Ann: Newmont Generates Net Cash from Continuing O, page-2

re: Ann: Newmont Generates Net Cash from Cont... Sydney - Friday - May 1: (RWE Australian Business News) -
Newmont Mining Corporation (ASX:NEM) net income (on a GAAP basis) fell
48pc to $US189m or US40c per share in the three months ended March 31
from $US365m or US81c per share in the first quarter last year,
primarily due to lower realised gold and copper prices.
Net cash from continuing operations was $387m (82c per share)
with equity gold sales of 1.27m ounces at an average realised gold price
of $906 per ounce.
Costs applicable to sales were $435 per ounce and adjusted net
income was $208 million (44c per share).
The company is maintaining its previously announced 2009 equity
gold sales outlook of between 5.2m and 5.5m ounces at costs applicable
to sales of between $400 and $440 per ounce.

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"Our operations provided solid results that were in line with
our expectations and this performance sets us up well to deliver on our
operating plans for the full year in 2009.
"Project execution is also going well and is a clear focus for
the balance of the year.
"Completing our Boddington project by mid-year and successfully
ramping up to commercial production is a clear driver of our 2009
performance," president and chief executive Mr Richard O'Brien said.
He added, "Lower commodity prices relative to last year both
hurt and helped our performance in the first quarter.
"Lower copper prices, in particular, negatively impacted our
earnings and cashflow.
"On the positive side, lower-than-expected diesel costs and
Australian dollar exchange rates resulted in lower-than-expected costs
applicable to sales.
"If input commodity prices remain at our forecasted levels for
the balance of the year and gold stays in the current trading range, we
expect expanding margins for the rest of the year."