Newmont: Canadian Competition Bureau Clears Deal With Goldcorp
Newmont Mining Corp. (NYSE: NEM) says Canada’s Competition Bureau has issued clearance for the company’s planned merger with Goldcorp Inc. (TSX: G; NYSE: GG) in a mostly all-stock transaction to create the largest gold-mining company in the world. Specifically, Newmont says the Bureau issued a “no action” letter clearing Newmont’s planned acquisition of Goldcorp. The new company will be named Newmont Goldcorp, assuming the merger receives shareholder approval.
By Allen Sykora of Kitco News; firstname.lastname@example.org
OceanaGold Lists Adjusted 4Q Profit
Tuesday February 19, 2019 08:30
OceanaGold Corp. (TSX, ASX: OGC) reports an adjusted net profit of $124 million for full-year 2018, before unrealized gains or losses on undesignated hedge, and fourth-quarter revenue adjusted net profit of $17 million. The OceanaGold board of directors has declared its first dividend for 2019 of a penny per ordinary share. “Our net debt [was] reduced by 59% over the past year, reflecting the strong cash-flow generation in 2018 and our commitment to strengthen our balance sheet through discretionary debt repayments,” says Mick Wilkes, president and chief executive officer. The company produced 126,700 ounces of gold in the fourth quarter, down from 166,200 in the same period a year earlier. Full-year output fell to 533,300 ounces from 574,600 ounces in 2017. The company previously listed full-year 2019 production guidance of 500,000 to 550,000 ounces of gold at all-in sustaining costs of $850 to $900 an ounce.