At the time of the original transaction, their total sale price for Telfer + Havieron assets to Greatland was:
$207.5M cash Plus another $100M deferred cash for a total of $307.5M cash Plus $167.5M in Greatland shares Total consideration of $475M
But now they have just sold half those Greatland shares into the float for $440.4M
So they have now got $747.9M cash for the assets Plus they still hold $487.1M in Greatland shares at today's closing price Total consideration therefore is now: $1,235M
$1.2Bn!
AND they have rid themselves of another ~$1Bn in post mine rehabilitation liabilities.
Hats off to the bean-counters! A very nice exit for Newmont. And they don't have to worry about that tailings dam or stalled decline. It's not their problem anymore.
It will be interesting to see if they sell down the rest as the opportunity arises.
GGP Price at posting:
$7.30 Sentiment: None Disclosure: Not Held
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