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April 28, 2014
09:28 EDTABX, NEMNewmont Mining releases letter sent to Barrick board
In response to the press release issued this morning by Barrick Gold Corporation (ABX), Newmont Mining Corporation (NEM) released the following letter it sent last week to the Board of Directors of Barrick: "Over the past number of months, our two companies have been working hard to find a basis on which we could merge and realize their combined strengths. While we were hopeful that we could achieve that goal, it has become evident to us over the past several weeks that the type of constructive, mutually respectful and partnership-oriented relationship necessary to realize the potential benefits of that combination does not yet exist. Our Board has met a number of times since we were twice told definitively last Thursday by your Co-Chairman that the process in which we had been engaged to find a basis to merge our two companies was “dead”. As you would expect, that unilateral declaration made us question whether we actually shared the vision and values that are necessary to forge a successful new company. Notwithstanding that, we persevered. While our team has found your management team’s engagement to be constructive and professional, the same constructive nature cannot be said of our discussions with your Co-Chairman on certain fundamental strategic and structural issues over the past two weeks. Our efforts to find consensus have been rejected out of hand repeatedly. And, as we contemplated further dialogue, we read in the continuing reporting of the transaction in the financial press a pointed characterization of our company as 'extremely bureaucratic and not shareholder-friendly.' Nothing could be further from the truth. Moreover, none of this suggests that we have the mutual respect or shared values today that we believe are necessary for the enterprise that would result from the combination of our companies to realize its full potential. It is, in fact, because of our deep commitment to our shareholders that we reluctantly have had to unanimously conclude that we need to put aside our attempts to resuscitate this initiative and should pursue our course as an independent company."
News For ABX;NEM From The Last 14 Days
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April 29, 2015
16:58 EDTNEMNewmont Mining agrees to sell Waihi operations in New Zealand
Newmont Mining has signed a non-binding letter of intent with OceanaGold to sell Newmont Waihi Gold Limited. Terms of sale include cash proceeds of $101M, a $5M contingent payment, and a one percent Net Smelter Royalty on a recent discovery north of Waihi’s current operations. Following the execution of a definitive acquisition agreement, fulfillment of all conditions precedent and receipt of necessary board and regulatory approvals, OceanaGold will acquire all of Waihi’s open pit and underground mining assets and liabilities, including all social, environmental and employee obligations.
April 28, 2015
16:00 EDTABXOptions Update; April 28, 2015
iPath S&P 500 VIX Short-Term Futures down 68c to 20.77. Option volume leaders: AAPL TSLA TWTR YPF AMZN X PBR MRK JBLU ABX according to Track Data.
10:05 EDTNEMOn The Fly: Analyst Upgrade Summary
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09:36 EDTABXActive equity options trading on open
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08:32 EDTNEMNewmont Mining upgraded to Neutral on increased NAV at BofA/Merrill
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07:36 EDTNEMNewmont Mining upgraded to Neutral from Underperform at BofA/Merrill
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April 27, 2015
18:42 EDTABXBarrick Gold reaffirms FY15 gold production view 6.2M-6.6M ounces
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18:41 EDTABXBarrick Gold reports Q1 EPS 5c, consensus 9c
Reports Q1 revenue $2.24B, consensus $2.38B.
16:00 EDTABXOptions Update; April 27, 2015
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15:04 EDTABXNotable companies reporting after market close
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10:00 EDTNEMOn The Fly: Analyst Upgrade Summary
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06:39 EDTNEMNewmont Mining upgraded to Outperform from Neutral at Credit Suisse
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April 23, 2015
19:16 EDTNEMOn The Fly: After Hours Movers
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16:16 EDTNEMNewmont Mining says 2016, 2017 gold and copper production view unchanged
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16:15 EDTNEMNewmont Mining backs FY15 outlook for 4.6M-4.9M attributable oz. gold
Newmont is maintaining its FY15 outlook between 4.6-4.9M attributable ounces of gold, at CAS between $660-$710 per ounce and AISC between $960-$1,020 per ounce.
16:14 EDTNEMNewmont Mining reports Q1 adjusted EPS 46c, consensus 23c
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April 20, 2015
17:33 EDTABXBarrick Gold pursues sale of Zaldivar mine, Reuters says
Barrick Gold has contacted a small group of buyers regarding a potential sale of its Zaldivar copper mine, Reuters reported earlier, citing three sources familiar with the matter. The sources said a deal could be worth roughly $2B, and added that Barrick is likely to retain a stake in the mine rather than pursue a full sale. Reference Link
13:24 EDTABXNewcrest, Hecla, Gold Fields bid for Barrick mine, WSJ says
Newcrest (NCMGY), Hecla (HL), Gold Fields (GFI), and Evolution Mining have advanced to the second round of bidding for Barrick Gold's (ABX) Cowal mine in Australia, reports the Wall Street Journal, citing two sources familiar with the matter. One of the sources noted that the mine could be worth as much as $700M. Reference Link
12:52 EDTABXBarrick Australian mine bid on by Hecla, Newcrest Mining, DJ says
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