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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: goldsheet who wrote (3410)	9/27/2002 9:42:58 PM
From: d:oug	Read Replies (1) \| Respond to of 4051

To:russwinter.From:Bob Johnson."it's my problem not yours." . While my nature is to engage "all that is life" without hesitation, we all know one cannot yell "fiat" in a crowded room of gold bugs, we must obey many rules of society, and even be vigilant that unlike that saying "life is not fair" there exist situations one must avoid eventhought one has the right "of access." Simple example is once i lived in Salt Lake City, Utah (Ogen actually) and knew that those Taco Bell type eating places were not the real deal, Mexican food wise, i did locate an absolutely authentic Mom & Pop place that i do admit was a challenge for me since all menues were only written on a single chalk-board hung from the ceiling in Spanish. This was the lunch time and i no eat lunch, just one bigie late at night, so i returned about very late and expected the place to be closed, but it was not and actually was very busy with lots of customers, and and gulp i did as i saw that all were speaking Spanish and for sure most of these people were of age over 45 and most likely were born in Mexico. Now to me the how & why they were here via jobs was not a thought of mine, as law enforcemint was not the rumble in my belly, just the food noise, as in not got any and need some, but as i approached i knew that based on information i already obtained, that i could without any trouble or simple "placing myself in harms way" as a big NOT, i knew that this eating place was like a "moderated thread" where i was not forbidden to enter and eat(post) except i knew "why cause others' trouble" especially since i'am really the outsider once i step onto the dirt of this very small and extremely modest but authentic Mexican eatery. Almost like a nations' foreign embassy where the dirt is agreed upon as being the soil of another place while really it is not. . So, do i do what to me is a form of trespass, eventhought its in spirit only, and excerise my rights, and in this situation causing only others' grief while i seem to be the bully? . No, as i retreated and accepted that all folks need a place of refuge simply because life is hard for many, and those at the lower end of the economic ladder have enough of un-kind-ed foot prints already upon them by folks able to take advantage of the situation using both laws and force(police & military). . Was not a question of win or lose or lost or gain, just a decision by me not to push or pull away from others just because i can. . Amazing when one holds thoughts that are opposites, almost like gravity and the ec-anti-gravity type that if placed together result with a null'ing rather than x-plosion :o) as while i understand the negatives, i hold the positives and can place them together with a result non-null'ing and also not rumbling like matter & anti-matter. (so) Is this anything akin to Bob, answer is absolutely NOT. (or) A place, GPM thread, long ago, few months after i arrived and Gata Bill left, contained within, Bob's public postings, available, to all seened, by very few, dougak, saw what, the why of Bob's reaction to a "moderated thread" (with) my advice to Bob is to remove it, the this of above as your need to know onto others is really a no almost like an answer to a question unspoken but more accurate, a solution to a problem kept unknowned (with) its a battle you can not win as you already have had it lost by others, whom the battle was engaged (or) don't bring "there" "here" especially when cloaked it is not seened, but felt with confusion by those you talk to, except me, but like that bump in the night words have sounds here seened but not heard, only felt ak

To: goldsheet who wrote (3410)	10/1/2002 10:59:08 AM
From: long-gone	Respond to of 4051

8-K: NEWMONT MINING CORP /DE/ (EDGAR Online via COMTEX) -- Edgar Online has converted the HTML originally found in this filing document to plain text. Prepared by R.R. Donnelley Financial -- Form 8K -------------------------------------------------------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 -------------------------------------------------------------------------------- FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 October 1, 2002 Date of report (Date of Earliest Event Reported) Newmont Mining Corporation (Exact Name of Registrant as Specified in its Charter) Delaware 001-31240 84-1611629 (State or Other Jurisdiction (Commission (I.R.S. Employer of Incorporation) File Number) Identification No. -------------------------------------------------------------------------------- 1700 Lincoln Street Denver, Colorado 80203 (Address of Principal Executive Offices) -------------------------------------------------------------------------------- 303-863-7414 (Registrant's Telephone Number, Including Area code) -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- ITEM 5. OTHER EVENTS. In February 2002, Newmont Mining Corporation ("Newmont") acquired Normandy Mining Limited ("Normandy") and Franco-Nevada Mining Corporation Limited ("Franco-Nevada"). The following tables present pro forma proven and probable reserve information as of December 31, 2001 assuming that Newmont had acquired both Normandy and Franco-Nevada, and that Franco-Nevada had acquired its 45.3% interest in Echo Bay Mines Limited, in each case as of December 31, 2001. With respect to the pro forma reserve information for property owned by Normandy, the reserves reported by Normandy as of June 30, 2001 have been adjusted to reflect (a) depletion during the period between July 1, 2001 and December 31, 2001; (b) additional technical data collected by Normandy during that period; and (c) a gold price of US$300 per ounce, except for the equity amounts reported for Kalgoorlie and Boddington, where Normandy's gold price assumptions of A$475 per ounce and A$425 per ounce, respectively, were retained. Except as provided in footnote 8 to the tables, no changes were made to Newmont's proven and probable reserve information reported in Newmont's Form 10-K for the year ended December 31, 2001 which was based on information available at the time Newmont's reserves were calculated. With the acquisitions of Normandy and Franco-Nevada, Newmont had worldwide pro forma gold reserves of 87.3 million equity ounces of gold as of December 31, 2001. Normandy had reported reserves of 26.4 million equity ounces as of June 30, 2001 (the date of its last reserve report). References to "equity ounces" or "equity pounds" mean that portion of gold, copper or zinc in proven and probable reserves that is attributable or proportionate to Newmont's ownership or economic interest. The term "reserve" means that part of a mineral deposit that can be economically and legally extracted or produced at the time of the reserve determination. The term "economically," as used in the definition of reserve, implies that profitable extraction or production has been established or analytically demonstrated, in a full or bankable feasibility study, to be viable and justifiable under reasonable investment and market assumptions. The term "legally," as used in the definition of reserve, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. However, for a reserve to exist, Newmont must have a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with Newmont's current mine plans. The term "proven reserves" means reserves for which (a) quantity is computed from dimensions revealed in outcrops, trenches, workings or drill holes; (b) grade and/or quality are computed from the result of detailed sampling; and (c) the sites for inspection, sampling and measurements are spaced so closely and the geologic character is 2 -------------------------------------------------------------------------------- sufficiently defined that size, shape, depth and mineral content of reserves are well established. The term "probable reserves" means reserves for which quantity and grade are computed from information similar to that used for proven reserves but the sites for sampling are farther apart or are otherwise less adequately spaced. The degree of assurance, although lower than that for proven reserves, is high enough to assume continuity between points of observation. Proven and probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which economic feasibility has been determined. The price sensitivity of reserves depends upon several factors including grade, waste-to-ore ratios and ore type. Included in Newmont's reserves are 680,794 ounces of gold committed under a prepaid forward sales contract. Recovery rates vary depending on the metallurgical properties of each deposit and the production process used. The reserve tables list the average recovery rate for each deposit which takes into account the several different processing methods scheduled to be used. The cutoff grade, or lowest grade of mineralized material considered economic to process, varies with material type, metallurgical recoveries, and operating costs. The proven and probable reserves figures presented herein are estimates, and no assurance can be given that the indicated levels of recovery of gold, copper or zinc will be realized. Ounces of gold or pounds of copper and zinc in the proven and probable reserves are prior to any losses during metallurgical treatment. Reserve estimates may require revision based on actual production experience. Market price fluctuations of gold, copper and zinc as well as increased production costs or reduced recovery rates could render proven and probable reserves containing relatively lower grades of mineralization uneconomic to exploit and might result in a reduction of reserves. 3 -------------------------------------------------------------------------------- Newmont Mining Corporation, December 31, 2001-U.S. Units Pro Forma Gold Reserves Equity Proven and Probable Gold Reserves (1) ------------------------------- Equity Tonnage Ownership (000 Grade Ounces Metallurgical (%) tons) (oz/ton) (000) Recovery (%) --------- --------- -------- ------ ------------- North America Nevada Carlin Open Pits 100.0 % 107,402 0.052 5,601 66 % Twin Creeks 100.0 % 57,443 0.089 5,088 86 % Lone Tree Complex 100.0 % 29,247 0.065 1,893 75 % Carlin Underground 100.0 % 11,153 0.56 6,240 93 % Midas 100.0 % 3,371 0.67 2,250 97 % Nevada Stockpiles and In-Process 100.0 % 75,378 0.055 4,143 76 % Phoenix (2) 100.0 % 174,177 0.034 5,991 82 % --------- - --------- -------- ------ ------------- ---- Total Nevada 458,171 0.068 31,206 --------- -------- ------ Other North America Mesquite, California (3) 100.0 % 8,424 0.014 118 61 % Golden Giant, Ontario 100.0 % 3,560 0.29 1,042 96 % Holloway, Ontario (4) 89.35 % 3,373 0.19 641 94 % La Herradura, Sonora, Mexico 44.0 % 20,823 0.030 626 71 % Total Other North America 36,180 0.067 2,427 --------- - --------- -------- ------ ------------- ---- TOTAL NORTH AMERICA 494,351 0.068 33,633 --------- -------- ------ South America Minera Yanacocha Oxide, Peru 51.35 % 625,489 0.028 17,548 73 % Kori Kollo, Bolivia 88.0 % 19,136 0.032 614 63 % --------- - --------- -------- ------ ------------- ---- TOTAL SOUTH AMERICA 644,625 0.028 18,162 --------- -------- ------ Australia/Oceania Boddington, Western Australia (5) 44.44 % 190,855 0.025 4,853 89 % Golden Grove, Western Australia (6) 100.0 % 1,411 0.044 62 60 % Kalgoorlie, Western Australia (7) 50.0 % 93,641 0.061 5,724 90 % Pajingo, Queensland (8) 100.0 % 2,409 0.38 919 97 % Tanami, Northern Territory (9) 86.49 % 18,570 0.14 2,654 96 % Yandal, Western Australia 100.0 % 20,189 0.11 2,207 93 % Martha, New Zealand (9) 82.22 % 5,817 0.097 563 94 % --------- - --------- -------- ------ ------------- ---- TOTAL AUSTRALIA/OCEANIA 332,892 0.051 16,982 --------- -------- ------ Asia and Europe Batu Hijau, Indonesia (10) 56.25 % 562,566 0.011 6,143 81 % Minahasa, Indonesia (11) 94.0 % 1,496 0.15 222 90 % Zarafshan-Newmont, Uzbekistan 50.0 % 77,467 0.042 3,261 55 % Ovacik, Turkey 100.0 % 1,220 0.35 433 91 % Perama, Greece 80.0 % 9,698 0.11 1,048 90 % --------- - --------- -------- ------ ------------- ---- TOTAL ASIA and EUROPE 652,447 0.017 11,107 --------- -------- ------ Africa Yamfo-Sefwi, Ghana (12) 85.6 % 44,852 0.074 3,330 91 % --------- - --------- -------- ------ ------------- ---- TOTAL AFRICA 44,852 0.074 3,330 --------- -------- ------ TOTAL NEWMONT WORLDWIDE (13) 2,169,167 0.038 83,214 --------- -------- ------ EQUITY INTERESTS TVX Normandy-Americas (14) 49.9 % 115,176 0.020 2,344 nr (15) Echo Bay Mining (16) 45.3 % 72,894 0.024 1,732 nr (15) --------- - --------- -------- ------ ------------- ---- TOTAL EQUITY INTERESTS 188,070 0.022 4,076 --------- -------- ------ TOTAL NEWMONT REPORTABLE 2,357,237 0.037 87,290 --------- -------- ------ -------------------------------------------------------------------------------- (1) Except where otherwise noted, such reserves are based on $300/oz gold price. (2) Reserve based on $350/oz gold price. (3) Mining completed in 2001, reserves are from material under leach. (4) Percentage reflects Newmont's weighted equity interest from 84.65% interest in Holloway JV and 100% interest in remaining reserves. In 2000 this percentage was 88.3% (5) Reserve based on A$425/oz gold price. (6) Contained gold in reserves not reported in June 2001 by Normandy. Gold reported in reserves is that contained within Zn ore bodies only. (7) Reserve based on A$475/oz gold price. (8) Revised reserve from previous Newmont public disclosures, formerly reported as 2,304,000 tons at 0.39 opt, containing 907,000 ounces (453,000 equity ounces). (9) Percentage reflects Normandy's equity interest as of December 31, 2001, while Otter transaction was in progress. (10) Percentage reflects Newmont's economic interest in remaining reserves, unchanged from 2000. (11) Percentage reflects Newmont's economic interest in remaining reserves. In 2000 this percentage was 95.9% (12) Percentage reflects Normandy's weighted equity interest of 50% in Ntotoroso and 100% in remaining reserves. (13) Included in the total reserves are 680,794 ounces of gold committed under a pre-paid forward sales contract. (14) TVX Normandy-Americas includes varying interests in: Musselwhite Mine, Ontario; New Britannia Mine, Manitoba; Paracatu Mine, Brazil; Crixas Mine, Brazil; La Coipa Mine, Chile; and Gurupi Project, Brazil. Newmont has agreed to sell its 49.9% interest in TVX Newmont-Americas pursuant to a transaction expected to closed later in 2002. (15) Not Reported on an aggregate basis. (16) Reflects 45.3% of Echo Bay reserves as of December 31, 2001. Newmont acquired its interest in Echo Bay in the second quarter of 2002. Echo Bay Mines holds varying interests in: Round Mountain Mine, Nevada; McCoy-Cove Mine, Nevada; Lupin Mine, Northwest Territories; Kettle River Project, Washington; Aquarius Project, Ontario; and Ulu Project, Burkina Faso. Newmont has agreed to exchange its shares in Echo Bay for shares in Kinross Gold pursuant to a transaction expected to close later in 2002. 4 -------------------------------------------------------------------------------- Base Metal Reserves at December 31, 2001-U.S. Units Pro Forma Copper Reserves Equity Proven and Probable Copper Copper Reserves (1) -------------------------------------------------------- -------------------------------- Equity Tonnage Copper Ownership (000 Grade (million Metallur-gical (%) tons) (Cu%) pounds) Recovery (%) ---------- -------- ----- --------- -------------- Phoenix, Nevada 100.0 % 156,323 0.16 % 515 85 % Batu Hijau, Indonesia (2) 56.25 % 562,567 0.49 % 5,484 92 % Boddington, Western Australia 44.44 % 190,855 0.12 % 458 76 % Golden Grove, Western Australia 100.0 % 3,978 4.1 % 326 88 % ---------- - -------- ----- - --------- -------------- - TOTAL NEWMONT COPPER 913,723 0.37 % 6,783 -------- ----- - --------- Pro Forma Zinc Reserves Equity Proven and Probable Zinc Zinc Reserves(1) -------------------------------------------------------- -------------------------------- Equity Tonnage Zinc Ownership (000 Grade (million Metallur-gical (%) tons) (Zn%) pounds) Recovery (%) ---------- -------- ----- --------- -------------- Golden Grove, Western Australia 100.0 % 1,411 13.3 % 375 91 % ---------- - -------- ----- - --------- -------------- - TOTAL NEWMONT ZINC 1,411 13.3 % 375 -------- ----- - --------- -------------------------------------------------------------------------------- (1) Includes reserves held by Normandy Mining Limited as at December 31, 2001. (2) Percentage reflects Newmont's economic interest in remaining reserves. This document contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor created thereby. Such forward-looking statements include, without limitation, (i) estimates of reserves and future reserve growth potential, and (ii) estimates of future operations. Where the company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such forward-looking statements are subject to risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such risks include, but are not limited to, gold price volatility, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation. For a more detailed discussion of such risks and other factors, see Page 8 of the company's 2001 Annual Report on Form 10-K which is on file with the Securities and Exchange Commission, as well as the company's other SEC filings. 5 -------------------------------------------------------------------------------- SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: October 1, 2002 NEWMONT MINING CORPORATION By: /s/ Britt D. Banks ------------------------------- Name: Britt D. Banks Title: Vice President, General Counsel and Secretary