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BHP agrees to sell its Kambalda Nickel Concentrator to Gold Fields as it restructures its Western Australia nickel business, with remaining asset decisions due by February 2027.
Gold Fields NYSE: GFI CEO Mike Fraser said the gold producer is pursuing a proposed combination with Northern Star while maintaining that its standalone portfolio offers a fully funded path to production growth, cash generation and shareholder returns.
I reiterate a Strong Buy on Gold Fields as Salares Norte has exceeded expectations, becoming a dominant high-margin cash engine. GFI's balance sheet is robust, with net debt at $437 million (0.06x adjusted EBITDA) and increased shareholder returns to $1.25 billion. Group production guidance remains 2.4–2.6 Moz, with AISC at $1,800–$2,000/oz and capex reduced to $1.6–$1.8 billion.
What happened Gold Fields Limited (NYSE: GFI) put an acquisition proposal into public view on Monday, forcing investors to price new financing and dilution risk. Gold Fields Limited (NYSE: GFI) ADRs traded at $35.52 at 1:06 p.m. ET, down 12.04% from the prior close, according to Nasdaq. The drop followed the bid disclosure and rejection,
U.S. stock futures were lower this morning, with the Dow futures falling around 200 points on Monday.
Australia's top gold producer Northern Star Resources said it rejected an unsolicited A$38.7 billion ($27.1 billion) takeover proposal from South Africa's Gold Fields , the latest sign of consolidation pressure in the gold sector.
Northern Star Resources rejected the takeover proposal saying it was highly opportunistic and materially undervalued the company.
Shares in Northern Star Resources Ltd (ASX:NST) surged nearly 11% to $24.46 after the gold producer rejected what it described as a “highly opportunistic” takeover approach from South Africa's Gold Fields. Northern Star said it received and rejected the indicative proposal on September 14, arguing the offer materially undervalued the company and failed to reflect the fundamental value of its asset base and growth profile.