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Newmont Announces $1.0 Billion Share Repurchase Program
NEM | January 14, 2021
https://www.newmont.com
Is Tesla signaling a move into gold? Could this be a new trend for
companies sitting on a pile of cash?
By: Kitco | February 9, 2021
Bitcoin got all the attention after Tesla CEO Elon Musk announced a $1.5 billion investment in the cryptocurrency. But there was another major change to the company's policy regarding cash holdings, and gold investors need to take notice.
Monday, not only did Tesla announce that it was investing in bitcoin and accepting bitcoin as payment for its vehicles, but the company also said that it could potentially invest in gold and gold-backed exchange-traded products.
"We may invest a portion of such cash in certain alternative reserve assets including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future," the company said in a filing with the Securities Exchange Commission.
The company said that it is looking at alternative assets as a hedge against growing currency risks in the marketplace.
"We transact business globally in multiple currencies and have foreign currency risks related to our revenue, costs of revenue, operating expenses and localized subsidiary debt denominated in currencies other than the U.S. dollar," the company said in its filing. "If we do not have fully offsetting revenues in these currencies and if the value of the U.S. dollar depreciates significantly against these currencies, our costs as measured in U.S. dollars as a percent of our revenues will correspondingly increase and our margins will suffer."
William Cai, a partner at Wilshire Phoenix, a company developing a new gold-backed ETF, said that while he doesn't see Tesla jumping into the gold market with both feet anytime soon, this is an important example of alternative assets gaining further acceptance in mainstream markets.
Cai added that with inflation expectations starting to rise, it's not surprising that a company like Tesla is looking to hedge some of its currency risks. He said that this could trigger a new trend in the marketplace.
"A lot of companies around the world are just sitting on piles of cash," he said. "As we start to see purchasing power erode, this cash position is not without risk. I don't see this as a game-changer for gold, but it adds another strong supportive element to the marketplace."
This kind of a move could only happen in the current low interest rate environment, said Guardian Vaults Business Development Manager John Feeney.
"Low interest rates changed financial markets completely. Cash is getting thrown at anything," he told Kitco News. "That doesn't happen with interest rates at 3%-4%. There is no incentive to hold cash, and everyone is looking for alternatives, including bitcoin and gold."
Cash is not earning anything at the moment, and people like Musk are looking at alternative assets, and gold is one of them.
"When you see someone like Musk, who is willing to pay pretty large risky bets, looking at cash in his bank account, earning nothing, he is starting to think about other alternatives. He has chosen bitcoin now. But it would be interesting to see if gold or silver would come into the mix later on," Feeney said.
In a world where central banks are maintaining ultra-accommodative monetary policies, gold continues to be an attractive safe-haven asset, Cai pointed out.
"With bond yields where they are, it makes sense to hold some gold as a bit of a hedge," he said. "Elon Musk is this trendsetter, and other companies are looking at him, and some will probably think this new move is a good idea. In an environment of low interest rates and falling purchasing power, companies are going to have to start getting creative to protect their capital."
As to the debate between gold and bitcoin, Cai said that while they are both important assets, cryptocurrencies are still a little too volatile to have the same safe-haven appeal as gold.
"I think bitcoin has the potential to be a safe-haven asset like gold, but it's going to take a little bit more time to establish itself," he said.
While Tesla's investment in bitcoin has pushed prices to new highs above $48,000, Cai said that he thinks it's only a matter of time before gold prices reach new highs above $2,000.
Rising inflation pressures will continue to be an essential factor behind gold's new rally. However, Cai noted that he sees other vital catalysts in the marketplace, including a potential correction in equity markets, renewed economic weakness as nations continue to deal with the COVID-19 pandemic and a weaker U.S. dollar.
"Regardless of where gold prices are going, it is definitely an important component of anyone's investment portfolio," he said.
Ps.
Newmount should buy MMY bargain producer of gold & silver -
$Monument Mining Limited (MMY.VN) 100% BUY BARCHART OPINIONS -
0.125 +0.005 (+4.17%) 02/05/21 [TSX Venture]
BARCHART OPINION $Overall Average:
100% BUY $indicators.
$Signal Strength is a long-term measurement of the historical strength
of the Signal, while $Signal Direction is a short-term (3-Day)
measurement of the movement of the Signal.
$MMY- $70 mil in assets and only a $42 mil market cap? NO DEBT! )
https://www.barchart.com/stocks/quotes/MMY.VN/opinion
$Way undervalued and oversold - 5 bagger + + + + ? or more -
$Precious Metals Expert DAVID MORGAN of "The Morgan Report"
joins Michelle to explain the Silver Short Squeeze, which has
caused Hedge Funds to lose billions as the general public is
catching on to Wall Street's games!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161590519
Newmont in new US$1B share buyback -
Newmont has announced a new US$1 billion share buyback programme that looks
to add more flexibility to its industry-leading capital return strategy.
The open-market share repurchase programme over the next 18 months builds on 2020 share buying that saw about $1 billion of shares repurchased.
Newmont aims to return 40-60% of free cash flows above those generated from a base $1,200/oz gold price. It assesses the dividend policy twice a year based on a review of the gold price.
Newmont said its capital allocation strategy aimed to find a balance between steady reinvestment in the business, maintaining financial strength and flexibility, and providing sector-leading returns to shareholders.
"The share repurchase programme is among a number of tools we have the flexibility to deploy to provide the most superior set of returns to shareholders over time," said president Tom Palmer.
BMO Capital Markets' analyst Jackie Przybylowski said the buyback programme was a "meaningful" addition to the capital returns strategy yet it was affordable.
"At a flat 40c per share quarterly dividend, we expect that Newmont will distribute $1.3 billion in dividends in 2021. The addition of a $1 billion buyback (if it's completed in the calendar year) would nearly double the total capital distributed to investors. We forecast Newmont will exit 2021 at $2.5 billion net cash without the buyback, or $1.5 billion even if the full buyback is completed," she said.
Newmont will release its reserve and resource update on February 10 and report 2020 and fourth-quarter results on February 18.
Newmont recently outshone its gold rivals in the MJ Top 100 listing, retaining its title as the most valuable gold producer in 2020.
BMO has a 12-month share price target of $87 on the company.
Shares (NYSE:NEM) last traded up 2% in New York at $63.33, which capitalises it at $50.8 billion.
MMY a low cost gold producer great bargain with many gold mines worth
about 10 x the market cap > NEM should pick up MMY -
Imo!
https://investorshub.advfn.com/Monument-Mining-TSXV-MMY-13403/
https://www.monumentmining.com
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
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 Announces Musselwhite Conveyor System Achieves
Commercial Production
NEM | 6 days ago
Mine Ramping Up To Full Operations With Commissioning Of New Conveyor And Materials Handling Syste m
Today, Newmont Corporation (NYSE: NEM, TSX: NGT) announced the successful completion of two key projects at its Musselwhite mine at Lake Opapimiskan, Ontario, Canada, with the full commissioning of the mine’s conveyor system and the material handling project.
“I am extremely proud of the work that has been completed by the team at Musselwhite to safely deliver these two critical projects, whilst managing through the unprecedented challenges caused by COVID-19,” said Newmont’s President and CEO Tom Palmer. “Musselwhite is an important part of our North America region, and with the commissioning of these two projects is positioned to contribute to Newmont’s portfolio for many years to come.”
The conveyor system and the material handling systems work in association to efficiently move material from deeper mine levels to the surface. Haul distances are reduced as the ore crushed at depth will be hoisted from the underground crushers to the conveyor system and brought to the surface for processing.
About Newmont
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.
At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Musselwhite mine visit www.newmont.com .
View source version on businesswire.com: https://www.businesswire.com/news/home/20201202005362/en/
Media Contact
Courtney Boone
303.837.5159
courtney.boone@newmont.com
Investor Contact
Eric Colby
303.837.5724
eric.colby@newmont.com
Business Wire
December 2, 2020 - 5:45 AM PST
Tags:
GOLD INDUSTRIAL METALS & MINERALS
1
MMY a low cost gold producer great bargain with many gold mines worth
about 10 x the market cap > NEM should pick up MMY -
Imo!
https://investorshub.advfn.com/Monument-Mining-TSXV-MMY-13403/
https://www.monumentmining.com
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
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 Ranked Top Gold Miner in DJSI World Index
Nov 16th 2020
DownloadPDF Format (opens in new window)
DENVER--(BUSINESS WIRE)-- For the 13th year in a row,
Newmont Corporation (NYSE: NEM, TSX: NGT) joins the Dow Jones Sustainability™ World Index (DJSI World), representing the top 10% of the globe’s largest 2,500 companies in the S&P Global Broad Market Index. DJSI World membership is based on long-term economic factors, as well as leading environmental, social and governance (ESG) performance evaluated through the 2020 SAM Corporate Sustainability Assessment (CSA).
The 2020 CSA results also place Newmont as the top-ranked gold miner for the sixth consecutive year. The ranking is based upon Newmont’s performance in calendar year 2019. Newmont recently announced industry-leading greenhouse gas emissions reduction goals of 30% by 2030, with the ultimate goal of being net zero carbon emissions by 2050.
“Newmont’s commitment to ESG is fundamental, it is part of the company’s fabric and history, and is essential to our license to operate,” said Tom Palmer, President and CEO of Newmont. “I am extremely proud of our employees for their strong commitment to our purpose of creating value and improving lives through sustainable and responsible mining. We are honoured to continue our DJSI World membership, and to have earned top gold miner distinction in the CSA. This honour comes with the recognition that we must continue to challenge ourselves to further improve and deliver on our commitments for all of our stakeholders.”
The CSA assesses companies’ quality of management and future performance potential by evaluating 24 categories of financially material sustainability information. The results allow investors to integrate ESG factors into their investment decisions, and identify those companies that are well-positioned to address current and future sustainability-driven challenges and opportunities.
In addition to top gold miner ranking, Newmont earned top decile performance in 19 of the 24 CSA performance categories, and 100th percentile results for sector-leading practices in the following areas:
Economic: corporate governance, materiality and codes of business conduct
Environmental: environmental reporting and management of water-related risks
Social: social reporting
“We congratulate Newmont Corporation for being included in the DJSI World index. A DJSI distinction is a reflection of being a sustainability leader in your industry. With a record number of companies participating in the 2020 Corporate Sustainability Assessment and more stringent rules for inclusion this year, this sets your company apart and rewards your continued commitment to people and planet,” said Manjit Jus, Global Head of ESG Research and Data, S&P Global.
About Newmont
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.
Newmont’s purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont’s sustainability strategy and initiatives, go to Beyond the Mine at www.newmont.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20201116005807/en/
Media Contact
Courtney Boone
303.837.5159
courtney.boone@newmont.com
Investor Contact
Eric Colby
303.837.5724
eric.colby@newmont.com
Source: Newmont Corporation
MMY a low cost gold producer great bargain with many gold mines worth
about 10 x the market cap > NGT should pick up MMY -
Imo!
https://investorshub.advfn.com/Monument-Mining-TSXV-MMY-13403/
https://www.monumentmining.com
In GOD We Trust - Real Money -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
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 reports best quarter in its history on rising gold price
Neils Christensen Neils Christensen
Thursday October 29, 2020 07:57
Kitco NewsShare this article:
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(Kitco News) - The world's largest gold miner said that it saw record profits in the third quarter, according to its earnings report released Thursday morning.
In its quarterly earnings reports, Newmont Corp. (NYSE: NEM) reported an adjusted net income of $697 million or $0.86 per diluted share, compared to $292 million or $0.36 per diluted share in the prior-year quarter. Earnings slightly beat analyst consensus forecasts.
The company said that it saw record revenue between July and September, generating $1.6 billion of cash from continuing operations and $1.3 billion of Free Cash Flow.
"Revenue increased 17% from the prior-year quarter to $3,170 million primarily due to higher average realized gold prices, partially offset by lower gold sales volumes," the company said.
"This was the best quarterly financial performance in Newmont's history. We also remain focused above all else on protecting the health, safety and wellbeing of our workforce and neighboring communities as the pandemic continues," said Tom Palmer, president and chief executive officer, in a prepared statement.
"As demonstrated by our second dividend increase this year, with a 79 percent increase in January and a further 60 percent increase in October, I am confident that our world-class portfolio is best positioned to generate industry-leading value and returns for our shareholders," he added.
The company's record earnings come as it saw a drop in production. Newmont said that it produced more than 1.5 million attributable ounces of gold, down about 6% compared to the third quarter of 2019.
Newmont said that production was down primarily due to ongoing Covid-related impacts at Yanacocha, Cerro Negro, and Éléonore. The operations continued to ramp up in the third quarter from care and maintenance. The mines were shut down in the second quarter because of lockdown measures governments enacted to slow the spread of the COVID-19 pandemic.
However, the company reported an average realized gold price of $1,913, an increase of $437 per ounce over the prior year quarter.
By Neils Christensen
For Kitco News
Contact nchristensen@kitco.com
www.kitco.com
$10,000 Gold Is the Ultimate Endgame, Says Gabelli Funds Analyst
35,417 views•Oct 26, 2020
Agnico joins Newmont on Orosur's Anza Project in Colombia
coins currency investment insurance business finance company
Business and finance
Pexels
https://www.sharecast.com/news/aim-bulletin/agnico-joins-newmont-on-orosurs-anza-project-in-colombia--7660398.html
Orosur Mining Inc
10.20p
16:20 30/09/20
87.16%
4.75p
Orosur Mining announced on Wednesday that it has been informed by Newmont that it has entered into a joint venture agreement with Agnico Eagle Mines, under which the two companies would jointly assume and advance Newmont's prior rights and obligations over the Anzá Project in Colombia on a 50-50 basis, with Agnico as operator of the joint venture.
FTSE AIM All-Share
959.73
16:30 30/09/20
n/a
n/a
The AIM-traded firm said its Anzá Project was subject to an exploration agreement with a venture option dated 7 September 2018 between Orosur's 100% subsidiary Minera Anzá and Newmont Colombia.
Orosur's position with respect to the Anzá project, and all terms and conditions of the agreement, remained unchanged, the board said.
Newmont Colombia would become the joint venture vehicle between Newmont and Agnico, and its name would change to Minera Monte Águila.
Orosur said Monte Águila would assume all rights and obligations over the Anzá project that were previously held by Newmont Colombia, with Minera Anzá remaining operator of the Anzá project and conducting exploration work on behalf of Monte Águila, until Monte Águila assumes operatorship at its discretion.
“We warmly welcome Agnico to Anzá,” said chief executive officer Brad George.
“To now have two of the world's top 10 gold miners, with combined production of over 7.5 million ounces per year, investing in our project is testament to its potential and we look forward to an eventful year.”
At the close on Wednesday, shares in Orosur Mining were up 87.16% at 10.2p.
sounds good my friend [Eric]
https://soundcloud.com/sprottmoney
Newmont Corporation (NGT)
86.45 ? -0.85 (-0.97%)
Volume: 40,497 @09/18/20 11:40:25 AM EDT
Bid Ask Day's Range
86.4 86.45 85.96 - 88.0
TSX:NGT Detailed Quote
Gold reserves growth dwindling globally
4TH SEPTEMBER 2020
BY: MARLENY ARNOLDI
CREAMER MEDIA ONLINE WRITER
https://www.miningweekly.com/article/gold-reserves-growth-dwindling-globally-2020-09-04
Research agency Standard & Poor’s (S&P's) Global Market Intelligence says major gold miners globally have seen their economically mineable gold reserves decline over the last decade, owing to a lack of new discoveries and a shift away from growth strategies to margin preservation.
With top producers facing declining production profiles, shrinking reserves and a return to rising production costs, the agency is expecting many to expand organic exploration in the near term, while leveraging targeted acquisitions to supplement their depleted pipelines.
ADVERTISEMENT
Sixteen of the world's 20 largest gold miners – including top producers Newmont Corporation, Barrick Gold, AngloGold Ashanti and Kinross Gold Corporation – saw their overall remaining years of production fall over the 2010 to 2019 period.
At the end of 2019, Kinross had just nine years of remaining production, down dramatically from 24 years at the start of the period.
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S&P Global Market Intelligence has calculated each company's gold reserves changes, production changes, reserves acquisitions and divestitures, reserves developed through exploration, major discoveries, cash costs and ore grades from 2010 to 2019.
The agency reports that only two companies – Zijin Mining Group and Fresnillo – had more remaining years of production at the end of the 2010 to 2019 period than at the start, while Gold Fields’ remaining years were unchanged at 20.
During Sibanye-Stillwater’s seven years of operation since 2013, the remaining life of its reserves increased from 12 to 15 years.
Overall, the remaining years of production for the miners included in a new report by S&P Global Market Intelligence, excluding Sibanye, fell by six years over the past decade, to about 14 from 20.
The miners included in the report are Newmont, Barrick, AngloGold, Polyus, Navoi Mining and Metallurgy Combinat, Kinross, Newcrest Mining, Gold Fields, Agnico Eagle Mines, Harmony Gold, China Gold International Resources, Polymetal International, Zijin, Shandong Gold Mining Corporation, Nord Gold, B2Gold Corporation, Kirkland Lake Gold, Yamana Gold and Fresnillo.
S&P Global Market Intelligence says that, throughout the period, some miners relied mainly on acquisitions to replenish reserves or bolster production, although some of their largest deals are now viewed as overpriced, ill-timed or ultimately unfruitful.
The 20 profiled companies held 668-million ounces of gold in reserves at the end of 2019, sufficient for 14 years of production at 2019 rates. They accomplished this while increasing their aggregate production by 12%, from 37-million ounces in 2010 to 42-million ounces in 2019.
These companies replaced an average of 95% of their production over the 2010 to 2019 period, adding 397-million ounces of reserves (adjusted by 10% to account for recovery losses), while producing about 381-million ounces of gold.
Additionally, S&P Global Market Intelligence finds that, over the ten-year period, the 20 top producers spent about $69.5-billion on acquisitions and exploration, representing an average cost of $175.15/oz for the 397-million ounces of replaced reserves.
Almost three-quarters, or $51-billion, of the group’s total expenditures went to acquisitions and accounted for 53% of reserves growth, while 26% of expenditure, or $18-billion, went to exploration and accounted for 47% of reserves growth.
As reserves added through acquisition are initially much more expensive than reserves added through exploration, companies that emphasise acquisitions tend to have higher average costs for adding reserves than companies more focused on exploration, says the agency.
It states that some of the reserves growth credited to exploration was, however, derived from upgrading resources and increasing reserves at acquired projects.
Eighteen of the 20 profiled companies made acquisitions during the 2010 to 2019 period, buying 209-million ounces of gold reserves for $51.3-billion for an average cost of $245.51/oz.
Polyus and Navoi made no significant acquisitions of gold reserves during the period, but one of the top reserves buyers is Newmont, which acquired 56-million ounces of gold reserves between 2010 and 2019, at an average cost of $192/oz, mainly as a result of its acquisition of Goldcorp.
Newmont is followed by Barrick, which acquired 33-million ounces of reserves, including that of Randgold Resources, in 2019.
On a cost-per-ounce basis, Kinross paid the most for gold reserves at $8.54-billion for 9.5-million ounces, or $899.38/oz, in its acquisition of Red Back Mining and operations.
Including acquired gold resources, however, the cost for its acquisitions improves to $339.44/oz.
Sibanye had the lowest average unit cost of gold in acquired reserves at $8.02/oz, followed by Harmony at $11.35/oz.
Thirteen of the 20 companies analysed made divestitures during the period, selling 68-million ounces of gold reserves for almost $8-billion, for an average return of $116/oz.
Moreover, S&P Global Market Intelligence finds that reserves developed from exploration cost significantly less than acquired reserves over the period.
The 20 companies developed almost 188-million ounces of gold reserves by budgeting $18-billion.
“Along with adding reserves at existing mines and converting resources to reserves at projects, the gold industry's long-term success depends on finding new resources in major discoveries.
“Despite historically high exploration spending over the past decade, there has been a substantial decline in the number of new major gold discoveries, potentially constraining the long-term supply pipeline,” S&P Global Market Intelligence concludes.
EDITED BY: CHANEL DE BRUYN
CREAMER MEDIA SENIOR DEPUTY EDITOR ONLINE
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Comment Guidelines
yep and not long after the election is won.
Gold Debate: Is A New Gold Standard Coming? (Steve Forbes) -
August 23, 2020
I have read about that area many times in the past. Quite a history.
Kirkland Lake Gold Announces Strategic Alliance With Newmont
Canada For Exploration Opportunities Around Holt Complex And
Newmont's Timmins Properties
KL | 2 hours ago
TORONTO, Aug. 17, 2020 (GLOBE NEWSWIRE) --
Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the “Company”) (TSX:KL)
(NYSE:KL)(ASX:KLA) today announced that the Company and its wholly-
owned indirectly held subsidiary St Andrew Goldfields Ltd. have entered
into a strategic alliance agreement (the “Agreement”) with Newmont
Canada FN Holdings ULC (“Newmont”) with respect to exploration and
development opportunities around the Company’s Holt Complex and
Newmont’s properties in Timmins, Ontario.
Under terms of the Agreement, Newmont will pay Kirkland Lake Gold US$75 million to acquire an option (the “Option”) on certain mining and mineral rights related to the Company’s Holt Mine property. The Agreement also includes a commitment by the two companies to work together to identify additional regional exploration opportunities around their respective land positions in the region where they may be able to cooperate in the future to advance projects and create value for both companies. Under terms of the Agreement, the Option may be terminated by the Company upon the assumption of certain liabilities related to the Holt Mine property. Kirkland Lake Gold will act as manager of Strategic Alliance activities. Ownership of all infrastructure on the Holt Mine property, including the Holt Mill, is retained by Kirkland Lake Gold, and the Option does not involve the other Holt Complex assets, including the Holloway and Taylor mines.
About Kirkland Lake Gold Ltd.
Kirkland Lake Gold Ltd. is a growing gold producer operating in Canada and Australia that produced 974,615 ounces in 2019. The production profile of the Company is anchored by three high-quality operations, including the Macassa Mine and Detour Lake Mine, both located in Northern Ontario, and the Fosterville Mine located in the state of Victoria, Australia. Kirkland Lake Gold's solid base of quality assets is complemented by district scale exploration potential, supported by a strong financial position with extensive management expertise.
For further information on Kirkland Lake Gold and to receive news releases by email, visit the website at
http://www.kl.gold.com
FOR FURTHER INFORMATION PLEASE CONTACT
Anthony Makuch, President, Chief Executive Officer & Director
Phone: +1 416-840-7884, E-mail: tmakuch@kl.gold
Mark Utting, Senior Vice President, Investor Relations
Phone: +1 416-840-7884, E-mail: mutting@kl.gold
Cautionary Note Regarding Forward-Looking Information
This News Release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to the ability to increase exploration in the region pursuant to the Agreement, planned exploration programs, costs and expenditures, potential opportunities for growth and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management. These forward-looking statements include, but are not limited to, statements with respect to future exploration potential, project economics, timing and scope of future exploration, anticipated costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include, among others, risks related to international operations, risks related to obtaining the permits required to carry out planned exploration or development work, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold, as well as those factors discussed in the section entitled "Risk Factors" in the Company’s Annual Information Form, financial statements and related MD&A for the periods ended December 31, 2019 and June 30, 2020 and other disclosures of "Risk Factors" by the Company and its predecessors, which are filed with the securities regulatory authorities in certain provinces in Canada and available on SEDAR. Although the Company has attempted to identify key factors that could cause actual results to differ materially, there may be other factors that cause unanticipated and unintended results. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
GlobeNewswire
August 17, 2020 - 2:00 PM PDT
Tags:
INDUSTRIAL METALS & MINERALS
1
Globe says Moneta Porcupine Mines called "undervalued" 2020-06-05
07:56 ET -
ex....
In the News The Globe and Mail reports in its Friday, June 5,
edition that Industrial Alliance Securities analyst George
Topping says Moneta Porcupine Mines (14.5 cents) is "undervalued."
The Globe's David Leeder writes in the Eye On Equities column
that Mr. Topping notes Moneta's "desirable location in an
existing camp with many underutilized mills and
record gold prices."
Accordingly, Mr. Topping began coverage of the gold exploration
company, which owns six projects in the Timmins mining camp,
with a "buy" rating.
Mr. Topping set a share target of 35 cents.
Analysts on average target the shares at 40 cents.
Mr. Topping further notes that "insiders and major shareholders
have added 2.7 million shares through the public market,
which to us is a bullish signal."
Eric Sprott, a "renowned" gold investor, recently increased
his interest in Moneta and now holds 9 per cent of its shares.
Mr. Topping says in a note:
"As the resource grows and/or is upgraded via infill,
Moneta will undergo a multiple expansion.
We await the PEA on the project before we assign our
own metrics to a potential mining plan.
However, we see a scenario where the company could secure
toll treatment, or preferably, buy a nearby mill."
2020 Canjex Publishing Ltd. All rights reserved.
by JON72
Moneta Porcupine Mines Inc.
ME TSX Exchange 1st mining comp listed @ TSE -
The giant Au with so many great old
mining properties in Timmins Canada's richest
mining camp - may Wake UP smile) -
ex....
https://stockhouse.com/companies/bullboard?symbol=t.me&postid=31181819
Moneta Porcupine Mines Inc. ME TSX Exchange 1st mining comp listed @ TSE
- The giant Au starting to wake UP - )
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God Bless
GOLD And SILVER Prices SOAR On Bankruptcies (Peter Schiff shares why...)
593 views•Aug 16, 2020
$3,400 gold price target still intact but 'nothing goes straight up forever' - VanEck
David Lin David Lin
Tuesday August 11, 2020 16:22
Solid! Pure and solid.
Higher gold price helps Newmont generate significant free cash flow in Q2
Neils Christensen Neils Christensen
Thursday July 30, 2020 07:39
Kitco NewsShare this article:
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Higher gold price helps Newmont generate significant free cash flow in Q2
Neils Christensen Neils Christensen
Thursday July 30, 2020 07:39
Kitco NewsShare this article:
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(Kitco News) - Newmont Corporation (NYSE: NEM, TSX: NGT) , the world's biggest gold miner, said that higher gold prices helped generate significant free cash flow in the second quarter.
Thursday morning, ahead of the North American equity open, Newmont said that its net earnings for the second quarter were $412 million or $0.51 per diluted share, an increase of $411 million from the second quarter of 2019.
Adjusted net income was $261 million or $0.32 per diluted share, compared to $92 million or $0.12 per diluted share reported last year, the company added.
Newmont's earnings were relatively in line with analyst expectations.
"Revenue increased 5% from the prior-year quarter to $2,365 million primarily due to higher average realized gold prices, partially offset by lower gold sales volumes," the company said.
Because of the higher gold price, the Newmont generated $668 million of cash from continuing operations and $388 million of Free Cash Flow, the company said.
"In the second quarter, we delivered a solid financial performance with $984 million in adjusted EBITDA and $388 million in free cash flow, both substantial increases over the prior-year quarter. Our focus remains on ensuring the health, safety and wellbeing of our workforce and neighboring communities as we manage through the COVID pandemic," said Tom Palmer, president and chief executive officer in the press release.
Looking at production, Newmont said that it produced 1.3 million attributable ounces of gold in the second quarter, down about 21% compared to the second quarter of 2019. Meanwhile, the company also said that it produced 138,000 attributable gold equivalent ounces up 24% compared to last year.
The company said that it saw an average realized gold price of $1,724 an ounce in the second quarter, up 31% from 2019.
Looking at costs, the company said that all-in-sustaining costs increased 8% to $1,097 per ounce, compared to 2019.a
By Neils Christensen
For Kitco News
(Kitco News) - Newmont Corporation (NYSE: NEM, TSX: NGT) , the world's biggest gold miner, said that higher gold prices helped generate significant free cash flow in the second quarter.
Thursday morning, ahead of the North American equity open, Newmont said that its net earnings for the second quarter were $412 million or $0.51 per diluted share, an increase of $411 million from the second quarter of 2019.
Adjusted net income was $261 million or $0.32 per diluted share, compared to $92 million or $0.12 per diluted share reported last year, the company added.
Newmont's earnings were relatively in line with analyst expectations.
"Revenue increased 5% from the prior-year quarter to $2,365 million primarily due to higher average realized gold prices, partially offset by lower gold sales volumes," the company said.
Because of the higher gold price, the Newmont generated $668 million of cash from continuing operations and $388 million of Free Cash Flow, the company said.
"In the second quarter, we delivered a solid financial performance with $984 million in adjusted EBITDA and $388 million in free cash flow, both substantial increases over the prior-year quarter. Our focus remains on ensuring the health, safety and wellbeing of our workforce and neighboring communities as we manage through the COVID pandemic," said Tom Palmer, president and chief executive officer in the press release.
Looking at production, Newmont said that it produced 1.3 million attributable ounces of gold in the second quarter, down about 21% compared to the second quarter of 2019. Meanwhile, the company also said that it produced 138,000 attributable gold equivalent ounces up 24% compared to last year.
The company said that it saw an average realized gold price of $1,724 an ounce in the second quarter, up 31% from 2019.
Looking at costs, the company said that all-in-sustaining costs increased 8% to $1,097 per ounce, compared to 2019.a
By Neils Christensen
For Kitco News
Everywhere True Gold Price Is $87,500 Per Ounce -
Newmont Corporation @NewmontCorp
· 17h
Newmont is committed to developing resources in a way that protects people,
respects human rights, catalyzes local economic development and
safeguards the environment.
https://bit.ly/3cw8VSY
God Bless
Newmont Corporation (NGT)
75.14 ? -3.53 (-4.49%)
Volume: 133,649 @06/03/20 12:24:30 PM EDT
Bid Ask Day's Range
75.05 75.11 74.6 - 78.13
TSX:NGT Detailed Quote
Gold miner Newmont posts 641% jump in profit -
Company benefited from gold higher production, gold prices -
NWO Government’s coronavirus fiat-cash printing leads to higher gold demand:
Expert
https://www.foxbusiness.com/markets/newmont-corp-earnings-q1-2020
God Bless
Newmont Completes Sale of Red Lake and Realizes Cash Proceeds of $375 million
NEM | 3 days ago
DENVER
Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced it successfully completed the sale of its Red Lake complex in Ontario, Canada to Evolution Mining Limited (ASX: EVN) (Evolution) and received cash proceeds of $375 million with future contingent payments of up to an additional $100 million tied to new resource discoveries.
“We are pleased to complete the sale of Red Lake to a highly respected and responsible operator in Evolution. The transaction provides us ongoing exposure to future exploration upside, whilst we remain focused on our diverse global portfolio of 12 managed operations and two joint ventures, which includes eight world-class assets,” said Tom Palmer, President and Chief Executive Officer.
Under terms of the $100 million contingent payment, Evolution will pay Newmont $20 million for each one million ounces of new gold resources added to the existing Red Lake resource base over a fifteen year period. The contingent payment is applicable to the first five million ounces of new resources.
“Combined with the sale of our interests in Continental and KCGM, we have generated more than $1.4 billion in total cash proceeds, meeting our divestiture target of $1.0 to $1.5 billion in less than a year. These asset sales will support the continuation of our capital allocation priorities, which include strengthening our investment grade balance sheet, investing in our highest returning projects, and returning excess cash to our shareholders,” Palmer concluded.
About Newmont
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.
Gold-mining stocks are primed for success
However, I want to be crystal clear that while
I see substantial upside in physical gold,
I don't believe physical gold is
the best way to play a rise in the price of
the shiny yellow metal.
Rather, I'm a much bigger fan of buying gold-mining stocks.
In GOD We Trust -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
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
That is good news. Miners are some of the best people I have ever worked with or had the privelage to know.
Nevada Gold Mines donates $1.5m to covid-19 Task Force
MINING.COM Staff Writer | April 3, 2020 | 11:18 am Top Companies USA
https://www.mining.com/nevada-gold-mines-donates-1-5m-to-covid-19-task-force/
The FED's balance sheet blew through $5 trillion last week....
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=154651994
Newmont Soared on Profit Beat With Rising Gold Providing Tailwind -
Bloomberg
Danielle Bochove
Bloomberg February 20, 2020
Newmont Corp. climbed after the world’s largest gold miner reported
earnings that beat analysts’ expectations, helped by a tailwind from
higher bullion prices.
Miners have been sharing the windfall from stronger prices with
investors in the form of higher dividends.
Newmont led the pack in January with its promise of a 79% hike to $1
per share annually.
The increase will take effect later in the year.
Newmont is considering “other shareholder friendly actions” it might take in the future, Chief Financial Officer Nancy Buese said Thursday on the fourth-quarter earnings call. A key such action “will be to determine our appropriate level of dividend on a go forward and sustainable basis,” she said.
Newmont rose as much as 6.1%, the most intraday in almost a year, while an index of senior gold miners gained as much as 1.1%. Newmont was trading up 4.2% as of 10:58 a.m. in New York, increasing its gains in the past 12 months to 36%.
Adjusted fourth-quarter earnings were 50 cents a share on revenue of $2.97 billion, the Greenwood Village, Colorado-based miner said in its earnings statement. That beat analysts’ estimates for 46 cents and sales of $2.93 billion.
The company’s production and cost guidance over the next five years was unchanged, solidifying its lead over rival Barrick Gold Corp.
Spot gold averaged about $1,483 an ounce in the fourth quarter, 21% more than a year earlier. The metal has extended gains this year to trade above $1,600 as the coronavirus weighs on expectations for economic growth, fueling investor demand for haven assets.
The rise in gold prices helped mitigate higher cost of sales at the assets it acquired through its $10 billion merger with Goldcorp Inc. last year.
(An earlier version corrected revenue and the revenue estimate in sixth paragraph)
To contact the reporter on this story: Danielle Bochove in Toronto at dbochove1@bloomberg.net
To contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Steven Frank, Reg Gale
For more articles like this, please visit us at bloomberg.com
Subscribe now to stay ahead with the most trusted business news source.
In GOD We Trust -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
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 to Reduce Board Size -
NEM |
DENVER
Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) announced today that its Board of Directors (Board) plans to reduce the number of Directors from 15 to 11, effective following the Annual Meeting of Stockholders on April 21, 2020, with the completion of the Goldcorp integration.
The Corporate Governance and Nominating Committee and the Board determined that reducing the size of the Board strikes the right balance between promoting robust dialogue and accountability while ensuring diverse expertise, perspectives and skills. Five directors, including Cristina Bitar, Beverley Anne Briscoe, Sheri E. Hickok, Clement Pelletier and Charles Sartain, are retiring from the Board upon completion of their terms at the Annual Meeting on April 21, 2020.
“These skilled directors have faithfully served the Company through a critical period of transition. They made valuable contributions to our Board’s deliberations, including the oversight of the integration of Goldcorp’s assets into Newmont’s portfolio,” said Board Chair Noreen Doyle. “The Board and management are grateful for their service.”
One new nominee, Maura Clark, will be added to the slate at the Annual Meeting in April, which will comprise 10 independent directors. Maura is an experienced director and has a comprehensive knowledge of finance, strategic development and operations.
As part of sound succession and governance practices, the Board has also determined that Greg Boyce will be appointed Vice Chair, effective April 21, 2020. As Vice Chair, Greg will support Noreen Doyle in connection with Board and strategic oversight and governance matters, and both will work closely together over the next year towards a smooth Board leadership transition. “I appreciate the commitment of our Board to ensuring proper oversight and governance reflective of Newmont’s values,” said Tom Palmer, President and Chief Executive Officer.
The composition of the slate of proposed Directors for election at the 2020 Annual Meeting continues to reflect the Board’s commitment to diversity, with more than 50 percent female or ethnically diverse. Newmont’s Board consists of a broad range of backgrounds, experiences, talents and nationalities. As a global business, the Company benefits from the perspectives of directors who bring crucial insights and deep understanding of the activities of the business and in the jurisdictions in which Newmont operates around the world.
About Newmont
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.
Cautionary Statement Regarding Forward-Looking Statements
This press 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. 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 events or results to differ materially from future events or results expressed, projected or implied by the forward-looking statements. Forward-looking statements often address our expected future business, financial performance and financial condition and often contain words such as “anticipate,” “intend,” “plan,” “will,” “would,” “estimate,” “expect,” “believe,” “target,” “indicative,” “preliminary,” or “potential.” Such forward-looking statements may include, without limitation, statements regarding any upcoming plans to reduce the number of directors or other changes to the Board or any leadership transition (the “2020 Board”). Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect. For a detailed discussion of risks and other factors that might impact future looking statements, see Newmont’s Annual Report on Form 10-K for the year ended December 31, 2019 filed with the U.S. Securities and Exchange Commission (the “SEC”), under the heading “Risk Factors” available on the SEC’s website at www.sec.gov or on the Company’s website at www.newmont.com. Newmont does 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 press 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 and Where to Find It
The Company has filed its definitive proxy statement (the “2020 Proxy Statement”) relating to its 2020 annual meeting of stockholders (the “2020 Annual Meeting”) and accompanying solicitation materials with the SEC on March 6, 2020. Security holders of the Company are urged to read carefully in their entirety the 2020 Proxy Statement and any other relevant materials filed, or that will be filed, when they become available, because they contain, and will contain, important information. Stockholders of the Company are able to obtain a copy of the 2020 Proxy Statement and any other relevant documents, including the accompanying solicitation materials, from the SEC free of charge on the SEC’s website at www.sec.gov or on the Company’s website at www.newmont.com.
Participants in the proposed transaction solicitation
The Company and its directors, nominees for election as director, 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 matters to be considered at the 2020 Annual Meeting. 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 2019 Annual Report on Form 10-K filed with the SEC on February 20, 2020, its 2020 Proxy Statement filed with the SEC on March 6, 2020 and other relevant materials filed with the SEC. Additional information regarding the interests of such potential participants in the solicitation of proxies in connection with the 2020 Annual Meeting is set forth in the 2020 Proxy Statement.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200309005206/en/
Media Contact
Omar Jabara 303-837-5114 omar.jabara@newmont.com
Investor Contact
Jessica Largent 303-837-5484 jessica.largent@newmont.com
Copyright Business Wire 2020
Business Wire
March 9, 2020 - 4:45 AM PDT
Tags:
GOLD INDUSTRIAL METALS & MINERALS
BTW. A penny stock tip:
All the mines that have been developed, around those mines,
in Abitibi for example, there’s a lot of potential,”
Guilbault told Kitco News on the sidelines of
the Xplor Mining Convention in Montreal.
http://abcourt.com/
https://abcourt.com/miningproperties/
https://investorshub.advfn.com/Abcourt-Mines-Inc-ABMBF-29448/
Newmont to become clear gold industry leader -
Surging gold prices propel earnings at Newmont, Kirkland Lake Gold (TSX:KL)
Reuters | February 20, 2020 | 4:15 pm Markets Top Companies Gold
Mine trucks at Newmont’s Porcupine mines. (Image courtesy of Newmont Goldcorp | Flickr)
Surging gold prices propelled miners Newmont and Kirkland Lake Gold to beat estimates for quarterly profit on Thursday as industry consolidation began to bear fruit for long-suffering shareholders.
Gold prices marked their best annual increase since 2010 last year and are currently above $1,600 per ounce, as concerns over global economic health, low interest rates and geopolitical tensions triggered investor interest in safer assets.
Newmont, Kirkland and others have snapped up rivals in a flurry of deals to replace reserves and lower costs, and are now rewarding investors by hiking payouts and buying back shares.
“That’s what’s going to bring people back to the space,” said Maria Smirnova, portfolio manager at precious metals-focused fund manager Sprott Inc. “We need to show people that mining companies can make money, and not just destroy capital.”
NEWMONT, KIRKLAND AND OTHERS HAVE SNAPPED UP RIVALS IN A FLURRY OF DEALS TO REPLACE RESERVES AND LOWER COSTS
Kirkland Lake, fresh from acquiring rival Detour Gold, said on Thursday it would double its annual dividend to $0.50 per share and repurchase 20 million of its common shares over two years as it steps up exploration.
Kirkland bumped 2020 spending to $500 million compared with $245 million previously
Russia’s Air Force shelling militants backed by Turkey (Full show)
5,598 views •Feb 20, 2020
Newmont Reports 2019 Gold Mineral Reserves of 100 Million Ounces, Largest in Company History
DENVER
Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) reported gold Mineral Reserves (reserves) of 100.2 million attributable ounces for 2019 compared to 65.4 million ounces at the end of 2018, an increase of 53 percent after successfully completing two historic transactions and through ongoing exploration success.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200213005222/en/
Percentage of Gold Reserves by Jurisdiction (North America includes Nevada)
Percentage of Gold Reserves by Jurisdiction (North America includes Nevada)
“Newmont has the largest gold reserve base in the industry underpinned by our world-class ore bodies in top tier jurisdictions. In 2019, we added almost 50 million ounces of gold reserves through the acquisition of Goldcorp, formation of the Nevada Gold Mines joint venture and the continuation of our leading exploration program,” said Tom Palmer, President and Chief Executive Officer. “Our reserve and resource base will support stable production of more than 6 million ounces per annum for decades to come.”
Key highlights and differentiators:
Industry’s largest gold Mineral Reserves of 100.2 million ounces
Gold reserves located in top-tier jurisdictions with 88 percent in Americas and Australia
Gold reserve life at operating sites of >10 years underpinned by a strong base at Boddington, Tanami, Ahafo, Peñasquito, and Nevada Gold Mines, and further enhanced from our eight other operating mines and equity ownership in Pueblo Viejo
Significant gold reserves per share with 124 ounces per 1,000 shares
Tanami added 1.5 million ounces of gold reserves, 1.1 million ounces of Measured and Indicated gold resources and 1.6 million ounces of inferred resource
Stable production profile underpinned by long life operating assets such as Boddington with 14 years; Tanami and Peñasquito with 12 years and Ahafo with 11 years
Significant exposure to copper, silver, zinc, and lead with 63 million gold equivalent ounces (GEO)1
Measured & Indicated gold Mineral Resources of 76.7 million ounces; Inferred of 31.3 million ounces
Reported figures include Red Lake and the Company’s 50 percent interest in Kalgoorlie Consolidated Gold Mines (KCGM). Newmont successfully completed the sale of KCGM in January 2020 and expects to close the divestment of Red Lake in the first quarter of 2020. Combined, these sites represented approximately 4.5 million ounces of gold reserves and 2.6 million ounces of Measured and Indicated gold Mineral Resources (resources), bringing Newmont’s adjusted 2019 gold Mineral Reserves to 95.7 and Measured and Indicated gold Mineral Resources2 to 74.1 million ounces.
Newmont’s reserve base is a key differentiator with 88 percent of gold reserves located in top-tier jurisdictions in the Americas and Australia, an operating reserve life of more than 10 years and average reserve grade of 1.05 grams per tonne. In addition, Newmont significantly increased its exposure to other metals, with an estimated 63 million gold equivalent ounces1 from copper, silver, zinc, lead and molybdenum.
In 2019, Newmont reported 100.2 million ounces of gold Mineral Reserves and 95.7 million ounces after adjusting for the KCGM and Red Lake divestments.
The Company added 42.2 million net ounces of gold reserves through its acquisition of Goldcorp and formation of the Nevada Gold Mines (NGM) joint venture, after adjusting for revisions at select Goldcorp operating sites, which were assessed using Newmont’s rigorous technical standards.
As previously disclosed, the Coffee project and Dome pit as part of the Century project were reclassified from Mineral Reserves to Mineral Resources, due to Feasibility study requirements. The project revisions were 1.7 million ounces and 4.4 million ounces, respectively.
Additions before revisions of 7.4 million ounces through exploration exceeded the Company’s target demonstrating drilling success and the prospectivity across the portfolio. Notable reserve additions for the year included: 2.5 million equity ounces from NGM, 1.5 million ounces at Tanami, 0.7 million equity ounces at NuevaUnión, 0.5 million ounces at Merian and 0.4 million ounces at Ahafo underground. Additions nearly offset depletion of 7.7 million contained ounces, which corresponds to Newmont’s 2019 attributable production outlook of 6.3 million ounces.
Newmont’s gold reserve grade was 1.05 grams per tonne compared to 1.19 grams per tonne in the prior year, largely due to the addition of polymetallic mines and projects including Peñasquito, NuevaUnión and Norte Abierto, which was partially offset by higher-grade reserves from the Company’s 38.5 percent equity ownership in NGM.
Newmont reported attributable Measured and Indicated gold Mineral Resources of 76.7 million ounces and 31.3 million ounces of attributable Inferred gold Mineral Resources, an increase of 95 percent and 101 percent from the prior year, respectively, at a constant gold price. Adjusted for the divestitures of KCGM and Red Lake.
Measured and Indicated gold Mineral Resources are 74.1 million ounces and Inferred gold Mineral Resources are 29.4 million ounces.
The acquisition of Goldcorp and formation of the NGM joint venture added 26.5 million net ounces of Measured and Indicated gold Mineral Resources and 13.7 million net ounces of Inferred gold Mineral Resources.
Measured and Indicated gold Mineral Resources added through exploration and studies were 7.8 million ounces and included notable additions before revisions of 1.1 million ounces at Tanami, 0.9 million equity ounces at both NGM and Pueblo Viejo, 0.8 million ounces at each of Ahafo underground, NuevaUnión and Merian (equity ounces).
Additions before revisions of 5.2 million ounces of Inferred gold Mineral Resources notably included 1.6 million ounces at Tanami, 0.8 million equity ounces at NGM, and 0.7 million ounces at Peñasquito.
Newmont’s Measured and Indicated gold Mineral Resource grade increased to 0.72 grams per tonne compared to 0.69 grams per tonne in the prior year from higher grade resources from NGM and the underground mines from the Goldcorp acquisition. Inferred gold Mineral Resource grade decreased to 0.66 grams per tonne from 1.01 grams per tonne, largely due to lower grade ounces from acquired polymetallic mines and projects.
Other Metals
Newmont’s base metal reserves increased significantly with the addition of the Goldcorp assets. Copper reserves increased to 6.8 million tonnes from 1.3 million tonnes in 2018, primarily due to the additions at the NuevaUnión and Norte Abierto projects. Copper resources increased significantly, increasing to 6.8 million tonnes of Measured & Indicated and 3.5 million tonnes of Inferred from 4.1 million tonnes of Measured & Indicated and 0.5 million tonnes of Inferred.
Silver reserves also increased significantly to 652 million ounces from 86 million ounces, primarily due to additions at Peñasquito, but also supported by NuevaUnión, Norte Abierto, Cerro Negro and Pueblo Viejo. Silver resources increased to 481 million ounces of Measured & Indicated and 217 million ounces of Inferred from 128 million ounces of Measured & Indicated and 21 million ounces of Inferred.
The Company also had first time declarations totaling 3.4 million tonnes of zinc reserves and 1.5 million tonnes of lead reserves at Peñasquito, and 0.1 million tonnes of molybdenum at NuevaUnión. First time declarations of zinc and lead resources were 1.9 million tonnes of Measured & Indicated and 1.0 million tonnes of Inferred, and 0.8 million tonnes of Measured & Indicated and 0.5 million tonnes of Inferred, respectively.
Exploration Outlook
Newmont’s total attributable exploration expenditure3 is expected to be approximately $230 million in 2020, a decrease of 13 percent from the prior year as the Company captures $25 million of exploration synergies from the Goldcorp acquisition and approximately $10 million from the divestiture of KCGM and Red Lake. Around 80 percent of total exploration investment will be dedicated to near-mine expansion programs and the remaining 20 percent will be allocated to the advancement of greenfield projects and innovation programs. Geographically, the Company expects to invest approximately 30 percent in North America, 25 percent in South America, 20 percent in Australia and the remainder in Africa and other locations.
Gold Reserve Sensitivity
A $100 increase in gold price would result in an approximate six percent increase in gold reserves while a $100 decrease in gold price would result in an approximate six percent decrease in gold reserves. These sensitivities assume an oil price of $60 per barrel (WTI), Australian dollar exchange rate of $0.75 and Canadian dollar exchange rate of $0.77.
For additional details on Newmont’s reported Gold, Copper, Silver, Zinc, Lead and Molybdenum Mineral Reserves and Mineral Resources, please refer to the tables at the end of this release.
1 Gold Equivalent Ounces calculated using Mineral Reserve pricing as shown at the end of this release and metallurgical recoveries for each metal on a site-by-site basis.
2 Totals may not sum due to rounding.
3 Includes capitalized and expensed exploration.
Key Assumptions:
Years Ended
December 31
2019
2018
Gold Reserves (US$/oz.)
$1,200
$1,200
Gold Resources (US$/oz.)
$1,400
$1,400
Copper Reserves (US$/lb.)
$2.75
$2.50
Copper Resources (US$/lb.)
$3.25
$3.25
Silver Reserves (US$/oz.)
$16.00
$16.00
Silver Resources (US$/oz.)
$20.00
$20.00
Zinc Reserves (US$/lb.)
$1.20
NA
Zinc Resources (US$/lb.)
$1.45
NA
Lead Reserves (US$/lb.)
$0.95
NA
Lead Resources (US$/lb.)
$1.15
NA
Australian Dollar (A$:US$)
$0.75
$0.75
Canadian Dollar (C$:US$)
$0.77
NA
Mexican Peso (M$:US$)
$19.50
NA
West Texas Intermediate (US$/bbl.)
$60
$65
Reserve and Resource Tables
Proven and Probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which we determine economic feasibility. Newmont’s metal price assumptions follow SEC guidance not to exceed a three year trailing average. The price sensitivity of reserves depends upon several factors including grade, metallurgical recovery, operating cost, waste-to-ore ratio and ore type. Metallurgical recovery rates vary depending on the metallurgical properties of each deposit and the production process used. The reserve tables included in this release list the average metallurgical recovery rate for each deposit, which takes into account the assumed processing methods. The cut-off grade, or lowest grade of material considered economic to process, varies with material type, price, metallurgical recoveries, operating costs and co- or by-product credits. The Proven and Probable reserve figures presented herein are estimates based on information available at the time of calculation. No assurance can be given that the indicated levels of recovery of gold, silver, copper, lead, zinc and molybdenum will be realized. Ounces of gold and silver or tonnes of copper, zinc, lead, or molybdenum included in the Proven and Probable reserves are those contained prior to losses during metallurgical treatment. Reserve estimates may require revision based on actual production. Market fluctuations in the price of gold, silver, copper, zinc, lead, or molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could render certain Proven and Probable reserves containing relatively lower grades of mineralization uneconomic to exploit and might result in a reduction of reserves.
The Measured, Indicated, and Inferred resource figures presented herein are estimates based on information available at the time of calculation and are exclusive of reserves. A “Mineral Resource” is a concentration or occurrence of solid material of economic interest in or on the Earth’s crust in such form, grade, or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories. Ounces of gold and silver or tonnes of copper, zinc, lead, and molybdenum included in the Measured, Indicated and Inferred resources are those contained prior to losses during metallurgical treatment. Market fluctuations in the price of gold, silver, copper, zinc, lead and molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could change future estimates of resources. Please refer to the reserves and resources cautionary statement at the end of the release.
We publish reserves and resources annually, and will recalculate reserves and resources at year-end 2020, taking into account metal prices, changes, if any, in future production and capital costs, mine designs, model changes, divestments and depletion as well as any acquisitions and additions during 2020.
The following technical reports are available to the public on SEDAR:
Ahafo South Operations, Republic of Ghana, NI 43-101 Technical Report, Report Effective Date: December 31, 2018
Boddington Operations, Western Australia, Australia, NI 43-101 Technical Report, Report Effective Date: December 31, 2018
Peñasquito Polymetallic Operations, Zacatecas State, Mexico, NI 43-101 Technical Report, Report Effective Date: 30 June 2018 (under Goldcorp’s SEDAR profile)
Tanami Operations, Northern Territory, Australia, NI 43-101 Technical Report, Report Effective Date: December 31, 2018
Newmont Recognized for Strong Environmental, Social and Governance Performance
4 days ago from Business Wire
DENVER
Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) was
recognized this week by a trio of independent organizations for strong
management performance and social responsibility, coordinated action on
climate related issues and advancing women in the workplace.
“Continuing to thrive in our next 100 years will require strong and
transparent corporate governance, responsible environmental
stewardship, and a diverse and inclusive workplace that allows us to
attract and retain top talent,” said
Tom Palmer, President and Chief Executive Officer.
“Aligning our business strategy with the interests of our shareholders
and stakeholders through leading ESG practices is key to creating
sustainable, long-term value in the years and decades ahead.”
FORTUNE’s World’s Most Admired Companies
Newmont was recognized as the top mining company on FORTUNE’s 2020 list of the World’s Most Admired Companies based on an in-depth global survey conducted by the magazine. Newmont posted strong scores across a number of dimensions, including quality of management, social responsibility, long-term investment, people management and innovation. FORTUNE based its rankings on the opinions of nearly 3,800 executives, directors, and securities analysts.
CDP Climate Assessment
For 2019, Newmont earned a ‘B’ in CDP’s (formerly known as the Carbon Disclosure Project) Climate Change assessment, reflecting the Company’s coordinated action on climate issues. Newmont was recognized for strong climate governance and financial planning in response to climate related impacts. With more than 8,400 companies evaluated through CDP, Newmont ranked above average for all responders in the metallic minerals mining sector and all business sectors in North America and globally.
Bloomberg’s Gender-Equality Index
For the second consecutive year, Newmont was included in Bloomberg’s Gender-Equality Index (GEI) for the Company’s efforts to advance qualified women in the workplace. Newmont is one of 325 companies, spanning 50 industries globally, to be included in this year's GEI.
In December, Newmont was ranked the top mining company in Newsweek’s first-ever list of America’s Most Responsible Companies for 2020. Of the 300 businesses selected for inclusion in Newsweek’s index, the Company placed 39th overall. In September of 2019, Newmont was the top global gold mining company on the Dow Jones Sustainability World Index (DJSI World) for the fifth consecutive year and was the overall mining and metals industry leader for four of those years. In May 2019, the Company ranked 20th on Corporate Responsibility Magazine’s (CR Magazine) 100 Best Corporate Citizens list for 2019. Newmont was the sole mining company in the top 20 and one of only two miners to make the magazine’s 20th annual list.
About Newmont
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200123005412/en/
Media Contact
Omar Jabara 303-837-5114 omar.jabara@newmont.com
Investor Contact
Jessica Largent 303-837-5484 jessica.largent@newmont.com
Copyright Business Wire 2020
Business Wire
January 23, 2020 - 5:06 AM PST
Metals & Mining | Industrial Metals & Minerals | Gold | Newmont Mining Corporation
Barrick sees gold output above estimates on Nevada boost
Reuters | January 16, 2020 | 4:45 am
Markets Top Companies Canada Gold
Barrick’s profit nearly triples, but
sees flat production for next five years
Turquoise Ridge mine in Nevada.
(Image courtesy of Barrick Gold.)
Canadian miner Barrick Gold Corp’s fourth-quarter gold production
estimates came above analysts’ expectations on Thursday, as its
Nevada Gold Mines joint venture with
Newmont Corp yielded more of the precious metal.
The company said it expects the joint venture –
the world’s biggest gold complex –
to produce 585,000 ounces of gold for the three months ended Dec. 31.
Total preliminary gold production rose 14% to 1.44 million ounces
from a year earlier, while analysts were expecting
1.40 million ounces of gold, according to Refinitiv IBES data.
NEVADA GOLD MINES JOINT VENTURE — THE WORLD’S BIGGEST GOLD COMPLEX —
IS EXPECTED TO PRODUCE 585 MILLION OUNCES OF GOLD
FOR THE THREE MONTHS ENDED DEC. 31.
Nevada Gold Mines was formed last year after Barrick pulled its $18
billion hostile bid for Newmont Corp, the world’s largest gold
producer, and combined assets with the rival.
They both expect to save more than $5 billion over the next 20 years.
Last year, Barrick also acquired Africa-focused Rangold Resources to boost its gold reserves and grades. Gold gained about 18% in 2019, fueled by investors seeking safe-haven assets on the back of global recessionary fears triggered by the long-drawn-out trade spat between the United States and China, the world’s two largest economies.
Barrick, the world’s second-largest gold producer, also benefited from the resumption of operations at its Tanzanian North Mara mine in the fourth quarter, following the lifting of restrictions at the tailings storage facility in September.
The company’s copper output gained 7.3% to 117 million pounds in the quarter, while it sold 91 million pounds of copper.
Barrick also said it expects a quarter-over-quarter decrease in total cash costs per gold ounce and all-in sustaining costs per ounce of about 1-3% and 6-8%, respectively.
US-listed shares of the miner edged higher on Thursday affording the company a market value of $32 billion.
SIGN UP FOR THE PRECIOUS METALS DIGEST
Newmont Announce Plan to Increase Annualized Dividend By 79 Percent to $1.00 Per Share
1 day ago from Business Wire
DENVER
Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) announced a plan to significantly increase its quarterly dividend by 79 percent to $0.25 per share, or an expected $1.00 per share annually, which will become effective upon approval and declaration of the first quarter dividend in April 2020. The increased sustainable dividend supports an industry leading return profile and aligns with the Company’s disciplined approach to capital allocation, which includes maintaining an investment grade balance sheet, investing in profitable growth and returning cash to shareholders.
In addition to increasing the dividend, the Company plans to continue to execute on its recently announced stock repurchase program for up to $1 billion of common equity. For the quarter ended December 31, 2019, the Company has utilized the repurchase program to retire 12.4 million shares totaling $506 million. Altogether, Newmont returned approximately $1.4 billion to shareholders in 2019.
“We are pleased to announce a planned increase to our annualized dividend by 79 percent to one dollar per share and will continue demonstrating our disciplined approach to capital allocation and the confidence we have in our business to deliver substantial future cash flows and returns for shareholders,” said Tom Palmer, President and Chief Executive Officer. “Our first quarter dividend will offer investors a highly competitive dividend yield and enhanced returns from owning shares of the world’s leading gold company.”
Newmont has the strongest and most sustainable portfolio of operations, projects and exploration prospects in the gold sector. These assets allow the Company to sequence profitable projects in its unmatched pipeline to sustain stable gold production over a decades-long time horizon in top-tier jurisdictions around the globe. Newmont enters its centenary year in May of 2020 and will begin its next century of superior performance, value creation and sustainability leadership on May 2, 2021.
The declaration and payment of future quarterly dividends remains at the discretion of the Board of Directors and will depend on the Company's financial results, cash requirements, future prospects and other factors deemed relevant by the Board.
About Newmont
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.
Cautionary Statement:
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. Forward-looking statements often contain words such as “expect,” “intend,” “plan,” and “will.” Such forward-looking statements may include, without limitation, statements or expectations regarding future dividend payments, future balance sheet strength, future production, future cash flows, future share repurchases and future shareholder value and returns. Investors are cautioned that 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 price fluctuations and other factors deemed relevant by the Board. The planned dividend increase reflects management’s expectations. However, 2020 dividends have not yet been approved or declared by the Board of Directors. 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 such dividend plans at any time without prior notice. With respect to the stock repurchase program, investors are reminded that the extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including trading volume, market conditions, legal requirements, business conditions and other factors. As such, no guarantees can be made with respect to the impact of the program. The repurchase program may be discontinued at any time, and the program does not obligate the Company to acquire any specific number of shares of its common stock. As such, no guarantees can be made with respect to the impact of the authorized program. Investors should not place undue reliance on forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200106005552/en/
Media Contact
Omar Jabara 303.837.5114 omar.jabara@newmont.com
Investor Contact
Jessica Largent 303.837.5484 jessica.largent@newmont.com
Business Wire 2020
Business Wire
January 6, 2020 - 5:24 AM PST
Metals & Mining | Industrial Metals & Minerals | Gold | Newmont Mining Corporation
GCM/TPRFF A Great Gold Bargain > Gold prices power on with new threats of war -
TPRFF used to be above $500 per share LT it has long way back UP )
720 views - Jan 7, 2020
https://www.youtube.com/watch?v=S63hZwtSbpc
Gran Colombia Gold Corp. CFO Michael Davies -
Newmont Refreshes Brand as Company Looks to Next 100 Years of Superior
Performance, Value Creation and Sustainability Leadership
DENVER
Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today
announced that the Company has refreshed its brand, name and logo to
reflect its strong and stable foundation following two historic
transactions in 2019.
The Company’s refreshed brand is being unveiled as Newmont enters its
centenary year in May of 2020 and will begin its next century of
superior performance, value creation and sustainability leadership on
May 2, 2021.
“We successfully completed two historic transactions in 2019, which have
transformed Newmont into a truly international organization with an
unmatched portfolio of assets and prospects in top-tier jurisdictions
around the world,” said Tom Palmer, President and Chief Executive
Officer.
“As this company has done many times in the past, Newmont has
demonstrated its ability to adapt to change, which is truly a hallmark
of our success over the last 100 years.
Updating our brand represents a natural step as we approach the next
100 years in Newmont’s long and proud legacy of operating discipline,
profitable growth, environmental stewardship, and developing the
industry’s best talent.”
Approaching 100 years as a global leader in mining, the “Newmont” name
is well recognized and has been an iconic brand among the S&P 500 and
various indexes.
The updated Newmont logo leverages the gold triangle from the previous
logo – which represents the apex of the industry and the pinnacle of
leadership – to anchor the strength and stability conveyed by the new
logo.
“While our proven strategy and core values remain key to our ongoing
success, we’ve updated and adapted our brand to reflect our position as
a transformed business and the world’s leading gold company,” Palmer
added.
Newmont has the strongest and most sustainable portfolio of operations,
projects and exploration prospects in the gold sector.
These assets allow the Company to sequence profitable projects in its
unmatched pipeline to sustain stable gold production over a decades-
long time horizon in top-tier jurisdictions around the globe.
VIEW TOM PALMER VIDEO AND BRANDED PHOTOGRAPHY HERE: https://www.newmont.com/BrandRefreshAssets
About Newmont
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200106005364/en/
Media Contact
Omar Jabara
303-837-5114
omar.jabara@newmont.com
Investor Contact
Jessica Largent
303-837-5484
jessica.largent@newmont.com
In GOD We Trust -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
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
Happy New Year2020
Newmont Completes Sale of Interests in KCGM and Updates 2020 Guidance and Long-Term Outlook
7 hours ago from Business Wire
DENVER
Newmont (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced it successfully completed the sale of its 50 percent stake in Kalgoorlie Consolidated Gold Mines (KCGM) to Northern Star Resources Limited (ASX: NST) (Northern Star) receiving cash proceeds of $800 million.
“Newmont is pleased to complete the sale of KCGM to Northern Star and hand over the asset in good order to a well-established gold producer with a commitment to safety, community development and responsible environmental practices,” said Tom Palmer, President and Chief Executive Officer. “Proceeds from the transaction will support Newmont’s disciplined approach to capital allocation, which includes strategically reinvesting in the business, strengthening the Company’s investment-grade balance sheet and returning cash to shareholders,” Palmer added.
Total proceeds from the transaction include a $25 million payment that gives Northern Star specified exploration tenements, transitional services support and an option to exclusively negotiate for the purchase of Newmont’s Kalgoorlie power business for a 120 day period. The $25 million payment will be credited against the purchase price for the power business or $22.5 million would be returned to Northern Star if the power business is sold to a third party.
Combined with the previously announced agreements to sell Red Lake in Canada for $375 million and the Company’s stake in Continental Gold for $260 million, Newmont has met its divestiture target of $1.0 to $1.5 billion, with more than $1.4 billion in cash proceeds expected to be received in the first quarter of 2020. The sale of KCGM further streamlines Newmont’s portfolio, with 12 top-tier assets located on four continents in the world’s most favorable gold mining jurisdictions.
Following the divestiture of KCGM, the Company is updating its 2020 guidance and long-term outlook1.
Attributable gold production2: Production guidance is expected to be 6.4 million ounces for 2020 and between 6.2 and 6.7 million ounces longer-term through 2024.
Gold costs applicable to sales (CAS):CAS guidance is unchanged at $750 per ounce for 2020 and between $650 and $750 per ounce for 2021 and 2022; CAS is expected to be between $600 and $700 per ounce for 2023 and 2024.
Gold all-in sustaining costs3(AISC): AISC guidance is unchanged at $975 per ounce for 2020 and between $850 and $950 per ounce for 2021 and 2022; AISC is expected to be between $800 and $900 per ounce for 2023 and 2024.
Capital: Attributable sustaining capital guidance has been lowered to $950 million for 2020 and between $0.9 to $1.1 billion longer-term through 2024.
Consolidated expense outlook: The 2020 outlook for general & administrative costs is unchanged at $265 million, depreciation and amortization has been lowered to $2,125 million, and investment in exploration and advanced projects has decreased to $450 million. Outlook for interest expense and adjusted tax rate remains unchanged.
_______________________________
1Outlook guidance used in this release are considered “forward-looking statements” and users are cautioned that actual results may vary; refer to the cautionary statement at the end of this release.
2Attributable gold production outlook includes the Company’s equity investment (40%) in Pueblo Viejo but does not include other equity investments.
3AISC as used in the Company’s outlook is a non-GAAP metric – see end of this release for information and reconciliation to CAS outlook.
Australia region:
Australia remains a core operating region for Newmont, and the sale of KCGM allows the Company to focus on investing in profitable growth and long-term value creation at our world class Tanami and Boddington complexes, in addition to Newmont’s active exploration campaigns across the region. The following table shows the Company’s revised production and improved cost outlook for the Australia region over the next three years.
Newmont Agrees to Sell Its Interests in KCGM to Northern Star for $800 million
Newmont Goldcorp (TSX:NGT)
Intraday Stock Chart
Today : Monday 16 December 2019
Transaction increases proceeds from 2019 asset sale agreements to $1.4 billion
Newmont (NYSE: NEM, TSX: NGT) (Newmont or the Company) has agreed to
sell its 50 percent stake in Kalgoorlie Consolidated Gold Mines (KCGM)
to Australia’s Northern Star Resources Limited (ASX: NST) (Northern
Star).
Under terms of the agreement, Newmont will receive $800 million in cash for its interests in KCGM, inclusive of a $25 million payment that gives Northern Star specified exploration tenements, transitional services support and an option to negotiate exclusively for 120 days the purchase of Newmont’s Kalgoorlie power business for fair market value.
The $25 million payment will be credited against the purchase price for the power business or returned to Northern Star if the power business is sold to a third party. The transaction is expected to close in early January following receipt of ministerial consent required under KCGM’s crown leases.
“This transaction generates exceptional value and further strengthens our financial position by increasing proceeds from our 2019 asset sale agreements to more than $1.4 billion,” said Tom Palmer, President and Chief Executive Officer. “Australia remains a core operating region for Newmont, and the sale of KCGM allows us to focus on investing in profitable growth and long-term value creation at our top-tier Tanami and Boddington complexes, in addition to our active exploration campaigns across the region. Northern Star is a well-established, Australian-based gold producer with a core competency in exploration, a commitment to community development, responsible environmental stewardship and, most importantly, excellence in safety.”
Combined with the previously announced agreements to sell Red Lake in Canada for $375 million and Newmont’s stake in Continental Gold for $260 million, the Company has meaningfully exceeded market expectations, with more than $1.4 billion in fair value cash transactions announced over the past month. Building on Newmont’s recently announced $1 billion share repurchase program,i Northern Star’s all-cash offer supports Newmont’s disciplined approach to capital allocation, which includes strategically reinvesting in the business, strengthening the Company’s investment-grade balance sheet and returning capital to shareholders. The sale of KCGM also further streamlines Newmont’s portfolio, with 12 top-tier assets located on four continents in the world’s most favorable gold mining jurisdictions.
Newmont expects to provide an update to its previously announced 2020 guidance and longer-term outlook in early 2020. In early December, Newmont provided the following 2020 outlookii for its 50 percent interest in KCGM:
Attributable gold production: 285,000 ounces
Gold costs applicable to sales (CAS): $915 per ounce
Gold all-in sustaining costs (AISC): $1,035 per ounceiii
Total capital expenditures: $25 million
Newmont has the strongest and most sustainable portfolio of operations, projects and exploration prospects in the gold sector. These assets allow the Company to sequence profitable projects in its unmatched pipeline to sustain stable gold production over a decades-long time horizon in top-tier jurisdictions around the globe.
About Newmont
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.
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 harbors provided for under such sections. Forward-looking statements used herein may include, without limitation, estimates and expectations regarding the completion and receipt of proceeds from the sale of the Company’s 50 percent stake in Kalgoorlie Consolidated Gold Mines (KCGM) to Australia’s Northern Star Resources Limited (NST), closing and receipt of proceeds from the sale of the Company’s interests in Continental, closing and receipt of proceeds from the sale of Red Lake, future return of capital to shareholders and investment in projects, future balance sheet strength, and the Company’s 2020 outook, including, without limitation, 2020 production and long-term production, CAS, AISC and capital expenditure. Where the Company expresses 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.” The sale of the Company’s interest in KCGM to NST remains conditional on approval from the Western Australian Minister for Finance, Aboriginal Affairs and Lands. If the govenmental approval is not satisfied or obtained on or before 29 February 2020, the Company or NST can terminate the agreement. The completion payment is subject to customary adjustments for working capital and other matters. The purchase of the Kalgoorlie power business and retention of the USD$25 million fee (Option Fee) remains subject to uncertainty. The option terms provide for (i) an exclusive option period of not more than 120 days (Option Period) and a right for NST to undertake due diligence of the power business during the Option Period. Additionally, the parties must negotiate in good faith to agree on the fair market value of the power business and to enter into a binding agreement before expiry of the Option Period. If the parties enter into a binding agreement during Option Period, the Option Fee will be deemed to form part of the purchase price. However if, after the expiry of the Option Period, Newmont sells the Kalgoorlie power business to a bona fide third party, then Newmont must refund the Option Fee, less USD$2.5 million in recognition of the value of the exploration tenements transferred and the cost of providing transitional services. The Continental transaction also remains subject to receipt of certain shareholder and regulatory approvals and other closing conditions. The closing of the Red Lake transaction remains contingent on the receipt of regulatory approvals and satisfaction of conditions precedent. As such, no guarantees can be made with respect to the closing of the transactions or receipt of related proceeds. Estimates or expectations of future events are based upon certain assumptions, which may prove to be incorrect. See endnotes below for assumptions related to outook. For a more detailed discussion of risks and other factors that might impact future looking statements, see the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 under the heading “Risk Factors”, filed with the U.S. Securities and Exchange Commission (the “SEC”) and available on the SEC website or www.newmontgoldcorp.com, as well as the Company’s other SEC filings, including the most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2019. The Company does 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 news 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.
__________________________________
i Investors are reminded that the extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including trading volume, market conditions, legal requirements, business conditions and other factors. The repurchase program may be discontinued at any time, and the program does not obligate the Company to acquire any specific number of shares of its common stock. As such, no guarantees can be made with respect to the impact of the program.
ii 2020 outlook projections used in this news release are considered forward-looking statements and represent management’s good faith estimates or expectations of future production results as of December 2, 2019. Outlook is based upon certain assumptions, including, but not limited to, metal prices, oil prices, certain exchange rates and other assumptions. For example, 2020 Outlook assumes $1,200/oz Au, $16/oz Ag, $2.75/lb Cu, $1.20/lb Zn, $0.95/lb Pb, $0.75 USD/AUD exchange rate, $0.77 USD/CAD exchange rate and $60/barrel WTI; AISC and CAS estimates do not include inflation, for the remainder of the year. Assumptions used for purposes of Outlook may prove to be incorrect and actual results may differ from those anticipated, including variation beyond a +/-5% range. Outlook cannot be guaranteed. As such, investors are cautioned not to place undue reliance upon Outlook and forward-looking statements as there can be no assurance that the plans, assumptions or expectations upon which they are placed will occur.
iii AISC or All-in sustaining cost is a non-GAAP metric. AISC as used in the Company’s outlook is a forward-looking statement and is therefore subject to uncertainties. AISC is defined as the sum of cost applicable to sales (including all direct and indirect costs related to current gold production incurred to execute on the current mine plan), remediation costs (including operating accretion and amortization of asset retirement costs), G&A, exploration expense, advanced projects and R&D, treatment and refining costs, other expense, net of one-time adjustments, sustaining capital and finance lease payments. See the Company’s guidance release for a reconciliation of 2020 Gold AISC outlook to 2020 Gold CAS outlook for illustrative purposes. A reconciliation has not been provided on an individual site or project basis in reliance on Item 10(e)(1)(i)(B) of Regulation S-K because such reconciliation is not available without unreasonable efforts.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191216005822/en/
Media Contact
Omar Jabara
303-837-5114
omar.jabara@newmont.com
Investor Contact
Jessica Largent
303-837-5484
jessica.largent@newmont.com
Mexico understands clean development unlike most states in the USA.
Newmont’s Peasquito Mine and Cedros Community in Mexico Agree to Water Pact
DENVER--(BUSINESS WIRE)--
Newmont (NYSE: NEM, TSX: NGT) (Newmont or the Company) announced today
that the Peasquito mine and the nearby San Juan de Cedros community
(one of 25 neighboring communities) in Zacatecas, Mexico mutually
agreed to an infrastructure solution securing sustainable water
availability for the community’s domestic and agricultural uses.
The 30-year water agreement represents a significant milestone and
an important step in the ongoing negotiations between the parties.
The agreement was developed and signed under the auspices of the
‘Dialogue Table’ sponsored by Mexico’s Federal Department of the
Interior and representatives of the state government of Zacatecas.
http://crweworld.com/article/news-provided-by-business-wire/1350454/newmonts-penasquito-mine-and-cedros-community-in-mexico-agree-to-water-pact
https://ih.advfn.com/stock-market/NYSE/newmont-goldcorp-NEM/stock-news/81350071/newmont-s-penasquito-mine-and-cedros-community-in
God Bless
Newmont Ranked Top Miner in Newsweek's List of America's Most Responsible Companies
NEM | 6 hours ago
DENVER
Newmont (NYSE: NEM, TSX: NGT) (Newmont or the Company) was ranked the top mining company in Newsweek’s first-ever list of America’s Most Responsible Companies for 2020. Of the 300 businesses selected for inclusion in Newsweek’s index, Newmont placed 39th overall with a score of 79.6 out of 100.
“Robust financial performance and effective risk management require strong, transparent governance and the integration of sustainability into all aspects of our business,” said Tom Palmer, President and Chief Executive Officer. “Although we are honored by this recognition, we understand there is always opportunity for improvement, and we will continue driving our sustainability performance to higher levels.”
Newsweek partnered with global data research firm Statista Inc. to publish the ranking. Statista evaluated 2,000 public companies to identify America’s Most Responsible Companies based on publicly available key performance indicators (KPIs) derived from CSR Reports, Sustainability Reports, and Corporate Citizenship Reports as well as an independent survey. The KPIs focused on company performance in environmental, social, and corporate governance areas. The independent survey also asked 6,500 US Citizens about their perception of companies’ activities related to corporate social responsibility.
In September, Newmont was ranked as the top global gold mining company on the Dow Jones Sustainability World Index (DJSI World) for the fifth consecutive year and in January was included in Bloomberg’s Gender Equality Index.
More information on Newmont’s safety, economic, environmental and social performance can be found in the company's annual sustainability report, Beyond the Mine. The report is published as part of Newmont’s ongoing obligations as a founding member of the International Council on Mining and Metals and in accordance with the company’s commitments under the United Nations Global Compact and the Voluntary Principles on Security and Human Rights.
About Newmont
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.
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Media Contact
Omar Jabara
303-837-5114
omar.jabara@newmont.com
Investor Contact
Jessica Largent
303-837-5484
jessica.largent@newmont.com
Copyright Business Wire 2019
Business Wire
December 5, 2019 - 5:15 AM PST
Tags:
GOLD INDUSTRIAL METALS & MINERALS
Read more at https://stockhouse.com/news/press-releases/2019/12/05/newmont-ranked-top-miner-in-newsweek-s-list-of-america-s-most-responsible#hD9TioLI14qp2eu6.99
Gold Miners Sign Record Deals Valued At Over $30 Billion This Year -
https://www.btimesonline.com/articles/122880/20191205/barrick-gold-randgold-china-gold-gold-miners-gold-price.htm
Major gold mining companies are set to extend a deal rally after sealing a record $30 billion worth of contracts this year, latest data show.
The deal spree marks the most valuable merger and acquisition binge since gold prices hit their highest peak almost 10 years ago.
Led by top producers Newmont Goldcorp Corp and Barrick Gold Corp, miners are bulking up to replace dwindling reserves and win back investors who, due to disappointing returns, have shunned the industry in recent years.
According to information from Refinitiv Eikon, this year there were 348 transactions valued more than $30.5 billion, including net debt.
That figure is up from last year's $10.8 billion, exceeding a previous $25.7 billion set in 2010, the data show. Gold topped $1,900 per ounce in 2011 and is trading around $1,484 at the moment after hitting a six-year high in September.
Cautious stance
The gold boom in 2011 prompted buyers to spend too much on acquisitions, leading to billions of impairments when prices collapsed in the years thereafter. This time, investors say they are more cautious about buyers.
The premiums associated with recent gold deals are well below those charged in the previous price bubble when the premiums were not rare at 40 percent to 50 percent.
In September, the gold investment group Paulson urged the smaller gold miners to seek zero-premium fusions to eliminate duplication and lower costs.
When it bought Africa's Randgold last year, Barrick paid no premium, while Newmont offered an 18 percent premium when it snapped Goldcorp to create the world's largest gold mining conglomerate.
More deals are likely among mid-tier miners, who are faced with pressure from activist investors to reduce costs and financial constraints, said Peter Grosskopf, chief executive officer of precious metals fund manager Sprott Inc.
Mergers galore
In a whirlwind of acquisitions this week, a $1.9 billion all-stock takeover offer for Africa-focused Centamin Plc was initiated by Canada's Endeavour Mining Corp.
A day ago, China's Zijin Mining Group Co Ltd signed an agreement to procure $1.3 billion in cash from Continental Gold Inc.
Kirkland Lake Gold Ltd. offered a buyout bid for Detour Gold for C$ 4.3 billion in November, while Saracen Mineral Holdings Ltd. took a major share at Barrick Gold in Australia's Super Pit gold mine.
"That pendulum has just begun to swing and it has much more to go," said Grosskopf, referring to more deals.
According to industry sources, among possible targets are Pretium Resources Inc, Pure Gold Mining Inc, Roxgold Inc, and Silvercrest Metals Inc.
Iamgold Inc, a Canadian producer, has also drawn attention from state-backed China Gold International Resources Corp Ltd.
Investment Industry Hall of Fame 2019 Inductee - Eric Sprott
Eric Sprott explains what investors are getting wrong about Kirkland's all-stock Detour Gold deal
'The more I reflect on Detour, I think we’re ‘stealing value’ — value that the market’s not seeing,' Sprott told the Financial Post
GABRIEL FRIEDMAN Updated: November 25, 2019
A Detour Gold mine in Cochrane, Ont. HANDOUT/TIMMINS DAILY PRESS FILES
Toronto-based Kirkland Lake Gold Ltd. on Monday announced a
multibillion dollar acquisition of Detour Gold Corp., a deal
that would elevate it into a major gold miner and
could attract new institutional investors.
The combination marries two near opposites:
Kirkland Lake operates two high grade underground mines
at some of the lowest cash costs in the sector,
whereas Detour operates a single, low grade bulk tonnage
open pit mine at comparatively higher costs.
https://calgaryherald.com/commodities/mining/eric-sprott-explains-what-investors-are-getting-wrong-about-kirklands-all-stock-detour-gold-deal/wcm/f9adea35-e43d-4398-b519-535342a012ac
In GOD We Trust -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
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
wow! That's some repurchase.
Newmont to Repurchase up to $1 Billion of Stock
https://ih.advfn.com/stock-market/NYSE/newmont-goldcorp-NEM/stock-news/81261278/newmont-to-repurchase-up-to-1-billion-of-stock
Newmont Goldcorp (NYSE:NEM)
Intraday Stock Chart
Today : Tuesday 3 December 2019
Click Here for more Newmont Goldcorp Charts.
Newmont (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced its Board of Directors has unanimously approved the authorization of a stock repurchase program for up to $1 billion of common equity to be completed in the next 12 months.1 The program will be executed at the Company’s discretion, utilizing open market repurchases to occur from time-to-time throughout the authorization period.
The Company’s stock repurchase program aligns with its disciplined capital allocation priorities, which include returning cash to shareholders, investing in profitable growth and maintaining an investment grade credit profile. All shares repurchased will be retired, resulting in immediate accretion to shareholders by reducing total shares outstanding and improving per share financial performance.
Newmont has a strong track record of delivering continuous and sustainable improvements to its operations through superior operational execution and its Full Potential program, which has generated more than $2.5 billion of total value since 2013.2 Newmont has completed its Goldcorp integration process and is now positioned to realize over $500 million per annum in total cash flow improvements by 2021 from G&A and exploration synergies, supply chain efficiencies, and Full Potential cost and productivity improvements.
“Our share repurchase program reflects the confidence we have in our people, our operations and our balance sheet to deliver substantial value upside and returns for our shareholders,” said Tom Palmer, President and Chief Executive Officer. “Working closely with our Board of Directors, we determined that current market conditions, combined with $635 million of expected cash proceeds from the sales of Red Lake and our equity investment in Continental, create a compelling opportunity to initiate our $1 billion share buyback program over the next 12 months whilst we continue to return cash to shareholders through sustainable dividends.”
About Newmont
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.
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. Such forward-looking statements may include, without limitation, statements or expectations regarding future share repurchases, accretion to shareholders reduction of shares outstanding, improvements to financial performance metrics, balance sheet strength, integration effectiveness, value creation, cash flow improvements, G&A and exploration synergies, supply chain efficiencies, and Full Potential cost and productivity improvements, expected proceeds from the Red Lake sale, and shareholder value and returns. 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.” Estimates or expectations of future events are also based upon certain assumptions, which may prove to be incorrect. The extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including trading volume, market conditions, legal requirements, business conditions and other factors. As such, no guarantees can be made with respect to the impact of the authorized program. Additionally, receipt of proceeds from Red Lake assumes closing of the transaction, which remains pending and subject to satisfaction of certain conditions precedent. For a more detailed discussion of risks and other factors that might impact future looking statements or the Company’s future performance, see the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 under the heading “Risk Factors”, filed with the U.S. Securities and Exchange Commission (the “SEC”) and available on the SEC website or www.newmontgoldcorp.com, as well as the Company’s other SEC filings, including the most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2019. The Company does 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 news 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.
________________________________
1 In connection with this Board approval, the Company’s previously authorized and disclosed stock repurchase program for 2019 of up to $100 million of common stock was terminated and replaced by the above mentioned stock repurchase program, which expires upon December 31, 2020. Investors are reminded that the extent to which the Company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors. See cautionary statement above. The repurchase program may be discontinued at any time, and the program does not obligate the Company to acquire any specific number of shares of its common stock.
2 Full Potential value creation is considered an operating measure provided for illustrative purposes, and should not be considered GAAP or non-GAAP financial measures. Full Potential amounts are estimates utilized by management that represent estimated cumulative incremental value realized as a result of Full Potential projects implemented and are based upon both cost savings and efficiencies that have been monetized for purposes of the estimation. Because Full Potential improvement estimates reflect differences between certain actual costs incurred and management estimates of costs that would have been incurred in the absence of the Full Potential program, such estimates are necessarily imprecise and are based on numerous judgments and assumptions.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191202005566/en/
Media Contact
Omar Jabara
303.837.5114
omar.jabara@newmont.com
Investor Contact
Jessica Largent
303.837.5484
jessica.largent@newmont.com
Newmont Commits to Sale of Stake in Continental Gold to Generate $260 Million in Cash Proceeds
December 02, 2019 08:50 AM Eastern Standard Time
DENVER--(BUSINESS WIRE)--
Newmont (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced it has entered into a contractual arrangement to support Zijin Mining Group’s bid to acquire Continental Gold Inc. (Continental) by selling its 19.9 percent equity stake and its convertible bond for $260 million. With the announced sale of Red Lake for $375 million, the Company expects to realize $635 million in total cash proceeds when the transactions close in the first quarter 2020.
https://www.businesswire.com/news/home/20191202005545/en
“Newmont technical teams identified the potential of the deposit and have supported Continental as it advanced Buritica toward production”
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“Newmont technical teams identified the potential of the deposit and have supported Continental as it advanced Buritica toward production,” said Tom Palmer, Newmont Chief Executive Officer and President. “While we have valued our partnership with Continental, this is an appropriate time to sell into a strong bid and remain focused on operating our world-class portfolio of assets, optimizing our leading project pipeline and investing in growing Reserves and Resources.”
Newmont intends to use proceeds from the transaction to support the Company’s priorities to return capital to shareholders, invest in profitable projects and strengthen the balance sheet.
The proposed transaction involves Newmont tendering its 19.9 percent equity stake and selling its convertible bond, thereby exiting from its shareholding in and financing arrangements with Continental. The transaction, which is expected to close in the first quarter 2020, is subject to Continental shareholder approval and certain closing conditions.
About Newmont
Newmont is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont was founded in 1921 and has been publicly traded since 1925.
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 harbors provided for under such sections. Forward-looking statements used herein may include, without limitation, estimates and expectations regarding the completion of the Zijin Mining purchase, the tender of Newmont’s equity stake and sale of convertible bond, receipt of related proceeds from the Zijin Mining transaction and the pending Red Lake sale transaction, anticipated timing of closing and receipt of cash proceeds, anticipated use proceeds, future return capital to shareholders and investment in projects, future balance sheet strength, and delivery of the Company’s business plan. Where the Company expresses 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.” The Continental transaction remains subject to the successful progression of the Zijin Mining bid, including receipt of Continental shareholder approval for the related arrangement agreement, the receipt of certain regulatory, court and stock exchange approvals and other closing conditions. The closing of the Red Lake transaction remains contingent on the receipt of regulatory approvals and satisfaction of conditions precedent. As such, no guarantees can be made with respect to the closing of the transactions or receipt of related proceeds. Estimates or expectations of future events are based upon certain assumptions, which may prove to be incorrect. For a more detailed discussion of risks and other factors that might impact future looking statements, see the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 under the heading “Risk Factors”, filed with the U.S. Securities and Exchange Commission (the “SEC”) and available on the SEC website or www.newmontgoldcorp.com, as well as the Company’s other SEC filings, including the most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2019. The Company does 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 news 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.
Contacts
Media Contact
Omar Jabara 303.837.5114 omar.jabara@newmont.com
Investor Contact
Jessica Largent 303.837.5484 jessica.largent@newmont.com
NEWMONT
NYSE:NEM View stock quote and chart View SEC Filings
Release Summary
Newmont Commits to Sale of Stake in Continental Gold to Generate $260 Million in Cash Proceeds
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Contacts
Media Contact
Omar Jabara 303.837.5114 omar.jabara@newmont.com
Investor Contact
Jessica Largent 303.837.5484 jessica.largent@newmont.com
Newmont Goldcorp Successfully Reaches Agreement to Sell Red Lake -- $375 Million in Cash Plus Up To $100 Million in Contingent Payments
NEM | 8 hours ago
DENVER
Sale further optimizes world-class portfolio while improving financial flexibility
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) has continued to streamline its asset base by entering into a binding agreement to sell the Red Lake complex in Ontario, Canada to Evolution Mining Limited (Evolution). Upon closing of the transaction, expected in the first quarter of 2020, Newmont will receive $375 million in cash and contingent payments of up to an additional $100 million tied to new resource discoveries.
“This transaction both strengthens our balance sheet and provides ongoing exposure to new discoveries at Red Lake,” said Tom Palmer, President and Chief Executive Officer. “Evolution is a highly respected and responsible gold producer who is committed to the success of Red Lake and who we believe will prove a great partner for surrounding communities and stakeholders.”
Under terms of the $100 million contingent payment, Evolution will pay Newmont $20 million for each one million ounces of new gold resources added to the existing Red Lake resource base over a fifteen year period. The contingent payment is applicable to the first five million ounces of new resources.
Newmont intends to use proceeds from the transaction to support the Company’s capital allocation priorities of returning cash to shareholders, maintaining an investment-grade balance sheet, and investing in a world-class portfolio.
Evolution Mining is a leading, growth-focused Australian gold producer. Evolution operates five wholly-owned mines – Cowal in New South Wales, Cracow, Mt Carlton and Mt Rawdon in Queensland, and Mungari in Western Australia.
Newmont has the strongest and most sustainable portfolio of operations, projects and exploration prospects in the gold sector. These assets allow the Company to sequence profitable projects in its unmatched pipeline to sustain gold production over a decades-long time horizon.
About Newmont Goldcorp
Newmont Goldcorp is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont Goldcorp is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont Goldcorp was founded in 1921 and has been publicly traded since 1925.
Legal Disclaimer and Cautionary Statement
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 harbors provided for under such sections. Forward-looking statements may be accompanied by terminology such as “will,” “expect,” “intend,” or comparable terminology. Forward-looking statements used herein may include, without limitation, estimates and expectations regarding the completion of the Red Lake sale transaction, timing of closing, receipt of related cash and contingent consideration, future success and performance of Red Lake, future balance sheet strength of the Company maintenance of an investment-grade balance sheet, anticipated use of proceeds, return of cash to shareholders, future project profitability and long-term gold production. Where the Company expresses 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.” For example, the closing of the transaction remains contingent on the receipt of regulatory approvals and satisfaction of other conditions precedent, and the timing and amount of contingent payment will also remain subject to risks and uncertainties, including whether new gold resources are added to the existing Red Lake resource base during the covered period. As such, no guarantees can be made with respect to future performance or the closing of the contemplated transaction. Estimates or expectations of future events or the Company’s future results are also 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 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 the Company operates being consistent with its current expectations; (iv) certain exchange rate assumptions being approximately consistent with current levels; (v) certain price assumptions for gold, copper, silver, zinc, lead and oil; (vi) prices for key supplies being approximately consistent with current levels; (vii) the accuracy of current mineral reserve and mineralized material estimates; and (viii) other planning assumptions. For a more detailed discussion of risks and other factors that might impact future looking statements, see the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 under the heading “Risk Factors”, filed with the U.S. Securities and Exchange Commission (the “SEC”) and available on the SEC website or www.newmontgoldcorp.com, as well as the Company’s other SEC filings, including the most recent Quarterly Report on Form 10-Q for the quarter ended September 30, 2019. The Company does 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 news 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.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20191125005807/en/
Media Contact
Omar Jabara
303.837.5114
omar.jabara@newmont.com
Investor Contact
Jessica Largent
303.837.5484
jessica.largent@newmont.com
Copyright Business Wire 2019
Business Wire
November 25, 2019 - 1:38 PM PST
Tags:
GOLD INDUSTRIAL METALS & MINERALS
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Read more at https://stockhouse.com/news/press-releases/2019/11/25/newmont-goldcorp-successfully-reaches-agreement-to-sell-red-lake--375-million#euqV6oCFjXm4Kef1.99
Not many. No info for a long time although it has been moving in a channel for a number of months. The CEO has some good connections but he is a con artist. Maybe he will do something when MJ legislation firms up giving the FDA a green light. Screwball demoRats cannot multitask . Impeachment mania sucked out all their brains.
Newmont Goldcorp Looks Forward to Partnership with Saracen at KCGM in Australia
NEM |
KCGM remains core asset for Newmont in favorable jurisdiction
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) said it looks forward to a long and productive partnership with Saracen Mineral Holdings Ltd. (Saracen) at Kalgoorlie Consolidated Gold Mines (KCGM) in Australia. Earlier today, Saracen announced an agreement to purchase Barrick Gold Corporation’s 50 percent stake in KCGM. Newmont Goldcorp will remain the operator of KCGM and continue to manage the mine according to its leading policies and standards.
“We congratulate Saracen on its agreement to purchase Barrick’s stake in KCGM and we look forward to partnering with them to continue delivering value at this world-class asset, safely and efficiently,” said Tom Palmer, President and Chief Executive Officer. “KCGM and the Golden Mile offer ongoing growth and value generating opportunities in Australia, which remains a core operating region for Newmont.”
Located in Kalgoorlie-Boulder in Western Australia, KCGM directly employs approximately 1,250 people and produced 636,000 ounces of gold in 2018. Operations began at KCGM in 1989 and the mine has produced 21 million ounces of gold over the last three decades.
About Newmont Goldcorp
Newmont Goldcorp is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont Goldcorp is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont Goldcorp was founded in 1921 and has been publicly traded since 1925.
image: https://cts.businesswire.com/ct/CT?id=bwnews&sty=20191118005448r1&sid=ntxv4&distro=nx&lang=en
View source version on businesswire.com: https://www.businesswire.com/news/home/20191118005448/en/
Media Contact
Omar Jabara
303.837.5114
omar.jabara@newmont.com
Investor Contact
Jessica Largent
303.837.5484
jessica.largent@newmont.com
Copyright Business Wire 2019
Business Wire
November 18, 2019 - 5:07 AM PST
Tags:
GOLD INDUSTRIAL METALS & MINERALS
Read more at https://stockhouse.com/news/press-releases/2019/11/18/newmont-goldcorp-looks-forward-to-partnership-with-saracen-at-kcgm-in-australia#Id3IvVXmQJ0bEXs1.99
Newmont Goldcorp Looks Forward to Partnership with Saracen at KCGM in Australia
DENVER
KCGM remains core asset for Newmont in favorable jurisdiction
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or
the Company) said it looks forward to a long and productive partnership
with Saracen Mineral Holdings Ltd. (Saracen) at Kalgoorlie Consolidated
Gold Mines (KCGM) in Australia.
Earlier today, Saracen announced an agreement to purchase Barrick Gold
Corporation’s 50 percent stake in KCGM.
Newmont Goldcorp will remain
the operator of KCGM and continue to manage the mine
according to its
leading policies and standards.
“We congratulate Saracen on its agreement to purchase Barrick’s stake in
KCGM and we look forward to partnering with them to continue delivering
value at this world-class asset, safely and efficiently,” said Tom
Palmer, President and Chief Executive Officer.
“KCGM and the Golden Mile offer ongoing growth and value generating
opportunities in Australia, which remains a core operating region for
Newmont.”
Located in Kalgoorlie-Boulder in Western Australia, KCGM directly employs approximately 1,250 people and produced 636,000 ounces of gold in 2018. Operations began at KCGM in 1989 and the mine has produced 21 million ounces of gold over the last three decades.
About Newmont Goldcorp
Newmont Goldcorp is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont Goldcorp is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Newmont Goldcorp was founded in 1921 and has been publicly traded since 1925.
View source version on businesswire.com: https://www.businesswire.com/news/home/20191118005448/en/
Media Contact
Omar Jabara
303.837.5114
omar.jabara@newmont.com
Investor Contact
Jessica Largent
303.837.5484
jessica.largent@newmont.com
good listen with Eric. I am bullish on Silver especially.
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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"
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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/
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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
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