Rubicon Minerals Corp.

Published : January 21st, 2015

Newmont Divests Mining, Surface Rights to Pershing - Analyst Blog

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Keywords :   Australia | G Mexico | Gold | Gold Mine | Growth | Mexico |

Newmont Divests Mining, Surface Rights to Pershing - Analyst Blog

Newmont Mining Corporation (NEM) has sold its mining and surface use rights to around 1,600 acres of new long-term mining leases and 74 unpatented lode mining claims consisting of roughly 1,300 acres, to Pershing Gold Corporation. Newmont received an amount of $6 million in the entire transaction. The deal is inclusive of the takeover of a 20-year new mining lease acquired from New Nevada Lands, LLC, and New Nevada Resources, LLC.

Shares of Newmont rose around 5.7% to close at $23.57 yesterday.

The mining leases and claims in the transaction include lands adjoining Pershing's Relief Canyon Mine in Pershing County, NV. Pershing previously held these lands with Newmont under a Minerals Lease and Sublease. Through this transaction, a portion of the mineral sublease will be converted to long-term mining leases that considerably upgrade Pershing's mining and surface-use rights.

Newmont is focusing on its core businesses by disposing its non-core assets. Also, the company is working consistently in line with its strategy to deliver value to shareholders.

Newmont, in Oct 2014, completed the sale of its 44% stake in the Penmont joint venture in Mexico to Fresnillo plc for $450 million in cash. The company, in Jul 2014, also completed the sale of its Jundee underground gold mine in Australia to Northern Star Resources. Earlier, the company sold its Midas mine in Nevada to Klondex Mines Ltd.  

Newmont is one of the world’s largest unhedged gold producers. The company is making significant progress with its cost and efficiency improvement programs. Successful cost-reduction measures will allow the company to generate positive free cash flow and help it to mitigate the unfavorable impact of lower commodity prices.  Newmont also continues to invest in growth projects in a calculated manner.

Newmont currently carries a Zacks Rank #3 (Hold).

Better-ranked companies in the gold mining industry include Golden Star Resources, Ltd. (GSS), Pretium Resources Inc. (PVG) and Rubicon Minerals Corp. (RBY), all carrying a Zacks Rank #2 (Buy).


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Rubicon Minerals Corp.

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Rubicon Min. is a gold exploration company based in Canada.

Rubicon Min. holds various exploration projects in Canada.

Its main exploration properties are RED LAKE MCCUAIG, RED LAKE EAST BAY, RED LAKE NORTH, MCCUAIG, RED LAKE SLATE BAY, RED LAKE DMC, RED LAKE ADAMS LAKE, RED LAKE HUMLIN and RED LAKE PHOENIX GOLD in Canada.

Rubicon Min. is listed in Canada and in United States of America. Its market capitalisation is US$ 64.4 millions as of today (€ 56.9 millions).

Its stock quote reached its highest recent level on December 03, 2010 at US$ 6.34, and its lowest recent point on January 11, 2016 at US$ 0.03.

Rubicon Min. has 65 719 527 shares outstanding.

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Annual reports of Rubicon Minerals Corp.
2007 Annual report
Financings of Rubicon Minerals Corp.
3/12/2014Announces Closing of C$115 Million Bought Deal Financing
Nominations of Rubicon Minerals Corp.
9/8/2011Adds Operational Expertise to the Board with the Appointment...
Financials of Rubicon Minerals Corp.
11/13/2015Announces Filing of Its Third Quarter 2015 Financial Stateme...
Project news of Rubicon Minerals Corp.
11/13/2012Provides Operational and Drilling Update for F2 Gold System,...
5/12/2011(Red Lake Phoenix Gold)Rubicon Minerals Updates '9X' Drill Results
2/14/2011(Red Lake Phoenix Gold)Amended NI 43-101 Technical Report for Rubicon's Phoenix Gol...
3/31/2010(Red Lake Phoenix Gold)Provides Update on Underground Development at the F2 Gold Zo...
3/9/2010(Red Lake Phoenix Gold)Provides F2 Gold System Update, Red Lake, Ontario
2/3/2010(Red Lake Phoenix Gold)More High-Grade Gold at Rubicon's F2 Gold Zone, Red Lake, On...
3/2/2009(Red Lake Phoenix Gold)Receives Permits for Underground Advanced Exploration Progra...
2/11/2009(Red Lake Phoenix Gold)Hits New High-Grade Gold Northeast of F2 Zone, Phoenix Gold ...
8/26/2008(Red Lake Phoenix Gold) Continues to Hit More Bonanza Grade Gold in F2 Zone Drillin...
7/8/2008(Red Lake Phoenix Gold)Rubicon Hits Bonanza Grade Gold in F2 Zone Step-out Hole, Ph...
Corporate news of Rubicon Minerals Corp.
7/28/2016July 28, 2016 Rubicon Minerals Addresses Recent Trading Acti...
6/29/2016June 29, 2016 Rubicon Minerals Announces Results of its 2016...
5/19/2016May 19, 2016 Rubicon Minerals Announces Details for Its 2016...
5/12/2016May 12, 2016 Rubicon Minerals Announces Filing of its First ...
4/1/2016March 31, 2016 Rubicon Announces Board and Management Change...
3/22/2016March 22, 2016 Rubicon Minerals Announces Filing of its Annu...
1/15/2016Rubicon fournit une mise à jour de sa déclaration sur les re...
11/25/2015Is Cryolife Inc (CRY) A Good Stock To Buy?
11/3/2015November 3, 2015 Underground Activities Temporarily Suspende...
11/3/2015Underground Activities Temporarily Suspended at the Phoenix ...
10/6/2015Rubicon Minerals interrompt temporairement les opérations de...
10/5/2015Rubicon Minerals annonce la nomination d'un nouveau présiden...
10/5/2015October 5, 2015 Rubicon Minerals Announces Appointment of Ne...
10/5/2015October 5, 2015 Rubicon Minerals Temporarily Suspends Mill O...
10/5/20156:04 am Rubicon Minerals announces that CEO Michael A. Lalon...
10/5/2015Rubicon Minerals Temporarily Suspends Mill Operations; Under...
10/5/2015Rubicon Minerals Announces Appointment of New Interim Chief ...
8/21/2015Rubicon Minerals fournit une mise à jour sur le projet aurif...
8/20/2015August 20, 2015 Rubicon Minerals Provides an Update on the P...
8/20/20156:03 am Rubicon Minerals provides update on the progress of ...
8/20/2015Rubicon Minerals Provides an Update on the Phoenix Gold Proj...
8/13/2015Rubicon Minerals posts 2Q profit
4/15/2015Le Projet aurifère Phoenix de Rubicon entame la mise en serv...
4/14/2015April 14, 2015 Rubicon's Phoenix Gold Project Commences Mill...
4/14/2015Rubicon's Phoenix Gold Project Commences Mill Commissioning ...
4/9/2015Rubicon Minerals annonce la conclusion d'un financement par ...
4/9/2015April 9, 2015 Rubicon Minerals Announces Closing of C$30.2 M...
4/9/2015Rubicon Minerals Announces Closing of C$30.2 Million Flow-Th...
3/30/2015March 30, 2015 Rubicon Minerals Announces Filing of its Annu...
3/30/2015Rubicon Minerals Announces Filing of its Annual Financials f...
3/27/2015Cliffs Natural (CLF) Extends Exchange Offer for Senior Notes...
3/24/2015Barrick's (ABX) Pascua-Lama Has Not Damaged Glaciers - Analy...
3/23/2015Harmony Gold Mining (HMY) Looks Good: Stock Up 5.5% - Tale o...
3/19/2015Midway Gold Slumps: MDW Falls 12.5% in Session - Tale of the...
3/18/2015March 18, 2015 Rubicon Minerals Corporation Announces an Inc...
3/17/2015March 17, 2015 Rubicon Minerals Corporation Announces C$15 M...
1/21/2015Newmont Divests Mining, Surface Rights to Pershing - Analyst...
1/21/2015Kinross Gold Extends Offer for $500M in 5.95% Senior Notes -...
1/19/2015IAMGOLD Receives Regulatory Approvals to Sell Niobec Mine - ...
1/15/2015Silver Standard Posts FY14 Results, Provides FY15 View - Ana...
1/14/2015Yamana Gold Announces Equity Agreement Worth C$260.2M - Anal...
1/14/2015Goldcorp (GG) Announces Divestiture of Wharf Mine to Coeur -...
1/14/2015Golden Star Updates on FY14 Production, Gives FY15 View - An...
1/8/2015Le programme de forage intercalaire de Rubicon confirme la c...
1/7/2015January 7, 2015 Rubicon's Infill Drilling Program Confirms C...
1/7/2015Rubicon's Infill Drilling Program Confirms Continuity and Gr...
12/19/2014Rubicon commence à stocker les matériaux d'approvisionnement...
12/18/2014December 18, 2014 Rubicon Begins Stockpiling Mill Feed for P...
12/18/2014Rubicon Begins Stockpiling Mill Feed for Projected Productio...
11/25/2014Rubicon et Wabauskang First Nation sont parvenus à un accord...
11/24/2014November 24, 2014 Rubicon and Wabauskang First Nation Reach ...
11/24/2014Rubicon and Wabauskang First Nation Reach a Settlement Agree...
10/9/2014Rubicon Minerals (RBY) Shows Strength: Stock Up 8.3%
9/26/2014Rubicon recoupe 136,5 g/t d'or sur 4,0 mètres alors que le f...
9/26/2014Rubicon Minerals (RBY) Gains: Stock Jumps 9.5%
8/9/2013Files Technical Report for =?ISO-8859-1?Q?F2=20Gold=20System...
6/28/2013Announces Results of its 2013 Meeting of Shareholders
4/15/2013' Webcast - April 16th, 2013
3/25/2013Announces Filing of its Annual Financials for the Fiscal Yea...
2/21/2013' Webcast at BMO Capital Markets 22nd Global Metals & Mining...
9/5/2012' Webcast at Bank of America Merrill Lynch Conference
7/10/2012VERIFICATION FOR SUBSCRIPTION TO RUBICON MINERALS' NEWS
4/18/2012' news release subscription
1/23/2012David Adamson to appear on BNN Commodities
6/17/2011Provides Update to Annual and Special General Meeting Matter...
1/21/2010Rubicon and Lac Seul First Nation Sign Exploration Accommoda...
12/16/2009Provides year end F2 Gold System update, Red Lake, Ontario
2/2/2009Receives Permits to Commence Phoenix Shaft Dewatering and Re...
5/16/2007Abaddon Acquires Uranium Project from Rubicon Minerals Corp.
3/24/2006common accord struck with Africo to facilitate public offeri...
9/16/2005The Prolific Red Lake Gold Camp in Ontario
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