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Gold/Mining/Energy : Franco-Nevada (FN - TSE) - zero debt, cash rich royalty co. -- Ignore unavailable to you. Want to Upgrade?

To: Traveling Man who wrote (482)	12/11/2001 6:33:23 PM
From: Jim Bishop	Read Replies (1) \| Respond to of 511

Franco-Nevada comments on new Newmont bid for Normandy TORONTO, Dec. 11 /CNW/ - Franco-Nevada Mining Corporation Limited (TSE:FN) today announced that it had taken note of the revised offer to be made by Newmont Mining Corporation (NYSE:NEM) to acquire the ordinary shares of Normandy Mining Limited (AUS:NDY). Pierre Lassonde, President and Co-Chief Executive Officer of Franco-Nevada, currently in Australia, commented that "Although this amendment will not result in any direct economic benefit to Franco-Nevada - or its shareholders - who will continue to receive 0.8 common shares of Newmont for each of their shares of Franco-Nevada - this is another step towards the creation of the premier global gold company which management believes has superior share price appreciation potential." Mr. Lassonde, said "It is unfortunate that AngloGold feels that it is necessary to continue to confuse the choice to be made by shareholders of Normandy. Newmont is offering Normandy shareholders a clearly superior alternative. The market shows that the Newmont offer affords them the greatest value, including twice the cash that AngloGold has put on the table." He noted that, "As a shareholder, director and officer of Franco-Nevada, I am committed to this transaction. It has the full approval of our Board and our key shareholders. We have complete confidence that the shareholders of Franco-Nevada, who have overwhelmingly endorsed the other initiatives proposed by the Franco-Nevada board over the past 18 years, will show similar support. Based on our conversations with shareholders of Newmont, Normandy and Franco- Nevada, we believe their support of this transaction is very solid." He also noted that, while Newmont's offer is subject to conditions usual for a transaction of this type, Franco-Nevada and its advisors have no reason to expect that these conditions cannot be satisfied. Franco-Nevada intends to convene the meeting of its shareholders to consider the transaction on January 30, 2002 and to mail the related materials to its shareholders in the last week of December.