Northgate Completes US$257M Deal for Perseverance in Australia

By Romina Maurino
19 Feb 2008 at 10:41 AM GMT-05:00

TORONTO (CP)  – Northgate Minerals Corp. [TSX:NGX] has completed a US$257-million acquisition of Australian miner Perseverance Corp., giving the mid-sized Vancouver firm several more years’ worth of resources as its only other producing asset, the Kemess mine in B.C., begins to wind down.

The all-cash deal also gives Northgate its first international presence and is expected to lead to more than 400,000 ounces of unhedged gold production in 2008.

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