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So they got it done. That is a big merger.
Goldcorp Announces Shareholder Approval for Combination with Newmont
APR 04, 2019
https://www.goldcorp.com/English/investors/news-releases/default.aspx#2019#Goldcorp-Announces-Shareholder-Approval-for-Combination-with-Newmont
Dr. Jim Willie PhD URGENT ?? Central Banks Buying Gold!!! GLOBAL Monetary Reset in Apr 2019
321 views
Special Reports 2019
Published on Apr 6, 2019
Goldcorp: 'Anything but my Payment' -
Goldcorp Inc. (G:TSX; GG:NYSE, US$11.52) looks set to be acquired by Newmont, but not without continuing controversy, particularly over chairman Ian Telfer's egregious "retirement allowance" payment, almost tripled after the acquisition announcement. After my comments last bulletin, I was invited onto BNN/Bloomberg to discuss the merger. See TV interview here. The response was overwhelming, and positive.
Following the noisy opposition, Newmont and Goldcorp announced that Telfer would not be continuing as vice chairman of the combined company. But Telfer keeps his payment.
A few Newmont shareholders weighed in, saying Goldcorp should not benefit from the recent Newmont/Barrick Nevada joint venture, and opposing the large payment to Goldcorp's chairman. Goldcorp agreed for current Newmont shareholders to receive an extra cash dividend. But Telfer keeps his payment.
Shareholders are down by about two-thirds since Telfer became chairman. But Telfer keeps his payment.
We are holding the shares for now. We have voted our shares against
the merger, opposing both the payment but also
the sale of the company close at barely one-third the share price
when Telfer took over in 2006. Confucius he say:
"To receive a salary when you have lost the Way, that is shameful."
chevy56 welcome, I agree with; What’s new: Paulson & Co wants the terms
of the Newmont-Goldcorp deal re-cut and wants Newmont
to offer 0.254 shares of Newmont stock
for each share of Goldcorp (plus 2 cents of cash per Goldcorp share).
I think the offer bid for Goldcorp shares are WAY TO LOW -
Goldcorp has >60 mil. ounces in reserve and is very undervalued, imo!
I voting against the offer!
Newmont’s Goldcorp Deal Faces Opposition. Here’s What It Means for Gold Miners.
By Al Root
March 22, 2019 1:08 p.m. ET
Newmont’s Goldcorp Deal Faces Opposition. Here’s What It Means for Gold Miners.
Photograph by Romeo Gacad/AFP/Getty Images
Text size
Hedge fund and prominent gold investor Paulson & Co. is opposing Newmont Mining ’s proposed merger with Goldcorp .
“The $1.5 billion premium to Goldcorp (ticker: GG) shareholders is unjustified given Goldcorp’s poor performance,” wrote John Paulson and Marcelo Kim in a letter sent to Newmont (NEM) CEO Gary Goldberg.
https://www.barrons.com/articles/newmonts-goldcorp-deal-faces-opposition-heres-what-it-means-for-gold-miners-51553274512?mod=hp_LATEST
The suggestion that Goldcorp has struggled isn’t controversial. Its shares have returned negative 15% a year on average for the past five years. While combining a top operator with an underperforming asset can generate shareholder value, which may be true for Newmont-Goldcorp, the deal has implications for other gold miners as well.
The back story: Goldcorp stock has struggled—and more than other gold miners. The VanEck Vectors Gold Miners ETF (GDX) has returned negative 1.7% a year on average over the last five years. Still an annual loss, but better than Goldcorp stock’s performance. Newmont shares, by contrast, have fared much better returning 7.7% a year on average over the same span.
The wide spread in stock performance may be driving M&A activity. 2019 started off with a bang in the sector when Newmont announced its $13 billion bid for Goldcorp. About a month later Barrick Gold (GOLD) announced a hostile bid for Newmont saying a combination between Barrick and Newmont was superior to the company Newmont wants to form with Goldcorp.
Newmont and Barrick eventually agreed to a joint venture—combining assets in Nevada to capture synergies that benefit both companies. The end of Barrick’s hostile bid left the Goldcorp deal active.
What’s new: Paulson & Co wants the terms of the Newmont-Goldcorp deal re-cut and wants Newmont to offer 0.254 shares of Newmont stock for each share of Goldcorp (plus 2 cents of cash per Goldcorp share). The new ratio values Goldcorp at $8.73 per share, below the $9.69 Goldcorp was trading at before the Newmont deal was announced.
Goldcorp shares were at $10.64 in Friday afternoon trading—more than 20% above Paulson’s suggested price. Based on that reaction, the market doesn’t think a large adjustment to the exchange ratio is likely yet.
Paulson & Co. referred Barron’s to its letter when asked about the deal, and Newmont didn’t immediately respond to questions about the price it’s paying for Goldcorp.
Looking ahead: It seems that most everyone involved agrees with the premise of the Newmont-Goldcorp transaction—that Goldcorp could benefit from Newmont’s operational acumen. Barron’slikes the Newmont-Goldcorp deal as well, in part, for the same reason. Paulson’s suggested exchange ratio may be its opening gambit with Newmont in an effort to recapture some of the deal value, but it would be surprising to see the entire deal derailed.
And Newmont’s approach could have implications for other gold miners. Companies like Kinross Gold (KGC) and Eldorado Gold (EGO) have lower returns than peers of similar size. Perhaps larger miners with better operational histories could adopt the Newmont approach in an attempt to create value through better operational execution.
Write to Al Root at allen.root@barrons.com
https://www.barrons.com/articles/newmonts-goldcorp-deal-faces-opposition-heres-what-it-means-for-gold-miners-51553274512?mod=hp_LATEST
God Bless
I`m in...
chevy56
GLTUS
GOLD the reason for its popularity is its rarity -
Gold is a finite commodity -
There is only so much of the golden metal available, and
it can’t be manufactured.
Some experts, including Goldcorp’s chairman, Ian Telfer, are predicting
that the amount of future gold to be mined is already on the decline.
The fact that gold mining is on the decline is nothing new.
That has happened before.
What is worrying some investors is that
the world may be running out of physical gold.
Well we got it in time, ex....the futures LT;
long term trend normal moves since >500yrs cycles >
7yrs up and 7yrs down > if not
manipulated and if manipulated >
it fly much higher or fall off the cliff -
Worldwide Major Central Banks are Accumulating Their Gold Holdings
Gary Wagner Gary Wagner
Friday March 22, 2019 18:20
Note, bottom line....
There is an old adage that you buy when the big boys buy, and
sell when the big boys sell.
If this adage holds any weight we could be looking for gold
pricing to continue to rise in value.
https://www.kitco.com/commentaries/2019-03-22/Worldwide-Major-Central-Banks-are-Accumulating-Their-Gold-Holdings.html
The Operative Word for Gold and Silver? Patience - Weekly Wrap-Up (March 22, 2019)
https://www.sprottmoney.com/Blog/the-operative-word-for-gold-and-silver-patience-weekly-wrap-up-march-22-2019.html
Gold Could Fly If US Fed Keeps Or Cuts Interest Rates
By Lisa Smith -
March 20, 201910
https://www.iexpats.com/gold-could-fly-if-us-fed-keeps-or-cuts-interest-rates/
In GOD We Trust -
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Newmont’s Goldcorp Deal Faces Opposition. Here’s What It Means for Gold Miners.
By Al Root
March 22, 2019 1:08 p.m. ET
Newmont’s Goldcorp Deal Faces Opposition. Here’s What It Means for Gold Miners.
Photograph by Romeo Gacad/AFP/Getty Images
Text size
Hedge fund and prominent gold investor Paulson & Co. is opposing Newmont Mining ’s proposed merger with Goldcorp .
“The $1.5 billion premium to Goldcorp (ticker: GG) shareholders is unjustified given Goldcorp’s poor performance,” wrote John Paulson and Marcelo Kim in a letter sent to Newmont (NEM) CEO Gary Goldberg.
https://www.barrons.com/articles/newmonts-goldcorp-deal-faces-opposition-heres-what-it-means-for-gold-miners-51553274512?mod=hp_LATEST
The suggestion that Goldcorp has struggled isn’t controversial. Its shares have returned negative 15% a year on average for the past five years. While combining a top operator with an underperforming asset can generate shareholder value, which may be true for Newmont-Goldcorp, the deal has implications for other gold miners as well.
The back story: Goldcorp stock has struggled—and more than other gold miners. The VanEck Vectors Gold Miners ETF (GDX) has returned negative 1.7% a year on average over the last five years. Still an annual loss, but better than Goldcorp stock’s performance. Newmont shares, by contrast, have fared much better returning 7.7% a year on average over the same span.
The wide spread in stock performance may be driving M&A activity. 2019 started off with a bang in the sector when Newmont announced its $13 billion bid for Goldcorp. About a month later Barrick Gold (GOLD) announced a hostile bid for Newmont saying a combination between Barrick and Newmont was superior to the company Newmont wants to form with Goldcorp.
Newmont and Barrick eventually agreed to a joint venture—combining assets in Nevada to capture synergies that benefit both companies. The end of Barrick’s hostile bid left the Goldcorp deal active.
What’s new: Paulson & Co wants the terms of the Newmont-Goldcorp deal re-cut and wants Newmont to offer 0.254 shares of Newmont stock for each share of Goldcorp (plus 2 cents of cash per Goldcorp share). The new ratio values Goldcorp at $8.73 per share, below the $9.69 Goldcorp was trading at before the Newmont deal was announced.
Goldcorp shares were at $10.64 in Friday afternoon trading—more than 20% above Paulson’s suggested price. Based on that reaction, the market doesn’t think a large adjustment to the exchange ratio is likely yet.
Paulson & Co. referred Barron’s to its letter when asked about the deal, and Newmont didn’t immediately respond to questions about the price it’s paying for Goldcorp.
Looking ahead: It seems that most everyone involved agrees with the premise of the Newmont-Goldcorp transaction—that Goldcorp could benefit from Newmont’s operational acumen. Barron’slikes the Newmont-Goldcorp deal as well, in part, for the same reason. Paulson’s suggested exchange ratio may be its opening gambit with Newmont in an effort to recapture some of the deal value, but it would be surprising to see the entire deal derailed.
And Newmont’s approach could have implications for other gold miners. Companies like Kinross Gold (KGC) and Eldorado Gold (EGO) have lower returns than peers of similar size. Perhaps larger miners with better operational histories could adopt the Newmont approach in an attempt to create value through better operational execution.
Write to Al Root at allen.root@barrons.com
https://www.barrons.com/articles/newmonts-goldcorp-deal-faces-opposition-heres-what-it-means-for-gold-miners-51553274512?mod=hp_LATEST
God Bless
Great discussion on gold and monetary expansion
I really liked the last line.
King World News note: The last chart says it all in terms of the gold price.
Gold is now at one of the most undervalued points in history. The same
could be said of the mining shares.
This well worth a review.
https://kingworldnews.com/european-analyst-warns-day-of-reckoning-approaching-for-central-banks-as-gold-price-set-to-surge/
God Bless
Federal Reserve Interest-Rate Decision—Live Analysis
Last Updated Mar 20, 2019 at 1:44 pm ET
Federal Reserve officials are on track to leave interest rates unchanged
at their two-day meeting ending today and could indicate at 2 p.m. EDT
they are comfortable holding them steady for a while.
We'll have all the details plus video of Fed Chairman Jerome
Powell's press conference at 2:30 p.m. EDT.
https://www.wsj.com/livecoverage/federal-reserve-march-meeting-2019
Gold Could Fly If US Fed Keeps Or Cuts Interest Rates
By Lisa Smith -
March 20, 201910
https://www.iexpats.com/gold-could-fly-if-us-fed-keeps-or-cuts-interest-rates/
In GOD We Trust -
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
It's funny how some things change. I remember the days when gold was a hedge against inflation and everytime they raised rates gold would go up.
Gold Could Fly If US Fed Keeps Or Cuts Interest Rates
By Lisa Smith -
March 20, 201910
https://www.iexpats.com/gold-could-fly-if-us-fed-keeps-or-cuts-interest-rates/
In GOD We Trust -
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Germany wants its gold back and Mnuchin's visit to Fort Knox, weird things are happening.
2,169 views
TheStreet: Investing Strategies
Published on Sep 2, 2017
Did Germany ever get their gold being held at Ft. Not. ?
They wanted it but there was some snafu??? Anyone here about how that turned out?
Found this gem being pumped on a number of sites hence bringing me here. What is the deal with this one? Seems like day traders are running it up to dump imo. Any info??
very nice pump for that dog Levon..that I lost a lot of money on...nuff said
Goldcorp Announces Support for Barrick and Newmont Nevada Joint Venture
T.G |
Canada NewsWire
VANCOUVER, March 11, 2019 /CNW/ -
GOLDCORP INC. (TSX: G, NYSE: GG) ("Goldcorp" or the "Company")
announced today that it has consented to and fully supports the
announced Nevada Joint Venture between Barrick Gold Corporation
("Barrick") (NYSE:GOLD) (TSX:ABX) and Newmont Mining Corporation
("Newmont") (NYSE: NEM). More information on the Nevada Joint
Venture is available at
http://www.newmont.com
Goldcorp's board of directors continues to recommend that Goldcorp shareholders vote FOR the proposed plan of arrangement with Newmont, as previously announced on January 14, 2019. More information on the proposed plan of arrangement with Newmont and the special meeting of Goldcorp shareholders on April 4, 2019 is available at www.goldcorp.com.
Goldcorp also welcomes the announcement that Barrick has agreed to
withdraw its proposal to acquire Newmont.
About Goldcorp
http://www.goldcorp.com
Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within
Read more at https://stockhouse.com/news/press-releases/2019/03/11/goldcorp-announces-support-for-barrick-and-newmont-nevada-joint-venture#yTdZKQHIUkV15jwE.99
Levon Resources buy-out target 2019. This is intresting, just read about Goldcorp is in talk with Levon for a takeover. I can see the value, Levon has a gigantic silver deposit, no debt and well funded.
Newmont CEO holds 10% of the shares.
https://levon.com/
To be continued, M and A is the trend now.
Have you read this article.https://www.zerohedge.com/news/2019-03-07/gold-soar-central-banks-try-play-god-again-david-brady
chevy56
GLTUS
Goldcorp (GG) /Keep & Stack Gold\ Sell Less Gold -
Russia China Gold Standard Means Death Of US/NWO fiat$Dollar -
It Was Very Good for Goldcorp when Robert McEwen Stacked
the Gold and Sold Less )
It has become more and more nations who want their gold back -
Turkey was the last country to ask for gold, and withdrew 220 tonnes of
gold from the US Federal Reserve on 19 April 2018.
The country's 220 tonnes of gold are valued at $25.3 billion.
Turkey has followed countries such as
Germany,
the Netherlands,
Austria,
Belgium,
Russia and
China which have already started to repatriate their gold stocks.
There is a real lack of confidence in the U.S. Treasury which
currently holds 261,000,000 ounces of gold mainly at Fort Knox,
according to GOLD TELEGRAPH.
Furthermore, the official gold reserves have never been thoroughly
independently verified.
Why Romania Wanting Its Gold Back May Mean More Than You Think
Mar 06, 2019
Guest(s): Jeffrey Christian Managing Partner, CPM Group
https://www.kitco.com/news/video/show/PDAC-2019/2309/2019-03-06/Why-Romania-Wanting-Its-Gold-Back-May-Mean-More-Than-You-Think#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DPDAC-2019
The repatriation of gold from central banks has less to do with gold
and more to do with the rise of nationalism, said Jeffrey Christian,
managing partner of CPM Group.
“The more important thing has nothing to do with gold and it has
everything to do with the rise of nationalism,” Christian told Kitco
News on the sidelines of the PDAC 2019.
“What you’re really seeing is a rising nationalist trend, not only in
Europe, but also in other countries.”
Italy’s gold reserves belong to central bank – BoI’s Visco
Posted on March 6, 2019 by News
Reuters/Stefano Bernabei/3-4-2019
“Bank of Italy’s Governor Ignazio Visco said on Monday the country’s
reserves of gold belonged to the central bank and could not be used to
fund government spending.”
Note: Here we are again witnessing an argument among principal players
over the sovereign nature of a barbarous relic
that has no relevance in
the modern monetary system [sigh. . . to NWO fiat$fed counter paper fits]
Modern Monetary Theory is smoke and mirrors nonsense
Posted on March 6, 2019 by Opinion
MarketWatch/Kenneth Rogoff/3-5-3019
“Just as the Federal Reserve seems to have beaten back blistering
tweets from President Donald Trump, the next battle for central-bank
independence is already unfolding.
And this one could potentially destabilize the entire global
financial system.
A number of leading U.S. progressives, who may well be in power after
the 2020 elections, advocate using the Fed’s balance sheet as a cash
cow to fund expansive new social programs, especially in view of
current low inflation and interest rates.”
The Fed is moving to take even more control of debt markets and interest rates
Posted on March 6, 2019 by Opinion
Mises Institute/Thorsten Polleit/3-4-2019
“In the second scenario, in the light of an actual or expected rise in
inflation, people lose their confidence in the value of the currency.
They try to rid themselves of their money balances, withdraw bank
deposits and divest their bond holdings. To prevent this from raising
market interest rates, the central bank has purchase more debt and
issue more money.
This causes confidence in the value of money to decline further.
The debt market sell-off continues, and more money is issued,
so that eventually price inflation accelerates.”
https://mises.org/wire/fed-seizing-even-more-marketplace
xxxx xxxx
God Bless America
chevy56 thank you, Goldcorp (GG) /Keep & Stack Gold\ Sell Less Gold -
Russia China Gold Standard Means Death Of US/NWO fiat$Dollar -
It Was Very Good for Goldcorp when Robert McEwen Stacked
the Gold and Sold Less )
It has become more and more nations who want their gold back -
China, Russia and India All Prepare To DUMP the DOLLAR in Global Trade!
53,722 views
The Money GPS
Published on Oct 31, 2018
Ex....
Goldcorp (GG) /Keep & Stack Gold\ Sell Less Gold -
Russia China Gold Standard Means Death Of US/NWO fiat$Dollar -
It Was Very Good for Goldcorp when Robert McEwen Stacked
the Gold and Sold Less )
It has become more and more nations who want their gold back -
China, Russia and India All Prepare To DUMP the DOLLAR in Global Trade!
53,722 views
The Money GPS
Published on Oct 31, 2018
Ex....
FT. Knox and Why You Should Stack Silver Not Gold -
32,173 views
SilverTorch66
Published on Feb 25, 2019
All Fiat currency goes to zero -
Parliament leaders want Romanian gold reserves brought home
Submitted by cpowell on 11:50PM ET Thursday, February 28, 2019. Section:
Daily Dispatches
By Ioana Erdei
Business Review, Bucharest, Romania
Wednesday, February 27, 2019
BUCHAREST, Romania -- Chamber of Deputies President Liviu Dragnea and
Socia Democratic Party Sen. Serban Nicolae have proposed a bill to
force the National Bank to store 95 percent of Romania's gold reserves
in the country.
The bill is meant to change the law that establishes the National's Bank
statute. According to the document, the reason for this demand is that
gold stored abroad produces only additional costs with storage.
The bill also wants to eliminate the word "international" from the
terminology used by the National Bank in "international gold reserves."
Romania's gold reserves, 103.7 tons, are stored in three countries,
according to the National Bank officials.
Three years ago, the institution announced that 60 percent of the gold
reserves were stored abroad.
The situation has not changed -- 61 tons of the gold are stored at the
Bank of England, more than 40 tons are kept at the Bank of Romania in
Bucharest, and fewer than five tons are stored at the Bank for
International Settlements in Basel, Switzerland. ...
... For the remainder of the report:
http://business-review.eu/news/liviu-dragnea-demands-the-national-bank-to-bring-back-the-gold-reserves-stored-abroad-197298
* * *
In GOD We Trust -
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
GATA Chairman Murphy, TF Metals Report's Hemke interviewed on palladium, silver
Submitted by cpowell on 01:16AM ET Friday, March 1, 2019.
Section: Daily Dispatches
8:17p ET Thursday, February 28, 2018
Dear Friend of GATA and Gold:
Craig Hemke of the TF Metals Report and GATA Chairman Bill Murphy
were interviewed this week by Phil Kennedy of Kennedy Financial,
discussing the recent explosion in palladium and whether failure
of naked shorting of futures contracts in that metal could cause
failure of the futures markets in gold and silver.
They also discuss JPMorganChase's domination of the silver market.
The interview is 36 minutes long and can be viewed at You Tube here:
Barrick Is Throwing “Smoke Bombs” In Aim To Distract Says Pierre Lassonde
Feb 25, 2019
https://www.kitco.com/news/video/show/BMO-Conference-2019/2285/2019-02-25/Barrick-Is-Throwing-Smoke-Bombs-In-Aim-To-Distract-Says-Pierre-Lassonde#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DBMO-Conference-2019
Pierre Lassonde Chairman, Franco-Nevada
Barrick Gold may just be trying to lower Newmont MIning's share price
enough in order to do a proper bid, said Pierre Lassonde, chairman of
Franco-Nevada.
"What's happening has never been seen in history.
Frankly, it's the first time I've ever seen a hostile [takeover]
at a discount to the stock price," Lassonde told Kitco News at
the BMO Global Metals & Mining Conference.
In GOD We Trust -
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Good for Goldcorp. McEwen
Rob McEwen Talks Newmont-Barrick And Future Of Gold -
Feb 27, 2019
https://www.kitco.com/news/video/show/BMO-Conference-2019/2291/2019-02-27/Rob-McEwen-Talks-Newmont-Barrick-And-Future-Of-Gold#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3DBMO-Conference-2019
Guest(s): Rob McEwen
Mining mogul Rob McEwen said that more consolidation on the mega-cap
level without premiums would ultimately mean
shareholders benefit in the long-term.
“Over the last five years, you’ve heard a growing voice from
shareholders saying ‘hey, look after our interests first.’
And by going in and doing an at-market or discount to market
where you can see real synergies occurring, say in Nevada,
maybe more companies would start looking at that,”
McEwen told Kitco News on the sidelines of the
BMO Global Metals and Mining Conference.
McEwen said that it may be more beneficial to both parties
to merge without a large premium to begin with.
“It’s a good trend. I think if we could see more of
that happening, you’d see consolidation happening in
the industry and the shareholders would be treated better,”
In GOD We Trust -
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Hostile takeover?
Newmont Says Rival Miner Barrick Gold Has Bought a Small Stake
Barrick proposes to make it easier for Newmont stock owners to call a
meeting, a move that comes ahead of a potential hostile bid
The Merian gold mine, owned and operated by the Newmont Suriname mining company in Suriname in 2016.
https://www.wsj.com/articles/newmont-says-rival-miner-barrick-gold-has-bought-a-small-stake-11551050912
The Merian gold mine, owned and operated by the Newmont Suriname mining company in Suriname in 2016. PHOTO: RANU ABHELAKH/REUTERS
2 COMMENTS
By Alistair MacDonald
Updated Feb. 24, 2019 7:33 p.m. ET
Newmont Mining Corp. NEM 3.02% said Sunday that rival miner Barrick Gold Corp. GOLD -2.10% has taken a small stake in the company and proposed to make it easier for Newmont stock owners to call a shareholder meeting, a move that comes ahead of a potential hostile bid by the Canadian company.
A spokesman for Denver-based Newmont said Barrick had bought 1,000 shares in the company, which has 535 million shares outstanding.
Barrick, with a market value of almost $23 billion, said Friday it is considering an all-stock, no-premium transaction to merge with Newmont, which is valued at about $19 billion.
Buying a small stake allowed Barrick to make two shareholder proposals for consideration at Newmont’s next annual shareholders meeting.
One proposal would be to amend Newmont’s bylaws to lower the share-ownership threshold necessary to requisition shareholder meetings to 15% from the current 25%, Newmont said.
Barrick also proposed to repeal all bylaw amendments implemented since Oct. 24, 2018. Newmont said there have been no bylaw amendments since then.
Though uncommon, Barrick’s move has the potential to turn into a possible proxy fight for control of Newmont’s board to force a deal. By seeking to make it easier for shareholders to force Newmont to call a shareholder vote, Barrick is laying the groundwork to put forth a slate of directors who might be more amenable to a merger if Barrick pursues a tie-up and Newmont’s current management and board oppose the idea.
A spokesman for Barrick declined to comment.
Newmont agreed earlier this year to buy miner Goldcorp Inc. of Vancouver, Canada, in a stock deal valued at $10 billion.
The pending deal would make Newmont the biggest gold miner by production, passing longtime rival Barrick, whose output has been declining.
The Newmont spokesman said the Goldcorp tie-up “will create an unmatched portfolio of world-class operations, projects, reserves, exploration opportunities and talent.”
He said the company won’t speculate on Barrick’s motivation for announcing it is considering making a hostile bid. Newmont said it hasn’t yet received an approach from Barrick.
Goldcorp shareholders are set to vote on Newmont’s offer April 4.
Barrick has long considered merging with Newmont to pair up their large gold-mining operations in Nevada and create an industry giant that would dwarf its nearest competitor. The last serious attempt at a deal faltered in 2014.
—Ben Dummett contributed to this article.
Write to Alistair MacDonald at alistair.macdonald@wsj.com
Appeared in the February 25, 2019, print edition as 'Newmont Rival Buys Stake.'
https://www.wsj.com/articles/newmont-says-rival-miner-barrick-gold-has-bought-a-small-stake-11551050912
Barrick’s Thornton puts Newmont in check in gold takeover game
By DANIELLE BOCHOVEBloomberg
Fri., Feb. 22, 2019
https://www.thestar.com/business/2019/02/22/barricks-thornton-puts-newmont-in-check-in-gold-takeover-game.html
Barrick eyes hostile bid for Newmont, Toronto Globe and Mail says
Submitted by cpowell on 02:17PM ET Friday, February 22, 2019. Section:
Daily Dispatches
By Niall McGee and Rachelle Younglai
The Globe and Mail, Toronto
Thursday, February 21, 2019
Barrick Gold Corp. is mulling a takeover bid for Newmont Mining Corp.,
a transaction that would represent one of the largest mining deals ever
and solidify the Toronto-based companys position as
the world's largest gold producer.
Barrick is working on a plan for a two-step deal that would see it
take over Colorado-based Newmont for about US$19 billion in stock,
then flip some of Newmont's assets to Australia's Newcrest Mining,
according to industry sources familiar with the situation.
... Dispatch continues below ...
The sources, who were granted anonymity by The Globe because they were
not authorized by their employers to speak publicly, cautioned that
there are still a number of hurdles.
One of those obstacles is winning support from shareholders of Newmont.
The company is attempting to close its own US$10 billion acquisition of
Vancouver miner Goldcorp Inc., which was announced only last month.
Under the potential terms of the deal, Barrick would keep
Newmonts Nevada and African mines, while Newcrest would take over its
Australian operations, which are worth billions. ...
... For the remainder of the report:
https://www.theglobeandmail.com/business/article-barrick-eyes-hostile-bi...
https://www.theglobeandmail.com/business/article-barrick-eyes-hostile-bid-as-newmont-set-to-become-no-1-gold-producer/
* * *
Hostile Bid, yeah saw this earlier. Gold Stocks are heating up.
chevy56
GLTUS
Barrick eyes hostile bid for Newmont, Toronto Globe and Mail says
Submitted by cpowell on 02:17PM ET Friday, February 22, 2019. Section:
Daily Dispatches
By Niall McGee and Rachelle Younglai
The Globe and Mail, Toronto
Thursday, February 21, 2019
Barrick Gold Corp. is mulling a takeover bid for Newmont Mining Corp.,
a transaction that would represent one of the largest mining deals ever
and solidify the Toronto-based companys position as
the world's largest gold producer.
Barrick is working on a plan for a two-step deal that would see it
take over Colorado-based Newmont for about US$19 billion in stock,
then flip some of Newmont's assets to Australia's Newcrest Mining,
according to industry sources familiar with the situation.
... Dispatch continues below ...
The sources, who were granted anonymity by The Globe because they were
not authorized by their employers to speak publicly, cautioned that
there are still a number of hurdles.
One of those obstacles is winning support from shareholders of Newmont.
The company is attempting to close its own US$10 billion acquisition of
Vancouver miner Goldcorp Inc., which was announced only last month.
Under the potential terms of the deal, Barrick would keep
Newmonts Nevada and African mines, while Newcrest would take over its
Australian operations, which are worth billions. ...
... For the remainder of the report:
https://www.theglobeandmail.com/business/article-barrick-eyes-hostile-bi...
https://www.theglobeandmail.com/business/article-barrick-eyes-hostile-bid-as-newmont-set-to-become-no-1-gold-producer/
* * *
This is as bullish I think I have ever heard Hemke -
Bear Market in Gold & Silver is Over – Craig Hemke
USA Watchdog, Released on 2/19/19
U.S. stocks were mixed as investors awaited further details from the fiat - fraud Federal Open Market Cabal’s latest mafia meeting -
https://finance.yahoo.com/news/stock-market-news-february-20-2019-134719869.html
xxxx xxxx
God Bless America
Salvini Calls For Elimination Of Italy's Central Bank, "Prison Time For Fraudsters"
Profile picture for user Tyler Durden
by Tyler Durden
Sun, 02/10/2019 - 19:56
https://www.zerohedge.com/news/2019-02-10/salvini-calls-elimination-italys-central-bank-prison-time-fraudsters
On Friday, in a moment of predictive insight, Bank of America correctly warned that the greatest threat to EPS - i.e., markets - in the next 3 years "is an acceleration of global populism via taxation, regulation & government intervention." Just one day later, this warning to the financial establishment was starkly manifest in that ground zero for Europe's populist revolt, Italy, where the country's coalition government hinted at where the global populist wave is headed next when he slammed the country’s central bank leadership and stock market regulator, escalating its attacks on establishment figures ahead of the European parliamentary vote in May.
Matteo Salvini, the outspoken head of the anti-immigrant League party, said the Bank of Italy and Consob, the country’s stock market regulator, should be "reduced to zero, more than changing one or two people, reduced to zero", or in other words eliminated, and that “fraudsters” who inflicted losses on Italian savers should "end up in prison for a long time."
As the FT notes, this latest broadside against Italy’s financial establishment comes as the two parties which are increasingly at odds with each other amid speculation Salvini may hold elections to become the sole leader of Italy, prepare to run against each other in the European parliamentary elections in May, a contest widely seen as a proxy for national polls. Meanwhile, both leaders have also increased their attacks against targets including the EU and French president Emmanuel Macron.
God Bless America
Newmont CEO On Why The World’s Largest Gold Merger Happened
3,474 views
Kitco NEWS
Published on Jan 30, 2019
Does anyone have any Golden Eagle 1700-1800 gold coins 1-50$ ea they want to sell ??
ps BOB---Relax--Gold stock is the only green thing showing today---hence the word green-back-ups
RE:GG sold for peanuts
This is what i said in an earlier post. The guidance was on track but the company failed to report this because the deal was done way before the annoucement. The share price would have moved up and Newmont did not agree to anymore than 10billion.THIS IS A RIP OFF PEOPLE BUY THE CEO AND IT'S BOARD>>>>>> VOTE NO!
Hopefully they will be SUED by big institutional investors and stop this corruption. We deserve a better deal and NEWMONT needs to up it's price for goldcorp.
Read more at http://www.stockhouse.com/companies/bullboard#KHx3RR1GkmG3R4qY.99
This is what i said in an earlier post. The guidance was on track but the company failed to report this because the deal was done way before the annoucement. The share price would have moved up and...read more
VOTE NO
posted January 17, 2019 10:28 am by stockfart
2 stars
image: http://www.stockhouse.com/CMSModules/Avatars/CMSPages/GetAvatar.aspx?maxsidesize=38&avatarguid=42f9d97e-b0c8-43a2-8a35-62dfec5ae64a
User avatar
mentor2018
image: http://www.stockhouse.com/Stockhouse/images/stars-mask.png
1.5 stars
User Actions January 17, 2019 - 07:05 AM 74 Reads
Post# 29244004
GG sold for peanuts
It is absolutely clear that GG's management only worked for themselves and failed to maximize shareholder value. At least they should have waited 1-2 years if the promised better performance was in the cards. They did not even wait to show the better 4Q production numbers first. This probably was already enough to bring the shares back to $10-11 without NEM. NEM takes almost no risk by paying with their relatively highly valued shares. They called it a premium of 17% which already disappeared because of the collapse of their stock. The whole thing is just not right for the GG shareholder who is ripped off. Clearly GG's management committed a crime not to defend their shareholders.
Read more at http://www.stockhouse.com/companies/bullboard#8YskE3VD6R4LU6QL.99
Gold bull McEwen sticks with his $5,000 call as pot stocks peak
By DANIELLE BOCHOVE Bloomberg
Thu., Jan. 17, 2019
Gold mining veteran Rob McEwen is nothing if not optimistic.
The founder of Goldcorp Inc. is sticking with his bold prediction that the
precious metal will soar almost fourfold to $5,000 an ounce (U.S.),
bolstered by a weaker dollar and waning demand for trendy assets like pot
stocks.
https://images.thestar.com/fMBEg9KUwU-dvY3mVcyxEmMMq-I=/1086x610/smart/filters:cb(1547748018139)/https://www.thestar.com/content/dam/thestar/business/2019/01/17/gold-bull-mcewen-sticks-with-his-5000-call-as-pot-stocks-peak/rob_mcewan.jpg
Gold mining veteran Rob McEwen is sticking with his bold prediction that
the precious metal will soar almost fourfold to $5,000 an ounce (U.S.),
bolstered by a weaker dollar and waning demand for trendy assets like pot stocks. (MICHAEL NAGLE / BLOOMBERG)
“Once people get over buying cryptos and biotech and cannabis stocks
they’re going to start looking at gold again,” the chief executive
officer of McEwen Mining Inc. said in an interview Thursday in Toronto
with Bloomberg Television.
Asked about his price target, McEwen said: “I’ve always liked $2,000
and beyond that $5,000.”
McEwen has been wrong before. In 2017, he predicted a “tsunami” of
liquidity seeking safe haven would push gold above $5,000 an ounce.
In 2016, he predicted prices of $1,700 to $1,900 by the end of the
year. The metal ended below $1,200 an ounce, and trades only slightly
higher now at about $1,290.
(the Fed NWO banksters mafia cabals have been making counterfit fiat
fraud currency for more than 100yrs. and manipulated the gold market
as long, imo! ex....
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=146133115
A loss of confidence in the dollar, a peak in the broader stock market
and fears of inflation will feed the impending spike in gold prices,
he said.
“The gold bull market started in January of 2016,” he said.
“People haven’t seen it yet but we’re about a third of the way
through.”
McEwen, 68, is a fixture in Canada’s tight-knit gold mining community.
The founder of Goldcorp is a noted philanthropist, having donated
tens of millions of dollars to healthcare, business education, and
other causes. He also remains the country’s most famously unabashed
gold bull.
In GOD We Trust -
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
the more the Fed 666 banksters mafia manipulate the legal tender of
gold and silver, the higher it will FLY in the end )
Ps.
opinion appreciated
TIA
great info. My great grandfather panned the rivers in California in the mid 1800's and had $10,000 worth minted into gold coins in New Orleans. Still some family still search with metal detectors on the old home place they received from the Republic of Texas for his dad fighting in the Alamo.
Just think where our nation would be had we stayed with the gold standard and had Wilson not sold out by going along with the banksters creating the Fed. and the revenuers.
How California stayed with gold when the rest of the U.S. adopted fiat money -J.P. Koning:
Submitted by cpowell on 02:15AM ET Thursday, January 17, 2019.
Section: Daily Dispatches
9:15p ET Wednesday, January 16, 2019
Dear Friend of GATA and Gold:
Bullion Star's J.P. Koning tonight reviews early California's attachment
to gold as money and its rejection of the U.S. national government's
fiat currency "greenbacks" during the Civil War.
Koning concludes that the primary determinant of currency use is
whatever most people are using, even if the majority's currency is
steadily devaluing.
Koning's analysis is headlined "How California Stayed with Gold
When the Rest of the U.S. Adopted Fiat Money" and it's posted
at Bullion Star here:
https://www.bullionstar.com/blogs/jp-koning/how-california-stayed-with-gold-when-the-rest-of-the-u-s-adopted-fiat-money/
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Goldcorp Achieves 2018 Production and Cost Guidance
JAN 14, 2019
VANCOUVER, Jan. 14, 2019 /CNW/ -
GOLDCORP INC. (TSX: G, NYSE: GG) ("Goldcorp" or the "Company") is
pleased to report gold production for the fourth quarter of
630,000 ounces, which was a 25% increase from the third quarter of 2018
and exceeded previously stated guidance.
Production for the year ended 2018 was 2,294,000 ounces.
All-in sustaining costs for the full year are expected to be at
the revised guidance of $850 per ounce.
Goldcorp's complete 2018 financial results will be released on
February 13, 2019.
In addition, the Pyrite Leach Project at Peñasquito achieved commercial
production during December 2018.
The project was completed under budget and ahead of schedule and was
one the first major projects completed using Goldcorp's Investment
Framework.
Due to the announcement of the proposed merger with Newmont,
Goldcorp will be cancelling its Investor Day, originally scheduled for
January 18, 2019.
About Goldcorp
http://www.goldcorp.com
Goldcorp is a senior gold producer focused on responsible mining
practices with safe, low-cost production from a high-quality portfolio
of mines.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the
meaning of Section 27A of the United States Securities Act of
1933, as amended, ---------"might" or "will", "occur" or
"be achieved" or the negative connotation thereof.
Forward-looking statements are necessarily based upon a number of
factors and assumptions that, if untrue, could cause the actual
results, --------differ materially from those described in forward-
looking statements, there may be other factors that cause actions,
events or results not to be as anticipated, estimated or intended.
Forward-looking statements are subject to known and unknown risks,
uncertainties and other important factors that may cause the actual
results,--------forward-looking statements that are included in this
document, whether as a result of new information, future events or
otherwise, except in accordance with applicable securities laws.
For further information please contact:
INVESTOR CONTACT
MEDIA CONTACT
Shawn Campbell
Director, Investor Relations
Telephone: (800) 567-6223
E-mail: info@goldcorp.com
Christine Marks
Director, Corporate Communications
Telephone: (604) 696-3050
E-mail: media@goldcorp.com
http://www.goldcorp.com
https://www.goldcorp.com/English/investors/news-releases/default.aspx#2019#Goldcorp-Achieves-2018-Production-and-Cost-Guidance
Cision View original content:
http://www.prnewswire.com/news-releases/goldcorp-achieves-2018-production-and-cost-guidance-300777440.html
SOURCE Goldcorp Inc.
In GOD We Trust -
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
https://investorshub.advfn.com/Goldcorp-GG-1997/
God Bless America
User avatar on stockhouse.com - (giving a bit more following info...
BSdetector2016
image: http://www.stockhouse.com/Stockhouse/images/stars-mask.png
2 stars
User Actions January 15, 2019 - 10:40 AM 125 Reads
Post# 29233139
Shareholders of both companies must approve the transaction
Goldcorp shareholders can still put an end to this giveaway to a US company.
FROM THE NR: The transaction is expected to close in the second quarter of 2019. Closing of the transaction is subject to approval by the shareholders of both companies; regulatory approvals in a number of jurisdictions including the European Union, Canada, South Korea and Mexico; and other customary closing conditions.
Read more at http://www.stockhouse.com/companies/bullboard#FoyhB6kr3AdXLomd.99
RE:RE:RE:RE:Wonder if shareholders can stop this takeover now!
as Gold goes to $1500 then $100,000 an oz this USA take over is BS!
Read more at http://www.stockhouse.com/companies/bullboard#fvatMpXhfR6QHFVg.99
Asked google about lawsuite against Goldcorp and following info
came up.... ??? that's all info I got....so far....mosty old or maybe outdated???
Shareholder Class Action Filed Against Goldcorp, Inc. | New Cases...
www.ktmc.com/new-cases/goldcorp-inc
Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired shares of Goldcorp, Inc. (NYSE: GG ...
SHAREHOLDER ALERT: Class Action Lawsuit Filed Against Goldcorp,...
finance.yahoo.com/news/shareholder-alert-class-action...
RADNOR, PA / ACCESSWIRE / September 6, 2016 / The law firm of Kessler Topaz Meltzer & Check, LLP reminds Goldcorp, Inc. (GG) (TSX:G.TO) ("Goldcorp" or the "Company") shareholders that a class ...
Shareholder Class Action Filed Against Goldcorp, Inc. - GG
www.prnewswire.com/news-releases/shareholder-class-action...
RADNOR, Pa., Aug. 31, 2016 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action lawsuit has been filed...
Appreciate more info ???
Thanks in advance -
God Bless
The Everything EXCEPT GOLD & SILVER Bubble - Mike Maloney on DataDash
4,348 views
GoldSilver (w/ Mike Maloney)
Published on Jan 15, 2019
Newmont and Goldcorp Combine to Create World's Leading Gold Company
Newmont (NYSE:NEM)
Today : Monday 14 January 2019
World-class portfolio of assets to support sustainable, profitable gold production over long-term horizon
DENVER, Jan. 14, 2019 /CNW/ -
Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) and Goldcorp Inc. (NYSE: GG, TSX: G) (Goldcorp) today announced they have entered into a definitive agreement in which Newmont will acquire all of the outstanding common shares of Goldcorp in a stock-for-stock transaction valued at $10 billion. Under the terms of the agreement, Newmont will acquire each Goldcorp share for 0.3280 of a Newmont share, which represents a 17 percent premium based on the companies' 20-day volume weighted average share prices.
The agreement will combine two gold industry leaders into Newmont Goldcorp, to create an unmatched portfolio of operations, projects, exploration opportunities, reserves and people in the gold mining sector. Newmont Goldcorp's world-class portfolio will feature operating assets in favorable jurisdictions, an unparalleled project pipeline, and exploration potential in the most prospective gold districts around the globe. In addition to providing shareholders the largest gold Reserves per share, Newmont Goldcorp will offer the highest annual dividend among senior gold producers.
"This combination will create the world's leading gold business with the best assets, people, prospects and value-creation opportunities," said Gary Goldberg, Newmont's Chief Executive Officer. "We have a proven strategy and disciplined implementation plan to realize the full value of the combination, including an exceptional pool of talented mining professionals, stable and profitable gold production of six to seven million ounces over a decades-long time horizon, the sector's largest gold Reserve and Resource base, and a leading project and exploration pipeline. Our cultures are well aligned, with strong commitments to zero harm, inclusion and diversity, and industry-leading environmental, social and governance performance. We expect to generate up to $100 million in annual pre-tax synergies, with additional cost and efficiency opportunities that will be pursued through our proven Full Potential continuous improvement program. The combination is expected to be immediately accretive to Newmont's net asset value and cash flow per share. We constantly review opportunities to raise our performance, and this combination represents the most promising path to deliver superior and sustainable value for our shareholders, employees, host countries and communities."
Newmont Goldcorp's Reserves and Resources will represent the largest in the gold sector and will be located in favorable mining jurisdictions in the Americas, Australia and Ghana, representing approximately 75 percent, 15 percent and 10 percent, respectively. Newmont Goldcorp will also prioritize project development by returns and risk, while targeting $1.0 to 1.5 billion in divestitures over the next two years to optimize gold production at a sustainable, steady-state level of six to seven million ounces annually. Supported by stable, profitable long-term production and an investment-grade balance sheet, Newmont Goldcorp will generate robust free cash flow and have the financial flexibility to fund project development and exploration in the decades ahead.
"This combination creates the world's premier gold company," said Goldcorp's President and Chief Executive Officer, David Garofalo. "In addition to the depth and quality of Newmont Goldcorp's operations, projects, exploration properties and Reserves, the combined company's assets will be centered in the world's most favorable and prospective mining jurisdictions and gold districts. The strategic rationale for combining Goldcorp with Newmont is powerfully compelling on many levels, and both teams are fully committed to delivering on the transaction's value proposition for all of our stakeholders. Newmont Goldcorp will be one of Canada's largest gold producers and will have its North America regional office in Vancouver, and expects to oversee more than three million ounces of the combined company's total annual gold production."
Strategic rationale
The combination of Newmont and Goldcorp will create the world's leading gold company offering shareholders and other stakeholders:
Experienced management and talented mining professionals with a proven track record of maximizing value by delivering long-life and low-cost profitable gold mining operations
Unparalleled leverage to the gold price given the combined company's scale (2017 gold production actuals: Newmont = 5.3 million ounces; Goldcorp = 2.6 million ounces)
A world-class portfolio of gold mining operations and projects in favorable jurisdictions
Steady, profitable gold production targeting 6 to 7 million ounces over a decades-long time horizon
Recognized industry leadership in environmental, social and governance performance
A targeted sustainable annual dividend of $0.56 per share,i the highest among senior gold producers
A solid, investment-grade balance sheet
An unparalleled project pipeline on four continents
Exploration opportunities in the world's most prospective gold districts
The sector's largest gold Reserves and Resource base
Structure and long-term leadership succession
Following the merger, management of Newmont Goldcorp will feature proven and experienced mining and business leaders at both the Board and executive team levels, along with diverse, high-performing teams at the combined company's regional and operating sites.
Newmont Goldcorp's management team will be appointed on a "best talent" basis, with Gary Goldberg as Chief Executive Officer and Tom Palmer as President and Chief Operating Officer.
Building on the depth of Newmont Goldcorp's combined global talent pool, the Board will continue to focus on strategic leadership development, robust and thoughtful succession planning, and seamless leadership transitions. As part of a planned and orderly leadership succession process, Mr. Goldberg and Newmont's Board have been engaged in discussions anticipating a CEO succession in early 2019. In October of 2018 the Company also announced Mr. Palmer's promotion to President and Chief Operating Officer.
To ensure a smooth and successful combination, Mr. Goldberg has agreed to lead Newmont Goldcorp through closure of the transaction and integration of the two companies. The Company expects this process to be substantially completed in the fourth quarter of 2019, when Mr. Goldberg plans to retire and Mr. Palmer will become President and Chief Executive Officer.
The Board of Directors will be proportionally comprised of Newmont and Goldcorp Directors, with Noreen Doyle as Chair and Ian Telfer as Deputy Chair
Goldcorp's Vancouver, Canada office will become Newmont Goldcorp's North America regional office
Newmont Goldcorp's South America regional office will be in Miami, USA; the Australia regional office will be in Perth; and the Africa regional office will be in Accra, Ghana
Newmont Goldcorp will be a Delaware corporation with its corporate headquarters in Colorado, USA
Newmont Goldcorp's shares will be traded on the New York Stock Exchange using the ticker symbol NEM and expected to be listed for trading on the Toronto Stock Exchange (TSX) following closing of the transaction
Transaction terms
Newmont to acquire all outstanding Goldcorp equity at an exchange ratio of 0.3280 of a Newmont share and $0.02 for each Goldcorp share
Goldcorp equity value of $10 billion, with premium, and enterprise value of $12.5 billion
A 17 percent premium based on Newmont's and Goldcorp's 20-day VWAP share prices as of January 11, 2019
Newmont and Goldcorp shareholders will own approximately 65 percent and 35 percent of the combined entity, respectively
Transaction will be implemented by way of a court-approved plan of arrangement under the Business Corporation Act (Ontario)
Agreement provides for customary deal protection provisions, including mutual non-solicitation covenants and rights to match superior proposals
Under certain circumstances, Newmont would be entitled to a $350 million break-fee (3.5 percent of Goldcorp's equity value) and Goldcorp would be entitled to a $650 million break-fee (3.5 percent of Newmont's equity value)
Each of Goldcorp's and Newmont's directors and certain members of the executive leadership team have entered into voting support agreements agreeing to vote their shares in favor of the transaction
Path to close
The Boards of Directors of both companies have unanimously approved the transaction, including in the case of Goldcorp, on the unanimous recommendation of a special committee of independent directors of Goldcorp. The transaction is expected to close in the second quarter of 2019. Closing of the transaction is subject to approval by the shareholders of both companies; regulatory approvals in a number of jurisdictions including the European Union, Canada, South Korea and Mexico; and other customary closing conditions.
Benefits to Canada
The formation of Newmont Goldcorp ensures that Canada's gold industry will participate in a world-leading natural resources company that operates responsibly, is invested in the long-term success of its properties, and has the financial strength to explore and develop the next generation of significant gold mines. As part of this combination, Newmont Goldcorp plans to:
Preserve jobs in Canada by designating Goldcorp's current Vancouver headquarters as Newmont Goldcorp's North America regional office – this regional office will oversee all of Newmont Goldcorp's properties in Canada and the United States
Have the Vancouver office oversee North American operations with combined gold production of more than three million ounces per year – more than three times Goldcorp's current Canadian gold production
Make Newmont Goldcorp's Vancouver office the base for certain of Newmont Goldcorp's global functions and centers of excellence, including global oversight of Indigenous community relations
Maintain a significant Canadian presence on Newmont Goldcorp's Board of Directors and among the management of Newmont Goldcorp's Canadian properties
Honor all of Goldcorp's commitments to Indigenous communities to ensure their interests are acknowledged and protected
Seek to list Newmont Goldcorp's shares for trading on the TSX
Make new investments in a reinvigorated exploration program in Canada
Provide ongoing and long-term employment for highly skilled jobs at Newmont Goldcorp's properties in Canada
Maintain a commitment to environmental sustainability and to the health and safety of its workers
Continue contributions to organizations in the communities where Newmont Goldcorp operates to support charitable, social, recreational, and community development programs
Advisors and counsel
In connection with the transaction, Newmont has retained BMO Capital Markets, Citi and Goldman Sachs as financial advisors, and Wachtell, Lipton, Rosen & Katz, Goodmans LLP, and White & Case LLP as legal counsel; and Goldcorp has retained TD Securities and BofA Merrill Lynch as financial advisors and Cassels Brock & Blackwell LLP and Neal Gerber & Eisenberg LLP as legal counsel. The special committee of independent directors of Goldcorp has retained Fort Capital Partners as financial advisor and Osler, Hoskin & Harcourt LLP as legal counsel.
TD Securities and BofA Merrill Lynch have each provided an opinion to the Board of Directors of Goldcorp to the effect that, as of January 13, 2019, the consideration to be received by holders of Goldcorp common shares, is fair, from a financial point of view, to such holders, in each case, subject to the respective limitations, qualifications and assumptions set forth in such opinions. Fort Capital Partners has provided a fairness opinion to the special committee of independent directors of Goldcorp.
Analyst and investor webcast and conference call:
Newmont Mining – Business Update
January 14, 2019 at 10:00 AM Eastern Time
Conference Call Details
Dial-In Number
855.209.8210
Intl Dial-In Number
412.317.5213
Conference Name
Newmont Mining
Replay Number
877.344.7529
Intl Replay Number
412.317.0088
Replay Access Code
10127811
Webcast Details
Title: Newmont Mining – Business Update
URL: https://event.on24.com/wcc/r/1915172/E16420216780E4BFEB42403BF63313CA
About Newmont
Newmont is a leading gold and copper producer. The Company's operations are primarily in the United States, Australia, Ghana, Peru and Suriname. Newmont is the only gold producer listed in the S&P 500 Index and was named the mining industry leader by the Dow Jones Sustainability World Index in 2015, 2016, 2017 and 2018. The Company is an industry leader in value creation, supported by its leading technical, environmental, social and safety performance. Newmont was founded in 1921 and has been publicly traded since 1925.
About Goldcorp
Goldcorp is a senior gold producer focused on responsible mining practices with safe, low-cost production from a high-quality portfolio of mines.
Cautionary statement regarding forward looking statements:
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws and "forward-looking information" within the meaning of applicable Canadian securities laws. Where a forward-looking statement expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the forward-looking statements. Forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "anticipate," "intend," "plan," "will," "would," "estimate," "expect," "believe," "target," "indicative," "preliminary," or "potential." Forward-looking statements in this release may include, without limitation: (i) statements relating to Newmont's planned acquisition of Goldcorp and the expected terms, timing and closing of the proposed transaction, including receipt of required approvals and satisfaction of other customary closing conditions;; (ii) estimates of future production, including expected annual production range; (iii) estimates of future costs applicable to sales and all-in sustaining costs; (iv) estimates of future capital expenditures; (v) estimates of future cost reductions, synergies, including pre-tax synergies, savings and efficiencies; (vi) expectations regarding future exploration and the development, growth and potential of Newmont's and Goldcorp's operations, project pipeline and investments, including, without limitation, project returns, expected average IRR, and schedule; (vii) expectations regarding future investments or divestitures, including anticipated divestitures over the next two years; (viii) expectations of future dividends and returns to shareholders; (ix) expectations of future balance sheet strength and credit ratings; * expectations of future equity and enterprise value; (xi) expected listing of common stock on TSX; and (xii) expectations of future plans and benefits. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect. Such assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of Newmont's and Goldcorp's operations and projects being consistent with current expectations and mine plans, including without limitation receipt of export approvals; (iii) political developments in any jurisdiction in which Newmont and Goldcorp operate being consistent with its current expectations; (iv) certain exchange rate assumptions for the Australian dollar or the Canadian dollar to the U.S. dollar, as well as other the exchange rates being approximately consistent with current levels; (v) certain price assumptions for gold, copper, silver, lead and oil; (vi) prices for key supplies being approximately consistent with current levels; (vii) the accuracy of current mineral reserve, mineral resource and mineralized material estimates; and (viii) other planning assumptions. Risks relating to forward looking statements in regard to the Company's business and future performance may include, but are not limited to, gold and other metals price volatility, currency fluctuations, operational risks, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, political risk, community relations, conflict resolution governmental regulation and judicial outcomes and other risks. In addition, material risks that could cause actual results to differ from forward-looking statements include: the inherent uncertainty associated with financial or other projections; the prompt and effective integration of Newmont's and Goldcorp's businesses and the ability to achieve the anticipated synergies and value-creation contemplated by the proposed transaction; the risk associated with Newmont's and Goldcorp's ability to obtain the approval of the proposed transaction by their shareholders required to consummate the proposed transaction and the timing of the closing of the proposed transaction, including the risk that the conditions to the transaction are not satisfied on a timely basis or at all and the failure of the transaction to close for any other reason; the risk that a consent or authorization that may be required for the proposed transaction is not obtained or is obtained subject to conditions that are not anticipated; the outcome of any legal proceedings that may be instituted against the parties and others related to the arrangement agreement; unanticipated difficulties or expenditures relating to the transaction, the response of business partners and retention as a result of the announcement and pendency of the transaction; risks relating to the value of the Newmont's common stock to be issued in connection with the transaction; the anticipated size of the markets and continued demand for Newmont's and Goldcorp's resources and the impact of competitive responses to the announcement of the transaction; and the diversion of management time on transaction-related issues. For a more detailed discussion of such risks and other factors, see Newmont's 2017 Annual Report on Form 10-K, filed with the Securities and Exchange Commission (SEC) as well as the Company's other SEC filings, available on the SEC website or www.newmont.com Goldcorp's most recent annual information form as well as Goldcorp's other filings made with Canadian securities regulatory authorities and available on SEDAR, on the SEC website or www.goldcorp.com. Newmont is not affirming or adopting any statements or reports attributed to Goldcorp (including prior mineral reserve and resource declaration) in this release or made by Goldcorp outside of this release. Goldcorp is not affirming or adopting any statements or reports attributed to Newmont (including prior mineral reserve and resource declaration) in this presentation or made by Newmont outside of this presentation. Newmont and Goldcorp do not undertake any obligation to release publicly revisions to any "forward-looking statement," including, without limitation, outlook, to reflect events or circumstances after the date of this release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued "forward-looking statement" constitutes a reaffirmation of that statement. Continued reliance on "forward-looking statements" is at investors' own risk.
Additional information about the proposed transaction and where to find it
This release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. This release is being made in respect of the proposed transaction involving the Company and Goldcorp pursuant to the terms of an Arrangement Agreement by and among the Company and Goldcorp and may be deemed to be soliciting material relating to the proposed transaction. In connection with the proposed transaction, the Company will file a proxy statement relating to a special meeting of its stockholders with the SEC. Additionally, the Company will file other relevant materials in connection with the proposed transaction with the SEC. Security holders of the Company are urged to read the proxy statement regarding the proposed transaction and any other relevant materials carefully in their entirety when they become available before making any voting or investment decision with respect to the proposed transaction because they will contain important information about the proposed transaction and the parties to the transaction. The definitive proxy statement will be mailed to the Company's stockholders. Stockholders of the Company will be able to obtain a copy of the proxy statement, the filings with the SEC that will be incorporated by reference into the proxy statement as well as other filings containing information about the proposed transaction and the parties to the transaction made by the Company with the SEC free of charge at the SEC's website at www.sec.gov, on the Company's website at www.newmont.com/investor-relations/default.aspx or by contacting the Company's Investor Relations department at jessica.largent@newmont.com or by calling 303-837-5484. Copies of the documents filed with the SEC by Goldcorp will be available free of charge at the SEC's website at www.sec.gov.
Participants in the proposed transaction solicitation
The Company and its directors, its executive officers, members of its management, its employees and other persons, under SEC rules, may be deemed to be participants in the solicitation of proxies of the Company's stockholders in connection with the proposed transaction. Investors and security holders may obtain more detailed information regarding the names, affiliations and interests of certain of the Company's executive officers and directors in the solicitation by reading the Company's 2017 Annual Report on Form 10-K filed with the SEC on February 22, 2018, its proxy statement relating to its 2018 Annual Meeting of Stockholders filed with the SEC on March 9, 2018 and other relevant materials filed with the SEC when they become available. Additional information regarding the interests of such potential participants in the solicitation of proxies in connection with the proposed transaction will be set forth in the proxy statement filed with the SEC relating to the transaction when it becomes available. Additional information concerning Goldcorp's executive officers and directors is set forth in its 2017 Annual Report on Form 40-F filed with the SEC on March 23, 2018, its management information circular relating to its 2018 Annual Meeting of Stockholders filed with the SEC on March 16, 2018 and other relevant materials filed with the SEC when they become available.
For further information please contact:
INVESTOR CONTACT
MEDIA CONTACT
Shawn Campbell
Goldcorp Investor Relations
Telephone: (800) 567-6223
E-mail: info@goldcorp.com
Christine Marks
Goldcorp Corporate Communications
Telephone: (604) 696-3050
E-mail: media@goldcorp.com
NEWMONT INVESTOR CONTACT
NEWMONT MEDIA CONTACTS
Jessica Largent
Newmont Investor Relations
Telephone: (303) 837-5484
E-mail: jessica.largent@newmont.com
Omar Jabara
Newmont Communications
Telephone: (303) 837-5114
E-mail: omar.jabara@newmont.com
_____________________
i
Anticipated annualized dividends represents management's current expectations and are "forward-looking statements". See cautionary statement above regarding forward-looking statements. 2019 dividends have not yet been approved or declared by the Board of Directors. Investors are cautioned that such statements with respect to future dividends are non-binding. The declaration and payment of future dividends remain at the discretion of the Board of Directors and will be determined based on Newmont's financial results, balance sheet strength, cash and liquidity requirements, future prospects, gold and commodity prices, and other factors deemed relevant by the Board. The Board of Directors reserves all powers related to the declaration and payment of dividends. Consequently, in determining the dividend to be declared and paid on the common stock of the Company, the Board of Directors may revise or terminate the payment level at any time without prior notice. As a result, investors should not place undue reliance on such statements.
Cision View original content:
http://www.prnewswire.com/news-releases/newmont-and-goldcorp-combine-to-create-worlds-leading-gold-company-300777487.html
SOURCE Goldcorp Inc.
I am a long time holder, at this time very happy.
chevy56
GLTA
GG and NEM to merge---one of the MA'S being talked about recently...its ok I got more on DAN and am holding for more
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Goldcorp Inc., NYSE: GG
Goldccorp Since 1910, over 19.5 million ounces of gold
have been recovered from the Hollinger Mine -
while about 10.8 million ounces were recovered from
the McIntyre Mine -
along with 67,000 tons of copper....
more info....
http://www.porcupinegoldmines.ca/en/ouroperations/hollinger.asp
http://www.goldcorp.com/operations/porcupine/
http://www.goldcorp.com
http://www.goldcorp.com/company/
Suite 3400-666 Burrard Street
Park Place
Vancouver, BC V6C 2X8
(604) 696-3000 begin_of_the_skype_highlighting (604) 696-3000 end_of_the_skype_highlighting
(604) 696-3001 begin_of_the_skype_highlighting (604) 696-3001 end_of_the_skype_highlighting
info@goldcorp.com
http://www.goldcorp.com
www.ivarkreuger.com/metalcharts.htm
Goldcorp GG in yellow Daily Chart 10 year compared to Barrick Gold ABX in black and Newmont NEM in blue -
Goldcorp dividends -
http://www.goldcorp.com/investors/financials/
http://www.goldcorp.com/investors/presentations/
www.ivarkreuger.com/metalcharts.htm
Rothschild World Part 3 "All Enemies both Foreign and Domestic"
Daily One-Year Charts
RED LAKE |
The Red Lake Gold Mine is composed of two operating complexes: the Red Lake Complex and the Campbell Complex. Red Lake Gold mine is Canada's largest gold mine, and in 2007 produced 700,600 ounces. It is also one of the world's richest gold mines and lowest cost producers. The Campbell Complex has been in continuous operations since 1949, producing over 11 million ounces. |
www.goldcorp.com/operations/red_lake_mine/
Weekly Five-Year Charts
Gold Daily
Gold Weekly
Inflation Calculator
data.bls.gov/cgi-bin/cpicalc.pl
Gold $2,400.- per ounce - 500years ago - add inflation - it is a long hike back UP to fair market value - compare to any fiat paper -
The three historical comparisons above (and see chart below) would put gold anywhere from $6,000 to $10,000 and this is without inflation, or more likely hyperinflation. In a hyperinflationary environment, the price gold will go to is really irrelevant since it depends on how much money is printed. In the Weimar Republic for example gold went to DM 100 trillion. What is more important is that gold is likely to go up at least 5 times from today without inflation and with hyperinflation gold will protect investors against the total destruction of paper money and many other assets.
http://www.goldcorp.com
TIA
God Bless
WELCOME ~
This board is for fundamental and technical discussion about Goldcorp Inc., GG ~ Gold Mining enjoy it ~
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