Newmont — Oct 23, 2024 release
Fiscal 2024 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001164727-24-000057
Showing in the filing
Share Repurchase Program Authorization
“$2 billion”
Period
No period stated
Measure
Declared action
Source
Prose
All guidance in this release · 44
Gross divestiture proceeds
“at least $2 billion”
Share Repurchase Program Authorization
“$2 billion”
Attributable gold production for Q4 FY2024
“1.8 million gold ounces”
All-In Sustaining Cost (AISC) for Q4 FY2024
“$1,475 per ounce”
Gold AISC ($/oz) for Q4 FY2024
“$1,475”
Cadia Panel Caves gold reserves to be extrac…
“approximately 5.9 million ounces”
Cadia Panel Caves copper reserves to be extr…
“1.3 million tonnes”
PC2-3 gold production over cave life for FY2024
“1.0 million ounces”
PC2-3 copper production over cave life for FY2024
“more than 400 thousand tonnes”
PC2-3 peak annual gold production for FY2027–2032
“between 100 and 150 thousand ounces of gold per year”
PC2-3 peak annual copper production for FY2027–2032
“between 40 and 60 thousand tonnes of copper per year”
PC2-3 total capital cost
“between $1.0 and $1.2 billion”
PC2-3 development capital spend by Newmont for FY2026
“between $150 to $250 million”
PC1-2 gold production over cave life for FY2027
“4.0 million ounces”
PC1-2 copper production over cave life for FY2027
“more than 700 thousand tonnes”
PC1-2 peak annual gold production for FY2030–2040
“between 275 and 325 thousand ounces of gold per year”
PC1-2 peak annual copper production for FY2030–2040
“between 35 and 55 thousand tonnes of copper per year”
Reclamation spend for Q4 FY2024
“an additional $225 million”
Gold price assumption for Q4 FY2024
“$2,500/oz”
Attributable Gold Production (Koz) for Q4 FY2024
“1,800”
Gold CAS ($/oz) for Q4 FY2024
“$1,050”
Copper price assumption for Q4 FY2024
“$8,818/tonne”
Copper Production (ktonne) for Q4 FY2024
“35”
Copper CAS ($/tonne) for Q4 FY2024
“$4,900”
Copper AISC ($/tonne) for Q4 FY2024
“$7,500”
Silver price assumption for Q4 FY2024
“$28.00/oz”
Silver Production (Moz) for Q4 FY2024
“11”
Silver CAS ($/oz) for Q4 FY2024
“$9.00”
Silver AISC ($/oz) for Q4 FY2024
“$15.00”
Lead price assumption for Q4 FY2024
“$2,094/tonne”
Lead Production (ktonne) for Q4 FY2024
“28”
Lead CAS ($/tonne) for Q4 FY2024
“$970”
Lead AISC ($/tonne) for Q4 FY2024
“$1,500”
Zinc price assumption for Q4 FY2024
“$2,646/tonne”
Zinc Production (ktonne) for Q4 FY2024
“70”
Zinc CAS ($/tonne) for Q4 FY2024
“$1,200”
Zinc AISC ($/tonne) for Q4 FY2024
“$2,100”
Sustaining Capital ($M) for Q4 FY2024
“$550”
Development Capital ($M) for Q4 FY2024
“$320”
Exploration & Advanced Projects ($M) for Q4 FY2024
“$115”
General & Administrative ($M) for Q4 FY2024
“$110”
Interest Expense ($M) for Q4 FY2024
“$80”
Depreciation & Amortization ($M) for Q4 FY2024
“$700”
Adjusted Tax Rate for Q4 FY2024
“34%”
Exhibit 99.1 · the passage around this item
… earlier in the release
Our divestiture progress and strong free cash flow generation have positioned us to continue reducing debt and repurchasing shares, creating significant and lasting value for our shareholders.” Q3 2024 Results 1 ▪ Announced an agreement to sell the Akyem mine in Ghana for up to $1 billion in cash, as well as an agreement to divest the Telfer mine and 70 percent interest in the Havieron project in Western Australia for up to $475 million of gross proceeds ▪ Continue to expect to receive at least $2 billion in gross divestiture proceeds from high-quality, non-core asset sales, in addition to the $527 million dollars in cash already received from other investment sales since the beginning of 2024 ▪ Since the last earnings release, repurchased 9.4 million shares at an average price of $53.16 for a total cost of $500 million, of which $198 million was repurchased during the third quarter 2 ; $750 million of share repurchases completed since program announced in February 2024 ▪ Newmont's Board authorized an additional $2 billion share repurchase program to be executed at the Company’s discretion, utilizing open market repurchases to occur from time to time throughout the next 24 months 3 ▪ Delivered $786 million in total returns to shareholders through share repurchases and dividend payments 2 ; declared a dividend of $0.25 per share of common stock for the third quarter of 2024 4 ▪ Since the last earnings release, reduced nominal debt by $233 million for a cash cost of $210 million, of which $150 million was purchased during the third quarter and $83 million was purchased in October 2024; $483 million of debt retired year-to-date in 2024 ▪ Produced 1.7 million attributable gold ounces, primarily driven by production of 1.4 million gold ounces from Newmont's Tier 1 Portfolio 5 , as well as 430 thousand gold equivalent ounces (GEOs) 6 from copper, silver, zinc, and lead, including 37 thousand tonnes of copper ▪ Generated $1.6 billion of cash from operating activities, net of working capital changes of $(209) million; reported $760 million in Free Cash Flow 7 ▪ Reported Net Income of $924 million, Adjusted Net Income (ANI) of $0.81 per diluted share and Adjusted EBITDA of $2.0 billion 7 ▪ Achieved $500 mill
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.