RE:NEWS RELEASE TODAY ???Is it better to buy vs. explore? Newmont's acquisition of Newcrest added net ~44.3Moz to Newmont's reported reserves and improved its reserve mine life to ~19.8 years (from 17.5) (Figure 1). We have also prepared overviews of the Alamos and Calibre deals (both accretive acquisitions in our view) in Figures 2 and 3, respectively. In our view, while sometimes expensive, buying can be an effective way to add reserve ounces, and the recent activity could mark the beginning of an industry trend of paying up to add ounces to reserves with certainty.
TD's NOTE .