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Newmont announces $1.3 billion adj EBITDA and a dividend of $0.55 per share for Q3

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(Kitco News) - Newmont Corporation (NYSE:NEM, TSX:NGT) today announced third quarter 2021 results. The company produced 1.45 million attributable ounces of gold and 315 thousand attributable gold equivalent ounces from co-products.

Looking at the cost of production the company reported gold costs applicable to sales (CAS) of $830 per ounce and all-in sustaining costs (AISC) of $1,120 per ounce.

The firm also updated its full-year guidance of 6.0 million ounces of attributable gold production, $790 per ounce of CAS, and $1,050 per ounce of AISC, reaffirming the original guidance of 1.3 million gold equivalent ounces from copper, silver, lead, and zinc

In regards to the all-important revenue, It $1.1 billion of cash from continuing operations and $735 million of Free Cash Flow (97 percent attributable to Newmont). Newmont also declared a third-quarter dividend of $0.55 per share, consistent with the previous quarter, and completed $99 million of share repurchases from the $1 billion buyback program.

Tom Palmer, Newmont President, and Chief Executive Officer said "Newmont delivered on a challenging third-quarter performance with $1.3 billion in adjusted EBITDA and $735 million in free cash flow, building momentum for a strong fourth quarter," said Tom Palmer, Newmont President, and Chief Executive Officer. "Supported by our clear strategic focus and proven operating model, we continue to apply our disciplined approach to capital allocation. A year ago, we announced our industry-leading dividend framework, establishing a clear pathway for stable and predictable returns. Over the last four quarters, Newmont has steadily reinvested in our operations while returning more than $2 billion dollars to shareholders through dividends and share buybacks, demonstrating our confidence in the long-term value of our business and our ability to maintain financial flexibility."

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