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Newmont Goldcorp Corp (NEM) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Newmont Mining Corp

CIK: 1164727 Ticker: NEM
Exhibit 99.1

Newmont Goldcorp Announces Third Quarter 2019 Results

DENVER--(BUSINESS WIRE)--November 5, 2019--Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (Newmont Goldcorp or the Company) today announced third quarter 2019 results.

  • Net income: Delivered GAAP net income from continuing operations attributable to Newmont Goldcorp stockholders of $2,226 million or $2.71 per diluted share; delivered adjusted net income1 of $292 million or $0.36 per diluted share, an increase of $0.03 compared to the prior year quarter
  • EBITDA: Generated $1,079 million in adjusted EBITDA2, an increase of 70 percent from the prior year quarter
  • Cash flow: Reported consolidated cash flow from continuing operations of $793 million and free cash flow3 of $365 million, an increase of 85 percent and 137 percent over the prior year quarter, respectively
  • Gold costs applicable to sales (CAS)4: Reported CAS of $733 per ounce, an increase of 6 percent over the prior year quarter
  • Gold all-in sustaining costs (AISC)5: Reported AISC of $987 per ounce, an increase of 10 percent over the prior year quarter
  • Attributable gold production: Produced 1.64 million ounces of gold, an increase of 28 percent over the prior year quarter
  • Portfolio improvements: Closed the Nevada Gold Mines joint venture; divested the Nimba iron ore project in Guinea; announced process to review potential sale opportunities for Red Lake in Canada; achieved commercial production at the Borden mine in Canada, Ahafo Mill Expansion in Ghana, and Quecher Main in Peru; advanced Tanami Expansion 2 to execution
  • Financial strength: Ended the quarter with $2.7 billion of consolidated cash and net debt of $4.8 billion, supporting an investment-grade credit profile; declared a third quarter dividend of $0.14 per share
  • Outlook: 2019 attributable production of 6.3 million ounces, CAS at $715 per ounce and AISC at $965 per ounce

“Newmont Goldcorp generated $1,079 million in adjusted EBITDA and $365 million in free cash flow for the third quarter, building momentum for an even stronger fourth quarter,” said Tom Palmer, President and Chief Executive Officer. “We expect to deliver $240 million in annual run-rate improvements by the end of 2019 and exceed our initial synergy targets from the Goldcorp acquisition. We also continued to strengthen our portfolio and advance profitable growth by bringing on Borden, the Ahafo Mill Expansion and Quecher Main on time and within budget.”

Third Quarter 2019 Summary Results

Net income (loss) from continuing operations attributable to Newmont stockholders for the quarter was $2,226 million or $2.71 per diluted share, an increase of $2,387 million from the prior year quarter primarily due to the gain recognized on the formation of Nevada Gold Mines as well as higher production and realized gold prices.

Adjusted net income was $292 million or $0.36 per diluted share, compared to $175 million or $0.33 per diluted share in the prior year quarter. The adjustments to net income of $2.35 primarily related to a gain on the formation of Nevada Gold Mines, transaction costs associated with the Newmont Goldcorp transaction, tax and valuation allowance adjustments, changes in the fair value of investments, and reclamation and remediation charges.


The following information was filed by Newmont Mining Corp (NEM) on Tuesday, November 5, 2019 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 (Detail)
Business Acquisition
Business Acquisition (Details)
Business Acquisition (Tables)
Business Acquisition - Pro-Forma Information (Details)
Business Acquisition - Purchase Price Allocation (Details)
Commitments And Contingencies
Commitments And Contingencies - Environmental Matters By Site (Details)
Commitments And Contingencies - Other Commitments (Details)
Commitments And Contingencies - Other Legal Matters - Nwg, Etc. (Details)
Commitments And Contingencies - Other Legal Matters - Yanacocha (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 (Tables)
Debt - Corporate Revolving Credit Facilities (Details)
Debt - Goldcorp Transactions (Details)
Debt - Maturities Of Long Term Debt (Details)
Derivative Instruments
Derivative Instruments (Tables)
Derivative Instruments - Batu Hijau Contingent Consideration (Details)
Derivative Instruments - Diesel Derivative Contracts Outstanding (Details)
Derivative Instruments - Embedded Derivatives (Details)
Derivative Instruments - Fair Values Of Instruments Designated As Hedges (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)
Equity Income (Loss) Of Affiliates
Equity Income (Loss) Of Affiliates (Details)
Equity Income (Loss) Of Affiliates (Tables)
Equity Income (Loss) Of Affiliates - Additional Information (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 - Quantitative Information (Details)
Fair Value Accounting - Recurring Basis (Details)
Impairment Of Long-Lived Assets
Impairment Of Long-Lived Assets (Details)
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 (Details)
Investments (Tables)
Investments - Purchases, Sales, And Exchanges (Details)
Lease And Other Financing Obligations
Lease And Other Financing Obligations (Tables)
Lease And Other Financing Obligations - Additional Information (Details)
Lease And Other Financing Obligations - Maturities (Details)
Lease And Other Financing Obligations - Parameters And Lease Cost (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)
Nevada Gold Mines Joint Venture
Nevada Gold Mines Joint Venture (Details)
Nevada Gold Mines Joint Venture (Tables)
Nevada Gold Mines Joint Venture - Net Assets/Liabilities (Details)
Nevada Gold Mines Joint Venture - Other Information (Details)
Other Asset (Details)
Other Assets
Other Assets (Tables)
Other Expense, Net
Other Expense, Net (Details)
Other Expense, Net (Tables)
Other Income, Net
Other Income, Net (Tables)
Other Income, Net - Components (Details)
Other Liabilities
Other Liabilities (Details)
Other Liabilities (Tables)
Property, Plant And Mine Development
Property, Plant And Mine Development (Details)
Property, Plant And Mine Development (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 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 (Details)
Summary Of Policies - Recently Adopted - Leases (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Ticker: NEM
CIK: 1164727
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-19-009890
Submitted to the SEC: Tue Nov 05 2019 3:08:09 AM EST
Accepted by the SEC: Tue Nov 05 2019
Period: Monday, September 30, 2019
Industry: Gold And Silver Ores

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