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UPDATE: Newmont Mining to Sell Midas Operation to Klondike Mines for $83M+

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Newmont Mining Corporation (NYSE: NEM) today announced the
signing of a Stock Purchase Agreement (the “Agreement”) under which
Klondex Mines Ltd. (OTC: KLNDF) will acquire Newmont's Midas
underground operation and mill complex in Nevada for total consideration
in excess of $83 million.

“We are pleased to have reached agreement with Klondex for the sale of
Midas and believe they are well positioned to continue safely and
successfully operating the mine,” said Randy Engel, Newmont's Executive
Vice President, Strategic Development. “This agreement underscores our
ongoing commitment to optimizing our portfolio, as we continue to focus
on our longer-life and lower cost core assets.”

The purchase price comprises approximately

See full press release

 

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