Summary
Newmont Corporation announced on May 11, 2017, a strategic investment of approximately $109 million to acquire a 19.9% stake in Continental Gold Inc. This investment is specifically aimed at supporting the near-term development of the high-grade Buriticá gold project located in Colombia. This move signals Newmont's commitment to expanding its portfolio with promising development assets in key mining jurisdictions. The transaction is subject to Toronto Stock Exchange approval, anticipated by May 18, 2017. Investors should note that the information provided is furnished and not deemed "filed" for regulatory purposes. The report also includes standard forward-looking statement disclaimers.
Key Highlights
- 1Newmont Corp (NEM) announced a strategic investment of approximately $109 million.
- 2The investment secures a 19.9% ownership stake in Continental Gold Inc.
- 3The primary purpose of the investment is to support the development of the Buriticá gold project in Colombia.
- 4The Buriticá project is characterized as high-grade.
- 5The transaction is subject to Toronto Stock Exchange approval, expected by May 11, 2017.
- 6This investment represents a move to expand Newmont's development pipeline in a prospective region.