The Newcrest Mining Ltd (ASX: NCM) share price is up 1.2% in late morning trade on Tuesday.
Shares in the S&P/ASX 200 Index (ASX: XJO) gold stock closed yesterday trading for $26.86. At time of writing, shares are swapping hands for $27.18 apiece.
For some context, the ASX 200 is up 0.9% at this same time.
Here's what's drawing investor interest today.
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What did the ASX 200 gold miner report?
The Newcrest share price is well into the green today following the release of the ASX 200 gold miner's quarterly update.
Among the highlights of the three-month period, Newcrest shareholders widely voted in favour of United States-based Newmont Corporation's (NYSE: NEM) acquisition of 100% of Newcrest's shares by way of a scheme of arrangement.
With Newmont confirming that all required government regulatory approvals have been obtained, Newcrest said it will now seek approval from the Federal Court of Australia today, 17 October.
Should the court green light the deal, management expects it will become effective tomorrow, on 18 October. That will see the Newcrest share price frozen once shares are suspended from trading on the ASX at the close of trading on 26 October.
Management expects the implementation of the scheme to occur on 6 November.
As a sweetener for shareholders, the Newcrest board decided to pay a fully franked special dividend of US$1.10 per Newcrest share. Investors not yet holding shares and looking to bank that dividend will need to be quick, as the ASX 200 gold stock trades ex-dividend tomorrow.
What else happened during the quarter?
Over the three-month period, Newcrest reported gold production of 454,000 ounces. Copper production came in at 31,000 tonnes.
The All-In Sustaining Cost (AISC) for the gold produced was $1,397 per ounce. That delivered an AISC margin of $470 per ounce.
Gold production was 18% lower than the prior period, which came amid planned maintenance shutdowns during the quarter. Newcrest said this was consistent with prior years.
Newcrest interim CEO Sherry Duhe commented:
On behalf of the board and management team I would like to extend our sincere thanks to all our stakeholders for their outstanding contributions to the success of Newcrest.
Leading the Newcrest team has been a great privilege, and as the next chapter of Newcrest's story unfolds, I very much look forward to seeing the growth and development of our world-class portfolio of gold and copper assets as part of the combined group.
Newcrest share price snapshot
The Newcrest share price has been a strong performer over the past 12 months, up 60%.
