

http://www.miningweekly.com/article/zimbab...ment-2009-07-10

 

Zimbabwe has launched a review of all mining contracts, saying it would introduce a "use it or lose it" policy.

 

"In doing so we want to ensure that all those that are performing will not be prejudiced," he said. "We are doing it in a manner that will not frighten people away." :o Really!

 

 

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Conrad,

Hi my first post on here, would be interested to have info on gold mining interests in Zimbabwe.

Would appreciate list of all outfits with mining interests in the country.

Thanks.

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Blanket Gold Mine in Zimbabwe to Reopen

Caledonia Mining is expected to bring the Blanket gold mine in Zimbabwe back into service in the near future

http://uk.reuters.com/article/marketsNewsU...G42639020090403

 

Enjoying their return to production

 

http://www.caledoniamining.com/pdfs/08112009.pdf

 

Add Metallon too

 

http://www.mineweb.com/mineweb/view/minewe...5&sn=Detail

 

and just maybe the bottom of this article might happen one day for me please ;)

 

http://allafrica.com/stories/200908060112.html

 

 

 

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Nice now can we get out of first gear :lol:

 

Might be time to have another look at New Dawn now they have cooled off a bit?

 

http://www.newdawnmining.com/s/NewsRelease...itive-Operati...

 

 

"As part of our strategic plan over the past couple of years, we elected to grow our asset base by over-developing the Turk and Angelus Mine complex relative to our production profile. We installed an upgraded production infrastructure that is now ready to be put into operation, which will allow us to mine over 11 years of in place reserves and to progressively increase our production levels," commented Ian Saunders, President and CEO. "The Turk Mine is far up the value curve, relative to its current production profile, and we are geared for sustainable growth. With production at the Turk Mine having resumed, we are just beginning to see the positive results from these efforts. On behalf of the board, management and all of our employees, I would like to thank our shareholders and partners for their continued support and commitment to New Dawn, and I look forward to reporting further production increases and steadily improving financial results to our shareholders in the coming quarters."

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September 14, 2009

New Dawn's Turk Mine in Zimbabwe -- August 2009 Represents 5th Consecutive Month of Increased Gold Production

 

Highlights:

Gold production for August 2009 was 1,019 ounces or 31.7 kg's, as compared to 1,016 ounces or 31.6 kg's produced in July 2009

 

Gold sales for August 2009 were US$774,000, at US$949.90 per ounce average gold price

 

At August 2009 month-end, an additional 770 ounces or 23.95 kg's of gold were awaiting export for sale in South Africa, which will be included in September 2009 sales

 

100% of gold sales are received in US Dollars

 

August 2009 marks the 5th consecutive month of increased production

 

http://www.newdawnmining.com/s/NewsRelease...secutive-Mont...

 

September 16, 2009

New Dawn's Turk and Angelus Mines in Zimbabwe 35,000 to 50,000 oz Potential Gold Production

 

Expansion Plans Fully Funded From Operating Cash Flow

 

TORONTO, Ontario, September 16, 2009 - New Dawn Mining Corp. (TSX: ND) ("New Dawn" or the "Company") has implemented a program to increase its current production at its Turk and Angelus Mines in Zimbabwe to an annual production rate of 35,000 to 50,000 ounces of gold. This program has been designed to increase gold production on a staged basis through mine development and expansion. The program is expected to be fully funded by operating cash flow.

 

http://www.newdawnmining.com/s/NewsRelease...-Potential-Go...

 

No wonder it's been on the run of late ;)

 

 

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Meanwile at the Mwana AGM Tuesday comments on its Zimbabwean gold mine being " on course to restart production this month, and that improved conditions in the country favoured resumption of its nickel operations".

 

Mwana Africa said it had completed refurbishment of its Freda Rebecca gold mine, north-east of the capital Harare...and was also considering reopening its majority-owned unit Bindura Nickel Corp's nickel mines, which were mothballed last November, due to revival in world prices.

 

The company said in a statement that talks with lenders to increase gold production to 50,000 ounces a year from 30,000 ounces were continuing.

 

'Many of the changes in the economic environment in Zimbabwe, which prompted the decision to resume the refurbishment of the Freda Rebecca gold mines, will have a similarly positive impact on operations at BNC,' Mwana said.

 

Kalaa Mpinga, Mwana's chief executive told Reuters in a telephone interview that Zimbabwe's economic environment had improved since President Robert Mugabe and Prime Minister Morgan Tsvangirai set up a power-sharing government in February.

 

On black empowerment....

 

'We believe in empowerment, but it has to be done in a manner conducive to investment. If somebody has a project and you ask them to take 100 percent of the risk, you cannot ask them to take only 49 percent of the profit.'

 

http://www.forbes.com/feeds/afx/2009/09/15/afx6887662.html

 

Full details also on website

 

Waiting for minesite presentation as I couldn't attend :(

 

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Someone flagging it up everywhere on the boards, but the close today did warrant a little suspicion it's getting interesting at MWA

 

A South African company intends to buy a significant portion of Mwana Africa’s shareholding in Bindura Nickel Corporation, the country’s largest nickel producer.

 

In a seemingly veiled hint, Mwana Africa chairman, Mr Kalaa Mpinga last week told shareholders at the company’s Annual General Meeting that the board would consider a combination of debt and "equity" to fund its recapitalisation drive.

 

Sources( :rolleyes: ), this week, said the South African company, based in the Democratic Republic of Congo, had already approached Mwana Africa with their proposal. The name of the company could not be ascertained.

 

http://www.herald.co.zw/inside.aspx?sectid=10854&cat=8

 

Any clues Conrad??

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do you know any JSE listed ZIM miners Conrad?

 

no one

 

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