The annual bottom line sagged for Vancouver-based Northgate Minerals Corp. (TSX:NGX) for the year ending December 31, 2007.
Revenue fell to $335.7 million compared with $411.3 million in 2006. Net income was also down. It dropped to $38.1 million compared with $106.7 million in 2006.
A decrease in ore mined at Northgate's Kemiss mine contributed to the company's lower annual revenue. Total ore mined fell to 17.9 million tonnes from 18.2 million tonnes in 2006. Gold production totalled 245,631 ounces compared with 310,296 ounces in 2006. Copper production fell to 68.1 million pounds from 81.2 million pounds in 2006.
Northgate's share price range during the past week: between $3.16 and $3.20; 52-week high: $4.55; 52-week low: $2.45.