Summary
This Form 8-K filing by Newmont Mining Corporation reports on a presentation scheduled for September 28, 2005, at the Denver Gold Forum 2005. The key takeaway for investors is the confirmation of Newmont's fiscal year 2005 guidance for consolidated gold sales, projected to be between 8.4 to 8.5 million ounces (with 6.5 to 6.6 million equity ounces) at a cost applicable to sales of $230 to $240 per ounce. Notably, Newmont stated that it is currently re-evaluating its mine planning and will not provide guidance for fiscal year 2006 and beyond at this time, expecting to do so at a later date. Potential risks to the current year's guidance were identified as labor availability and ground conditions at its underground operations in Nevada. This report is furnished under Regulation FD and is not deemed "filed" for liability purposes.
Key Highlights
- 1Newmont Mining Corporation confirmed its fiscal year 2005 consolidated gold sales guidance of 8.4 - 8.5 million ounces (6.5 - 6.6 million equity ounces).
- 2Consolidated costs applicable to sales for fiscal year 2005 are projected to be $230 - $240 per ounce.
- 3Newmont is undertaking a re-evaluation of its mine planning processes.
- 4Guidance for fiscal year 2006 and beyond will not be provided at this time.
- 5The company expects to issue future guidance for 2006 and beyond at a later date.
- 6Risks to current guidance include labor availability and ground conditions at Nevada's underground operations.
- 7The information was presented at the Denver Gold Forum 2005.