Brief: Newmont Acquires 50 Percent Stake In Galore Creek Project In British Columbia

NovaGold Resources

26/07/2018 12:14

July 26 (Reuters) - Newmont Mining Corp  NEM.N :
    * NEWMONT ACQUIRES 50 PERCENT STAKE IN GALORE CREEK PROJECT
IN
BRITISH COLUMBIA
    * NEWMONT MINING CORP - NOVAGOLD AGREEMENT ENCOMPASSES A
STAGED
AND CONTINGENT INVESTMENT OF $275 MILLION
    * NEWMONT MINING - AGREEMENTS TO BUY 50 PERCENT INTEREST IN
GALORE
CREEK PARTNERSHIP FROM NOVAGOLD RESOURCES, TO FORM PARTNERSHIP
WITH TECK RESOURCES
    * NEWMONT MINING - NOVAGOLD DEAL HAS INITIAL PAYMENT OF $100
MILLION; PAYMENT OF $75 MILLION ON EARLIER OF PREFEASIBILITY
STUDY COMPLETION/3 YRS FROM CLOSING

Source text for Eikon:  urn:newsml:reuters.com:*:nBw5fb4TKa
Further company coverage:  NEM.N