New Dawn Mining Corp., a junior gold company, engages in the exploration, development, extraction, processing, and reclamation of precious metal deposits in Zimbabwe. It primarily explores for gold, base metals, and precious metals. The company holds 100% interest in the Turk and Angelus mine that includes 146 contiguous blocks covering a total area of 1,651 hectares located within the Bubi greenstone belt, north of the Bulawayo, Midlands province; the Old Nic mine, which consists of 17 contiguous blocks covering a total area of 164 hectares located in the Bulawayo greenstone belt, east of Bulawayo, Midlands province; and the Camperdown mine that includes 8 blocks of precious metal claims an...
116 Simcoe Street
Toronto, ON M5H 4E2
Founded in 1999
New Dawn Mining Corp. Announces Management Changes
Jan 3 14
Effective December 31, 2013, Jon W. North and Philip G. MacDonnell resigned as directors of New Dawn Mining Corp. and Graham R. Clow retired from his position as
Chief Financial Officer and Corporate Secretary of the Company.
New Dawn Mining Corp. Reports Unaudited Condensed Consolidated Operating and Earnings Results for the Quarter Ended September 30, 2013
Nov 14 13
New Dawn Mining Corp. reported unaudited condensed consolidated operating and earnings results for the quarter ended September 30, 2013. For the quarter, the company has posted revenue of $12,164,071 against $16,486,612 a year ago. Net loss allocable to common shareholders was $5,051,577 or $0.11 basic and diluted per share against $523,683 or $0.01 basic and diluted per share a year ago. Adjusted LBITDA was $646,057 against adjusted EBITDA of $695,942 a year ago. Adjusted EBITDA for the quarter ended September 30, 2013 was adversely impacted by the declining gold price and elevated operating costs at the Dalny Mine, but was not affected by the provision for impairment recorded during the quarter, which was a non-cash charge excluded from the calculation of Adjusted EBITDA. Operating results before the impairment charge for the quarter ended September 30, 2013 were adversely impacted by the decrease in revenue resulting from the low gold prices and high operating costs, which although elevated have begun to decline based on the cost reduction initiatives implemented in July 2013 and the closure of the Dalny Mine on August 30, 2013.
Gold production for the quarter ended September 30, 2013 was 8,884 ounces (8,341 ounces attributable), as compared to gold production of 10,256 ounces (9,370 ounces attributable) for the quarter ended September 30, 2012, a decrease of 1,372 ounces or 13.4% (11.0% decrease on an attributable basis). Gold sales for the quarter ended September 30, 2013 were $12,164,071 ($11,393,572 attributable), as compared to $16,486,612 ($15,073,167 attributable) for the quarter ended September 30, 2012, a decrease of $4,322,541 or 26.2% (24.4% decrease on an attributable basis). The average sales price per ounce of gold was $1,313 and $1,649 for the quarters ended September 30, 2013 and 2012, respectively, a decrease of $336 or 20.4%.
New Dawn Mining Applies To Voluntarily Delist Its Common Shares From TSX
Oct 23 13
New Dawn Mining Corp. has applied to voluntarily delist its common shares from the Toronto Stock Exchange (TSX), and expects the delisting to be effective on November 20, 2013.