February 22, 2019 / 5:24 PM / 3 months ago

CORRECTED-BUZZ-Newcrest ADRs rise on report miner considering taking over Newmont's Australia mines

(Corrects spelling of company name in headline)

** ADRs of ASX-listed gold miner Newcrest Mining up 2 pct at $18.17

** Canada’s Barrick Gold Corp confirms it is considering an all-stock bid for rival Newmont Mining Corp

** ABX considering $19 bln hostile bid for NEM and Barrick would flip some of NEM’s assets to Newcrest - Globe and Mail

** Newcrest considering taking over Newmont’s Australian mines - Globe and Mail

** Newcrest says it does not comment on M&A speculation

** NEM’s three gold mines in Australia have a net present value of $4.5 bln, according to engineering consultancy AME Group, but none are seen as the sort of large ‘tier one’ developments that Newcrest has said are a prerequisite for any major buys

** Including session moves, Newcrest ADRs have risen ~16.4 pct this year, aided by a 3.8 pct rise in gold prices (Reporting by Aaron Saldanha in Bengaluru)

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