Newmont sells Porcupine to Discovery Silver for up to $425m

Discovery agreed to pay $200m in cash, $75m in its own shares and $150m in deferred cash for the Porcupine gold operation in Ontario. Newmont said it now had agreements to sell all its non-core operations, for up to $4.3bn in gross proceeds.

Why it matters. Paying partly in shares and deferred cash lets a smaller buyer take on a mine it could not fund outright.

Source

Newmont

In the course

Module 9: The M&A process