TORONTO, May 14 /CNW/ - New Dawn Mining Corp. (TSX: ND) ("New Dawn" or the "Company") reported that the Company's work force at its Turk Mine in Zimbabwe has gone on strike as part of the recent call for strike action on a national level by the Associated Mine Workers Union of Zimbabwe (the "Union").
Both New Dawn and the Zimbabwe Chamber of Mines are of the position that the proper procedures on the strike ballot were not followed, as clearly laid out by Zimbabwean law. New Dawn and the Chamber of Mines also believe that all domestic dispute-breaking remedies were not followed by the Union before balloting occurred with respect to the proposed strike.
As a result, the Chamber of Mines has applied to the Zimbabwe Ministry of Labor for a "show cause order" and has requested that the strike action be set aside pending confirmation of the Union following the legally required procedures. Since New Dawn and its local operating subsidiary did not receive an individual strike notice directly, New Dawn is not in a position to apply for its own legal ruling.
About New Dawn ...
New Dawn is a Zimbabwe-focused junior gold company currently expanding gold production at its Turk and Angelus Mines, exploring for gold, and identifying and pursuing other development projects, as well as actively assessing other value accretive acquisition opportunities in Zimbabwe.
New Dawn owns and operates the Turk and Angelus Mines in the upper southwest area of Zimbabwe that has the potential to produce an estimated 35,000 to 50,000 ounces of gold per annum. New Dawn owns the property outright on which these mines are located.
Currently, a production facility capable of processing up to 580 tonnes per day or 17,500 tonnes per month is in place and operating. The Company maintains a highly experienced work force at Turk Mine of over 950 people.
Additionally, the Company has a portfolio of exploration properties in Zimbabwe that includes the Consolidated Bubi Gold Fields and Consolidated Shurugwi Gold Fields properties.
Further information on New Dawn can be obtained at the Company's website at www.newdawnmining.com or in the Company's filings on SEDAR at www.sedar.com.
The TSX has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
The contents of this news release were supervised and reviewed by Ian R. Saunders, B.Sc., who is President, Chief Executive Officer, and a Director of New Dawn Mining Corp., and who is a Qualified Person within the meaning of NI 43-101.
Special Note Regarding Forward-Looking Statements: Certain statements included or incorporated by reference in this news release, including information as to the future financial or operating performance of the Company, its subsidiaries and its projects, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding targets, estimates and assumptions in respect of gold production and prices, operating costs, results and capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Such factors include, among others, risks relating to reserve and resource estimates, gold prices, exploration, development and operating risks, political and foreign risk, uninsurable risks, competition, limited mining operations, production risks, environmental regulation and liability, government regulation, currency fluctuations, recent losses and write-downs and dependence on key employees. See "Risk Factors" in the Company's Annual Information Form - 2009. Due to risks and uncertainties, including the risks and uncertainties identified above, actual events may differ materially from current expectations. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise.
SOURCE New Dawn Mining Corp.
For further information: For further information: Investor Relations Contact: Richard Buzbuzian, (416) 585-7890; President and Chief Executive Officer: Ian R. Saunders, (416) 585-7890, Visit us on the internet: http://www.newdawnmining.com, or E-mail us at: firstname.lastname@example.org