Melbourne, Australia--(Newsfile Corp. - February 27, 2022) - Newcrest Mining Limited (ASX: NCM) (TSX: NCM) (PNGX: NCM) (Newcrest) is pleased to announce that it has received approval under the Investment Canada Act and that all regulatory approvals have now been obtained in relation to the acquisition of Pretium Resources Inc. (Pretivm) (TSX: PVG) (NYSE: PVG) by way of Canadian Plan of Arrangement (Transaction).
The Transaction is expected to complete on or about 9 March 2022 (Vancouver time). Following completion of the Transaction, Newcrest intends to provide a further update.
The Transaction, as announced on 9 November 2021, adds a large scale, long life and low cost mine to Newcrest's portfolio of Tier 1 assets, and is expected to increase Newcrest's annual gold production to well above 2Moz.[1],[2],[3] The combination of Newcrest and Pretivm will create the largest gold miner in the Tier 1 jurisdiction of British Columbia, operating both the Brucejack and Red Chris mines.
Authorised by the Newcrest Disclosure Committee
For further information please contact
Investor Enquiries
Tom Dixon
+61 3 9522 5570
+61 450 541 389
Tom.Dixon@newcrest.com.au
North American Investor Enquiries
Ryan Skaleskog
+1 866 396 0242
+61 403 435 222
Ryan.Skaleskog@newcrest.com.au
Media Enquiries
Tim Salathiel
+61 3 9522 4263
+61 407 885 272
Tim.Salathiel@newcrest.com.au
This information is available on our website at www.newcrest.com.
Forward Looking Statements
This document includes forward looking statements and forward looking information within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "continue", "objectives", "targets", "outlook" and "guidance", or other similar words and may include, without limitation, statements regarding estimated reserves and resources, certain plans, strategies, aspirations and objectives of management, anticipated production, study or construction dates, expected costs, cash flow or production outputs and anticipated productive lives of projects and mines. The Company continues to distinguish between outlook and guidance. Guidance statements relate to the current financial year. Outlook statements relate to years subsequent to the current financial year.
These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, and achievements to differ materially from any future results, performance or achievements, or industry results, expressed or implied by these forward looking statements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. For further information as to the risks which may impact on the Company's results and performance, please see the risk factors included in the Operating and Financial Review included in the Appendix 4E and Financial Report for the year ended 30 June 2021 and the Annual Information Form dated 6 December 2021 which are available to view at www.asx.com.au under the code "NCM" and on Newcrest's SEDAR profile.
Forward looking statements are based on Newcrest's good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect Newcrest's business and operations in the future. Newcrest does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, and many events are beyond the reasonable control of Newcrest. Readers are cautioned not to place undue reliance on forward looking statements, particularly in the current economic climate with the significant volatility, uncertainty and disruption caused by the COVID-19 pandemic. Forward looking statements in this document speak only at the date of issue. Except as required by applicable laws or regulations, Newcrest does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in assumptions on which any such statement is based.
Reliance on Third-Party Information
This document contains information that has been obtained from third parties and has not been independently verified, including estimates relating to production for Brucejack. No representation or warranty is made as to the accuracy, completeness or reliability of such information. This document should not be relied upon as a recommendation or forecast by Newcrest.
Endnotes
[1] Subject to market and operating conditions and should not be construed as guidance.
[2] Production Guidance is based on Pretivm's Technical Report on the Brucejack Gold Mine Northwest British Columbia dated 9 March 2020 filed by Pretivm on SEDAR (www.sedar.com) in accordance with National Instrument 43-101 (the Technical Report).
[3] Based on Newcrest's estimate of production contained in its release titled "Newcrest advances its global organic growth portfolio" dated 12 October 2021 which is available to view at www.asx.com.au under the code "NCM" and on Newcrest's SEDAR profile. Newcrest confirms that all material assumptions underpinning the production targets in that release continue to apply and have not materially changed. Mining depletion has occurred since the release, and was shown up to 31 December 2021 in the Annual Mineral Resources and Ore Reserves Statement released on 17 February 2022 and available on www.asx.com.au under the code "NCM" and on Newcrest's SEDAR profile
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115024
