Introduction and Executive Overview
Introduction
This MD&A of the results of operations and liquidity and capital resources of Northgate for the 2008 and 2007 fiscal years should be read in conjunction with the consolidated financial statements and related notes. All the financial information presented herein is expressed in US dollars, unless otherwise stated. Financial information presented in tables is expressed in thousands of US dollars, unless otherwise indicated. The accompanying consolidated financial statements and related notes are presented in accordance with Canadian generally accepted accounting principles ("GAAP"). These statements, together with this MD&A dated March 30, 2009, are intended to provide shareholders with a reasonable basis for assessing the operational and financial performance of Northgate, as well as certain forward-looking statements relating to Northgate's potential future performance. Additional information can be found in Northgate's Annual Information Form ("AIF"), which is filed with the Canadian Securities regulatory authorities on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and Northgate's annual report on Form 40-F, which is filed with the United States Securities and Exchange Commission ("SEC") at www.sec.gov.
Executive Overview
Northgate is a gold and copper mining company focused on operations and opportunities in the politically stable jurisdictions of Canada and Australia. Its principal assets are the Fosterville and Stawell Gold mines in Victoria, Australia, the Kemess South mine in north-central British Columbia and the Young-Davidson property in northern Ontario. Northgate's common shares trade on the Toronto Stock Exchange under the symbol NGX and on the NYSE Amex (formerly the American Stock Exchange) under the symbol NXG.
On February 18, 2008, Northgate acquired Perseverance Corporation Ltd. ("Perseverance"), an Australian gold producer with two fully-permitted gold mines. Northgate's 2008 consolidated results include the results of its Australian operations from the date of acquisition.