Newmont Plans 29 Mln. Stock Offering

(RTTNews) - Newmont Mining Corp (NEM) on Monday said it plans to offer 29 million shares of its common stock through a registered public offering.

In connection with the offering, Newmont has granted the underwriters a 30-day option to purchase up to an additional 4.35 million share.

The company said it plans to use the net proceeds from the offering to fund the acquisition from AngloGold Ashanti Ltd of the Cripple Creek and Victor mine in Colorado, supplemented with cash from the company's balance sheet. Until the acquisition is completed, the company intends to place the net proceeds from this offering in short-term liquid investments.