RE:RE:Newmont delays Peru expansionHi Clarke,
FYI, today Rio Tinto is ranked #9 as a global Copper producer and are not ranked in the top 20 global Gold producing Companies, while Newmont-GoldCorp is ranked #1 as the global Gold producer and are not ranked in the top 10 global Copper producing Companies.
Now the facts-
1.Newmont's Coffee Project contains about 5+M ozs of gold and is next door to the Casino
property.
2.Casino property contains 21+M ozs of gold.
3.Newmont is well into the permitting process with YESAB to obtain permit to mine the Coffee
property.
4.Ken Williams was a M&A specialist with Gold Corp prior to transferring to Western Copper & Gold
three days before Newmont bought out Gold Corp & CEO- Dale Corman hired Ken Williamson.
5.Ken Williams was the M&A specialist for Glamis Gold when Glamis Gold purchased Western
Silver from CEO -Dale Corman in May 2006.
6. When the Strategic Partnership between Rio Tinto & Western Copper & Gold was prepared a
Condition in the document was included to allow other Companies of interest to pursue
purchasing or partnering at Casino.
7. WC&G has indicated they have been in talks with Newmont on 2 occasions according to Paul
West in a previous interview with Crux.
A few questions come to mind-
1.Was Newmont thinking the Yukon was going to be their next gold inventory when they
bought out Kaminak's 5+M ozs of gold 4 years ago, then to purchase WC&G 21M+ oz gold.
In other words NMT are in hot pursuit of the 30 M ozs of gold you say is waiting to be developed?
2.Could it be NMT & WC&G have agreed in principle to the sale of their 21+M ozs of gold and
both parties have signed off a "Non Disclosure Agreement", so that's why we haven't heard
anything about Newmont's interest at Casino.
3.I highly doubt Newmont is pursing the permitting pocess time&costs just to mine 5M ozs of gold.
Wouldn't Newmont just sell off the Coffee project to WC&G, now isn't that the best business
decision to make?
4.Does it not make sense for Newmont & Rio Tinto to partnership in a 50-50 ownership split to
purchase and mine Casino? That reduces the CAPEX substantially for each partner to contribute
instead of a single Company paying the much larger CAPEX cost.
This soap opera is far from over, and as they say where there is smoke, there is fire.
Blue