- Newmont Mining (NYSE:NEM) -1.5% AH after agreeing to acquire the Cripple Creek & Victor gold mine in Colorado from AngloGold Ashanti (AU) for $820M in cash plus a 2.5% net smelter return royalty for gold production from potential future underground ore.
- NEM believes the deal will add 350K-400K oz./year of gold in 2016 and 2017 at all-in sustaining costs of between $825-$875/oz.
- To fund the deal, NEM plans to conduct a public offering of 29M common shares, with an underwriters option to purchase up to an additional 4.35M shares.