Asset Sale And Financial StrategyThe asset sale to Discovery Silver increases total cash proceeds from Newmont Mining's non-core asset divestiture program by $200M to $3.5B, supporting Newmont Mining's $3B share buyback program.
Capital Returns And Market ValuationDespite above peer production/EBITDA growth, NEM is trading at a discount to our Australian gold coverage at ~0.9x NAV, offering attractive near-term FCF yields of c. 10-15% and confidence in delivering robust capital returns.
Portfolio ManagementNewmont's portfolio will transition to a largely Tier 1 asset base, supporting accelerated de-leveraging and capital management, while non-core divestments improve group gold AISC by ~5-8%.