Summary
Northgate Minerals Corporation (Northgate) is a gold and copper concentrate producer. Northgate owns and acquires properties, explores for precious and base metals. Northgate is in the business of mining and exploring for gold and copper, with a focus on opportunities in North and South America. The Company's principal asset is its 100% interest in the Kemess South open pit mine and its associated infrastructure and mineral rights (Kemess South) located in north-central British Columbia. The mineral rights cover an area of 34,735 hectares and are held as four Mining Leases covering the Kemess South (one lease) and Kemess North (three leases) deposits, 64 mineral claims surround the Mining Leases. One mineral claim (NOR 1) is held under an option agreement. In addition, Northgate focuses its exploration activities within its land position surrounding the Young-Davidson property in Ontario.
Reasons I am buying now:
- Technically stock is near it lows for 2007
- Stock has 5 stars CAPS rating (Community based rating system)
- "2007 exploration program at Young-Davidson is off to an excellent start", per CEO
- my gut feeling, which is so far has 50/50 accuracy
- solid financial, attractive valuation, and expanding profit margins.
$3.03 (06/22/07)
