Newman Mining (NEM.US) to sell Ontario Gold mine to Orla Mining (ORLA.US) for up to $850 million

Market IntelMonday, Nov 18, 2024 8:40 am ET

1min read

ORLA --

Newman Mining (NEM.US) said on Monday it agreed to sell its Musselwhite gold mine in Ontario to Orla Mining (ORLA.US) for $850 million, including a $810 million cash upfront payment and a $40 million contingent payment linked to gold prices.

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No-Explanation7351

11/18

How will this mine transition affect the local community in Ontario? Hope Orla Mining has a solid social responsibility plan in place to support the area. Anyone have insights into Orla's past community engagement efforts?

bllshrfv

11/18

Finally, a strategic move by Newman Mining! Divesting non-core assets to focus on what really matters. Hope this sets the stage for more such decisions. Watching NEM.US closely for the next quarter...

bobbybobby911

11/18

Musselwhite mine is an excellent asset, but I'm surprised it didn't fetch a higher price. $850 million is a good deal, but could NEM.US have negotiated better terms? Would love to see the sale agreement details.

superbilliam

11/18

Well, Orla Mining just became the coolest kid on the block! Acquiring the Musselwhite mine for nearly $850 million is no joke. What's next for ORLA.US? Buying a private island for their CEO perhaps?

AkibaSok

11/18

This is a huge win for NEM.US shareholders! $850 million is a staggering price for the Musselwhite mine, can't wait to see the impact on our portfolios!

k_ristovski

11/18

Let's not get too excited, folks. The contingent payment is linked to gold prices, which can be volatile. How will NEM.US allocate the proceeds from this sale? Need more clarity before I celebrate.

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