Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Unlike the other two gold majors Newmont had a quarter to trumpet with a second quarter coming in at $144 million or 26 cents per diluted share.
Newmont Mining (NYSE:NEM) was up 2.14% to $38.27 per share. Analysts expected 24 cents a share.
Yesterday Barrick reported a net loss of US$94 million or 8 cents per share in its 2Q, and Goldcorp also reported a net loss of $131 million or 15 cents per share.
Newmont reported an all-in sustaining cost of $1,024 per ounce of gold. The company generated $545 million in adjusted EBITDA, down 22 percent from the prior year quarter.
The company maintained corporate-level production, unit cost and capital outlook for 2018.
Newmont also announced a partnership with Teck to develop NOVAGOLD’s Galore Creek in British Colombia.
Written with material from Newmont Mining news release. Creative Commons image of elevator courtesy of ymvf.
