Newmont Corporation

Geology score 61/100 is based on grade 1.05 g/t and tonnage 4060 Mt (proven-and-probable). The reserve classification weights the result. Score 61/100.

Capital score 85/100 is based on cash of USD 3025m vs. debt of USD 8930m, burn rate USD -480m per quarter. Score 85/100.

Management score 57/100 is based on CEO tenure of 5 years, insider holding 0.3%, board independence 0.9. Score 57/100.

Jurisdiction score 88/100 is based on Fraser policy perception index 70.4, country tier tier-1, 11 jurisdiction(s). Score 88/100.

Newmont operates firmly at the **production** stage ¹, reflecting a fully operational, revenue-generating portfolio of world-class mines including Boddington, Cadia, Lihir, Peñasquito, and Ahafo ¹ — the strongest possible lifecycle position for a mining company, eliminating exploration and development risk entirely. On the negative side, a fully mature producing portfolio inherently offers less optionality for transformative resource upside compared to companies with significant earlier-stage assets still advancing toward production. Score 95/100. ¹: Newmont 10-K 2024 + 2026 disclosures — diversified producing portfolio post-Newcrest integration; Boddington, Cadia, Lihir, Peñasquito, Ahafo, etc.

Newmont's permitting profile is essentially flawless: all operating permits are fully secured across the portfolio ¹, eliminating a common source of project-delay risk for mining companies. On the positive side, the company operates predominantly in tier-1 jurisdictions characterised by stable, predictable permitting timelines ¹, which materially reduces regulatory uncertainty for near-term and longer-dated projects alike. On the negative side, this perfect snapshot reflects current status only, and any future regulatory shifts — even in historically stable jurisdictions — could alter the outlook without immediate warning. Score 100/100. ¹: Newmont 2024-2026 disclosures — operating permits all secured; predominantly tier-1 jurisdictions with stable permitting timelines.

Newmont presents a well-stocked near-term catalyst calendar, with approximately 6 material catalysts expected over the next twelve months ¹, spanning integration milestones from the Newcrest acquisition, divestiture proceeds from non-core asset sales such as Telfer and Akyem, quarterly results, and post-Newcrest consolidation — the highest-impact category being a resource-update ¹, which could materially re-rate the stock. On the negative side, the concentration of catalysts around a single integration cycle means execution risk is elevated; any delay in divestiture closings or resource-update timelines could defer the anticipated value crystallisation. Score 80/100.

Newmont's promotional risk profile is notably low, supported by a high substance ratio of 0.9 across its approximately 20 annual press releases ¹, indicating that communications are driven by meaningful operational and integration milestones rather than hype. On the less favorable side, insider selling stands at 0.03 — a modest but non-zero figure worth monitoring over time ². CEO Tom Palmer carries no documented promotional history ¹, and the company's blue-chip institutional issuer status further anchors credibility. Taken together, the communications framework reflects disciplined, substantive disclosure practices with minimal speculative signaling. Score 11/100. ¹: Newmont investor disclosures — blue-chip institutional issuer; high PR volume (~20/yr) with very high substance ratio (quarterly + integration milestones); CEO Tom Palmer reputable industry executive (no documented promotional history). ²: Newmont investor disclosures — insider selling ~3%.