Newmont Goldcorp Corp (NGT)

[NYBob]

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


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The Detour deal will provide excellent buy
opportunities and should be a very good deal and
better on the real money gold future -

What I see is DGC shareholders and some market players
cashing out the new shares they got and shorters made moves -

At the end of the day we have the same market cap as pre-merger
except now we own 15m ozs , a mine and a lot more ozs we don't
know about.

We have got an additional 600k ozs/yr in production.

This is a medium long term steal imho, I am tempted to add another
5k shares here, and my crystal ball reveal a much higher
price of the LT gold trend next 5 years -

RevT79 wrote: Kl as got the best deal ever buying detour with
is 15 millions oz reserves for.... nothing!!!
lol!!!!
they print a bunch of paper shares and bought a massive
gold producing mines.

rigth now the decrease of the SP is due to detour shareholder
weak hands selling there new shares.

How much will those 15 millions oz will be worth in 5 years...
it was shown that the grades are higher than expected on the last
quarter.
this is a great entry point to buy shares....
hopefully investors see the opportunity!
glta

Eric feel KL got Detour for a steal -


In GOD We Trust -





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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