![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Nemetschek SE | TG:NEM | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.80 | -0.92% | 86.05 | 85.80 | 85.95 | 86.70 | 85.05 | 86.70 | 2,179 | 20:53:04 |
U.S. gold producer Newmont Mining Corp. (NEM) Wednesday announced 2008 gold sales of around 5.2 million troy ounces, in line with expectations, as well as the acquisition of the remaining 33.3% stake in the Boddington mine in Western Australia state from joint venture partner AngloGold Ashanti Ltd. (ANG.JO)
The Denver-based company also said capital costs for Boddington, located about 130 kilometers southeast of Perth, will be at US$2.6 billion to US$2.9 billion, as previously stated.
Newmont announced a US$1.2 billion capital raising through public offerings of common stock and convertible notes, in order to fund the acquisition of the Boddington stake that is likely to cost around US$1.1 billion.
Securities in dual-listed Newmont fell up to 14% to A$5.65 on the Australian Stock Exchange, before recovering to trade at A$6.14 at around 0007 GMT, following the announcement of the capital raising.
Gold prices were also down overnight, and Newmont's share price on the New York Stock Exchange fell by about 4%.
Boddington is due to start production mid this year, and with a nameplate capacity of 1 million ounces for the first five years of operation.
The acquisition of the remaining stake in Boddington was positive, with the company delivering gold sales in line with expectations, one Canada-based analyst said, who declined to be named.
Richard O'Brien, Newmont president and chief executive officer, said gold sales and costs were consistent with expectations for the year.
"For 2009, we expect equity gold sales to increase to between 5.2 and 5.5 million ounces at costs applicable to sales of between US$400 and US$440 per ounce, assuming the completion of the Boddington acquisition," O'Brien said.
Consolidated capital expenditure for 2008 was US$1.9 billion, and is due to fall to US$1.4 billion to US$1.6 billion for this calendar year because of completion of the Boddington mine as well as a power plant in Nevada, the company said in a statement.
-By Elisabeth Behrmann, Dow Jones Newswires;
61-2-8272-4689 elisabeth.behrmann@dowjones.com
Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary. You can use this link on the day this article is published and the following day.
1 Year Nemetschek Chart |
1 Month Nemetschek Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions