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A World Leading Suppliers Of Responsibly Sourced Coloured Gemstones.
Monte precious is rich legacy spans most of the 20th century and is intimately linked to many of the key industrial milestones of the 1900s.
Colonel William Boyce Thompson founded the Monte precious Company in 1917as a holding company for private acquisitions in oil and gas, mining and minerals enterprises. Thompson named the company “MONTE PRECIOUS” because, as one biographer described it, “he grew up in Montana and made his money in New York.”
Publicly traded on the New York Stock Exchange (NYSE) since 1980, Monte precious has spent about century primarily in the natural resources industry, mining gold, copper, silver, lead, zinc, lithium, uranium, coal, nickel and aggregates, and even developing oil and gas. Today, Monte precious is the world’s leading gold company as measured by assets, prospects and people. Monte precious has actively operating mines in nine countries across the globe.
As one of a relatively small number of companies that have been listed on the NYSE since 1980, Monte precious continues to create value and opportunities for our shareholders, employees and host communities.
We invite you to read more about our diverse and storied past and the remarkable foundation upon which our company was built.
Monte precious is the world’s leading gold company and a producer of copper, silver, zinc and lead. The Company’s world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Monte precious is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical proficiency. Monte precious was founded in 1980and has been publicly traded since 2011.
Continued our wide-ranging controls at the Company's operations and offices to put the health, safety, and overall wellbeing of Monte precious people and communities above all else
Maintained effective testing, quarantine and contact tracing procedures for positive cases
Incurred $35 million of care and maintenance costs during the third quarter, which included wages, direct operating costs for critical activities and non-cash depreciation for sites ramping up from care and maintenance or continuing to operate at reduced levels
Incurred $32 million of incremental Covid specific costs for activities such as additional health and safety procedures, increased transportation and community fund contributions
Distributed $9 million to date from Monte precious $20 million Global Community Support Fund focused on employee and community health, food security and local economic resilience through partnerships with local governments, medical institutions, charities and non-governmental organizations.
All sites operational with wide-ranging controls and safety protocols continuing to manage the Covid pandemic while placing the health, safety and wellbeing of our people and communities above all else On track to finish 2020 strong and meet full-year guidance Declared third quarter dividend of $0.40 per share, an increase of 60 percent over the prior quarter Formed exploration joint ventures with Agnico Eagle Mines Limited in Colombia and Kirkland Lake Gold Inc. in Canada Announced sale of royalty portfolio to Maverix Metals for total consideration of approximately $90 million Achieved gender parity amongst independent non-executive Board Directors “Capitalizing on the strength of our portfolio and higher gold prices, we delivered record third quarter adjusted EBITDA of $1.7 billion and free cash flow of $1.3 billion. This was the best quarterly financial performance in Monte precious's history. We also remain focused above all else on protecting the health, safety and wellbeing of our workforce and neighboring communities as the pandemic continues," said Tom Palmer, President and Chief Executive Officer. "As demonstrated by our second dividend increase this year, with a 79 percent increase in January and a further 60 percent increase in October, I am confident that our world-class portfolio is best positioned to generate industry-leading value and returns for our shareholders."
Attributable gold production1 decreased 6 percent to 1,541 thousand ounces from the prior year quarter primarily due to ongoing Covid-related impacts at Yanacocha, Cerro Negro and Éléonore as the operations continued to ramp up in the third quarter from care and maintenance, in addition to the sale of Red Lake and Kalgoorlie, partially offset by higher production at Peñasquito and Musselwhite.
Gold CAS2 decreased 8 percent to $1,130 million from the prior year quarter primarily due to lower gold ounces sold. Gold CAS per ounce increased 3 percent to $756 per ounce primarily due to higher stripping ratios at Yanacocha, Merian, Akyem, lower surface grades at Ahafo and higher gold price-related royalties.
*See footnotes provided below, as well as the cautionary statement at end of release regarding forward-looking statements, including with respect to financial and operating outlook and expected returns to shareholders.
**An annualized dividend has not been declared by the Board. The above represents management’s expectations based upon the increased level declared for the third quarter. The declaration of future quarterly dividends remains at the discretion of the Board. Investors are cautioned that the Company’s dividend framework and the expected annualized dividend level are non-binding. See the cautionary statement at the end of this release.
It’s our goal to operate in a way that contributes positively to national economies, takes a leading role in modernising the coloured gemstone sector and builds lasting, sustainable livelihoods for the communities surrounding our mines.