Melbourne, December 13, 2021 - Newcrest Mining Ltd. (ASX: NCM) (TSX: NCM) (PNGX: NCM) has entered into definitive agreements with Altus Strategies (Altus) (AIM: ALS) (TSXV: ALTS) (OTCQX: ALTUF) and AlphaStream Limited (AlphaStream) (private) to sell a portfolio of 24 royalties. Newcrest will receive total cash consideration of approximately US$37.5 million from Altus and AlphaStream payable upon completion of the transaction.
Completion of the transaction is expected to occur in two phases due to rights of first offer / refusal on select Australia exploration royalties. The transaction remains subject to Altus financing.
The royalties relate to Bonikro (Push Back 5), South Kalgoorlie Operations and Ballarat operating gold mines, and 21 development and exploration stage projects across Australia.
Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said, "We remain focused on capital discipline across our whole business and see the sale of these royalties as an opportunity to unlock value for Newcrest shareholders in response to continued competition for royalty investments."
Authorised by the Newcrest Disclosure Committee
For further information please contact
Investor Enquiries:
Tom Dixon
+61 3 9522 5570
+61 450 541 389
Tom.Dixon@newcrest.com.au
North American Investor Enquiries:
Ryan Skaleskog
+1 866 396 0242
+61 403 435 222
Ryan.Skaleskog@newcrest.com.au
Media Enquiries:
Tim Salathiel
+61 3 9522 4263
+61 407 885 272
Tim.Salathiel@newcrest.com.au
This information is available on our website at www.newcrest.com
This document includes forward looking statements and forward looking information within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "continue", "objectives", "targets", "outlook" and "guidance", or other similar words and may include, without limitation, statements regarding estimated reserves and resources, certain plans, strategies, aspirations and objectives of management, anticipated production, study or construction dates, expected costs, cash flow or production outputs and anticipated productive lives of projects and mines. Newcrest continues to distinguish between outlook and guidance. Guidance statements relate to the current financial year. Outlook statements relate to years subsequent to the current financial year.
These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Newcrest's actual results, performance and achievements or industry results to differ materially from any future results, performance or achievements, or industry results, expressed or implied by these forward-looking statements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which Newcrest operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. For further information as to the risks which may impact on Newcrest's results and performance, please see the risk factors included in the Appendix 4E and Financial Report for the year ended 30 June 2021 and the Annual Information Form dated 6 December 2021 which are available to view at www.asx.com.au under the code "NCM" and on Newcrest's SEDAR profile.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107504
