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Newmont Mining Corp (NEM) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Newmont Mining Corp

CIK: 1164727 Ticker: NEM

Exhibit 99.1

Newmont Announces Third Quarter 2018 Results

DENVER--(BUSINESS WIRE)--October 25, 2018--Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) announced third quarter 2018 results.

  • Net income (loss): Delivered GAAP net income (loss) from continuing operations attributable to stockholders of $(161) million or $(0.31) per diluted share; delivered adjusted net income1 of $175 million or $0.33 per diluted share, down $0.01 compared to the prior year quarter
  • EBITDA: Generated $636 million in adjusted EBITDA2, down $20 million from the prior year quarter
  • Cash flow: Reported consolidated cash flow from continuing operations of $428 million and free cash flow3 of $154 million
  • Gold costs applicable to sales (CAS)4: Reported CAS of $691 per ounce, lower than the Company’s full year guidance
  • Gold all-in sustaining costs (AISC)5: Reported AISC of $927 per ounce, lower than the Company’s full year guidance
  • Attributable gold production: Produced 1.29 million ounces of gold, in line with the Company’s full year guidance
  • Portfolio improvements: Completed the CC&V concentrates project in North America; commissioned the primary crusher at Merian in South America; advanced the Tanami Expansion 2 project to definitive feasibility study in Australia; formed a strategic partnership with Evrim Resources in the Cuale gold project in Mexico; expanded regional exploration activities with an investment in Orosur Mining and an opportunity to participate in Miranda Gold’s Lyra project in Colombia
  • Financial strength: Ended the quarter with $3.1 billion cash on hand and net debt of $1.1 billion; an industry-leading balance sheet with investment-grade credit profile; and a quarterly dividend declared of $0.14 per share, an increase of 87 percent over the prior year quarter
  • Outlook: Improved 2018 corporate-level AISC per ounce and narrowed production outlook

“Newmont delivered $636 million in adjusted EBITDA and $154 million in free cash flow in the third quarter on the back of ongoing productivity improvements across the portfolio and higher grades in Africa and South America,” said Gary J. Goldberg, President and Chief Executive Officer. “We continued to advance profitable projects as we completed the CC&V concentrates project and commissioned the primary crusher at Merian, safely, on budget and on schedule. And we increased investment in Quecher Main, Subika Underground and the Ahafo Mill expansion during the period while increasing our dividend for the third quarter by 87 percent.”

Third Quarter 2018 Summary Results

Net income (loss) from continuing operations attributable to Newmont stockholders of $(161) million or $(0.31) per diluted share, a decrease of $374 million from the prior year quarter primarily due to the impairment of exploration and long-lived assets in North America and lower metal prices, partially offset by lower income tax expense.

Adjusted net income was $175 million or $0.33 per diluted share, compared to $184 million or $0.34 per diluted share in the prior year quarter resulting from lower metal prices. Primary adjustments to net income include $0.74 per diluted share related to impairments and a write-down in North America, $(0.14) per diluted share related to net tax adjustments and valuation allowances, and $0.04 per diluted share related to the change in fair value of marketable equity securities and a gain on asset and investment sales.


The following information was filed by Newmont Mining Corp (NEM) on Thursday, October 25, 2018 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

Document And Entity Information
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)
Commitments And Contingencies
Commitments And Contingencies - Environmental Matters (Details)
Commitments And Contingencies - Environmental Matters By Site (Details)
Commitments And Contingencies - Nwg Investments Inc V. Fronteer Gold Inc. (Details)
Commitments And Contingencies - Other Commitments (Details)
Commitments And Contingencies - Other Legal Matters - Administrative Matters (Details)
Condensed Consolidating Financial Statements
Condensed Consolidating Financial Statements (Tables)
Condensed Consolidating Financial Statements - Additional Information (Details)
Condensed Consolidating Financial Statements - Balance Sheet (Details)
Condensed Consolidating Financial Statements - Cash Flows (Details)
Condensed Consolidating Financial Statements - Statement Of Operations (Details)
Debt
Debt - Maturities (Details)
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Batu Hijau Contingent Consideration (Details)
Derivative Instruments - Diesel Derivative Contracts Outstanding (Details)
Derivative Instruments - Effect Of Cash Flow Hedge Accounting (Details)
Derivative Instruments - Embedded Derivatives (Details)
Derivative Instruments - Fair Values Of Instruments Designated As Hedges (Details)
Derivative Instruments - Location And Amount Of Gains (Losses) Reported In Financial Statements (Details)
Employee Pension And Other Benefit Plans
Employee Pension And Other Benefit Plans (Tables)
Employee Pension And Other Benefit Plans - Net Periodic Pension Costs (Details)
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 - Nonrecurring Measurement (Details)
Fair Value Accounting - Quantitative Information (Details)
Fair Value Accounting - Recurring Basis (Details)
Impairment Of Long-Lived Assets
Impairment Of Long-Lived Assets (Details)
Impairment Of Long-Lived Assets (Tables)
Income And Mining Taxes
Income And Mining Taxes (Tables)
Income And Mining Taxes - Tax Expense Reconciliation (Details)
Inventories
Inventories (Tables)
Inventories - Summary Of Inventories (Details)
Investments
Investments (Tables)
Investments - Equity Method (Details)
Investments - Marketable Securities - Amortized Cost/Fair Value (Details)
Investments - Marketable Securities - Asu 2016-01 Amortized Cost And Fair Value (Details)
Lease And Other Financing Obligations
Lease And Other Financing Obligations (Details)
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 - Consolidated Assets And Liabilities Of Vie (Details)
Net Income (Loss) Attributable To Nci - Net Income (Loss) (Details)
Net Income (Loss) Attributable To Nci - Ownership (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 (Tables)
Net Income (Loss) Per Common Share - Basic And Diluted (Details)
Net Income (Loss) Per Common Share - Shares Repurchased And Retired (Details)
Other Expense, Net
Other Expense, Net (Details)
Other Expense, Net (Tables)
Other Expense, Net - Other Information (Details)
Other Income, Net
Other Income, Net (Tables)
Other Income, Net - Other Information (Details)
Other Income, Net - Summary (Details)
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 Aoci
Reclassifications Out Of Aoci (Tables)
Reclassifications Out Of Aoci - Components Of Aoci (Details)
Reclassifications Out Of Aoci - Reclassifications (Details)
Sales
Sales (Tables)
Sales - Disaggregation Of Revenue (Details)
Sales - Impact Of Adoption - Cash Flow Changes (Details)
Sales - Impact Of Adoption - Condensed Consolidated Balance Sheet (Details)
Sales - Impact Of Adoption - Statement Of Operations (Details)
Sales - Impact Of Changes (Details)
Sales - Receivables Balance (Details)
Segment Information
Segment Information (Tables)
Segment Information - Financial Information Table (Details)
Stock Based Compensation (Tables)
Stock-Based Compensation
Stock-Based Compensation - Compensation Costs (Details)
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 Policies - Recently Adopted - Cash Flow Impact (Details)
Summary Of Policies - Recently Adopted - Cumulative Effect Revenue Recognition (Details)
Summary Of Policies - Recently Adopted - Investments (Details)
Summary Of Policies - Recently Adopted - Revenue Recognition (Details)
Summary Of Policies - Recently Issued - Leases (Details)
Summary Of Policies - Risks And Uncertainties (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Ticker: NEM
CIK: 1164727
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-18-007843
Submitted to the SEC: Thu Oct 25 2018 7:05:25 AM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Gold And Silver Ores

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