* Q3 loss/shr $0.03 vs loss/shr $0.03 year ago
* Q3 adj EPS $0.01
* Q3 gold prod 64,999 oz vs 80,791 oz year ago
* Sees Q4 gold prod at 67,500 oz
* Says cost of production rises 20 pct
Nov 10 Canada's Northgate Minerals Corp's
NGX.TO quarterly net loss widened marginally as the junior
miner witnessed a drop in gold and copper production, hurt by
lower production and higher production costs.
For the July-September period, the company produced 64,999
ounces of gold and 10.9 million pounds of copper at an average
net cash cost of $645 per ounce.
This compares with the year-ago quarterly production of
80,791 ounces of gold and 11.9 million pounds of copper at an
average net cash cost of $539 per ounce.
Northgate, which has development and exploration projects
in Canada and Australia, reported a loss of $8.9 million, or 3
cents a share, for the quarter, compared with a loss of $8.6
million, or 3 cents a share, a year ago.
The company said its quarterly results included a an
unrealized loss of $14.8 million related to copper forward
sales contracts. Excluding special items, it earned $1.7
million, or 1 cent per share.
Revenue fell 26 percent to $88.3 million.
Northgate expects to produce about 67,500 ounces of gold
during the October-December quarter and sees 2010 total
production at 274,000 ounces of gold.
Shares of the company, which have lost about 7 percent this
year, closed at C$2.96 Tuesday on the Toronto Stock Exchange.
(Reporting by Ashutosh Joshi in Bangalore; Editing by