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  • Newmont Mining to invest up to $1B in Suriname gold mine [View news story]
    Newmont chose Merian over Conga. I believe they know exactly what they are doing. Overall AISC dropped by 17%. Despite the erratic country/mine specifics, every total metric is headed in the right direction. Each decision seems to be calculated for maximum company and investor advantage.

    It may still take a few years for the stock to catch up; but, when all is said and done, I wonder how many people will say, Goldberg put the ship on the right course; and, August, 2014 was the time to get back into the name.......I will give them the time to prove they are in a strong turnaround mode.
    Jul 29, 2014. 07:37 PM | Likes Like |Link to Comment
  • Indonesia threatens takeover of Newmont mine if output stays shut [View news story]
    Stick to your guns, Newmont!
    Jul 17, 2014. 11:47 AM | 2 Likes Like |Link to Comment
  • Newmont to sell Australian gold mine to Northern Star [View news story]
    I believe that this is more evidence of an impending deal to break ground on Minas Conga. Newmont is raising cash and improving its balance sheet on a consistent basis under Gary Goldberg. The restructuring of this company is in full swing. Don't be surprised to see the share price double in five years. I sold some at $70 in 2012.
    May 13, 2014. 09:19 AM | Likes Like |Link to Comment
  • Report: ArcelorMittal in talks to buy BHP iron ore asset in Guinea [View news story]
    Hey James; I don't know what it means for NEM; but, between the ABX attempt to buy Newmont, the favorable rights commission ruling, and whatever this transaction is, I like the "buzz"; and, I've picked up more shares of Newmont. I believe that an announcement to break ground on Minas Conga will instantly add around $5 to the share price.
    May 10, 2014. 09:12 AM | Likes Like |Link to Comment
  • Newmont Mining: A Stock Worthy Of An Investment [View article]
    James, I don't know much about Hecla. I'd just love to see a majority of the smaller firms snapped up by whoever to reduce competition and get a lid on supply. I am fascinated how resilient the price of oil remains despite all of the new supply coming on line. I realize that there is little in common between gold and oil; but, they are both supply and demand priced commodities. Maybe if the major gold producers took more control, they would be able to effect the market to suit their business models.
    May 7, 2014. 10:04 AM | Likes Like |Link to Comment
  • Newmont Mining: A Stock Worthy Of An Investment [View article]
    At this point, if you are selecting a gold miner (And, I don't necessarily think that you should), you want the smartest management team out there. Since coming in a little over a year ago, I believe that Gary Goldberg of Newmont has made every right conceivable move to bring costs down. When Newmont announces the start of Minas Conga in Peru, the stock should shoot up 5 points immediately.

    The fly in the ointment for all of these companies is the price of the yellow metal. For me, $1,300 is the technical and psychological bottom they need to adjust to. That said, I would like all of the miners to act as if gold will be trading at $1,000 for the next several years. That way, they can shutter low grade ore sites, high tax and labor regions, and return to great profitability. Newmont had an average stock price of $45 when gold was selling for $600. There are ways to adjust their business model to suit the current environment.

    Finally, my biggest disappointment is the lack of consolidation in the industry. Newmont was never going to allow Barrick to buy it in the $30 per share range; but, how these small and medium sized miners continue to survive independently is a mystery to me.

    I remain long on Newmont.
    May 6, 2014. 03:07 PM | 1 Like Like |Link to Comment
  • Gold mining giants reportedly neared merger, but talks failed [View news story]
    I believe that the biggest take away from this news is that Newmont is confident in its current restructuring strategies; and, as it was mentioned, their stock price is so dramatically depressed from historic averages, that they would not and could not get a fair value in a merger. What is more surprising to me is that I haven't heard of any other major gold players merging or going bankrupt. I had been hoping for that to help my long Newmont position. Now, I'm mostly hoping for gold to push back over $1,300 and stay there. That will help Newmont and the rest make their companies whole again.
    Apr 20, 2014. 10:03 AM | Likes Like |Link to Comment
  • Gold mine output set to reach record, cut not seen until 2015 [View news story]
    In their third quarter report, Newmont set a 2014 expectation of $1,200 gold and $100 oil. I'm hoping that this is more about adjusting their business model to cope with gold's plummet than actually believing that $1,200 is where gold will stabilize.

    Random thought-for years, you could count on platinum being about double the cost of gold. What has happened to this relationship? Will gold go back down to 2006 prices of $700; or, will platinum set a new record and rise to $2,500? Or, was this previous price correlation just an artifact?
    Nov 21, 2013. 09:24 AM | Likes Like |Link to Comment
  • Newmont Mining Corp declares $0.20 dividend [View news story]
    Stay long for five more years and you may be pleasantly surprised. The industry is restructuring. There will be consolidation. I thought the quarter and the call were surprisingly good all around for Newmont. On the analyst call, Gary Goldberg and the new CFO said that they will not be issuing debt or offering stock in the foreseeable future. The have a $5 billion revolver and a billion in cash. This quarter they had positive free cash flow for the first time in a few quarters. They will survive. If gold stays down, they will continue to cut costs as others close up shop. If gold rallies, they will be best in breed.
    Nov 3, 2013. 07:32 AM | Likes Like |Link to Comment
  • Newmont Mining's CEO Discusses Q3 2013 Results - Earnings Call Transcript [View article]
    I think Newmont is making incredible progress in restructuring the business. The cost savings are truly impressive. The net net earnings beat is the proof. I don't mind the slight miss of revenue. I don't want to see them bending over backwards to produce in this low price high expense environment.

    I like that they've revised the gold target for the next few years to $1,200 (from $1,400) and oil to $100 (from $90). This should help them continue to under promise and over deliver in future quarters.

    In the conference call, Conga was scarcely mentioned. That spoke volumes to me. Hopefully, the Peruvian national government will follow through next year and make sure that the project can move forward when NEWMONT is ready. The company has spent tens of millions of dollars on the reservoir projects and has built strong ties to the community.

    Newmont has closed offices, laid off a few thousand employees, and sold oil sands assets. Operationally, they have found other ways to cut costs considerably; and, they believe that they will continue to be able to find more savings, as they also cut capex.

    I have contacted Vice President of Investor Relations, John Seaburg on three occasions this year. Several months ago, I was fortunate enough to have a telephone call with him; and, I found him to be totally candid about the challenges that lie ahead. More recently, I have pressed him to bring to the board the idea of imposing a small company wide salary cut. Its my contention that the current compensation packages and salaries are based on more profitable times. To me, this would demonstrate the ultimate commitment to returning value to the battered shareholder.

    I am and will continue to be long Newmont.
    Nov 1, 2013. 01:27 PM | 1 Like Like |Link to Comment
  • Barrick's dilution may have miner shareholders fearing they're next [View news story]
    On the analyst call, Gary Goldberg and the new CFO said that they will not be issuing debt or offering stock in the foreseeable future. The have a $5 billion revolver and close to that much more in cash I believe. This quarter they had positive free cash flow for the first time in a few quarters.
    Nov 1, 2013. 01:27 PM | Likes Like |Link to Comment
  • Newmont Mining Corp declares $0.20 dividend [View news story]
    Guess we will learn something after today's close and tomorrow's call.
    Oct 31, 2013. 08:23 AM | 1 Like Like |Link to Comment
  • Newmont Mining Corp declares $0.20 dividend [View news story]
    I think this is still a very healthy dividend at nearly 3% considering the price deterioration of gold and the increasing expenses to keep it coming.
    Oct 30, 2013. 02:37 PM | Likes Like |Link to Comment
  • Gold miners broadly weaker, as gold futures plunge nearly $30 [View news story]
    The quick drops are pure market manipulation. Unfortunately, I can't deny what's been obvious to those who called it in April. The bull run is over for now. I wish I had a compelling reason to stay long; but, I will certainly be selling into strength starting next year.
    Oct 11, 2013. 03:31 PM | 3 Likes Like |Link to Comment
  • The carnage in gold mining stocks is not over, Jefferies says as it cuts ratings for Barrick Gold (ABX), Goldcorp (GG), Kinross Gold (KGC) and Newmont Mining (NEM) by one notch each: "With short reserve lives, rising costs, rising political risks and a stagnant commodity price... an argument could be made that gold equities should trade at valuation discounts to other resource equities. Instead, they continue to garner valuation premiums." [View news story]
    My favorite comment so far is from Chuck Lewis. Can you imagine gold miners buying physical gold on the open market in lieu of mining it?! This is just the type of topsy-turvy state we are in.....the possibility that this may be a consideration.

    The scariest point for a gold bull is Caadian's. The exodus from gold etf's is unprecedented. I still see these folks as sheep, though. When a clear signal is given by the chief yukety yuks, they will charge back in mindlessly as well.
    Jul 2, 2013. 03:02 PM | Likes Like |Link to Comment