Post by Catdaddy on Nov 17, 2007 11:44:39 GMT -5
TIMING???
Newmont expected to decide on spin-off next week
By Jane Louis
www.resourceinvestor.com/pebble.asp?relid=37937
16 Nov 2007 at 12:49 PM
Newmont [NYSE:NEM] is expected to make a decision next week regarding the spin-off of its mining and energy royalty subsidiary Franco-Nevada Corp. Newmont could either launch an IPO of the reborn company or sell it to a group of potential buyers.
Franco-Nevada holds a C$1 billion portfolio that includes royalties in the Stillwater [NYSE:SWC] platinum and palladium complex in Montana and Barrick’s [NYSE:ABX; TSX:ABX] Goldstrike mine in Nevada.
If the subsidiary is sold, the oil and mining sections could be divided, Newmont said. The miner’s shares are up $1.20 to $50 today on NYSE, a 2.46% gain.
Newmont expected to decide on spin-off next week
By Jane Louis
www.resourceinvestor.com/pebble.asp?relid=37937
16 Nov 2007 at 12:49 PM
Newmont [NYSE:NEM] is expected to make a decision next week regarding the spin-off of its mining and energy royalty subsidiary Franco-Nevada Corp. Newmont could either launch an IPO of the reborn company or sell it to a group of potential buyers.
Franco-Nevada holds a C$1 billion portfolio that includes royalties in the Stillwater [NYSE:SWC] platinum and palladium complex in Montana and Barrick’s [NYSE:ABX; TSX:ABX] Goldstrike mine in Nevada.
If the subsidiary is sold, the oil and mining sections could be divided, Newmont said. The miner’s shares are up $1.20 to $50 today on NYSE, a 2.46% gain.
