+ + data and comments + +

NEWMONT (NEM - NYSE): http://www.newmont.com/en/

Bigchart: http://bigcharts.marketwatch.com/javachart/javachart.asp?symb=US%3ANEM&time=&freq=

SHARES: 443 mill (all classes combined). Share price $US40.40. (NEM:NY); also $A5.55 ( NEM:AX, on a 1 per 10 basis (CDI's) and $CA55 (NMC:TSX). Market Cap: $US21 bill.

Annual Report, Dec. 31: http://www.newmont.com/en/investor/annualreport2003/sections/2003_results.pdf

No Hedging policy. All US DOLLARS: E/S was $US1.16 and the retrospective P/E is 34.8. (lower than that of the proposed WHEATON RIVER and IAMGOLD merger). NPAT: $475.7( $154.3 mill in 2002) mill and Shareholders Euity: $7.4 bill.

Profit/Equity: 6.4%. Revenue: $3.214 bill. Profit/Revenue: 14.8%. 7.4 mill ounces sold and equity gold reserves of 91.3 mill ounces left. Total Production cost: $266/ounce. $739 mill debt paid and now left with $1.1 Bill. debt. However, cash and cash equivalents exceed this by $237 mill.

Sensitivity to Gold Price Changes: "An annualized $10 change in the gold price changes annual net income by approximately $58 million, assuming all other factors remain constant. An annualized $10 change in the gold price changes annual cash generated by operating activities by approximately $68 million, assuming all other factors remain constant".

MINING AND EXPLORATION. Note the Newmont Factsheet is out of date:

http://www.newmont.com/en/ourbusiness/summary/index.asp

"OUR BUSINESS" has the details about Mining and Exploration-Somewhat out of date.
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GERBINO in an article "GERBINO ON GOLD" has this to say:

KG: I like Newmont (NEM - NYSE). They are the big dog on the block and should be part of everyone's portfolio. The institutions will all own this one. Newmont controls over 60 million acres of land on four continents in some of the best mineral belts in the world. They have 90 million oz of gold in reserves and another 56 million oz in the resource category.

They will produce over 7 million oz in 2004 at a cost of $225 per oz. They own 51% of the greatest gold mine in the world, Yanacocha, producing by itself over 3 million oz annually at a cost of $125 per oz The company has 260 active geologists and $1.2 billion in the bank. Every time gold goes up $1 the stock should move up 1% just based on it's typical cash flow multiple".

Gerry

Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.