Workforce Reductions, Terminated Development Plans, Acquisitions, Dividends, and Expansion Projects - Research Report on Newmont, Kinross, IAMGOLD, New Gold, and Nevsun

Thu Jun 20, 2013 8:01am EDT

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Workforce Reductions, Terminated Development Plans, Acquisitions, Dividends, and Expansion Projects - Research Report on Newmont, Kinross, IAMGOLD, New Gold, and Nevsun

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NEW YORK, June 20, 2013 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom.

Today, Wall Street Reports announced new research reports highlighting Newmont Mining Corporation (NYSE: NEM), Kinross Gold Corporation (NYSE: KGC), IAMGOLD Corporation (NYSE: IAG), New Gold Inc. (NYSE: NGD), and Nevsun Resources Ltd. (NYSE: NSU). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.

Newmont Mining Corporation Research Report

On June 12, 2013, Newmont Mining Corporation (Newmont) announced its plans to reduce its workforce in Colorado by at least 33% over the next 90 days. According to Newmont, the reduction reflects the Company's work to streamline its operating model and sharpen its ability to create value for shareholders and other stakeholders. The new operating model is expected to shift greater accountability for production and profitability to the Company's operational teams, and make its corporate team focus on strategy and governance. "Ongoing price volatility and steadily rising costs create intense pressure for Newmont to continuously improve its efficiency and effectiveness," said Gary Goldberg, President and CEO of Newmont. "We face some very difficult decisions in streamlining our organization and are committed to treating people fairly throughout this process." The Full Research Report on Newmont Mining Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/3aa2_NEM]

Kinross Gold Corporation Research Report

On June 10, 2013, Kinross Gold Corporation (Kinross) announced that it will not proceed with further development of the Fruta del Norte (FDN) project in Ecuador. Kinross has already informed the Government of Ecuador about its decision, and requested the government's cooperation in ensuring an orderly transition that respects the interests of both parties. Despite pending legislative amendments to the mining and tax law regime in Ecuador, Kinross has decided that it is not in the interests of the Company and its shareholders to invest further in developing FDN, mainly because of its disagreements with the Government of Ecuador on certain key economic and legal terms. The Company reported that its decision to stop the development of FDN will result in a charge of approximately $720 million in Q2 2013. The Full Research Report on Kinross Gold Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/0fcc_KGC]

IAMGOLD Corporation Research Report

On June 4, 2013, IAMGOLD Corporation (IAMGOLD) declared a semi-annual dividend payment of $0.13 per common share. The semi-annual dividend is payable on July 12, 2013 to shareholders of record as of the close of trading on July 3, 2013. The Company reported that the payment represents a dividend yield of more than 4% based on the average closing value of IAMGOLD's common shares over the last 20 days. "At IAMGOLD, we are focused on being disciplined about our capital allocation and are well advanced on our program to reduce costs, which allows us to maintain our dividend payout rate," said Steve Letwin, President and CEO of IAMGOLD. "Today's dividend declaration reflects our liquidity and the confidence we have in future cash flows for the Company." The Full Research Report on IAMGOLD Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/4394_IAG]

New Gold Inc. Research Report

On May 31, 2013, New Gold Inc. (New Gold) and Rainy River Resources (Rainy River) jointly announced that the two Companies have entered into a definitive acquisition agreement, whereby New Gold will offer to acquire all the outstanding common shares of Rainy River through a friendly take-over bid. As per the agreement, New Gold will offer 0.5 of its common share, or $3.83 in cash, at the election of each holder of Rainy River common shares. The Company reported that the offer represents a premium of 42% over the closing price of the Rainy River shares on the Toronto Stock Exchange on May 30, 2013, and a 67% premium to Rainy River's 20-day volume weighted average trading price. "We view the combination of Rainy River's ideal location, sizeable reserve, robust production potential, and experienced team as presenting a truly compelling opportunity," said Randall Oliphant, Executive Chairman of New Gold. The Full Research Report on New Gold Inc. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/9605_NGD]

Nevsun Resources Ltd. Research Report

On June 17, 2013, Nevsun Resources Ltd. (Nevsun) announced that the copper flotation circuit construction, located at the Company's Bisha mine in Eritrea, has been completed. The Company reported that the copper flotation plant was completed on time and will be under budget. Further, Nevsun also reported that decision has been made to process the precious metal rich pyrite sands by flotation prior to copper supergene ore flotation. "This additional pyrite sand material and the additional $100 million revenue prove once again that Bisha is a tremendous deposit," said Cliff Davis, President and CEO of Nevsun. The Company expects the supergene copper flotation to commence in September 2013, upon completion of pyrite sand flotation. Further, Nevsun provided an updated guidance for 2013, with estimated gold production of 110,000 ounces, and copper production between 30 million to 50 million pounds. Also, the Company expects annualized copper production rate of 200 million pounds per annum by Q1 2014. The Full Research Report on Nevsun Resources Ltd. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.wsreports.com/r/full_research_report/933d_NSU]

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SOURCE Wall Street Reports

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