Newmont Files Early Warning Report

Rhea-AI Summary

Newmont (NYSE: NEM) announced that its wholly-owned subsidiary, Newmont Canada FN Holdings ULC, has sold 9,500,000 common shares of Star Diamond through a private placement transaction. The shares were sold at $0.02 per share for a total of $190,000. This transaction represents approximately 1.54% of Star Diamond's outstanding shares, reducing Newmont's ownership from 11.45% to 9.92%. While Newmont Canada currently has no plans to acquire additional Star Diamond shares, it may do so in the future depending on market conditions.

Positive

• None.

Negative

• Sold Star Diamond shares at a low price point of $0.02 per share
• Reduced ownership stake in Star Diamond from 11.45% to 9.92%

Insights

Financial Analyst

The sale of $190,000 worth of Star Diamond shares by Newmont represents a minor portfolio adjustment that has minimal impact on Newmont's overall financial position, given their $42.1 billion market cap. The reduction from 11.45% to 9.92% ownership in Star Diamond maintains Newmont's significant minority stake while freeing up minimal capital. The transaction price of $0.02 per share indicates Star Diamond's current low market valuation and suggests Newmont is strategically reducing exposure to non-core assets. However, the retained 9.92% ownership signals Newmont's continued interest in maintaining some exposure to Star Diamond's potential upside without committing additional capital.

DENVER--(BUSINESS WIRE)-- Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) (together with its affiliates, “Newmont” or the “Company”) announced today that Newmont Canada FN Holdings ULC (the “Vendor”), a wholly-owned subsidiary of Newmont, sold 9,500,000 common shares of Star Diamond Corporation (“Star Diamond”) held by the Vendor by way of a private placement transaction for an aggregate purchase price of $190,000.00, being $0.02 per share (the “Transaction”).

Pursuant to the Transaction, the Vendor sold 9,500,000 common shares of Star Diamond (“Star Diamond Shares”), representing approximately 1.54% of the issued and outstanding Star Diamond Shares as of the date of the Transaction. Accordingly, the disposition of the Vendor’s Star Diamond Shares represents a decrease in Newmont’s ownership from approximately 11.45% to 9.92% of the issued and outstanding Star Diamond Shares.

Newmont Canada has no current intention to acquire any Star Diamond Shares, but may, depending on market and other conditions, acquire beneficial ownership or control of the Shares or other securities of Star Diamond whether through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise.

This press release is issued pursuant to the early warning provisions of Canadian securities legislation. To obtain a copy of the Early Warning Report filed by Newmont under National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, please contact Neil Backhouse at +1 (303) 837-5002 or investor.relations@newmont.com.

Newmont’s address is 6900 E Layton Avenue, Suite 700, Denver, CO 80237.

About Newmont

Newmont is the world’s leading gold company and a producer of copper, zinc, lead, and silver. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in Africa, Australia, Latin America & Caribbean, North America, and Papua New Guinea. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social, and governance practices. Newmont is an industry leader in value creation, supported by robust safety standards, superior execution, and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.

At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont’s sustainability strategy and initiatives, go to www.newmont.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241219945100/en/

Investor Contact – Global

Neil Backhouse

investor.relations@newmont.com

Media Contact – Global

Jennifer Pakradooni

globalcommunications@newmont.com

Source: Newmont

FAQ

How many Star Diamond shares did Newmont (NEM) sell in the recent transaction?

Newmont sold 9,500,000 common shares of Star Diamond through a private placement transaction.

What was the total value of Newmont's (NEM) Star Diamond share sale?

The total value of the transaction was $190,000, with shares sold at $0.02 per share.

How much did Newmont's (NEM) ownership in Star Diamond decrease after the sale?

Newmont's ownership in Star Diamond decreased from approximately 11.45% to 9.92% of the issued and outstanding shares.

Will Newmont (NEM) acquire more Star Diamond shares in the future?

While Newmont currently has no intention to acquire additional Star Diamond shares, they may do so in the future depending on market conditions.