On Wednesday, in the course of current trade, Shares of Newmont Mining Corporation (NYSE:NEM), dropped -3.07%, and is now trading at $23.66.
Newmont Mining Corporation, declared that it has agreed to sell 29,000,000 shares of its common stock to Citigroup and J.P. Morgan, each of which will act as underwriters for the offering, for total gross proceeds of about $682 million. The Company intends to use the proceeds from this offering, supplemented with cash from the Company’s balance sheet, to fund the acquisition from AngloGold Ashanti Limited of the Cripple Creek & Victor mine in Colorado (the “CC&V Acquisition”). Until the CC&V Acquisition is accomplished, the Company intends to place the proceeds from this offering in short-term liquid investments.
The CC&V Acquisition represents a value-accretive opportunity to improve mine life, cost, and free cash flow in a favorable jurisdiction. The Company also remains committed to prudently strengthening its balance sheet and developing its most profitable development projects.
Subject to customary conditions, the offering is predictable to close on June 15, 2015. The offering is being made following the Company’s shelf registration statement filed with the Securities and Exchange Commission.
Newmont Mining Corporation operates in the mining industry. It primarily acquires, develops, explores for, and produces gold, copper, and silver deposits. The company’s operations and/or assets are located in the United States, Australia, Peru, Indonesia, Ghana, and New Zealand.
During an Afternoon trade, Shares of LightPath Technologies, Inc. (NASDAQ:LPTH), dipped -5.52%, and is now trading at $1.71.
LightPath Technologies, declared that its Infrared (“IR”) 40 degree Field of View (“FOV”) molded optical lens assembly has been selected for use in the manufacture of firefighting thermal imaging cameras by a leading supplier of integrated products and technologies for defense departments and federal, state and municipal government agencies worldwide.
Based on a report published in December 2014 by the National Institute of Standards and Technology, a division of the Technology Administration of the U.S. Department of Commerce, there is raised attention being given to thermal imaging research needs in an effort to support fire fighters, among other first responders. LightPath’s thermal imaging IR product line enables the advancement of firefighting technologies and supports a key objective of reducing line-of-service deaths and burn injuries. The report cites the need for creating an information rich environment for greater situational awareness, which may be attained by incorporating the precision and accuracy accessible through LightPath’s molded IR optics.
According to Maxtec International, Inc., a market research firm covering the infrared and thermal imaging industries, the Uncooled Thermography market in 2014 was $582 million and the demand for thermal imagers has been growing. There are over 5 million fire fighters worldwide. In the U.S., there are 1.1 million firefighters and more than 35,000 fire departments that respond to nearly 2,000,000 fires every year, according to the National Fire Data Center.
LightPath Technologies, Inc. designs, develops, manufactures, and distributes optical components and assemblies. The company provides precision molded glass aspheric optics, proprietary high performance fiber-optic collimators, GRADIUM glass lenses, and other optical materials used to produce products that manipulate light.
Finally, Southern Company (NYSE:SO), gained 0.02% Wednesday.
Georgia Power declared that Sloane Evans has been elected by its board of directors to lead the company’s Human Resources (HR) organization. In her new role, Evans will oversee Georgia Power’s health and wellness, talent administration, labor relations and HR delivery functions. She succeeds Leonard Owens who is retiring after more than 35 years with the company.
“Sloane’s experience and leadership has assisted elevate our talent development process to a new level,” said Paul Bowers, chairman, president and CEO of Georgia Power. “She has a clear understanding of the talent and skills we need from both employees and managers to ensure Georgia Power continues to deliver world-class value to our customers.”
Evans brings more than 14 years of experience with Southern Company to her new position at Georgia Power. Previous roles at Southern Company comprise director of HR, in addition to the dual role as assistant to the vice president of HR and talent manager. In these roles, she supported planned initiatives across all areas of the organization and led the development of solutions to enhance leadership and employee development, in addition to diversity and inclusion. She also led the team responsible for staffing and HR delivery for Plant Vogtle Units 3 and 4, the largest job-producing project in the state.
Evans holds a bachelor’s in psychology from the University of Georgia. Active in the community, Evans serves on the board of directors for Chattahoochee Technical College and Nobis Works, formerly the Tommy Nobis Center.
The Southern Company, together with its auxiliaries, operates as a public electric utility company. It is involved in the generation, transmission, and distribution of electricity through coal, nuclear, oil and gas, and hydro resources in the states of Alabama, Georgia, Florida, and Mississippi.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should might occur.
