Newmont conference call – In talks to sell Indonesian assets
There has been a story going around that Newmont could receive a bid for its Indonesian operation, Batu Hijau. This has been going around for a long time and has recently been put into ink in January this year by Bloomberg. On the earnings call, Gary Goldberg confirmed that Newmont is in fact in discussions. This is a 3 billion $ deal folks. This will allow Newmont to have a net debt of zero. This quarter had poor headline numbers but do not let that deter you from the story. This quarter was an aberration due to even more problems in Indonesia. Do not underestimate this deal. They will be ditching copper assets(which no gold miner in his right mind should have) and TOTALLY change the balance sheet. Gary Goldberg is the best CEO in the game right now. Hold those shares.