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Strategies & Market Trends : Strictly: Drilling II

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To: Frank Pembleton who started this subject	11/14/2001 8:30:18 AM
From: Frank Pembleton	Read Replies (3) of 36161

Newmont makes bids for Normandy, Franco-Nevada TORONTO, Nov 14 (Reuters) - Newmont Mining Corp. (NYSE:NEM - news) said on Wednesday it will make deals for both Normandy Mining Ltd. (Australia:NDY.AX - news) and Franco-Nevada Mining Corp. Ltd. (Toronto:FN.TO - news) -- making Newmont the world's biggest gold producer. Newmont, already North America's biggest gold producer, said in a release that it will make an offer to buy Australia's Normandy Mining for 0.0385 common shares of Newmont for each Normandy share. In addition, it will pay 5 Australian cents a share if it is accepted by at least 90 percent of the shareholders. Newmont also said it agreed to buy Toronto-based Franco-Nevada in a stock-for-stock transaction where Franco shareholders will receive 0.8 of a Newmont share for each share tendered to the offer. biz.yahoo.com

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