Newmont Corp to Sell Telfer Operation for Up to $475 Million

Newmont Corp has announced an agreement to sell its Telfer operation and interest in the Havieron project to Greatland Gold for up to $475 million, expected to close in Q4 2024. This divestiture could impact Newmont's financial performance significantly.

Date: 11-09-2024

AI Rating: 6

According to the report, Newmont Corp. is set to sell its Telfer operation and its 70% stake in the Havieron gold-copper project. This deal will generate up to $475 million in gross proceeds for Newmont. The breakdown includes:

Cash consideration of $207.5 million upon closing.
Equity consideration of $167.5 million in Greatland shares, also upon closing.
Deferred contingent cash consideration of up to $100 million.

This transaction, anticipated to close in the fourth quarter of 2024, may influence Newmont’s future earnings and cash flow due to the significant influx of capital from the sale. The large cash proceeds could improve liquidity, providing funds for future investments or debt reduction.

In terms of financial metrics, the report does not specify any figures related to Earnings Per Share (EPS), Revenue Growth, Net Income, Profit Margins, Free Cash Flow (FCF), or Return on Equity (ROE). Therefore, a detailed analysis of these aspects cannot be provided.

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