Post by Catdaddy on Oct 31, 2007 8:48:49 GMT -5
We can only hope that we are part of this company as it is huge. To read the entire article, including details their world wide holdings and graphs etc. go to this site:
biz.yahoo.com/prnews/071031/law084.html?.v=101
Later,
Catdaddy
Newmont Reports Third Quarter Net Income of $397 Million ($0.88 Per Share)
Wednesday October 31, 8:30 am ET
DENVER, Oct. 31 /PRNewswire-FirstCall/ -- Newmont Mining Corporation (NYSE: NEM - News) today announced third quarter financial and operating results. For the quarter, the Company reported net income of $397 million ($0.88 per share), compared with net income of $198 million ($0.44 per share) for the third quarter of 2006. Net income during the third quarter of 2007 benefited from a change in the valuation allowance on deferred tax assets associated with foreign tax credits ($84 million) and the Zarafshan-Newmont Joint Venture settlement ($54 million after-tax).
Richard O'Brien, President and Chief Executive Officer, said, "With the benefit of higher metal prices as well as a strong performance from the majority of our operations, we earned $0.88 per share for the quarter, a 200% increase over the year ago quarter, and generated approximately $520 million in cash from continuing operations. As we maintain our focus on operational execution, we continue to address the issues in Nevada, including challenges at Phoenix and the slower than anticipated reopening of our Midas mine. With three months remaining in the year, we are narrowing our outlook for equity gold sales to between 5.2 and 5.4 million ounces at costs applicable to sales of between $400 and $430 per ounce for 2007. Additionally, we continue to make substantial progress on our development projects, including Boddington in Australia, the gold mill at Yanacocha and the power plant in Nevada.
And earlier this month, we announced an offer to acquire all of the outstanding common shares of Miramar Mining Corporation in a friendly transaction, giving us the opportunity to establish a new, core mining district in the Nunavut Territory of Canada with tremendous exploration potential. With these efforts, we continue to work toward achieving our goal of providing our shareholders with a sustainable and profitable production base, while optimizing leverage to the gold price."
biz.yahoo.com/prnews/071031/law084.html?.v=101
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Newmont Mining's third-quarter profit doubles
www.reuters.com/article/marketsNews/idUKWNAS940320071031?rpc=44
Wed Oct 31, 2007 8:42am EDT
NEW YORK, Oct 31 (Reuters) - Newmont Mining Corp (NEM.N: Quote, Profile, Research), the world's second-largest gold producer, said on Wednesday that third-quarter profit doubled, though higher mining costs somewhat offset the rising price of gold.
Net earnings were $397 million, or 88 cents per share, compared with $198 million, or 44 cents per share in the same quarter last year, the Denver-based company said.
Last month, Newmont had warned that costs applicable to 2007 sales might exceed its previous estimate of $375 to $400 per ounce. (Reporting by Matt Daily and Steve James, editing by Gerald E. McCormick)
biz.yahoo.com/prnews/071031/law084.html?.v=101
Later,
Catdaddy
Newmont Reports Third Quarter Net Income of $397 Million ($0.88 Per Share)
Wednesday October 31, 8:30 am ET
DENVER, Oct. 31 /PRNewswire-FirstCall/ -- Newmont Mining Corporation (NYSE: NEM - News) today announced third quarter financial and operating results. For the quarter, the Company reported net income of $397 million ($0.88 per share), compared with net income of $198 million ($0.44 per share) for the third quarter of 2006. Net income during the third quarter of 2007 benefited from a change in the valuation allowance on deferred tax assets associated with foreign tax credits ($84 million) and the Zarafshan-Newmont Joint Venture settlement ($54 million after-tax).
Richard O'Brien, President and Chief Executive Officer, said, "With the benefit of higher metal prices as well as a strong performance from the majority of our operations, we earned $0.88 per share for the quarter, a 200% increase over the year ago quarter, and generated approximately $520 million in cash from continuing operations. As we maintain our focus on operational execution, we continue to address the issues in Nevada, including challenges at Phoenix and the slower than anticipated reopening of our Midas mine. With three months remaining in the year, we are narrowing our outlook for equity gold sales to between 5.2 and 5.4 million ounces at costs applicable to sales of between $400 and $430 per ounce for 2007. Additionally, we continue to make substantial progress on our development projects, including Boddington in Australia, the gold mill at Yanacocha and the power plant in Nevada.
And earlier this month, we announced an offer to acquire all of the outstanding common shares of Miramar Mining Corporation in a friendly transaction, giving us the opportunity to establish a new, core mining district in the Nunavut Territory of Canada with tremendous exploration potential. With these efforts, we continue to work toward achieving our goal of providing our shareholders with a sustainable and profitable production base, while optimizing leverage to the gold price."
biz.yahoo.com/prnews/071031/law084.html?.v=101
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Newmont Mining's third-quarter profit doubles
www.reuters.com/article/marketsNews/idUKWNAS940320071031?rpc=44
Wed Oct 31, 2007 8:42am EDT
NEW YORK, Oct 31 (Reuters) - Newmont Mining Corp (NEM.N: Quote, Profile, Research), the world's second-largest gold producer, said on Wednesday that third-quarter profit doubled, though higher mining costs somewhat offset the rising price of gold.
Net earnings were $397 million, or 88 cents per share, compared with $198 million, or 44 cents per share in the same quarter last year, the Denver-based company said.
Last month, Newmont had warned that costs applicable to 2007 sales might exceed its previous estimate of $375 to $400 per ounce. (Reporting by Matt Daily and Steve James, editing by Gerald E. McCormick)
