CEO: Newmont Likes Goldcorp’s Exploration-Pipeline Potential – by Allen Sykora (Kitco News – January 23, 2019)

(Kitco News) – Newmont Mining Corp. (NYSE: NEM) is encouraged by the exploration potential of some of the properties that it will acquire from Goldcorp Inc. (TSX: G, NYSE: GG), assuming that a planned merger goes through, says Gary Goldberg, Newmont’s chief executive officer.

The CEO spoke with Kitco News Wednesday about the mega-merger that was announced on Jan. 14. The mostly all-stock transaction valued Goldcorp shares at $10 billion and would create the largest gold-mining company in the world, to be named Newmont Goldcorp.

Goldberg and other top Newmont officials are on an extensive road trip, discussing the merger with investors and others. Company officials have been trying to share what assets they like and which they think might need more work, the CEO said.

“The ones we really like would be Penasquito in Mexico, Cerro Negro in Argentina, and Musselwhite in Canada,” Goldberg said, referring to Goldcorp properties. He also listed Eleonore, Porcupine and Red Lake, all in Canada.

“Those are assets that in some cases I think haven’t had some of the exploration, some of the focus and some of the rigor that we bring to some of our assets,” Goldberg said. “That will be important as we move forward. “One common denominator is the exploration potential. There has probably been an underspend over the years on exploration.”

For the rest of this article:

Comments are closed.