Seeking Alpha

Newmont sees normal mining in Indonesia for at least two months

  • Newmont Mining (NEM) expects normal mining operations to continue at its Batu Hijua copper-gold mine in Indonesia for at least the next two months, while it tries to resolve an impasse with the government over copper concentrate exports, CEO Gary Goldberg says.
  • NEM also has no plans to issue equity to pay down debt, has nothing pending on the M&A front, and has more non-core assets to sell, according to Goldberg.
  • Batu Hijua is expected to be NEM's top cash flow generator in 2015-16 as the miner accesses the high grade core of the deposit.
  • Indonesia fears prompted J.P. Morgan to downgrade shares to Neutral with a $26 price target, down from $28.
  • NEM +2.2% premarket.
Comments (1)
  • brazil2010
    , contributor
    Comments (45) | Send Message
     
    I am long on this p/s co as of about 3m ago and continue adding on weakness I am aware it is a falling knife. But how far can it go from here.?
    5 Feb 2014, 03:54 PM Reply Like
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