SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________________

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

February 25, 2010

Newmont Mining Corporation
(Exact name of registrant as specified in its charter)

                    Delaware                   
(State or Other Jurisdiction of Incorporation)
 
                  001-31240                  
(Commission File Number)
 
                   84-1611629                   
(I.R.S. Employer Identification No.
 
6363 South Fiddlers Green Circle, Greenwood Village, CO  80111
(Address of principal executive offices) (zip code)

                             (303) 863-7414                            
(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
o	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	
 
o	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	
 
o	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	
 
o	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))	
 
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

ITEM 2.02.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION
 
On February 25, 2010, Newmont Mining Corporation, a Delaware corporation (the “Company”), issued a news release reporting its financial results for the quarter ended and year ended December 31, 2009.  A copy of the news release is furnished as Exhibit 99.1 to this report.
 
Additionally, on February 25, 2010, the Company issued a news release reporting 2009 Equity Reserves and 2010 Exploration activities.  A copy of the news release is furnished as Exhibit 99.2 to this report.
 
ITEM 9.01  FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits
 
Exhibit Number	Description of Exhibit	
 	 	
99.1	News Release, dated February 25, 2010, reporting financial results for the quarter ended and year ended December 31, 2009	

99.2	News Release, dated February 25, 2010, reporting 2009 Equity Reserves and 2010 Exploration activities	

2

 
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 	By:	/s/ Jeffrey K. Reeser      	 	
 	Name:   Jeffrey K. Reeser	 	
 	Title: Vice President and Secretary	 	

 
Dated:  February 25, 2010

3

EXHIBIT INDEX

Exhibit Number      	Description of Exhibit	
 	 	
99.1	News Release, dated February 25, 2010, reporting financial results for the quarter ended and year ended December 31, 2009	

99.2	News Release, dated February 25, 2010, reporting 2009 Equity Reserves and 2010 Exploration activities	

4

 
	 	Newmont Mining Corporation
6363 South Fiddlers Green Circle, Suite 800
Greenwood Village, CO 80111
T   303.863.7414
F    303.837.5837
www.newmont.com	

Newmont Reports Record Operating Cash Flow of $2.9 Billion and Adjusted Net Income (1) of $1.4 Billion ($2.79 per Share) in 2009

DENVER, February 25, 2010 – Newmont Mining Corporation (NYSE: NEM) (“Newmont” or “the Company”) today announced record operating cash flow of $2.9 billion and adjusted net income of $1.4 billion ($2.79 per share) in 2009 on record revenues of $7.7 billion from equity gold sales of 5.3 million ounces at costs applicable to sales of $417 per ounce.  Record revenues of $2.5 billion were generated in the fourth quarter, with $1.0 billion in operating cash flow generated on equity gold sales of 1.5 million ounces at costs applicable to sales of $413 per ounce.

2009 Highlights:

 	q	Net cash from continuing operations of $2.9 billion, up 109% from 2008;	
 	q	Adjusted net income (1) of $1.4 billion ($2.79 per share), up 72% from 2008;	
 	q	Revenues of $7.7 billion, up 26% from 2008, on average realized gold price of $977 per ounce and average realized copper price of $2.60;	
 	q	Equity gold sales of 5.3 million ounces and equity copper sales of 226 million pounds;	
 	q	Costs applicable to sales for gold of $417 per ounce, down 4% from 2008;	
 	q	Costs applicable to sales for copper of $0.64 per pound, down 54% from 2008;	
 	q	Equity gold sales and costs applicable to sales in line with original 2009 outlook;	
 	q	Gold operating margin (2) increased 28% on a gold price increase of 12%;	
 	q	Acquisition of remaining 33.3% of Boddington;	
 	q	Raised $1.7 billion of equity and convertible debt to fund the Boddington acquisition;	
 	q	Successful offering of $2.0 billion of unsecured debt; and	
 	q	Commercial production achieved at Boddington.	

“The combination of slightly higher production, lower costs and gold price leverage generated cash flow from operations of $2.9 billion on record revenues of $7.7 billion, while our gold operating margin expanded to 57%,” said Richard O’Brien, President and Chief Executive Officer. “With the completion of construction of Boddington late last year, we now turn our attention to the development of our next generation of projects, including Akyem in Ghana, Conga in Peru, Hope Bay in Canada and our portfolio of growth projects in Nevada.”
 
(1) See reconciliation of adjusted net income to GAAP net income on page 12.
(2 ) “Gold operating margin” defined as average realized price per ounce less costs applicable to sales per ounce, excluding amortization and accretion per ounce.

Page  1 of 14	

 

 

 
Fourth Quarter Highlights:

For the fourth quarter of 2009, the Company reported equity gold sales of 1.5 million ounces at costs applicable to sales of $413 per ounce.  Equity gold sales were higher than expected in Nevada, at Yanacocha in Peru and at Ahafo in Ghana, offset by lower than expected sales from Boddington in Australia.  Costs applicable to sales were in line with expectations.

 	q	Net cash from continuing operations of $1.0 billion, up 323% from 2008;	
 	q	Adjusted net income (1) of $561 million ($1.14 per share), up 379% from 2008;	
 	q	Revenues of $2.5 billion, up 90% from a year ago, on average realized gold price of $1,102 per ounce and average realized copper price of $3.24;	
 	q	Equity gold sales of 1.5 million ounces and equity copper sales of 72 million pounds;	
 	q	Costs applicable to sales for gold of $413 per ounce, down 7% from a year ago;	
 	q	Costs applicable to sales for copper of $0.64 per pound, down 2% from a year ago;	
 	q	Gold operating margin (2) increased 145% on a gold price increase of 38%; and	
 	q	Commercial production achieved at Boddington.	

Summary of 2010 Outlook:

Equity gold production is expected to increase slightly to between 5.3 and 5.5 million ounces, primarily as a result of the continuing 12-month ramp-up to full production of Boddington, partially offset by lower production from Nevada and Yanacocha, as described below.  The Company expects 2010 gold costs applicable to sales to increase slightly to between $450 and $480 per ounce accounting for Boddington on a co-product basis, or to between $440 to $470 per ounce on a by-product basis, due to lower production from Nevada and Yanacocha.  The Company accounts for Boddington on a co-product basis due to the significant revenues from copper. The Company’s costs applicable to sales outlook assumes an average oil price of $80 per barrel and an average Australian dollar exchange rate of $0.80.  Costs applicable to sales in 2010, inclusive of hedges, are expected to change by approximately $6 per ounce for every $10 change in the oil price and by approximately $7 per ounce for every $0.10 change in the Australian dollar exchange rate.

In 2010, the Company anticipates consolidated capital expenditures to decline by approximately 15% from 2009 to between $1.4 and $1.6 billion ($1.2 to $1.4 billion on an equity basis) due to the completion of Boddington in 2009, offset partially by approximately $0.6 billion (on a consolidated basis) of investment in the next generation of major projects, including Akyem in Ghana, Conga in Peru, Hope Bay in Canada and the portfolio of growth projects in Nevada, as described further below.  The remaining capital expenditures in 2010 are expected to be associated with maintenance and sustaining expenditures.
 
Regional Operations and Outlook:

North America

Nevada   – Nevada sold 567,000 equity ounces of gold at costs applicable to sales of $495 per ounce during the fourth quarter.  Equity gold sales were above expectations due to higher grade from the underground operations and improved leach pad recoveries.  During the quarter, costs applicable to sales were lower than expected as higher production was partially offset by higher underground mining costs and production taxes.  Equity sales for the year were 2.0 million ounces at costs applicable to sales of $521 per ounce .
 
(1) See reconciliation of adjusted net income to GAAP net income on page 12.
(2) “Gold operating margin” defined as average realized price per ounce less costs applicable to sales per ounce, excluding amortization and accretion per ounce.

Page 2 of 14	

 

 

In 2010, the Company expects equity gold production from Nevada of approximately 1.6 to 1.7 million ounces due to lower production from the Carlin operations and the closure of Deep Post, partially offset by increased production at Leeville.  Production from the Carlin operations is expected to be impacted by a geotechnical event that occurred at Gold Quarry in late December 2009, limiting access to ore that was originally scheduled to be mined in 2010 and 2011.  Following a series of geotechnical, mine planning and ore blending analyses conducted by the Company in January and February 2010, the Company now expects up to approximately 150,000 equity ounces of gold production to be deferred from Gold Quarry in 2010 and 2011. The Company currently anticipates mining these deferred ounces in 2012 and 2013, while continuing to study opportunities to safely accelerate that production.  2010 costs applicable to sales in Nevada are expected to increase to between $590 and $630 per ounce, primarily due to lower production and higher contracted mining costs, diesel and input commodity price assumptions.

La Herradura   – Equity gold sales at La Herradura in Mexico during the fourth quarter were 34,000 ounces at costs applicable to sales of $351 per ounce .  Equity gold sales were higher than expected due to higher leach placement.  Costs applicable to sales were lower than expected due to higher sales and by-product credits.  Equity gold sales for the year were 113,000 ounces at costs applicable to sales of $372 per ounce . La Herradura equity gold production is expected to reach 140,000 to 150,000 ounces in 2010 with costs applicable to sales of between $400 and $430 per ounce .

For 2011 (3) , equity gold production in the North America region is expected to remain at 2010 levels, with the potential for slightly higher production in 2012, primarily due to higher production from underground and open pits from the Nevada Growth projects as well as higher production from La Herradura in Mexico and mining of the deferred ounces at Gold Quarry in Nevada.  Costs applicable to sales in 2011 and 2012 are expected to remain near 2010 levels, with the potential of decreasing with the addition of the growth projects in Nevada and La Herradura production.

South America

Yanacocha – Equity gold sales during the fourth quarter at Yanacocha in Peru were 262,000 ounces at costs applicable to sales of $303 per ounce .  Equity gold sales were slightly below expectations due to lower leach production, offset in part by higher mill production due to higher grades and recoveries.  Costs applicable to sales were slightly higher than expected due to higher royalties and workers’ participation from higher realized gold prices, partially offset by higher gold sales and by-product credits.  Equity gold sales for the year were 1.06 million ounces at costs applicable to sales of $311 per ounce .

Equity gold production at Yanacocha is anticipated to decrease from 2009 levels to between 750,000 and 810,000 ounces in 2010 , primarily due to lower ore tons mined and lower grades.  Costs applicable to sales are anticipated to increase to between $360 and $400 per ounce due to lower production and higher contracted services and supplies.

Equity gold production and costs applicable to sales in the South America region in 2011 and 2012 (3) are expected to remain near 2010 levels.  As the Company continues to advance the Conga project toward a final development decision in 2010, permitting dependant, the anticipated first production at Conga in the late 2014 to 2015 timeframe could add, on a 100% basis,  annual gold production of approximately 650,000 to 750,000 ounces, as well as annual copper production of up to 160 to 210 million pounds during the first five years of steady-state operations at average costs applicable to sales of approximately $300 to $400 per ounce and $0.95 to $1.25 per pound, respectively.

Asia Pacific

Boddington – At Boddington, ramp-up to full production in the plant is proceeding according to plan.  Equity gold sales during the fourth quarter were 103,000 ounces at costs applicable to sales of $468 per ounce ($352 per ounce on a by-product basis). Equity gold production is anticipated to reach 800,000 to 875,000 ounces in 2010 with costs applicable to sales of $375 to $395 per ounce on a co-product basis ($295 to $315 per ounce on a by-product basis).  After ramping up to full production, we continue to expect Boddington’s first five years of annual production to average approximately 1.0 million ounces. Additionally, in 2010 equity copper production at Boddington is anticipated to reach 65 to 75 million pounds at costs applicable to sales of between $1.30 and $1.45 per pound .
 
(3) All references to expected production at each of our operations and regions are based on current mine plans, assumptions and current geotechnical, metallurgical, hydrological and other physical conditions.

Page  3 of 14	

 

 

Other Australia/New Zealand   - Equity gold sales during the fourth quarter were 292,000 ounces at costs applicable to sales of $528 per ounce .  Equity gold sales met expectations as higher production at Jundee was offset by lower production at Tanami.  Costs applicable to sales were in line with expectations.  Equity gold sales for the year were 1.2 million ounces at costs applicable to sales of $512 per ounce .  Equity gold production at the Company’s other Australian/New Zealand operations in 2010 is expected to be between 1.06 and 1.16 million ounces at costs applicable to sales of $530 to $570 per ounce.

Batu Hijau – Equity gold and copper sales during the fourth quarter at Batu Hijau in Indonesia were 68,000 ounces and 63 million pounds at costs applicable to sales of $175 per ounce and $0.58 per pound , respectively. Equity gold and copper sales met expectations as did costs applicable to sales.  Equity gold and copper sales for the year were 239,000 ounces and 217 million pounds at costs applicable to sales of $214 per ounce and $0.62 per pound , respectively.

2010 equity gold production at Batu Hijau, assuming the current economic interest of 52.44%, is expected to increase to between 390,000 and 425,000 ounces , primarily due to a higher economic interest and higher ore grades as mining occurs in the bottom of Phase 5.  Costs applicable to sales are expected to increase to between $265 and $285 per ounce due to higher waste stripping.  Equity copper production is expected to increase to be between 285 and 310 million pounds at costs applicable to sales of between $0.75 and $0.85 per pound .

Equity gold production in the Asia Pacific region in 2011 and 2012 (3) is expected to remain near 2010 levels, primarily due to increased production at Boddington and extended mine-life at Jundee and Waihi, offsetting declining production at Tanami and Batu Hijau.  Over the same period, costs applicable to sales are anticipated to increase as lower cost production from Boddington will be offset by higher costs at Batu Hijau in Indonesia as the Company continues stripping Phase 6.

Africa

Ahafo – Equity gold sales during the fourth quarter at Ahafo in Ghana were 134,000 ounces at costs applicable to sales of $506 per ounce .  Equity gold sales were higher than expected due to a drawdown of finished goods inventory.  Costs applicable to sales were higher than expected due to higher labor, contracted services and maintenance costs.  Equity sales for the year were 546,000 ounces at costs applicable to sales of $444 per ounce .

2010 equity gold production at Ahafo is expected to decline to between 460,000 and 500,000 ounces due to mining additional waste material and lower ore grade.  Costs applicable to sales are anticipated to increase to $515 to $555 per ounce, primarily as a result of lower production, higher diesel price assumptions and higher labor and royalty costs.

Equity gold production and costs applicable to sales in the Africa region in 2011 and 2012 (3) are expected to remain near 2010 levels. With the granting of the required mining license earlier this year, the Company is advancing the development of Akyem. First production is currently anticipated in late 2013 to 2014 with the addition of up to 480,000 to 550,000 equity gold ounces annually during the first five years of operation at costs applicable to sales of between $350 and $450 per ounce. Additionally, the potential future development of the Subika underground project should sustain production at Ahafo at 2010 levels. Collectively, the addition of potential production from the Akyem and Subika underground projects could more than double the Company’s equity gold sales in Ghana over the next five years.
 
(3) All references to expected production at each of our operations and regions are based on current mine plans, assumptions and current geotechnical, metallurgical, hydrological and other physical conditions.

Page  4 of 14	

 

 

Consolidated Capital Expenditures Update:

Consolidated capital expenditures were $455 million during the fourth quarter, with approximately 33% related to completion of the Boddington project in Australia.  For the year, the Company’s consolidated capital expenditures were approximately $1.8 billion, approximately 62% of which was related to Boddington.

For 2010, the Company anticipates lower consolidated capital expenditures of between $1.4 and $1.6 billion ($1.2 to $1.4 billion on an equity basis) with approximately 30% to be invested in each of the North America and Asia Pacific regions, and the remaining 40% at other locations.  Approximately 40% of the 2010 capital is expected to be related to major project initiatives, including further development of the Akyem project in Ghana, the Conga project in Peru, Hope Bay in Canada and other projects, while the remaining 60% is expected to be for maintenance and sustaining expenditures.

2010 Operating and Financial Outlook (3) :

 	 	2010 Outlook	 	2010 Outlook	 	2010 Outlook	
Region	 	Equity Production	 	CAS	 	Consolidated  Capital	
  	 	(Kozs, Mlbs)	 	($/oz, $/lb)	 	Expenditures  ($M)	
Nevada	 	1,600 – 1,725	 	$590 – $630	 	$355 – $375	
La Herradura	 	140 – 150	 	$400 – $430	 	$55 – $65	
Hope Bay	 	  	 	  	 	$65 – $75	
North America	 	1,740 – 1,885	 	$575 – $615	 	$475 – $515	
Yanacocha	 	750 – 810	 	$360 – $400	 	$165 – $175	
Conga	 	  	 	  	 	$155 – $165	
South America	 	750 – 810	 	$360 – $400	 	$320 – $340	
Boddington  1	 	800 – 875	 	$375 – $395	 	$140 – $155	
Other Australia/NZ	 	1,060 – 1,160	 	$530 – $570	 	$210 – $225	
Batu Hijau  2	 	390 – 425	 	$265 – $285	 	$110 – $130	
Asia Pacific	 	2,250 – 2,460	 	$400 – $440	 	$460 – $510	
Ahafo	 	460 – 500	 	$515 – $555	 	$120 – $130	
Akyem	 	  	 	  	 	$95 – $105	
Africa	 	460 – 500	 	$515 – $555	 	$215 – $235	
Corporate/Other	 	  	 	  	 	$48 – $52	
Total Gold	 	5,300 – 5,500	 	$450 – $480	 	$1,400 – $1,600	
Boddington – Copper	 	65 – 75	 	$1.30 – $1.45	 	  	
Batu Hijau – Copper  2	 	285 – 310	 	$0.75 – $0.85	 	  	
Total Copper	 	350 – 380	 	$0.85 – $0.95	 	 	
1 Boddington shown on a co-product basis.
2 Assumes Batu Hijau economic interest of 52.44%.

The 2010 outlook for costs applicable to sales with Boddington on a by-product basis would be $295 to $315 per ounce, $375 to $415 per ounce for the Asia Pacific region and $440 to $470 per ounce for the Company, with no Boddington copper revenue or CAS.
 
(3) All references to expected production at each of our operations and regions are based on current mine plans, assumptions and current geotechnical, metallurgical, hydrological and other physical conditions.

Page  5 of 14	

 

 

The following table sets out the Company’s financial outlook for 2010 and corresponding outlook assumptions.
 
Description	 	2010 Outlook
($M)	
General & Administrative	 	$160 – $170	
Interest Expense	 	$270 – $290	
DD&A	 	$940 – $970	
Exploration Expense	 	$190 – $220	
Advanced Projects & R&D	 	$185 – $210	
Tax Rate	 	28% – 32%	
Assumptions	 	 	
Gold Price ($/ounce)	 	$900	
Copper Price ($/pound)	 	$2.50	
Oil Price ($/barrel)	 	$80	
Australian Dollar Exchange Rate	 	$0.80	

Page  6 of 14	

 

 

Statements of Consolidated Income

 	 	Three Months Ended December 31,	 	 	Twelve Months Ended December 31,	 	
 	 	2009	 	 	2008	 	 	2009	 	 	2008	 	
 	 	(in millions, except per share)	 	
 	 	(unaudited)	 	 	(audited)	 	
Revenues	 	 	 	 	 	 	 	 	 	 	 	 	
Sales - gold, net	 	$	1,985	 	 	$	1,278	 	 	$	6,386	 	 	$	5,372	 	
Sales - copper, net	 	 	533	 	 	 	47	 	 	 	1,319	 	 	 	752	 	
 	 	 	2,518	 	 	 	1,325	 	 	 	7,705	 	 	 	6,124	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Costs and expenses	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Costs applicable to sales - gold (1)	 	 	743	 	 	 	712	 	 	 	2,726	 	 	 	2,681	 	
Costs applicable to sales - copper (1)	 	 	106	 	 	 	57	 	 	 	323	 	 	 	399	 	
Amortization	 	 	240	 	 	 	190	 	 	 	806	 	 	 	738	 	
Accretion	 	 	9	 	 	 	8	 	 	 	34	 	 	 	31	 	
Exploration	 	 	40	 	 	 	59	 	 	 	187	 	 	 	213	 	
Advanced projects, research and development	 	 	35	 	 	 	53	 	 	 	135	 	 	 	166	 	
General and administrative	 	 	41	 	 	 	41	 	 	 	159	 	 	 	144	 	
Write-down of property, plant and mine development	 	 	4	 	 	 	135	 	 	 	7	 	 	 	137	 	
Other expense, net	 	 	127	 	 	 	104	 	 	 	383	 	 	 	351	 	
 	 	 	1,345	 	 	 	1,359	 	 	 	4,760	 	 	 	4,860	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Other income (expense)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Other income, net	 	 	45	 	 	 	23	 	 	 	88	 	 	 	123	 	
Interest expense, net	 	 	(55	)	 	 	(37	)	 	 	(120	)	 	 	(135	)	
 	 	 	(10	)	 	 	(14	)	 	 	(32	)	 	 	(12	)	
Income from continuing operations before income tax and other items	 	 	1,163	 	 	 	(48	)	 	 	2,913	 	 	 	1,252	 	
Income tax expense	 	 	(294	)	 	 	93	 	 	 	(788	)	 	 	(100	)	
Equity income (loss) of affiliates	 	 	(2	)	 	 	1	 	 	 	(16	)	 	 	(5	)	
Income from continuing operations	 	 	867	 	 	 	46	 	 	 	2,109	 	 	 	1,147	 	
Income (loss) from discontinued operations	 	 	(2	)	 	 	(4	)	 	 	(16	)	 	 	13	 	
Net income	 	 	865	 	 	 	42	 	 	 	2,093	 	 	 	1,160	 	
Net income attributable to noncontrolling interests	 	 	(307	)	 	 	(38	)	 	 	(796	)	 	 	(329	)	
Net income attributable to Newmont stockholders	 	$	558	 	 	$	4	 	 	$	1,297	 	 	$	831	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net income attributable to Newmont stockholders:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Continuing operations	 	$	560	 	 	$	8	 	 	$	1,308	 	 	$	816	 	
Discontinued operations	 	 	(2	)	 	 	(4	)	 	 	(11	)	 	 	15	 	
 	 	$	558	 	 	$	4	 	 	$	1,297	 	 	$	831	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Net income per common share	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Basic:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Continuing operations	 	$	1.14	 	 	$	0.02	 	 	$	2.68	 	 	$	1.80	 	
Discontinued operations	 	 	-	 	 	 	(0.01	)	 	 	(0.02	)	 	 	0.03	 	
 	 	$	1.14	 	 	$	0.01	 	 	$	2.66	 	 	$	1.83	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Diluted:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Continuing operations	 	$	1.13	 	 	$	0.02	 	 	$	2.68	 	 	$	1.80	 	
Discontinued operations	 	 	-	 	 	 	(0.01	)	 	 	(0.02	)	 	 	0.03	 	
 	 	$	1.13	 	 	$	0.01	 	 	$	2.66	 	 	$	1.83	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Basic weighted-average common shares outstanding	 	 	491	 	 	 	454	 	 	 	487	 	 	 	454	 	
Diluted weighted-average common shares outstanding	 	 	493	 	 	 	455	 	 	 	487	 	 	 	455	 	
Cash dividends declared per common share	 	$	0.10	 	 	$	0.10	 	 	$	0.40	 	 	$	0.40	 	

(1)  Exclusive of Amortization and Accretion.
 
The Company’s financial statements can be found on its website at www.newmont.com .

Page  7 of 14	

 

 

 
Consolidated Balance Sheets
 
 	 	At December 31,	 	
 	 	2009	 	 	2008	 	
 	 	(audited, in millions)	 	
ASSETS	 	 	 	 	 	 	
Cash and cash equivalents	 	$	3,215	 	 	$	435	 	
Trade receivables	 	 	438	 	 	 	104	 	
Accounts receivable	 	 	102	 	 	 	214	 	
Investments	 	 	56	 	 	 	12	 	
Inventories	 	 	493	 	 	 	507	 	
Stockpiles and ore on leach pads	 	 	403	 	 	 	290	 	
Deferred income tax assets	 	 	215	 	 	 	284	 	
Other current assets	 	 	900	 	 	 	455	 	
Current assets	 	 	5,822	 	 	 	2,301	 	
Property, plant and mine development, net	 	 	12,370	 	 	 	10,128	 	
Investments	 	 	1,186	 	 	 	655	 	
Stockpiles and ore on leach pads	 	 	1,502	 	 	 	1,136	 	
Deferred income tax assets	 	 	937	 	 	 	1,039	 	
Other long-term assets	 	 	482	 	 	 	395	 	
Assets of operations held for sale	 	 	-	 	 	 	73	 	
Total assets	 	$	22,299	 	 	$	15,727	 	
 	 	 	 	 	 	 	 	 	
LIABILITIES	 	 	 	 	 	 	 	 	
Current portion of debt	 	$	157	 	 	$	165	 	
Accounts payable	 	 	396	 	 	 	411	 	
Employee-related benefits	 	 	250	 	 	 	170	 	
Income and mining taxes	 	 	200	 	 	 	61	 	
Other current liabilities	 	 	1,317	 	 	 	770	 	
Current liabilities	 	 	2,320	 	 	 	1,577	 	
Debt	 	 	4,652	 	 	 	3,072	 	
Reclamation and remediation liabilities	 	 	805	 	 	 	699	 	
Deferred income tax liabilities	 	 	1,341	 	 	 	1,051	 	
Employee-related benefits	 	 	381	 	 	 	379	 	
Other long-term liabilities	 	 	174	 	 	 	252	 	
Liabilities of operations held for sale	 	 	13	 	 	 	36	 	
Total liabilities	 	 	9,686	 	 	 	7,066	 	
 	 	 	 	 	 	 	 	 	
EQUITY	 	 	 	 	 	 	 	 	
Common stock	 	 	770	 	 	 	709	 	
Additional paid-in capital	 	 	8,158	 	 	 	6,831	 	
Accumulated other comprehensive income (loss)	 	 	626	 	 	 	(253	)	
Retained earnings	 	 	1,149	 	 	 	4	 	
Newmont stockholders' equity	 	 	10,703	 	 	 	7,291	 	
Noncontrolling interests	 	 	1,910	 	 	 	1,370	 	
Total equity	 	 	12,613	 	 	 	8,661	 	
Total liabilities and equity	 	$	22,299	 	 	$	15,727	 	
 
The Company’s financial statements can be found on its website at www.newmont.com .

Page 8 of 14  	

 

 

 
Statements of Consolidated Cash Flows
 
 	 	Three Months Ended December 31,	 	 	Twelve Months Ended December  31,	 	
 	 	2009	 	 	2008	 	 	2009	 	 	2008	 	
 	 	(unaudited, in millions)	 	 	(audited, in millions)	 	
Operating activities:	 	 	 	 	 	 	 	 	 	 	 	 	
Net income	 	$	865	 	 	$	42	 	 	$	2,093	 	 	$	1,160	 	
Adjustments:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Amortization	 	 	240	 	 	 	190	 	 	 	806	 	 	 	738	 	
Stock based compensation and other benefits	 	 	13	 	 	 	12	 	 	 	57	 	 	 	50	 	
Accretion of accumulated reclamation obligations	 	 	12	 	 	 	11	 	 	 	46	 	 	 	41	 	
Revaluation of contingent consideration	 	 	23	 	 	 	-	 	 	 	23	 	 	 	-	 	
Loss (income) from discontinued operations	 	 	2	 	 	 	4	 	 	 	16	 	 	 	(13	)	
Reclamation estimate revisions	 	 	13	 	 	 	27	 	 	 	13	 	 	 	101	 	
Write-down of property, plant and mine development	 	 	4	 	 	 	134	 	 	 	7	 	 	 	137	 	
Impairment of marketable securities	 	 	-	 	 	 	24	 	 	 	6	 	 	 	114	 	
Deferred income taxes	 	 	(6	)	 	 	(93	)	 	 	1	 	 	 	(315	)	
Gain on asset sales, net	 	 	(21	)	 	 	(2	)	 	 	(24	)	 	 	(72	)	
Other operating adjustments and write-downs	 	 	23	 	 	 	13	 	 	 	97	 	 	 	83	 	
Net change in operating assets and liabilities	 	 	(200	)	 	 	(133	)	 	 	(227	)	 	 	(627	)	
Net cash provided from continuing operations 	 	 	968	 	 	 	229	 	 	 	2,914	 	 	 	1,397	 	
Net cash provided from (used in) discontinued operations 	 	 	30	 	 	 	1	 	 	 	33	 	 	 	(104	)	
Net cash provided from operations 	 	 	998	 	 	 	230	 	 	 	2,947	 	 	 	1,293	 	
Investing activities:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Additions to property, plant and mine development 	 	 	(455	)	 	 	(520	)	 	 	(1,769	)	 	 	(1,870	)	
Acquisitions, net	 	 	(241	)	 	 	-	 	 	 	(1,007	)	 	 	(325	)	
Sales of marketable securities	 	 	7	 	 	 	-	 	 	 	17	 	 	 	50	 	
Purchases of marketable securities	 	 	(5	)	 	 	1	 	 	 	(5	)	 	 	(17	)	
Other 	 	 	1	 	 	 	(10	)	 	 	(17	)	 	 	16	 	
Net cash used in investing activities of continuing operations	 	 	(693	)	 	 	(529	)	 	 	(2,781	)	 	 	(2,146	)	
Net cash used in investing activities of discontinued operations	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(11	)	
Net cash used in investing activities 	 	 	(693	)	 	 	(529	)	 	 	(2,781	)	 	 	(2,157	)	
Financing activities:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Proceeds from debt, net	 	 	(3	)	 	 	2,277	 	 	 	4,299	 	 	 	5,078	 	
Repayment of debt 	 	 	(127	)	 	 	(2,234	)	 	 	(2,731	)	 	 	(4,483	)	
Proceeds from stock issuance, net 	 	 	30	 	 	 	2	 	 	 	1,278	 	 	 	29	 	
Sale of subsidiary shares to noncontrolling interests	 	 	638	 	 	 	-	 	 	 	638	 	 	 	-	 	
Acquisition of subsidiary shares from noncontrolling interests	 	 	(287	)	 	 	-	 	 	 	(287	)	 	 	-	 	
Dividends paid to noncontrolling interests	 	 	(279	)	 	 	(142	)	 	 	(394	)	 	 	(389	)	
Dividends paid to common stockholders 	 	 	(49	)	 	 	(46	)	 	 	(196	)	 	 	(182	)	
Change in restricted cash and other 	 	 	(40	)	 	 	55	 	 	 	(35	)	 	 	74	 	
Net cash provided from (used in) financing activities of continuing operations	 	 	(117	)	 	 	(88	)	 	 	2,572	 	 	 	127	 	
Net cash used in financing activities of discontinued operations	 	 	-	 	 	 	(1	)	 	 	(2	)	 	 	(4	)	
Net cash provided from (used in) financing activities	 	 	(117	)	 	 	(89	)	 	 	2,570	 	 	 	123	 	
Effect of exchange rate changes on cash 	 	 	5	 	 	 	(30	)	 	 	44	 	 	 	(54	)	
Net change in cash and cash equivalents 	 	 	193	 	 	 	(418	)	 	 	2,780	 	 	 	(795	)	
Cash and cash equivalents at beginning of period 	 	 	3,022	 	 	 	853	 	 	 	435	 	 	 	1,230	 	
Cash and cash equivalents at end of period 	 	$	3,215	 	 	$	 435	 	 	$	3,215	 	 	$	 435	 	
 
The Company’s financial statements can be found on its website at www.newmont.com .

Page 9 of 14  	

 

 

Sales Statistics
 
 	 	Three Months Ended December 31,	 	 	Twelve Months Ended December 31,	 	
 	 	2009	 	 	2008	 	 	2009	 	 	2008	 	
Gold	 	 	 	 	 	 	 	 	 	 	 	 	
Consolidated ounces sold (thousands):	 	 	 	 	 	 	 	 	 	 	 	 	
North America	 	 	 	 	 	 	 	 	 	 	 	 	
Nevada (1)	 	 	567	 	 	 	601	 	 	 	2,005	 	 	 	2,225	 	
La Herradura	 	 	34	 	 	 	24	 	 	 	113	 	 	 	95	 	
 	 	 	601	 	 	 	625	 	 	 	2,118	 	 	 	2,320	 	
South America	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Yanacocha	 	 	510	 	 	 	433	 	 	 	2,068	 	 	 	1,843	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Asia Pacific	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Boddington (2)	 	 	103	 	 	 	-	 	 	 	103	 	 	 	-	 	
Jundee	 	 	108	 	 	 	72	 	 	 	413	 	 	 	377	 	
Tanami	 	 	53	 	 	 	89	 	 	 	291	 	 	 	365	 	
Kalgoorlie	 	 	97	 	 	 	92	 	 	 	336	 	 	 	304	 	
Waihi	 	 	34	 	 	 	35	 	 	 	118	 	 	 	141	 	
Batu Hijau	 	 	169	 	 	 	114	 	 	 	550	 	 	 	299	 	
 	 	 	564	 	 	 	402	 	 	 	1,811	 	 	 	1,486	 	
Africa	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ahafo (3)	 	 	134	 	 	 	141	 	 	 	546	 	 	 	521	 	
 	 	 	1,809	 	 	 	1,601	 	 	 	6,543	 	 	 	6,170	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Copper	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Consolidated pounds sold (millions):	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Asia Pacific	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Boddington	 	 	9	 	 	 	-	 	 	 	9	 	 	 	-	 	
Batu Hijau	 	 	156	 	 	 	89	 	 	 	498	 	 	 	290	 	
 	 	 	165	 	 	 	89	 	 	 	507	 	 	 	290	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Gold	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Equity ounces sold (thousands):	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
North America	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Nevada (1)	 	 	567	 	 	 	601	 	 	 	2,005	 	 	 	2,225	 	
La Herradura	 	 	34	 	 	 	24	 	 	 	113	 	 	 	95	 	
 	 	 	601	 	 	 	625	 	 	 	2,118	 	 	 	2,320	 	
South America	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Yanacocha	 	 	262	 	 	 	222	 	 	 	1,062	 	 	 	946	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Asia Pacific	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Boddington (2)	 	 	103	 	 	 	-	 	 	 	103	 	 	 	-	 	
Jundee	 	 	108	 	 	 	72	 	 	 	413	 	 	 	377	 	
Tanami	 	 	53	 	 	 	89	 	 	 	291	 	 	 	365	 	
Kalgoorlie	 	 	97	 	 	 	92	 	 	 	336	 	 	 	304	 	
Waihi	 	 	34	 	 	 	35	 	 	 	118	 	 	 	141	 	
Batu Hijau	 	 	68	 	 	 	52	 	 	 	239	 	 	 	135	 	
 	 	 	463	 	 	 	340	 	 	 	1,500	 	 	 	1,322	 	
Africa	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ahafo (3)	 	 	134	 	 	 	141	 	 	 	546	 	 	 	521	 	
 	 	 	1,460	 	 	 	1,328	 	 	 	5,226	 	 	 	5,109	 	
Discontinued Operations	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Kori Kollo	 	 	-	 	 	 	18	 	 	 	33	 	 	 	75	 	
 	 	 	1,460	 	 	 	1,346	 	 	 	5,259	 	 	 	5,184	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Copper	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Equity pounds sold (millions):	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Asia Pacific	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Boddington	 	 	9	 	 	 	-	 	 	 	9	 	 	 	-	 	
Batu Hijau	 	 	63	 	 	 	40	 	 	 	217	 	 	 	130	 	
 	 	 	72	 	 	 	40	 	 	 	226	 	 	 	130	 	
 
(1)	Includes incremental start-up ounces of 1 for the twelve months ended December 31, 2009 and December 31, 2008.	
(2)	Includes incremental start-up ounces of 8 for the three months and twelve months ended December 31, 2009.	
(3)	Includes incremental start-up ounces of 18 for the twelve months ended December 31, 2008 .	
 
This information and other detailed regional production statistics can be found in the Regional Operating Statistics section of the Company’s website at www.newmont.com .

Page 10 of 14  	

 

 

 
CAS and Capital Expenditures Statistics
 
 	 	Three Months Ended December 31,	 	 	Twelve Months Ended December 31,	 	
 	 	2009	 	 	2008	 	 	2009	 	 	2008	 	
Gold	 	 	 	 	 	 	 	 	 	 	 	 	
Costs Applicable to Sales ($/ounce) (1)	 	 	 	 	 	 	 	 	 	 	 	 	
North America	 	 	 	 	 	 	 	 	 	 	 	 	
Nevada	 	$	495	 	 	$	497	 	 	$	521	 	 	$	460	 	
La Herradura	 	 	351	 	 	 	414	 	 	 	372	 	 	 	397	 	
 	 	 	487	 	 	 	494	 	 	 	513	 	 	 	457	 	
South America	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Yanacocha	 	 	303	 	 	 	344	 	 	 	311	 	 	 	346	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Asia Pacific	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Boddington	 	 	468	 	 	 	-	 	 	 	468	 	 	 	-	 	
Jundee	 	 	306	 	 	 	323	 	 	 	331	 	 	 	395	 	
Tanami	 	 	816	 	 	 	655	 	 	 	650	 	 	 	604	 	
Kalgoorlie	 	 	609	 	 	 	654	 	 	 	624	 	 	 	760	 	
Waihi	 	 	540	 	 	 	275	 	 	 	481	 	 	 	390	 	
Batu Hijau	 	 	175	 	 	 	418	 	 	 	214	 	 	 	414	 	
 	 	 	410	 	 	 	496	 	 	 	418	 	 	 	524	 	
Africa	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ahafo	 	 	506	 	 	 	385	 	 	 	444	 	 	 	408	 	
Average	 	$	413	 	 	$	444	 	 	$	417	 	 	$	436	 	
Copper	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Costs Applicable to Sales ($/pound) (1)	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Asia Pacific	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Boddington	 	$	1.77	 	 	$	-	 	 	$	1.77	 	 	$	-	 	
Batu Hijau	 	 	0.58	 	 	 	0.65	 	 	 	0.62	 	 	 	1.38	 	
Average	 	$	0.64	 	 	$	0.65	 	 	$	0.64	 	 	$	1.38	 	
 
 	 	Three Months Ended December 31,	 	 	Twelve Months Ended December 31,	 	
 	 	2009	 	 	2008	 	 	2009	 	 	2008	 	
Consolidated Capital Expenditures ($ million)	 	 	 	 	 	 	 	 	 	 	 	 	
North America	 	 	 	 	 	 	 	 	 	 	 	 	
Nevada	 	$	51	 	 	$	72	 	 	$	205	 	 	$	299	 	
Hope Bay	 	 	1	 	 	 	19	 	 	 	5	 	 	 	82	 	
La Herradura	 	 	20	 	 	 	10	 	 	 	54	 	 	 	27	 	
 	 	 	72	 	 	 	101	 	 	 	264	 	 	 	408	 	
South America	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Yanacocha	 	 	52	 	 	 	110	 	 	 	146	 	 	 	236	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Asia Pacific	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Boddington	 	 	132	 	 	 	211	 	 	 	1,093	 	 	 	815	 	
Jundee	 	 	8	 	 	 	7	 	 	 	29	 	 	 	36	 	
Tanami	 	 	32	 	 	 	18	 	 	 	74	 	 	 	52	 	
Kalgoorlie	 	 	5	 	 	 	4	 	 	 	11	 	 	 	14	 	
Waihi	 	 	2	 	 	 	4	 	 	 	8	 	 	 	28	 	
Batu Hijau	 	 	14	 	 	 	18	 	 	 	44	 	 	 	83	 	
Other Asia Pacific	 	 	1	 	 	 	1	 	 	 	3	 	 	 	2	 	
 	 	 	194	 	 	 	263	 	 	 	1,262	 	 	 	1,030	 	
Africa	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ahafo	 	 	33	 	 	 	33	 	 	 	75	 	 	 	109	 	
Akyem	 	 	6	 	 	 	1	 	 	 	10	 	 	 	2	 	
 	 	 	39	 	 	 	34	 	 	 	85	 	 	 	111	 	
Corporate and Other	 	 	4	 	 	 	14	 	 	 	16	 	 	 	20	 	
Total - Accrual Basis	 	 	361	 	 	 	522	 	 	 	1,773	 	 	 	1,805	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Change in Capital Accrual	 	 	94	 	 	 	(2	)	 	 	(4	)	 	 	65	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Total - Cash Basis	 	$	455	 	 	$	520	 	 	$	1,769	 	 	$	1,870	 	
 
(1)	Excludes Amortization and Accretion.	
 
This information and other detailed regional production statistics can be found in the Regional Operating Statistics section of the Company’s website at www.newmont.com .

Page 11 of 14  	

 

 

 
Supplemental Information:
 
Non-GAAP Financial Measures
 
Non-GAAP financial measures are intended to provide additional information only and do not have any standard meaning prescribed by generally accepted accounting principles (“GAAP”). These measures should not be considered in isolation or as a substitute for measures of performance prepared in accordance with GAAP.
 
Reconciliation of Adjusted Net Income to GAAP Net Income
 
Management of the Company uses the non-GAAP financial measure Adjusted net income to evaluate the Company’s operating performance, and for planning and forecasting future business operations.  The Company believes the use of Adjusted net income allows investors and analysts to compare the results of the continuing operations of the Company and its direct and indirect subsidiaries relating to the production and sale of minerals to similar operating results of other mining companies, by excluding exceptional or unusual items, income or loss from discontinued operations and the permanent impairment of assets, including marketable securities and goodwill.  Management’s determination of the components of Adjusted net income are evaluated periodically and based, in part, on a review of non-GAAP financial measures used by mining industry analysts.
 
The table below sets forth a reconciliation of adjusted net income to GAAP Net income, the directly comparable GAAP financial measure.
 
($ million except per share, after-tax)	 	 	Q4 2009	 	 	 	Q4 2008	 	 	2009	 	 	2008	 	
GAAP Net income (1)	 	$	558	 	 	$	4	 	 	$	1,297	 	 	$	831	 	
Boddington acquisition costs	 	 	-	 	 	 	-	 	 	 	44	 	 	 	-	 	
Boddington contingent consideration	 	 	15	 	 	 	-	 	 	 	15	 	 	 	-	 	
Impairment of assets	 	 	-	 	 	 	111	 	 	 	8	 	 	 	182	 	
Net gain on asset sales	 	 	(14	)	 	 	(2	)	 	 	(16	)	 	 	(47	)	
Income tax estimate revisions	 	 	-	 	 	 	-	 	 	 	-	 	 	 	(159	)	
(Income) loss from discontinued operations (1)	 	 	2	 	 	 	4	 	 	 	11	 	 	 	(15	)	
Adjusted net income	 	$	561	 	 	$	117	 	 	$	1,359	 	 	$	792	 	
Adjusted net income per share	 	$	1.14	 	 	$	0.26	 	 	$	2.79	 	 	$	1.74	 	
 
(1) Attributable to Newmont stockholders.

Page 12 of 14  	

 

 

Reconciliation of Boddington Co-Product Costs Applicable to Sales to By-Product Costs Applicable to Sales
 
Revenue and Costs applicable to sales for Boddington are presented in the Consolidated Financial Statements for both gold and copper due to the significant portion of copper production (approximately 15-20% of total revenue based on the latest life-of-mine plan and metal price assumptions). The co-product method allocates costs applicable to sales to each metal based on specifically identifiable costs where applicable and on a relative proportion of revenue values for other costs. Management also assesses the performance of the Boddington mine on a by-product basis due to the majority of revenues being derived from gold and to determine contingent consideration payments that may be paid to AngloGold to acquire the remaining 33.33% interest in Boddington. The by-product method deducts copper revenue from costs applicable to sales as shown in the following table.
 
Boddington	 	By-Product	 	 	 	 	 	 	 	 	 	 	
 	 	method	 	 	Co-Product method	 	
Q4 2009	 	Gold	 	 	Gold	 	 	Copper	 	 	Total	 	
($million except per ounce/pound)	 	 	 	 	 	 	 	 	 	 	 	 	
Revenue, net	 	$	101	 	 	$	101	 	 	$	27	 	 	$	128	 	
Production costs:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Direct mining and production costs	 	 	58	 	 	 	46	 	 	 	12	 	 	 	58	 	
By-product credits	 	 	(28	)	 	 	(1	)	 	 	-	 	 	 	(1	)	
Royalties and production taxes	 	 	5	 	 	 	4	 	 	 	1	 	 	 	5	 	
Other	 	 	(2	)	 	 	(5	)	 	 	3	 	 	 	(2	)	
Costs applicable to sales	 	 	33	 	 	 	44	 	 	 	16	 	 	 	60	 	
Amortization and accretion	 	 	20	 	 	 	16	 	 	 	4	 	 	 	20	 	
Total production costs	 	 	53	 	 	 	60	 	 	 	20	 	 	 	80	 	
Gross margin	 	 	48	 	 	 	41	 	 	 	7	 	 	 	48	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Gold ounces sold (000)(1)	 	 	95	 	 	 	95	 	 	 	 	 	 	 	 	 	
Costs applicable to sales per ounce	 	$	352	 	 	$	468	 	 	 	 	 	 	 	 	 	
Copper pounds sold (millions)	 	 	N/A	 	 	 	 	 	 	 	9	 	 	 	 	 	
Costs applicable to sales per pound	 	 	N/A	 	 	 	 	 	 	$	1.77	 	 	 	 	 	
 
(1) Excludes incremental start-up sales of 8 ounces.
 
To view more detailed financial disclosure, including regional mine statistics, Results of Consolidated Operations, Liquidity and Capital Resources, Management’s Discussion & Analysis, relevant Risk Factors, and a complete outline of the 2009 Operating and Financial guidance by region, please see the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 25, 2010, available at www.newmont.com .
 
The Company’s fourth quarter and year-end earnings conference call and web cast presentation will be held on Thursday, February 25, 2010 beginning at 10:00 a.m. Eastern Time (8:00 a.m. Mountain Time).  To participate:
 
Dial-In Number	800.779.3178	
Intl Dial-In Number	415.228.4957	
Leader	John Seaberg	
Passcode	Newmont	
Replay Number	866.451.8896	
Intl Replay Number	203.369.1202	
Replay Passcode	2010	

Page 13 of 14  	

 

 

The conference call also will be simultaneously carried on our web site at www.newmont.com under Investor Relations/Presentations and will be archived there for a limited time.
 
Investor Contacts	 	 	
John Seaberg	303.837.5743	john.seaberg@newmont.com	
 	 	 	
Media Contacts	 	 	
Omar Jabara	303.837.5114	omar.jabara@newmont.com	
 
Cautionary Statement:
 
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended which are intended to be covered by the safe harbor created by such sections and other applicable laws.  Such forward-looking statements include, without limitation: (i) estimates of future mineral production and sales; (ii) estimates of future costs applicable to sales, other expenses and taxes, for specific operations and on a consolidated basis; (iii) estimates of future capital expenditures, construction, production or closure activities; (iv) statements regarding future exploration expenditures, results and reserves; (v) statements regarding fluctuations in capital and currency markets; (vi) statements regarding potential cost savings, productivity, operating performance, and cost structure; (vii) expectations regarding the ramp-up, mine life, production and costs applicable to sales and exploration potential of Boddington and the Company’s other projects; and (viii) expectations regarding the impacts of operating, technical or geotechnical issues in connection with the Company’s projects or operations.  Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect.  Such assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of the Company’s projects being consistent with current expectations and mine plans; (iii) political developments in any jurisdiction in which the Company operates being consistent with its current expectations; (iv) certain exchange rate assumptions for the Australian dollar to the U.S. dollar, as well as other the exchange rates being approximately consistent with current levels; (v) certain price assumptions for gold, copper and oil; (vi) prices for key supplies being approximately consistent with current levels; and (vii) the accuracy of our current mineral reserve and mineral resource estimates. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis.  However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements.  Such risks include, but are not limited to, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, political and operational risks in the countries in which we operate, and governmental regulation and judicial outcomes.  For a more detailed discussion of such risks and other factors, see the Company’s 2009 Annual Report on Form 10-K, filed on February 25, 2010, with the Securities and Exchange Commission, as well as the Company’s other SEC filings.  The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

Page 14 of 14  	

 

 

 
	 	Newmont Mining Corporation
6363 South Fiddlers Green Circle, Suite 800
Greenwood Village, CO 80111
T   303.863.7414
F    303.837.5837
www.newmont.com	

 
Newmont Reports 8% Increase in Equity Gold Reserves to 91.8 Million Ounces; Details 2010 Exploration Funding and Opportunities

DENVER, February 25, 2010 – Newmont Mining Corporation (NYSE: NEM) (“Newmont” or “the Company”) today reported 2009 equity gold reserves of 91.8 million ounces, an 8% increase over 2008, and equity copper reserves of 9.1 billion pounds, a 17% increase over 2008.

Equity gold measured and indicated resources (NRM) for 2009 were 1.1 billion tons at an average grade of 0.020 ounces per ton, up from 0.8 billion tons at a grade of 0.026 ounces per ton for 2008. Equity copper NRM for 2009 were 796 million tons at an average grade of 0.17%, up from 431 million tons at a grade of 0.13% from 2008.

 
(1)	For detailed information on the Company’s year-end equity proven and probable reserves and NRM, please refer to the Supplemental Information in this release.	

Reserve additions came from all regions, with notable additions from Gold Quarry in Nevada, Boddington in Australia, underground operations across Australia and New Zealand and at Ahafo in Ghana.

“A combination of strong 2009 exploration results and the Boddington acquisition resulted in equity gold reserves at our highest level since 2006 and equity gold NRM at the highest level since 2003.” said Guy Lansdown, Executive Vice President of Discovery and Development.  “These increases, combined with our generative exploration opportunities, will support future sustainability in each of our operating regions.”

 

 
Exploration, Advanced Projects, Research & Development

The recent success of the Company’s exploration program, combined with a demonstrated ability to advance exploration programs through development and into production, has established a platform for future growth.  To provide increasing value for shareholders, Newmont plans to continue aggressively advancing its most prospective near mine and generative exploration development opportunities into production.

The 2010 exploration budget is between $190 and $220 million, an increase of approximately 10% from 2009.  In addition, funding for Advanced Project development has increased to between $185 and $210 million, a 40% increase from 2009.  These exploration and advanced project development programs are designed to generate and develop the projects that will help drive production in the decades to come.

Approximately 75% of the exploration budget is focused on programs within Newmont’s existing operating districts and major land packages, including the prospective gold belts at Hope Bay in Canada and in Suriname.  These exploration programs are designed to support production, replace reserves, optimize existing assets, explore and advance copper opportunities and to develop new brown field projects that leverage existing facilities and infrastructure.

The additional Advanced Project development programs are coordinated with our exploration efforts, with exploration delivering new resources that are effectively advanced through the development pipeline in each of the operating regions.  The Company’s more notable exploration and advanced project development opportunities include Hope Bay in Canada, the Greater Leeville-Turf project in Nevada, the Subika underground project in Ghana, expansion drilling at Boddington in Australia, and multiple programs targeting underground resource expansions across Australia and New Zealand and sulfide exploration and development programs in Peru.

Hope Bay, Canada

At Hope Bay in Canada, positive 2009 drilling and regional exploration results have reinforced the positive view of exploration potential across the 80 kilometer greenstone belt.  The Company is advancing development with an underground focus, to be initiated with a decline at the Doris North deposit.  The Company has deployed an experienced project development team and key contractors are in place to aggressively advance this underground opportunity.  With near-term development plans and district exploration for years to come, Hope Bay remains a significant asset within the Company’s portfolio. The Company expects to spend approximately $60 to $70 million on advanced project development and near mine exploration in 2010 at Hope Bay, excluding capital.

Greater Leeville-Turf, Nevada

In Nevada, the Company has a portfolio of multiple open pit and underground projects.  One of these opportunities is the Greater Leeville-Turf program, where the Company has a surface exploration program extending well beyond known mineralization.  Early results from both surface and underground exploration programs suggest significant potential for resource expansion, with recent surface gold intercepts including CGX-24 with 32 feet at 0.7 ounces per ton and CGX-12 with 151 feet at 0.6 ounces per ton, all accessible by extensions of current underground infrastructure. The Company expects to spend approximately $75 to $85 million on advanced project development and near mine exploration in 2010 in Nevada, excluding capital.

Page 2 of 7	

 

 
Subika Expansion, Ghana

The Subika Expansion project at our Ahafo operation in Ghana is focused on developing reserves by expanding the existing open pit and through underground development.  The Company is concurrently advancing exploration and development with surface drilling to define the exploration potential and underground drifting and future drilling for resource and project development.  An exploration decline was successfully initiated in February 2010 and underground development is advancing rapidly. The Company expects to spend approximately $10 to $15 million on advanced project development and near mine exploration in 2010 in Ghana, excluding capital.

Australia / New Zealand

As Boddington ramps-up to full production, the Company continues to step out with exploration to the north and east, where preliminary results suggest significant opportunity for higher grade, shallow resource additions.  Across Australia and in New Zealand, the Company is expanding underground resources with surface and underground exploration and development programs.  One such opportunity is the Gateway project at Jundee, where drilling continues to identify a new vein system to the south of current resources with potential exploration drifting scheduled for late 2010 to early 2011. The Company expects to spend approximately $20 to $30 million on advanced project development and near mine exploration in 2010 in Australia/New Zealand, excluding capital.

Yanacocha District, Peru

In South America, the Company’s exploration focus is on unlocking the sulfide opportunities within the Yanacocha district and around the Conga project.  Advanced exploration and development of the large gold-copper sulfide resources underlying current Yanacocha oxide pits is ongoing.  As a result, research and development of metallurgical process options for potentially minable resources is advancing.  In addition, the Chaquicocha Sur sulfide project has advanced into Stage 2, with a program focused on an underground mining option to develop this high grade resource.  In addition, while basic engineering and permitting advances on the Conga project, multiple gold-copper porphyry targets across the prospective land package are being explored to maximize the value of this world class project. The Company expects to spend approximately $25 to $30 million on advanced project development and near mine exploration in 2010 in Peru.

Page  3 of 7	

 	

Supplemental Information:
 
Equity Proven, Probable, and Combined Gold Reserves (1)	 	
 	 	 	 	 	December 31, 2009	 	 	December 31, 2008	 	
Deposits/Districts by Reporting Unit	 	 	 	 	Proven Reserves	 	 	Probable Reserves	 	 	Proven and Probable Reserves	 	 	Metallurgical Recovery	 	 	Proven + Probable Reserves	 	
 	 	Newmont	 	 	Tonnage	 	 	Grade	 	 	Gold	 	 	Tonnage	 	 	Grade	 	 	Gold	 	 	Tonnage	 	 	Grade	 	 	Gold	 	 	 	 	 	Tonnage	 	 	Grade	 	 	Gold	 	
 	 	Share	 	 	(000 tons)	 	 	(oz/ton)	 	 	(000 ozs)	 	 	(000 tons)	 	 	(oz/ton)	 	 	(000 ozs)	 	 	(000 tons)	 	 	(oz/ton)	 	 	(000 ozs)	 	 	 	 	 	(000 tons)	 	 	(oz/ton)	 	 	(000 ozs)	 	
NORTH AMERICA	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Carlin Open Pits, Nevada (2)	 	 	100	%	 	 	24,400	 	 	 	0.067	 	 	 	1,640	 	 	 	234,900	 	 	 	0.042	 	 	 	9,760	 	 	 	259,300	 	 	 	0.044	 	 	 	11,400	 	 	 	74	%	 	 	202,400	 	 	 	0.045	 	 	 	9,050	 	
Carlin Underground, Nevada	 	 	100	%	 	 	4,600	 	 	 	0.307	 	 	 	1,400	 	 	 	5,100	 	 	 	0.315	 	 	 	1,590	 	 	 	9,700	 	 	 	0.311	 	 	 	2,990	 	 	 	88	%	 	 	11,700	 	 	 	0.313	 	 	 	3,650	 	
Midas, Nevada (3)	 	 	100	%	 	 	400	 	 	 	0.480	 	 	 	200	 	 	 	300	 	 	 	0.347	 	 	 	100	 	 	 	700	 	 	 	0.425	 	 	 	300	 	 	 	95	%	 	 	900	 	 	 	0.436	 	 	 	390	 	
Phoenix, Nevada	 	 	100	%	 	 	0	 	 	 	 	 	 	 	0	 	 	 	285,000	 	 	 	0.020	 	 	 	5,670	 	 	 	285,000	 	 	 	0.020	 	 	 	5,670	 	 	 	73	%	 	 	299,800	 	 	 	0.021	 	 	 	6,310	 	
Twin Creeks, Nevada	 	 	100	%	 	 	9,300	 	 	 	0.097	 	 	 	900	 	 	 	40,900	 	 	 	0.072	 	 	 	2,950	 	 	 	50,200	 	 	 	0.077	 	 	 	3,850	 	 	 	80	%	 	 	51,700	 	 	 	0.077	 	 	 	3,960	 	
Turquoise Ridge, Nevada (4)	 	 	25	%	 	 	1,100	 	 	 	0.480	 	 	 	550	 	 	 	1,500	 	 	 	0.527	 	 	 	810	 	 	 	2,600	 	 	 	0.507	 	 	 	1,360	 	 	 	92	%	 	 	2,600	 	 	 	0.500	 	 	 	1,330	 	
Nevada In-Process (5)	 	 	100	%	 	 	33,800	 	 	 	0.021	 	 	 	730	 	 	 	0	 	 	 	 	 	 	 	0	 	 	 	33,800	 	 	 	0.021	 	 	 	730	 	 	 	65	%	 	 	36,000	 	 	 	0.026	 	 	 	940	 	
Nevada Stockpiles (6)	 	 	100	%	 	 	27,000	 	 	 	0.079	 	 	 	2,140	 	 	 	2,500	 	 	 	0.028	 	 	 	70	 	 	 	29,500	 	 	 	0.075	 	 	 	2,210	 	 	 	79	%	 	 	34,200	 	 	 	0.072	 	 	 	2,460	 	
Total Nevada	 	 	 	 	 	 	100,600	 	 	 	0.075	 	 	 	7,560	 	 	 	570,200	 	 	 	0.037	 	 	 	20,950	 	 	 	670,800	 	 	 	0.042	 	 	 	28,510	 	 	 	77	%	 	 	639,300	 	 	 	0.044	 	 	 	28,090	 	
La Herradura, Mexico	 	 	44	%	 	 	46,100	 	 	 	0.019	 	 	 	900	 	 	 	47,100	 	 	 	0.019	 	 	 	880	 	 	 	93,200	 	 	 	0.019	 	 	 	1,780	 	 	 	66	%	 	 	76,100	 	 	 	0.025	 	 	 	1,890	 	
TOTAL NORTH AMERICA	 	 	 	 	 	 	146,700	 	 	 	0.058	 	 	 	8,460	 	 	 	617,300	 	 	 	0.035	 	 	 	21,830	 	 	 	764,000	 	 	 	0.040	 	 	 	30,290	 	 	 	77	%	 	 	715,400	 	 	 	0.044	 	 	 	29,980	 	
SOUTH AMERICA	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Conga, Peru (7)	 	 	51.35	%	 	 	0	 	 	 	 	 	 	 	0	 	 	 	317,200	 	 	 	0.019	 	 	 	6,080	 	 	 	317,200	 	 	 	0.019	 	 	 	6,080	 	 	 	79	%	 	 	317,200	 	 	 	0.019	 	 	 	6,080	 	
Yanacocha Open Pits (8)	 	 	51.35	%	 	 	7,800	 	 	 	0.035	 	 	 	270	 	 	 	123,700	 	 	 	0.036	 	 	 	4,480	 	 	 	131,500	 	 	 	0.036	 	 	 	4,750	 	 	 	69	%	 	 	207,500	 	 	 	0.030	 	 	 	6,150	 	
Yanacocha In-Process (5)	 	 	51.35	%	 	 	26,400	 	 	 	0.025	 	 	 	660	 	 	 	0	 	 	 	 	 	 	 	0	 	 	 	26,400	 	 	 	0.025	 	 	 	660	 	 	 	74	%	 	 	20,800	 	 	 	0.026	 	 	 	530	 	
Total Yanacocha, Peru	 	 	 	 	 	 	34,200	 	 	 	0.027	 	 	 	930	 	 	 	123,700	 	 	 	0.036	 	 	 	4,480	 	 	 	157,900	 	 	 	0.034	 	 	 	5,410	 	 	 	69	%	 	 	228,300	 	 	 	0.029	 	 	 	6,680	 	
Kori Kollo, Bolivia (9)	 	 	88	%	 	 	0	 	 	 	 	 	 	 	0	 	 	 	0	 	 	 	 	 	 	 	0	 	 	 	0	 	 	 	 	 	 	 	0	 	 	 	 	 	 	 	11,500	 	 	 	0.017	 	 	 	190	 	
La Zanja, Peru (10)	 	 	46.94	%	 	 	0	 	 	 	 	 	 	 	0	 	 	 	18,800	 	 	 	0.018	 	 	 	340	 	 	 	18,800	 	 	 	0.018	 	 	 	340	 	 	 	67	%	 	 	0	 	 	 	 	 	 	 	0	 	
TOTAL SOUTH AMERICA	 	 	 	 	 	 	34,200	 	 	 	0.027	 	 	 	930	 	 	 	459,700	 	 	 	0.024	 	 	 	10,900	 	 	 	493,900	 	 	 	0.024	 	 	 	11,830	 	 	 	74	%	 	 	557,000	 	 	 	0.023	 	 	 	12,950	 	
ASIA PACIFIC	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Batu Hijau Open Pit (11)	 	 	52.44	%	 	 	201,100	 	 	 	0.015	 	 	 	2,970	 	 	 	167,700	 	 	 	0.005	 	 	 	810	 	 	 	368,800	 	 	 	0.010	 	 	 	3,780	 	 	 	76	%	 	 	348,800	 	 	 	0.011	 	 	 	3,680	 	
Batu Hijau Stockpiles (6)(11)	 	 	52.44	%	 	 	0	 	 	 	 	 	 	 	0	 	 	 	193,800	 	 	 	0.004	 	 	 	720	 	 	 	193,800	 	 	 	0.004	 	 	 	720	 	 	 	70	%	 	 	131,400	 	 	 	0.003	 	 	 	410	 	
Total Batu Hijau, Indonesia	 	 	52.44	%	 	 	201,100	 	 	 	0.015	 	 	 	2,970	 	 	 	361,500	 	 	 	0.004	 	 	 	1,530	 	 	 	562,600	 	 	 	0.008	 	 	 	4,500	 	 	 	75	%	 	 	480,200	 	 	 	0.009	 	 	 	4,090	 	
Boddington, Western Australia (12)	 	 	100.00	%	 	 	184,600	 	 	 	0.025	 	 	 	4,640	 	 	 	781,800	 	 	 	0.021	 	 	 	16,320	 	 	 	966,400	 	 	 	0.022	 	 	 	20,960	 	 	 	82	%	 	 	583,200	 	 	 	0.023	 	 	 	13,370	 	
Jundee, Western Australia	 	 	100	%	 	 	4,100	 	 	 	0.065	 	 	 	260	 	 	 	3,300	 	 	 	0.273	 	 	 	910	 	 	 	7,400	 	 	 	0.159	 	 	 	1,170	 	 	 	90	%	 	 	6,300	 	 	 	0.202	 	 	 	1,270	 	
Kalgoorlie Open Pit and Underground	 	 	50	%	 	 	21,200	 	 	 	0.061	 	 	 	1,280	 	 	 	39,600	 	 	 	0.062	 	 	 	2,470	 	 	 	60,800	 	 	 	0.062	 	 	 	3,750	 	 	 	85	%	 	 	63,700	 	 	 	0.062	 	 	 	3,970	 	
Kalgoorlie Stockpiles(6)	 	 	50	%	 	 	14,300	 	 	 	0.031	 	 	 	440	 	 	 	0	 	 	 	 	 	 	 	0	 	 	 	14,300	 	 	 	0.031	 	 	 	440	 	 	 	78	%	 	 	14,400	 	 	 	0.031	 	 	 	450	 	
Total Kalgoorlie, Western Australia	 	 	50	%	 	 	35,500	 	 	 	0.049	 	 	 	1,720	 	 	 	39,600	 	 	 	0.062	 	 	 	2,470	 	 	 	75,100	 	 	 	0.056	 	 	 	4,190	 	 	 	84	%	 	 	78,100	 	 	 	0.056	 	 	 	4,420	 	
Tanami, Northern Territories	 	 	100	%	 	 	5,200	 	 	 	0.160	 	 	 	830	 	 	 	7,900	 	 	 	0.102	 	 	 	810	 	 	 	13,100	 	 	 	0.125	 	 	 	1,640	 	 	 	96	%	 	 	11,500	 	 	 	0.129	 	 	 	1,480	 	
Waihi, New Zealand	 	 	100	%	 	 	0	 	 	 	 	 	 	 	0	 	 	 	4,000	 	 	 	0.101	 	 	 	410	 	 	 	4,000	 	 	 	0.101	 	 	 	410	 	 	 	90	%	 	 	2,900	 	 	 	0.124	 	 	 	360	 	
TOTAL ASIA PACIFIC	 	 	 	 	 	 	430,500	 	 	 	0.024	 	 	 	10,420	 	 	 	1,198,100	 	 	 	0.019	 	 	 	22,450	 	 	 	1,628,600	 	 	 	0.020	 	 	 	32,870	 	 	 	82	%	 	 	1,162,200	 	 	 	0.022	 	 	 	24,990	 	
AFRICA	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ahafo Open Pits (13)	 	 	100	%	 	 	0	 	 	 	 	 	 	 	0	 	 	 	128,700	 	 	 	0.068	 	 	 	8,810	 	 	 	128,700	 	 	 	0.068	 	 	 	8,810	 	 	 	87	%	 	 	 	 	 	 	 	 	 	 	 	 	
Ahafo Stockpiles (6)	 	 	100	%	 	 	9,300	 	 	 	0.034	 	 	 	320	 	 	 	0	 	 	 	 	 	 	 	0	 	 	 	9,300	 	 	 	0.034	 	 	 	320	 	 	 	87	%	 	 	 	 	 	 	 	 	 	 	 	 	
Total Ahafo, Ghana	 	 	100	%	 	 	9,300	 	 	 	0.034	 	 	 	320	 	 	 	128,700	 	 	 	0.068	 	 	 	8,810	 	 	 	138,000	 	 	 	0.066	 	 	 	9,130	 	 	 	87	%	 	 	125,100	 	 	 	0.075	 	 	 	9,380	 	
Akyem, Ghana (14)	 	 	100	%	 	 	0	 	 	 	 	 	 	 	0	 	 	 	147,200	 	 	 	0.052	 	 	 	7,660	 	 	 	147,200	 	 	 	0.052	 	 	 	7,660	 	 	 	89	%	 	 	147,200	 	 	 	0.052	 	 	 	7,660	 	
TOTAL AFRICA	 	 	 	 	 	 	9,300	 	 	 	0.034	 	 	 	320	 	 	 	275,900	 	 	 	0.060	 	 	 	16,470	 	 	 	285,200	 	 	 	0.059	 	 	 	16,790	 	 	 	88	%	 	 	272,300	 	 	 	0.063	 	 	 	17,040	 	
TOTAL NEWMONT WORLDWIDE	 	 	 	 	 	 	620,700	 	 	 	0.032	 	 	 	20,130	 	 	 	2,551,000	 	 	 	0.028	 	 	 	71,650	 	 	 	3,171,700	 	 	 	0.029	 	 	 	91,780	 	 	 	80	%	 	 	2,706,900	 	 	 	0.031	 	 	 	84,960	 	

(1)	Reserves are calculated at a gold price of US$800, A$1000, or NZ$1,200 per ounce unless otherwise noted. 2008 reserves were calculated at a gold price of  US$725, A$850, or NZ$1,000  per ounce unless otherwise noted.  Tonnage amounts have been rounded to the nearest 100,000 unless they are less than 50,000, and gold ounces have been rounded to the nearest 10,000.	
(2)	Includes undeveloped reserves at the Emigrant deposits for combined total undeveloped reserves of 1.2 million ounces.	
(3)	Also contains reserves of 4.6 million ounces of silver with a metallurgical recovery of 88%.	
(4)	Reserve estimates provided by Barrick, the operator of the Turquoise Ridge Joint Venture.	
(5)	In-process material is the material on leach pads at the end of each year from which gold remains to be recovered.  In-process material reserves are reported separately where tonnage or contained ounces are greater than 5% of the total site-reported reserves and contained ounces are greater than 100,000.	
(6)	Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills.  Stockpiles increase or decrease depending on current mine plans.  Stockpile reserves are reported separately where tonnage or contained ounces are greater than 5% of the total site-reported reserves and contained ounces are greater than 100,000.	
(7)	Deposit is currently undeveloped.	
(8)	Reserves include the currently undeveloped deposit at Tapado Oeste (formerly called Corimayo), which contains undeveloped reserves of 1.2 million equity ounces.	
(9)	Newmont divested its interest in Kori Kollo in July 2009.	
(10)	Reserves estimates were provided by Buenaventura, the operator of the La Zanja project.	
(11)	Percentage reflects Newmont's economic interest at December 31, 2009.  In November and December 2009 our economic interest increased from 45% to 52.44% as a result of transactions with a noncontrolling partner, partially offset by divestiture required under the Contract of Work.	
(12)	Newmont acquired the remaining 33.33% of Boddington from AngloGold in June 2009.	
(13)	Includes undeveloped reserves at Amoma, Yamfo South, Yamfo Central, Techire West, Subenso South, Subenso North, Yamfo Northeast, and Susuan totaling 3.7 million ounces.	
(14)	Deposit is undeveloped.	

Page 4 of 7	

 	

Equity Gold Mineralized Material Not in Reserves (1)(2)	 	
December 31, 2009	 	
Deposits/Districts	 	 	 	 	Measured Material	 	 	Indicated Material	 	 	Measured + Indicated Material	 	 	Inferred Material	 	
 	 	Newmont	 	 	Tonnage	 	 	Grade	 	 	Tonnage	 	 	Grade	 	 	Tonnage	 	 	Grade	 	 	Tonnage	 	 	Grade	 	
 	 	Share	 	 	(000 tons)	 	 	(oz/ton)	 	 	(000 tons)	 	 	(oz/ton)	 	 	(000 tons)	 	 	(oz/ton)	 	 	(000 tons)	 	 	(oz/ton)	 	
NORTH AMERICA	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Carlin Trend Open Pit, Nevada	 	 	100	%	 	 	2,600	 	 	 	0.027	 	 	 	26,200	 	 	 	0.020	 	 	 	28,800	 	 	 	0.021	 	 	 	10,400	 	 	 	0.034	 	
Carlin Trend Underground, Nevada	 	 	100	%	 	 	700	 	 	 	0.189	 	 	 	110	 	 	 	0.153	 	 	 	810	 	 	 	0.18	 	 	 	7,400	 	 	 	0.289	 	
Lone Tree Complex, Nevada	 	 	100	%	 	 	0	 	 	 	 	 	 	 	4,200	 	 	 	0.022	 	 	 	4,200	 	 	 	0.022	 	 	 	0	 	 	 	 	 	
Midas, Nevada	 	 	100	%	 	 	0	 	 	 	0.205	 	 	 	100	 	 	 	0.188	 	 	 	100	 	 	 	0.193	 	 	 	100	 	 	 	0.248	 	
Phoenix, Nevada	 	 	100	%	 	 	0	 	 	 	0.000	 	 	 	158,400	 	 	 	0.013	 	 	 	158,400	 	 	 	0.013	 	 	 	35,400	 	 	 	0.015	 	
Twin Creeks, Nevada	 	 	100	%	 	 	3,400	 	 	 	0.097	 	 	 	31,600	 	 	 	0.045	 	 	 	35,000	 	 	 	0.050	 	 	 	11,300	 	 	 	0.018	 	
Turquoise Ridge (3) , Nevada	 	 	25	%	 	 	300	 	 	 	0.412	 	 	 	300	 	 	 	0.452	 	 	 	600	 	 	 	0.431	 	 	 	1,300	 	 	 	0.456	 	
Nevada Stockpiles (4) , Nevada	 	 	100	%	 	 	10,700	 	 	 	0.060	 	 	 	 	 	 	 	 	 	 	 	10,700	 	 	 	0.060	 	 	 	2,300	 	 	 	0.043	 	
Total Nevada	 	 	 	 	 	 	17,700	 	 	 	0.074	 	 	 	220,910	 	 	 	0.020	 	 	 	238,610	 	 	 	0.024	 	 	 	68,200	 	 	 	0.058	 	
La Herradura, Mexico	 	 	44	%	 	 	6,500	 	 	 	0.017	 	 	 	7,800	 	 	 	0.016	 	 	 	14,300	 	 	 	0.016	 	 	 	20,500	 	 	 	0.019	 	
TOTAL NORTH AMERICA	 	 	 	 	 	 	24,200	 	 	 	0.058	 	 	 	228,710	 	 	 	0.019	 	 	 	252,910	 	 	 	0.023	 	 	 	88,700	 	 	 	0.049	 	
SOUTH AMERICA	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Conga, Peru	 	 	51.35	%	 	 	0	 	 	 	 	 	 	 	58,000	 	 	 	0.013	 	 	 	58,000	 	 	 	0.013	 	 	 	79,000	 	 	 	0.011	 	
Yanacocha, Peru	 	 	51.35	%	 	 	1,300	 	 	 	0.017	 	 	 	157,800	 	 	 	0.020	 	 	 	159,100	 	 	 	0.020	 	 	 	25,800	 	 	 	0.019	 	
La Zanja (5) , Peru	 	 	46.94	%	 	 	0	 	 	 	 	 	 	 	0	 	 	 	0.000	 	 	 	0	 	 	 	0.000	 	 	 	4,000	 	 	 	0.016	 	
TOTAL SOUTH AMERICA	 	 	 	 	 	 	1,300	 	 	 	0.017	 	 	 	215,800	 	 	 	0.018	 	 	 	217,100	 	 	 	0.018	 	 	 	108,800	 	 	 	0.013	 	
ASIA PACIFIC	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Batu Hijau (6) , Indonesia	 	 	52.44	%	 	 	25,400	 	 	 	0.017	 	 	 	148,400	 	 	 	0.007	 	 	 	173,800	 	 	 	0.008	 	 	 	81,300	 	 	 	0.002	 	
Boddington, Western Australia (7)	 	 	100	%	 	 	20,600	 	 	 	0.010	 	 	 	344,200	 	 	 	0.015	 	 	 	364,800	 	 	 	0.014	 	 	 	292,900	 	 	 	0.016	 	
Jundee, Western Australia	 	 	100	%	 	 	0	 	 	 	 	 	 	 	200	 	 	 	0.045	 	 	 	200	 	 	 	0.045	 	 	 	3,800	 	 	 	0.068	 	
Kalgoorlie, Western Australia	 	 	50	%	 	 	2,300	 	 	 	0.059	 	 	 	4,100	 	 	 	0.054	 	 	 	6,400	 	 	 	0.056	 	 	 	1,600	 	 	 	0.136	 	
Tanami, Northern Territory	 	 	100	%	 	 	300	 	 	 	0.099	 	 	 	1,100	 	 	 	0.082	 	 	 	1,400	 	 	 	0.086	 	 	 	8,100	 	 	 	0.152	 	
Waihi, New Zealand	 	 	100	%	 	 	0	 	 	 	 	 	 	 	1,200	 	 	 	0.206	 	 	 	1,200	 	 	 	0.206	 	 	 	300	 	 	 	0.146	 	
TOTAL ASIA PACIFIC	 	 	 	 	 	 	48,600	 	 	 	0.016	 	 	 	499,200	 	 	 	0.013	 	 	 	547,800	 	 	 	0.013	 	 	 	388,000	 	 	 	0.017	 	
AFRICA	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Ahafo, Ghana	 	 	100	%	 	 	0	 	 	 	 	 	 	 	97,800	 	 	 	0.050	 	 	 	97,800	 	 	 	0.050	 	 	 	26,200	 	 	 	0.104	 	
Akyem, Ghana	 	 	100	%	 	 	0	 	 	 	 	 	 	 	11,600	 	 	 	0.048	 	 	 	11,600	 	 	 	0.048	 	 	 	4,600	 	 	 	0.047	 	
TOTAL AFRICA	 	 	 	 	 	 	0	 	 	 	 	 	 	 	109,400	 	 	 	0.050	 	 	 	109,400	 	 	 	0.050	 	 	 	30,800	 	 	 	0.095	 	
TOTAL NEWMONT WORLDWIDE	 	 	 	 	 	 	74,100	 	 	 	0.030	 	 	 	1,053,110	 	 	 	0.019	 	 	 	1,127,210	 	 	 	0.020	 	 	 	616,300	 	 	 	0.025	 	
 
(1)	Mineralized material is reported exclusive of reserves.	
(2)	Mineralized Material calculated at a gold price of US$950, A$1,200, or NZ$1,400 per ounce unless otherwise noted.  2008 Mineralized material was calculated at a gold price of US$850, A$1,000, or NZ$1,175 per ounce. Tonnage amounts have been rounded to the nearest 100,000.	
(3)	Mineralized material estimates were provided by Barrick, the operator of the Turquoise Ridge Joint Venture.	
(4)	Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the mills.  Stockpiles increase or decrease depending on current mine plans.	
(5)	Mineralized material estimates were provided by Buenaventura, the operator of the La Zanja Project.	
(6)	Percentage reflects Newmont's economic interest at December 31, 2009.  In November and December 2009 our economic interest increased from 45% to 52.44% as a result of transactions with a noncontrolling partner, partially offset by divestiture required under the Contract of Work.	
(7)	Newmont acquired the remaining 33.33% of Boddington from AngloGold in June 2009.	

Page 5  of 7	

 

 
Equity Copper Reserves (1)	 	
December 31, 2009	 	
 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	December 31, 2008	 	
 	 	 	 	 	Proven Reserves	 	 	Probable Reserves	 	 	Proven + Probable Reserves	 	 	 	 	 	Proven + Probable Reserve	 	
Deposits/Districts	 	Newmont	 	 	Tonnage	 	 	Grade	 	 	Copper	 	 	Tonnage	 	 	Grade	 	 	Copper	 	 	Tonnage	 	 	Grade	 	 	Copper	 	 	Metallurgical	 	 	Tonnage	 	 	Grade	 	 	Copper	 	
 	 	share	 	 	(000 tons)	 	 	(Cu%)	 	 	(million pounds)	 	 	(000 tons)	 	 	(Cu%)	 	 	(million pounds)	 	 	(000 tons)	 	 	(Cu%)	 	 	(million pounds)	 	 	Recovery	 	 	(000 tons)	 	 	(Cu%)	 	 	(million pounds)	 	
NORTH AMERICA	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Phoenix, Nevada	 	 	100	%	 	 	0	 	 	 	 	 	 	0	 	 	 	287,500	 	 	 	0.16	%	 	 	900	 	 	 	287,500	 	 	 	0.16	%	 	 	900	 	 	 	61	%	 	 	302,000	 	 	 	0.15	%	 	 	890	 	
TOTAL NORTH AMERICA	 	 	 	 	 	 	0	 	 	 	 	 	 	0	 	 	 	287,500	 	 	 	0.16	%	 	 	900	 	 	 	287,500	 	 	 	0.16	%	 	 	900	 	 	 	61	%	 	 	302,000	 	 	 	0.15	%	 	 	890	 	
SOUTH AMERICA	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Conga, Peru (2)	 	 	51.35	%	 	 	0	 	 	 	 	 	 	0	 	 	 	317,200	 	 	 	0.26	%	 	 	1,660	 	 	 	317,200	 	 	 	0.26	%	 	 	1,660	 	 	 	85	%	 	 	317,200	 	 	 	0.26	%	 	 	1,660	 	
TOTAL SOUTH AMERICA	 	 	 	 	 	 	0	 	 	 	 	 	 	0	 	 	 	317,200	 	 	 	0.26	%	 	 	1,660	 	 	 	317,200	 	 	 	0.26	%	 	 	1,660	 	 	 	85	%	 	 	317,200	 	 	 	0.26	%	 	 	1,660	 	
ASIA PACIFIC	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Batu Hijau (3)	 	 	52.44	%	 	 	201,100	 	 	 	0.51	%	 	 	2,070	 	 	 	167,700	 	 	 	0.32	%	 	 	1,060	 	 	 	368,800	 	 	 	0.42	%	 	 	3,130	 	 	 	77	%	 	 	348,800	 	 	 	0.44	%	 	 	3,060	 	
Batu Hijau, Stockpiles (3)(4)	 	 	52.44	%	 	 	0	 	 	 	 	 	 	 	0	 	 	 	193,800	 	 	 	0.36	%	 	 	1,390	 	 	 	193,800	 	 	 	0.36	%	 	 	1,390	 	 	 	66	%	 	 	131,400	 	 	 	0.34	%	 	 	890	 	
Batu Hijau, Indonesia	 	 	52.44	%	 	 	201,100	 	 	 	0.51	%	 	 	2,070	 	 	 	361,500	 	 	 	0.34	%	 	 	2,450	 	 	 	562,600	 	 	 	0.40	%	 	 	4,520	 	 	 	74	%	 	 	480,200	 	 	 	0.41	%	 	 	3,950	 	
Boddington, Western Australia (5)	 	 	100.00	%	 	 	184,600	 	 	 	0.11	%	 	 	400	 	 	 	781,800	 	 	 	0.10	%	 	 	1,640	 	 	 	966,400	 	 	 	0.11	%	 	 	2,040	 	 	 	84	%	 	 	583,200	 	 	 	0.11	%	 	 	1,280	 	
TOTAL ASIA PACIFIC	 	 	 	 	 	 	385,700	 	 	 	0.32	%	 	 	2,470	 	 	 	1,143,300	 	 	 	0.18	%	 	 	4,090	 	 	 	1,529,000	 	 	 	0.21	%	 	 	6,560	 	 	 	77	%	 	 	1,063,400	 	 	 	0.25	%	 	 	5,230	 	
TOTAL NEWMONT WORLDWIDE	 	 	 	 	 	 	385,700	 	 	 	0.32	%	 	 	2,470	 	 	 	1,748,000	 	 	 	0.19	%	 	 	6,650	 	 	 	2,133,700	 	 	 	0.21	%	 	 	9,120	 	 	 	77	%	 	 	1,682,600	 	 	 	0.23	%	 	 	7,780	 	
 
(1)	Reserves are calculated at US$2.00 or A$2.40 per pound copper price unless otherwise noted.  2008 reserves were also calculated at US$2.00 or A$2.40 per pound copper price unless otherwise noted.  Tonnage amounts have been rounded to the nearest 100,000 and pounds have been rounded to the nearest 10 million.	
(2)	Deposit is undeveloped.	
(3)	Percentage reflects Newmont's economic interest at December 31, 2009.  In November and December 2009 our economic interest increased from 45% to 52.44% as a result of transactions with a noncontrolling partner, partially offset by divestiture required under the Contract of Work.	
(4)	Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material.  Stockpiles increase or decrease depending on current mine plans.  Stockpiles are reported separately where tonnage or contained metal are greater than 5% of the total site reported reserves.	
(5)	Newmont acquired the remaining 33.33% of Boddington from AngloGold in June 2009.	
 
Equity Copper Mineralized Material Not in Reserves (1)(2)	 	
December 31, 2009	 	
Deposits/Districts	 	 	 	 	Measured Material	 	 	Indicated Material	 	 	Measured + Indicated Material	 	 	Inferred Material	 	
 	 	Newmont	 	 	Tonnage	 	 	Grade	 	 	Tonnage	 	 	Grade	 	 	Tonnage	 	 	Grade	 	 	Tonnage	 	 	Grade	 	
 	 	Share	 	 	(000 tons)	 	 	(Cu%)	 	 	(000 tons)	 	 	(Cu%)	 	 	(000 tons)	 	 	(Cu%)	 	 	(000 tons)	 	 	(Cu%)	 	
NORTH AMERICA	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Phoenix, Nevada	 	 	100	%	 	 	0	 	 	 	0.00	%	 	 	199,687	 	 	 	0.18	%	 	 	199,687	 	 	 	0.18	%	 	 	91,815	 	 	 	0.23	%	
TOTAL NORTH AMERICA	 	 	 	 	 	 	 	 	 	 	 	 	 	 	199,687	 	 	 	0.18	%	 	 	199,687	 	 	 	0.18	%	 	 	91,815	 	 	 	0.23	%	
SOUTH AMERICA	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Conga, Peru	 	 	51.35	%	 	 	0	 	 	 	0.00	%	 	 	58,000	 	 	 	0.18	%	 	 	58,000	 	 	 	0.18	%	 	 	79,000	 	 	 	0.17	%	
TOTAL SOUTH AMERICA	 	 	 	 	 	 	 	 	 	 	 	 	 	 	58,000	 	 	 	0.18	%	 	 	58,000	 	 	 	0.18	%	 	 	79,000	 	 	 	0.17	%	
ASIA PACIFIC	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	
Batu Hijau, Indonesia (3)	 	 	52.44	%	 	 	25,400	 	 	 	0.42	%	 	 	148,400	 	 	 	0.31	%	 	 	173,800	 	 	 	0.32	%	 	 	81,300	 	 	 	0.22	%	
Boddington, Western Australia (4)	 	 	100.00	%	 	 	20,600	 	 	 	0.08	%	 	 	344,200	 	 	 	0.10	%	 	 	364,800	 	 	 	0.09	%	 	 	292,900	 	 	 	0.10	%	
TOTAL ASIA PACIFIC	 	 	 	 	 	 	46,000	 	 	 	0.27	%	 	 	492,600	 	 	 	0.16	%	 	 	538,600	 	 	 	0.17	%	 	 	374,200	 	 	 	0.13	%	
TOTAL NEWMONT WORLDWIDE	 	 	 	 	 	 	46,000	 	 	 	0.27	%	 	 	750,287	 	 	 	0.17	%	 	 	796,287	 	 	 	0.17	%	 	 	545,015	 	 	 	0.15	%	

(1)	Mineralized material is reported exclusive of reserves.	
(2)	Mineralized material calculated at a copper price of US$2.50 or A$3.00 per pound unless otherwise noted.  2008 mineralized material was also calculated at a copper price of US$2.50 or A$3.00 per pound.  Tonnage amounts have been rounded to the nearest 100,000.	
(3)	Percentage reflects Newmont's economic interest at December 31, 2009.  In November and December 2009 our economic interest increased from 45% to 52.44% as a result of transactions with a noncontrolling partner, partially offset by divestiture required under the Contract of Work.	
(4)	Newmont acquired the remaining 33.33% of Boddington from AngloGold in June 2009.	

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To view more detailed financial disclosure, including regional mine statistics, Results of Consolidated Operations, Liquidity and Capital Resources, Management’s Discussion & Analysis, relevant Risk Factors, and a complete outline of the 2009 Operating and Financial guidance by region, please see the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 25, 2010, available at www.newmont.com .

The Company’s fourth quarter and year-end earnings conference call and web cast presentation will be held on Thursday, February 25, 2010 beginning at 10:00 a.m. Eastern Time (8:00 a.m. Mountain Time).  To participate:

Dial-In Number	800.779.3178	
Intl Dial-In Number	415.228.4957	
Leader	John Seaberg	
Passcode	Newmont	
Replay Number	866.451.8896	
Intl Replay Number	203.369.1202	
Replay Passcode	2010	
 
The conference call also will be simultaneously carried on our web site at www.newmont.com under Investor Relations/Presentations and will be archived there for a limited time.
 
Investor Contacts	 	 	 	 	
John Seaberg	 	303.837.5743	 	john.seaber g@newmont.com	
 	 	 	 	 	
Media Contacts	 	 	 	 	
Omar Jabara	 	303.837.5114	 	omar.jabara@newmont.com  	
 
Cautionary Statement:

This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws.  Such forward-looking statements include, without limitation: (i) estimates of future mineral production and sales; (ii) estimates of future costs applicable to sales, other expenses and taxes, for specific operations and on a consolidated basis; (iii) estimates of future capital expenditures, construction, production or closure activities; (iv) statements regarding future exploration expenditures, results and reserves; (v) statements regarding fluctuations in capital and currency markets; (vi) statements regarding potential cost savings, productivity, operating performance, and cost structure; (vii) expectations regarding the ramp-up, mine life, production and costs applicable to sales and exploration potential of Boddington and the Company’s other projects; and (viii) expectations regarding the impacts of operating, technical or geotechnical issues in connection with the Company’s projects or operations.  Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis.  However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements.  Such risks include, but are not limited to, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, political and operational risks in the countries in which we operate, and governmental regulation and judicial outcomes.  For a more detailed discussion of such risks and other factors, see the Company’s 2009 Annual Report on Form 10-K, filed on February 25, 2010, with the Securities and Exchange Commission, as well as the Company’s other SEC filings.  The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

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