RE:RE:Newmont divesting itself of Canadian assets
speedyg999 wrote: The Coffee project is way too small for Newmont (2-3M oz). I dont know why they bought into it the 10-15M oz SGD projects are more in line with Newmont's Tier 1 production desires. If peripheral (to Valley) deposits like Aurelius and Cujo can add another 5M oz to the SGD inventory, then that will truly be a Tier 1 gold system. SGD has the best chance, IMHO, of having a Tier 1 mine of ANY of the juniors in the market now. Buy.
I seem to recall that it was GoldCorp that bought the Coffee project originally for around $500 million from Kaminak and Newmont ended up with it only after taking over GoldCorp afterwards. Somebody please correct me if I'm mistaken.
At first I thought it weird that Newmont would divest itself of all its Canadian assets. But perhaps they are raising capital to purchase a tier one asset like Snowline's Valley deposit. I don't know but it seems QH is giving that impression. And he usually knows much more then he lets on and gives hints as to what might happen. I don't know. Perhaps I'm reading too much into his comments but I would think Newmont would really want Snowline's Valley deposit and perhaps even buy the entire company for it's portfolio of great properties in the Yukon. There will be more Valley type deposits discovered eventually.