The mid-term target is of producing 100,000 ounces by per annum by 2014 to 2015.“New Dawn is targeting on doubling its run rate by late 2011 to 38,000 to 40,000 ounces of consolidated annualised gold production,” said Ian Saunders, the president and chief executive officer.As of September 30, 2010, New Dawn had three gold mines in operation, consisting of its 100%-owned Turk Mine and the Old Nic Mine and the Dalny Mine that New Dawn acquired as part of the CAG transaction in June last year. Dalny Mine resumed production during the quarter ended September 30, 2010.The acquisition of CAG has substantially increased the company’s potential, increasing measured and indicated resources by 92%, (inclusive of reserves) and bringing under the company’s control five mining properties and a large portfolio of exploration properties in Zimbabwe. “The upside potential of these assets, to be developed and operated using New Dawn’s established knowledge, experience and operating methods has, in the view of Company’s management, provided a substantial step towards realising the Company’s goal of becoming a mid-tier gold producer,” New Dawn said. In the financial year ended September 30, 2010, New Dawn’s revenue jumped to US$ $16,380,508 from US$5 644 977 recorded in the prior year. Net loss for the year were reduced significantly to US$ 786 123 from US$3 737 594 recorded in the previous financial year.
