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Newmont Corp (NEM) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2020

SEC Filings

NEM Quarterly Reports

Newmont Mining Corp

CIK: 1164727 Ticker: NEM
Exhibit 99.1

Newmont Announces Solid First Quarter 2020 Results

Company responds to COVID-19 from position of strength; proven operating model and  globally diverse portfolio highlight competitive advantage

DENVER--(BUSINESS WIRE)--May 5, 2020--Newmont Corporation (NYSE: NEM, TSX: NGT) (Newmont or the Company) today announced first quarter 2020 results.

COVID-19 response

  • Fully mobilized rapid response crisis management teams and business continuity plans and are working closely with host and indigenous communities, regional and national governments and medical experts to protect Newmont's workforce and nearby communities
  • Implemented wide-ranging controls at the Company's operations and offices to put the health, safety, and overall wellbeing of Newmont's people and communities above all else, including significantly minimized staffing levels at the Company's operations
  • Established global supply chain task force to assess potential risks and develop viable contingency plans
  • Two operations temporarily in care and maintenance while sites representing approximately 90 percent of the Company's planned 2020 production are operating
  • Established $20 million Global Community Support Fund focused on employee and community health, food security and local economic resilience through partnerships with local governments, medical institutions, charities and non-governmental organizations to address the greatest needs

First quarter 2020 highlights

  • Produced 1.5 million attributable ounces of gold* and reported CAS* of $781 per ounce and AISC* of $1,030 per ounce and produced 339 thousand attributable gold equivalent ounces from co-products
  • Generated $939 million of cash from continuing operations and $611 million of Free Cash Flow*
  • Received $1.4 billion in cash proceeds from the sale of KCGM, Continental Gold and Red Lake
  • Refinanced $1.0 billion of outstanding debt at historically low coupon of 2.25 percent
  • Executed ~$300 million of share repurchases at average price of $45 with 80 percent of $1 billion buyback program now complete
  • Reported $3.7 billion of consolidated cash with $6.6 billion of liquidity and a net debt to pro forma adjusted EBITDA* ratio of 0.7x
  • Declared first quarter dividend of $0.25 per share, an increase of 79 percent over prior year quarter

“We are responding to COVID-19 from a position of strength, taking proactive steps to prioritize the well-being of our employees and the communities in which we operate. These unprecedented times further highlight the importance of a proven operating model, talented workforce and the ability to adapt to dynamic circumstances quickly and with care for all stakeholders," said Tom Palmer, President and Chief Executive Officer. “Our world-class diversified portfolio of assets and resilient team delivered solid first quarter performance with $1.1 billion in adjusted EBITDA and $611 million in free cash flow. Our robust balance sheet provides us with significant financial flexibility to continue allocating capital where it is needed most during this time of uncertainty, while maintaining our industry-leading returns to shareholders."

*See footnotes provided at end of release, as well as the cautionary statement at end of release regarding forward-looking statements, including with respect to financial and operating outlook and expected returns to shareholders.


The following information was filed by Newmont Mining Corp (NEM) on Tuesday, May 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Newmont Mining Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover
Condensed Consolidated Balance Sheets
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Cash Flows (Parentheticals)
Condensed Consolidated Statements Of Changes In Equity
Condensed Consolidated Statements Of Changes In Equity (Parenthetical)
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Comprehensive Income (Loss) (Parentheticals)
Condensed Consolidated Statements Of Operations
Basis Of Presentation
Basis Of Presentation (Details)
Business Acquisition
Business Acquisition (Tables)
Business Acquisition - Fair Value Of Consideration Transferred (Details)
Business Acquisition - Pro-Forma Information (Details)
Business Acquisition - Purchase Price Allocation (Details)
Commitments And Contingencies
Commitments And Contingencies - Environmental Matters (Details)
Commitments And Contingencies - Other Commitments And Contingences (Details)
Commitments And Contingencies - Other Legal Matters - Nwg, Etc. (Details)
Commitments And Contingencies - Other Legal Matters - Yanacocha (Details)
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt - Minimum Debt Repayments (Details)
Employee Pension And Other Benefit Plans
Employee Pension And Other Benefit Plans (Details)
Employee Pension And Other Benefit Plans (Tables)
Equity Income (Loss) Of Affiliates
Equity Income (Loss) Of Affiliates (Details)
Equity Income (Loss) Of Affiliates (Tables)
Fair Value Accounting
Fair Value Accounting (Tables)
Fair Value Accounting - Changes In The Fair Value Of Level 3 Financial Assets And Liabilities (Details)
Fair Value Accounting - Quantitative Information (Details)
Fair Value Accounting - Recurring Basis (Details)
Income And Mining Taxes
Income And Mining Taxes (Details)
Income And Mining Taxes (Tables)
Inventories
Inventories (Details)
Inventories (Tables)
Investments
Investments (Details)
Investments (Tables)
Net Change In Operating Assets And Liabilities
Net Change In Operating Assets And Liabilities (Details)
Net Change In Operating Assets And Liabilities (Tables)
Net Income (Loss) Attributable To Nci (Details)
Net Income (Loss) Attributable To Noncontrolling Interests
Net Income (Loss) Attributable To Noncontrolling Interests (Tables)
Net Income (Loss) From Discontinued Operations
Net Income (Loss) From Discontinued Operations (Tables)
Net Income (Loss) From Discontinued Operations - Holt Royalty Obligation (Details)
Net Income (Loss) From Discontinued Operations - Summary (Details)
Net Income (Loss) Per Common Share
Net Income (Loss) Per Common Share (Details)
Net Income (Loss) Per Common Share (Tables)
Nevada Gold Mines Transactions
Nevada Gold Mines Transactions (Details)
Other Expense, Net
Other Expense, Net (Details)
Other Expense, Net (Tables)
Other Income, Net
Other Income, Net (Details)
Other Income, Net (Tables)
Other Liabilities
Other Liabilities (Details)
Other Liabilities (Tables)
Reclamation And Remediation
Reclamation And Remediation (Tables)
Reclamation And Remediation - Additional Information (Details)
Reclamation And Remediation - Expense (Details)
Reclamation And Remediation - Reconciliation Of Obligation (Details)
Reclassifications Out Of Accumulated Other Comprehensive Income (Loss)???
Reclassifications Out Of Accumulated Other Comprehensive Income (Loss)??? (Tables)
Reclassifications Out Of Accumulated Other Comprehensive Income (Loss)??? - Reclassifications (Details)
Recreclassifications Out Of Accumulated Other Comprehensive Income (Loss)??? - Components Of Aoci (Details)
Sales
Sales (Tables)
Sales - Additional Information (Details)
Sales - Disaggregation Of Revenue (Details)
Sales - Receivables Balance (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Segment Information - Assets Sales (Details)
Stock-Based Compensation
Stock-Based Compensation (Details)
Stock-Based Compensation (Tables)
Stockpiles And Ore On Leach Pads
Stockpiles And Ore On Leach Pads (Tables)
Stockpiles And Ore On Leach Pads - By Location (Details)
Stockpiles And Ore On Leach Pads - Write-Downs (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Details)
Summary Of Significant Accounting Policies (Policies)
Ticker: NEM
CIK: 1164727
Form Type: 10-Q Quarterly Report
Accession Number: 0001164727-20-000132
Submitted to the SEC: Tue May 05 2020 6:40:09 AM EST
Accepted by the SEC: Tue May 05 2020
Period: Tuesday, March 31, 2020
Industry: Gold And Silver Ores

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