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Newmont Mining Corporation NYSE: NEM



Company: Newmont Mining Corporation
Ticker Symbol: NYSE: NEM
Class Period: July 28, 2004 to April 26, 2005
Date Filed: Jun-09-05
Lead Plaintiff Deadline: Aug-08-05
Court: District, CO
Allegations:
A lawsuit seeking class action status has been filed in the United States District Court for the District of Colorado on behalf of all persons who purchased the publicly traded securities of Newmont Mining Corporation (NYSE: NEM) ("Newmont" or the "Company") between July 28, 2004 and April 26, 2005, inclusive (the "Class Period").

The Complaint alleges that Newmont, a gold producer, and certain of its officers and directors violated federal securities laws. Specifically, defendants knew, but concealed the following:(i) Newmont had been processing only stockpiled low-grade ore at certain mines, which costs more to process; (ii) Newmont's costs for commodities used in mining had increased, increasing total production costs; (iii) the amount of copper and gold Newmont stated it could extract in 2005 was overstated; and (iv) as a result of operating difficulties in Q1 2005, Newmont's cash generation had declined by 50% and its exploration costs would significantly increase.

On April 26, 2005 Newmont announced that the Company's Q1 2005 earnings would fall short by two-thirds of what analysts had been expecting based on the Company's frequent guidance and investor presentations. Unbeknownst to investors, Newmont's Peruvian, Indonesian, Australian and New Zealand mines had grossly underperformed. On this news, Newmont's stock dropped from its April 26, 2005 closing price of $40.25 per share to less than $38 per share on April 27, 2005. Before the truth about Newmont's operational and financial difficulties was disclosed, Newmont was able to place over $600 million worth of notes in March 2005.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.


If you feel you qualify for damages or remedies that might be awarded in this class action please fill in our form on the right to submit your complaint.

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