Newmont Corporation

Notable vs. Peers

• All-in sustaining cost of $1,621/oz is 17% lower than the peer producer average of $1,960/oz.
• Trading within 7% of its 52-week high — strong recent price momentum.

Lifecycle Milestones

1. Permit granted

   Reached — date not disclosed · Newmont operates 12 managed mines across multiple jurisdictions, each permitted separately over decades; no single company-wide permit date exists. Row presence documents that Newmont's currently-producing mines are, by definition, permitted -- see technicalReportNote/description for the multi-mine structure this single milestone table cannot fully capture. · Source
2. Construction decision (FID)

   Reached — date not disclosed · Same multi-mine caveat as PERMIT_GRANTED above -- no single construction-decision date represents a 12-mine portfolio built up over a century plus the 2019 Goldcorp and 2023 Newcrest combinations. · Source
3. Construction start

   Jan 2022 · Anchored to Ahafo North (Ghana), Newmont's most recent major build, which entered construction in 2022 ahead of its 2025 ramp-up -- the best-documented recent construction event in the current portfolio, not a company-wide date. · Source
4. First pour / production

   Jan 2025 · Ahafo North achieved first production in 2025 and was in continued ramp-up per Newmont's 2026 guidance -- confirms current production status for at least one mine; the company overall has been in continuous production since long before this date. · Source
5. Commercial production

   Reached — date not disclosed · Genuinely reached, but no single company-wide commercial-production date exists across a multi-decade, multi-mine global portfolio (Boddington, Cadia, Lihir, Yanacocha, Tanami, Penasquito, Ahafo, Akyem, Cerro Negro, Merian, etc.) assembled organically and via mergers (Goldcorp 2019, Newcrest 2023) -- each asset reached commercial production independently. Newmont reported Q2 2026 attributable gold production of approximately 1.3 million ounces, confirming ongoing commercial gold production; it is the world's largest gold producer by output and the only gold miner in the S&P 500. This row was missing entirely prior to 2026-08-21 -- a genuine data gap (row presence is the signal per this model's doc comment), not a stage error; Miner.stage was already correctly PRODUCTION. Same pattern as AEM and the other five gap tickers fixed in this same batch (ABX, AGI, EQX, BTG, AAUC). · Source

Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.

A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal the underlying research identifies — whether a major already holds a JV, earn-in, or 5–19.9% strategic stake — isn't tracked yet and is absent from this score.