well im wondering if Newmont is in trouble, I mean selling a mine that can 200-300ounces per year for 82.5M,,,,,,,,,,seems that mines realizing a lot less
from SMH this morning
Northern Star buys $82.5m gold mine in WA
DateMay 13, 2014 - 9:29AM 51 reading now
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Gold miner Northern Star has continued its extraordinary buying spree by today acquiring one of the biggest five gold mines in Australia.
In it's fourth acquisition this financial year, Northern star has agreed to pay $82.5 million for Newmont Mining's Jundee mine in Western Australia.
Northern Star believes the deal will turn it into the nation's second biggest gold miner, behind Newcrest Mining.
Jundee is capable of producing between 200,000 and 300,000 ounces of gold each year, and has regularly been judged the fifth biggest gold mine in Australia over recent years.
Northern Star boss Bill Beament said Jundee was a tier one asset "by any measure".
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Northern Star began this financial year with one operating mine, Paulsens, capable of producing about 100,000 ounces of gold per year.
But after buying Barrick's Plutonic mine in December, three more Barrick mines in January and now Newmont's Jundee, the company has increased its production capacity five-fold to more than 550,000 ounces per year in just six months.
Read more: http://www.smh.com.au/business/mining-and-resources/northern-star-buys-825m-gold-mine-in-wa-20140513-386ix.html#ixzz31Y5ygVbH
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