Global miner Newmont has completed the sale of its common shares of Orla Mining, for aggregate gross proceeds of US$439 million (C$605 million).<\/p>\n\n\n\n
\n\u201cToday\u2019s announcement demonstrates Newmont\u2019s ongoing commitment to streamlining our equity portfolio and unlocks significant cash to support Newmont\u2019s capital allocation priorities,\u201d said Newmont CEO Tom Palmer.<\/p>\n<\/blockquote>\n\n\n\n
\u201cWe value the strong relationship we\u2019ve had with Orla since our initial investment. From the development of Camino Rojo to the acquisition of Musselwhite from Newmont early this year, we are delighted to have been part of Orla\u2019s beginning. While this marks the end of our ownership in Orla, we are confident in their continued ability to drive value for shareholders.\u201d<\/p>\n\n\n\n
Before the sale, Newmont held about 43 million common shares, which represented 13.3% of the issued and outstanding shares on a non-diluted basis. As a result of this disposition, Newmont no longer holds any common shares of Orla.<\/p>\n\n\n\n
\u201cOrla\u2019s portfolio has been built, in part, through the acquisition of former Newmont assets. We are grateful for the confidence placed in us to advance these projects responsibly and to unlock their full potential. As we continue to execute on our growth strategy, we remain focused on creating long-term value for our stakeholders while broadening and diversifying our investor base,\u201d said Orla President and CEO Jason Simpson.<\/p>\n","protected":false},"excerpt":{"rendered":"
Global miner Newmont has completed the sale of its common shares of Orla Mining, for aggregate gross proceeds of US$439 million (C$605 million). \u201cToday\u2019s announcement demonstrates Newmont\u2019s ongoing commitment to streamlining our equity portfolio and unlocks significant cash to support Newmont\u2019s capital allocation priorities,\u201d said Newmont CEO Tom Palmer. \u201cWe value the strong relationship we\u2019ve had with Orla since our…<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12],"tags":[1020,1190,811],"coauthors":[1633],"class_list":["post-11180","post","type-post","status-publish","format-standard","hentry","category-the-headlines","tag-camino-rojo","tag-newmont","tag-orla-mining"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t