LARGEST Gold Reserves In The World! 8,091 views World List Published on 21 Aug 2019
Check out the LARGEST Gold Reserves In The World! From the wealthiest countries with tons of gold bars to some of the biggest central banks, this top 10 list of gold reserves by country will amaze you!
Newmont Goldcorp Announces Pricing of 2.800% Senior Notes Offering Newmont Goldcorp (TSX:NGT) Today : Saturday 7 September 2019
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (formerly known as Newmont Mining Corporation) (“Newmont Goldcorp” or the “Company”) announced today the pricing of its public offering of $700 million aggregate principal amount of 2.800% senior notes due 2029 (the “Notes”). Subject to customary conditions, the offering is expected to close on September 16, 2019. The offering is being made pursuant to the Company’s shelf registration statement filed with the Securities and Exchange Commission.
Jim Rickards: $10,000 Gold Is Coming (RERUN) - 11,708 views Kitco NEWS Published on 8 Aug 2019
Gold has been one of the best performing assets in 2017, and Jim Rickards, best-selling author of Currency Wars told Kitco News that he saw even more potential for the yellow metal.
Rickards credited rising geopolitical tensions as a source of gold's tailwinds.
"People seem to have very short attention spans. I’m just looking down the road and you can see the war is coming," he said.
Newmont Goldcorp Announces Pricing of 2.800% Senior Notes Offering Newmont Goldcorp (TSX:NGT) Historical Stock Chart 1 Month : From Aug 2019 to Sep 2019
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (formerly known as Newmont Mining Corporation) (“Newmont Goldcorp” or the “Company”) announced today the pricing of its public offering of $700 million aggregate principal amount of 2.800% senior notes due 2029 (the “Notes”).
By Bailey Schulz Las Vegas Review-Journal September 17, 2019 - 7:15 pm
Don't miss the big stories. Like us on Facebook. Barrick Gold Corp. has uncovered a new discovery hole near its Fourmile project in Northern Nevada, a sign of the potential for more high-value discoveries in the region, the company’s chief executive said.
The hole points to the delivery of at least one more Tier One gold mine through the combination of Fourmile with the nearby Goldrush development project, according to a Tuesday press release. Mineralization is open in all directions, and Barrick Gold expects “significant resource growth” from continuing the step-out drilling program.
Mark Bristow, the company’s president and chief executive, said diligent exploration and detailed geological modeling had led to effective targeting at Fourmile.
“Discovery is fundamental to value creation and the latest results from Fourmile confirm the potential for further high-value discoveries in the greater Cortez – Carlin region which has been a prolific source of gold discovery and production for 150 years, and still holds an untapped wealth of geological endowment,” Bristow said in the statement.
In March, Barrick agreed to merge its assets with Newmont Mining Corp. to create the world’s largest precious metal mining operation. Fourmile was not included in the merger, but the statement from Barrick said it has the right to bring the project into the joint venture “for full market value provided certain agreed investment criteria are met.”
Bristow added that the company is on track to achieve its targets for 2019.
“Production is trending towards the top end of the 5.1 to 5.6-million-ounce guidance range while costs are likely to be at the lower end of the cost forecasts,” he said in the statement. “The market is starting to recognize and reward this performance, and it’s worth noting that the Barrick share price has increased by 90% since the Randgold deal announcement a year ago, outstripping the GDX index and the spot gold price by a wide margin.”
Details of Barrick’s five-year plan would be shared with the market when it publishes its third quarter results in November, Bristow said.
“Our aim is to make the Barrick brand synonymous with value creation. That value will be generated by its existing Top Tier operational base of long-life mines, located within world-class geological provinces and run by management teams that can unlock and bring to account opportunities where others have failed,” he said.
Barrick Gold’s stock closed up 5.38 percent on Tuesday, up $0.92 to $18.02.
Summary Gold is likely to trend higher with several fundamental triggers. Expansionary monetary policy being the key gold price catalyst.
Expecting significant EBITDA margin expansion and cash flow growth for Newmont in the coming quarters.
Dividends likely to increase in 2020 and that will translate into positive stock re-rating.
Strong fundamentals for investment towards stable production with robust cash buffer and ample leveraging headroom.
Investment Overview In the last four months, Newmont Goldcorp (NEM) has moved higher by 25.9% and this upside has largely been in-sync with gold price trending higher.
I am of the opinion that gold will continue to rally and Newmont Goldcorp is an attractive “Buy” even at current levels.
This coverage on Newmont Goldcorp will focus on the factors that can trigger a sustained rally for the stock in the next 12-18 months.
The focus of the coverage will be on factors that will boost gold prices. In addition, the coverage will discuss company specific factors from a production and balance sheet perspective.
Bullish On Gold Before discussing the fundamental factors to be bullish on gold, it is worth looking at the technical perspective. Gold was in a trading range of $1,100 an ounce to $1,300 an ounce for nearly 5 years.
Therefore, the current breakout on the upside has been after years of consolidation. I am of the opinion that the trading range now forms a strong support zone for gold on the downside. At the same time, I believe that gold is unlikely to re-visit levels of $1,100 or $1,200 an ounce.
On the contrary, the current upside can potentially take gold to all-time highs in the next 18-24 months.
Coming to the fundamental factors, the probability of recession in the United States, as predicted by the Treasury spreads, is the highest since the financial crisis of 2008-09. The Federal Reserve is back to pursuing expansionary monetary policies and it’s likely that more rate cuts are coming in 2020.
As interest rates trend lower, the dollar is likely to get weaker on liquidity glut and gold price will be supported at higher levels.
It is important to note that Euro zone is already in a manufacturing recession, the United States is in a manufacturing recession and China’s GDP growth is at the lowest level in almost 3 decades. India’s GDP growth has also been faltering.
Clearly, the downturn risk is global and the trade war hasn’t helped. In such a scenario, the expected action of central bankers globally is to pursue expansionary policy, which is bullish for gold.
Another big trigger for sustained upside for gold is purchases by central banks. For the first half of 2019, central banks made record purchase of gold amounting to $15.7 billion. The central banks of China and Russia have been active buyers and I believe that aggressive gold buying will continue. This should support gold prices on the upside.
Bullish on Newmont Goldcorp As gold price remain firm and is likely to trend higher, there are strong fundamental reasons to be bullish on Newmont Goldcorp. Some of the key factors are as follows –
First, Newmont Goldcorp expects all-in-sustaining cost of $975 an ounce for 2019. With realized gold price currently at $1,500 an ounce, I expect robust EBITDA margin expansion in the coming quarters. For the first half of 2019, the company reported operating cash flow of $870 million. With gold surging higher, I believe Newmont is positioned to close 2019 with OCF of approximately $2.0 billion. EBITDA margin expansion and strong cash flows will take the stock higher.
Second, for 2Q19, Newmont Goldcorp declared dividend of $0.14. The realized gold price for 2Q19 was $1,317 an ounce. As realized gold price increases significantly, I expect dividends to increase in 2020. This will translate into stock re-rating.
Third, as of 2Q19, Newmont Mining has a robust cash buffer of $1.8 billion with net debt to adjusted EBITDA of 1.5. Further, the company’s liquidity (including undrawn facilities) stands at approximately $5.0 billion. Therefore, with ample liquidity, leveraging headroom and potentially higher cash flows, Newmont Mining is financed for sustaining and growth capital expenditure in the coming years.
In the coming years, Newmont Goldcorp expects stable production in the range of 6 to 7 million ounces on an annual basis. However, the factors that will trigger revenue and cash flow growth are gold price upside and improvement in all-in sustaining cost. Just as an example, the company expects AISC to decline to $935 an ounce in 2020 from $975 an ounce in 2019.
Of course, one of the strategic objectives of Newmont is to growth through M&A. However, I don’t see another big M&A coming after the merger with Goldcorp. Therefore, the focus in the coming years will be to reduce cost and unlock value from existing assets.
Conclusion Newmont Goldcorp is well positioned to sustain production in the range of 6 to 7 million ounces on an annual basis. As gold trends higher, the company’s EBITDA margin will expand and free cash flow will swell. This is likely to take the stock higher.
In the next 12-18 months, I expect gold to surge further and Newmont Goldcorp will rally in-sync with gold price upside. In addition, potentially higher dividends in 2020 will also support the stock on the upside.
Overall, I believe that the rally in gold will sustain after a prolonged phase of consolidation in the precious metal. Newmont Goldcorp is well positioned to benefit from the rally, and as fundamentals improve, the stock will trend higher.
Newmont Goldcorp’s Borden Mine Achieves Commercial Production DENVER
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) today announced that the Borden mine near Chapleau, Ontario has achieved commercial production safely, on schedule and within budget. Last week, government and First Nation dignitaries helped inaugurate the mine during a ribbon cutting ceremony.
Electric underground mining vehicle at Borden. (Photo: Business Wire) Electric underground mining vehicle at Borden. (Photo: Business Wire)
The mine features state-of-the-art health and safety controls, digital mining technologies and processes, and low-carbon energy vehicles.
“Consistent project delivery and disciplined operational execution remain cornerstones of our business and are central to creating long-term shareholder value,” said Tom Palmer, President and Chief Executive Officer. “Borden joins the next generation of Newmont Goldcorp mines and leverages our leading land position to anchor this new gold district in Ontario.”
At 1,000 square kilometers, Borden’s land package represents additional exploration upside as the deposit remains open at depth in a favorable mining jurisdiction. Ore from Borden is processed at the existing mill at Porcupine in Timmins, profitably extending operations at the gold mining complex.
In recognition of Borden’s contribution to the future of safe and sustainable mining, the Canadian and Ontario governments each granted CAD$5 million towards electrification of the mine.
Over the last six years, Newmont has successfully built 12 new mines, expansions and projects on four continents – on or ahead of schedule and at or below budget. These projects, with rates of return greater than 20 percent, include Akyem and the Phoenix Copper Leach in 2013, the Turf Vent Shaft in 2015, Merian and Long Canyon in 2016, the Tanami Expansion in 2017, and Twin Underground, Northwest Exodus and Subika Underground in 2018, and the Tanami power project and Borden in 2019. The Company also completed a value-accretive acquisition of Cripple Creek and Victor in 2015 and delivered a profitable expansion at the mine in 2016.
Newmont Goldcorp has the strongest and most sustainable portfolio of operations, projects and exploration prospects in the gold sector. This includes the largest Reserves and Resources, with 90 percent of Reserves located in the Americas and Australia.i These assets allow the Company to sequence profitable projects in its unmatched pipeline to sustain six to seven million ounces of steady 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.
For a discussion of risks and other factors that might impact future looking statements, see Newmont Goldcorp’s Annual Report on Form 10-K for the year ended December 31, 2018 as well as Newmont Goldcorp’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2019 under the heading “Risk Factors” available on the SEC website or www.newmontgoldcorp.com. Newmont Goldcorp 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.
i Reserve percentages reflect both the closing of the Goldcorp transaction and Nevada Gold Mines joint venture. For information regarding Newmont’s historical reserves prepared in compliance with the SEC’s Industry Guide 7, see the Company’s Annual Report filed with the SEC on February 21, 2019, which is available at www.sec.gov or on the Company’s website. The reserves percentages represent gold reserves only, are based upon Newmont, Goldcorp and Barrick’s previously published reserve figures. Newmont’s reserves were prepared in compliance with Industry Guide 7 published by the United States SEC. Reserve figures for former Goldcorp sites and Barrick sites contributed to the Nevada Gold Mines joint venture by Barrick are sourced from Goldcorp’s and Barrick’s previously disclosed public information. Goldcorp and Barrick’s reserves were prepared in accordance with the Canadian National Instrument 43-101 (“NI 43-101”) pursuant to the requirements of the Canadian securities laws, which differ from the requirements of United States securities laws. The definitions used in NI 43-101 are incorporated by reference from the CIM Definition Standards adopted by CIM Council on May 10, 2014 (the "CIM Definition Standards"). U.S. reporting requirements are governed by the SEC Industry Guide 7, as followed by Newmont. These reporting standards have similar goals in terms of conveying an appropriate level of confidence in the disclosures being reported, but embody different approaches and definitions. For example, the terms "Mineral Reserve", "Proven Mineral Reserve" and "Probable Mineral Reserve" are Canadian mining terms as defined in NI 43-101, and these definitions differ from the definitions in Industry Guide 7. Under Industry Guide 7 standards, a "final" or "bankable" feasibility study is typically required to report reserves or cash flow analysis to designate reserves. Further, under Industry Guide 7, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. Newmont has not been involved in the preparation of Goldcorp’s or Barrick’s reserve or resource estimates. Accordingly, Newmont assumes no responsibility for Barrick’s estimates. Investors are reminded that Goldcorp reserve estimates remain subject to review and adjustment in accordance with Newmont and SEC standards. No assurances can be made that all Goldcorp reserves will be recognized as Newmont Goldcorp reserves.
Gold Price Rally And Goldcorp Acquisition Could Add $3.7 Billion To Newmont’s Revenue Base By 2020 Great Speculations Trefis Team Contributor Great SpeculationsContributor Group Markets
General Economic Imagery From Nevada Ahead Of The Republican Primary Kari Rayson, a mechanic for Newmont Mining Corp., stands next to a transmission for a heavy lift truck at the company's gold quarry mine located on the Carlin Trend west of Elko, Nevada, U.S., on Wednesday, Jan. 25, 2012. Photographer: David PaulBLOOMBERG NEWS Newmont Goldcorp (NYSE: NEM) is one of the biggest beneficiaries of the rally in gold prices this year, the effect of which is likely to be magnified due to Newmont’s acquisition of Goldcorp in early 2019. Both these factors are expected to help NEM add close to $3.7 billion to its revenue base over the next two years (by the end of 2020), in contrast to $0.6 billion added over the previous two years (2016-2018).
You can view the Trefis interactive dashboard – Newmont Goldcorp Revenues: How Does NEM Make Money? – to better understand the company business model and revenue segment, and alter the key assumptions to arrive at your own estimates for NEM’s gold and copper shipments, price realization, and revenue. In addition, here is more Materials data.
A] Newmont’s Business Model
a) What Does It Offer?
Newmont Goldcorp Corporation is a gold and copper producer with gold mining operations in the United States, Australia, Peru, Ghana, Canada, New Zealand, and Mexico. The company’s proven and probable gold reserves stood at 65.4 million ounces at the end of 2018. Newmont’s copper mining operations are located in the United States and Australia. The company’s proven and probable copper reserves stood at 2.88 billion pounds at the end of 2018. b) Who Pays?
Today In: Money Copper: Copper is bought by third-parties for use in construction and the manufacture of electrical appliances and industrial machinery. Gold: Gold is mainly sold to jewelry players and certain sensitive electronics industries.
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.
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.
“Newmont technical teams identified the potential of the deposit and have supported Continental as it advanced Buritica toward production”
Tweet this “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.
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
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
More NewsRSS feed for Newmont Mining Corporation Contacts Media Contact Omar Jabara 303.837.5114 omar.jabara@newmont.com
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