AI
Friday, November 18, 2005 6:14:57 AM
Newmont to Invest $36.4M in Gold Field
MNG....$1.80
(BUT.....Miramar is seeking regulatory approval to begin extracting gold by late 2007.)
Thursday November 17, 6:01 pm ET
Newmont Mining Agrees to Invest $36.4 Million in Undeveloped Canadian Gold Field Through Company
DENVER (AP) -- Newmont Mining Corp., the world's largest gold mining company, has agreed to invest $36.4 million in an undeveloped Canadian gold field through a Vancouver-based company.
The investment, which equals $43.5 million Canadian, will buy a 9.9 percent stake in the stock of Miramar Mining Corp.
"We believe that this strategic relationship with Newmont is excellent added value for our shareholders," said Tony Walsh, Miramar's president and chief executive. "Not only do we now have the financial resources to move Miramar closer to our goal of becoming an intermediate gold producer, but we have access to the in-house expertise of the world's largest gold producer."
Miramar hopes to develop the Hope Bay gold belt with a project in Nunavut, the vast northern regions of Canada stretching from Alaska to Baffin Island.Miramar is seeking regulatory approval to begin extracting gold by late 2007.
"We consider Miramar's Hope Bay project to be a premier, advanced-exploration play," Newmont president Pierre Lassonde said in a written statement Wednesday. "What appeals to Newmont is Hope Bay's size potential and its location in Canada."
MNG....$1.80
(BUT.....Miramar is seeking regulatory approval to begin extracting gold by late 2007.)
Thursday November 17, 6:01 pm ET
Newmont Mining Agrees to Invest $36.4 Million in Undeveloped Canadian Gold Field Through Company
DENVER (AP) -- Newmont Mining Corp., the world's largest gold mining company, has agreed to invest $36.4 million in an undeveloped Canadian gold field through a Vancouver-based company.
The investment, which equals $43.5 million Canadian, will buy a 9.9 percent stake in the stock of Miramar Mining Corp.
"We believe that this strategic relationship with Newmont is excellent added value for our shareholders," said Tony Walsh, Miramar's president and chief executive. "Not only do we now have the financial resources to move Miramar closer to our goal of becoming an intermediate gold producer, but we have access to the in-house expertise of the world's largest gold producer."
Miramar hopes to develop the Hope Bay gold belt with a project in Nunavut, the vast northern regions of Canada stretching from Alaska to Baffin Island.Miramar is seeking regulatory approval to begin extracting gold by late 2007.
"We consider Miramar's Hope Bay project to be a premier, advanced-exploration play," Newmont president Pierre Lassonde said in a written statement Wednesday. "What appeals to Newmont is Hope Bay's size potential and its location in Canada."
Cash is King until further notice!!!
My comments on companies are usually my opinion of long term success (years). The PPS may go up or down greatly in the meantime depending on the number of greedy suckers with money.
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