New Found Gold Corp V.NFG

IndustryNews - Newcrest gets takeover bid from Newmont

[Kewl002]

Under the proposed deal terms, Newcrest (OTCPK:NCMGF) (OTCPK:NCMGY) shareholders would receive 0.38 Newmont (NEM) shares for each Newcrest share held, which would value Newcrest at ~$17B.

Newcrest (OTCPK:NCMGF) (OTCPK:NCMGY) said its board is considering the proposal, which is conditional on Newmont (NEM) being granted exclusive due diligence.

[AlwaysLong683]

Wow. This would be a big deal if it goes through. Newmont is the largest gold producer in the world while Newcrest is seventh. This, combined with the recent purchase of Yamana by Pan American Silver and Aginco Eagle, appears to indicate that the big boy producers are merging to gain scale and instant increases in yearly production (Agnico will take ownership of Yamana's Canadian Malartic

[AlwaysLong683]

Here's a preliminary summary of the potential merger.

[Global1966]

Newmont are getting a bargain. Newcrest has traded $13 aud a share higher 2 years ago and is by far Australia's best gold producer. I can't  see a major buying NFG for what it will be worth post an initial resource assessment, whenever that happens. A joint venture with a mid tier company may be a better option to extract a higher value, unless ES stumps up for the capital to build

[Retiredgeo]

An offer has been made but not yet accepted.  Pundits are weighing in.  Some reject the offer calling it a bad deal for Newcrest. I don't think a major will be interested period, unless they can flesh out an open pit at Keates West.  These narrow vein deposits just don't have the tonnage which interests the big boys. A joint venture could be announced at any time along

[AlwaysLong683]

Did Kirland Lake Gold make a mistake when they took out Newmarket? Newmarket had an unremarkable open pit operation at Fosterville with a promising underground mining initiative when KL acquired the company. Also, don't forget that before Fosterville, KL's underground mining operation at Macassa was a jackpot discovery that started KL's rapid rise in share price prior to the

[AlwaysLong683]

Newmont Increases Offer Price To Acquire Newcrest