Filed by Newmont Mining Corporation
Pursuant to Rule 425 under the Securities Act of 1933
Subject Company: Battle Mountain Gold Company
Commission File No. 1-9666
Newmont
Gold Medal
Performance
[PHOTOGRAPH OF WAYNE W. MURDY, PRESIDENT]
Wayne W. Murdy -President
European Investor Tour
June, 2000
<PAGE>
Newmont Mining Corporation
North America's
Largest Gold Producer
World Class Assets
Low Cost Operations
Leader in Exploration and Technology
Basically Unhedged
$4 Billion Market Capitalization
Battle Mountain Acquisition Adds Value
<PAGE>
Newmont Mining Corporation
World-Class Core Assets
Indonesia
Nevada
Peru
[WORLD GLOBE GRAPHIC WITH
LANDSCAPE PHOTOGRAPHS OF INDONESIA, NEVADA AND PERU]
<PAGE>
Newmont Mining Corporation
Each of our
World-Class Assets
Embody Industry
Defining
Strengths
A Newmont Discovery
Low-cost operations
Long-Lived Assets
Infrastructure & technology in place
Large prospective land package
<PAGE>
Newmont Mining Corporation
Past Accomplishments
Future Success
Reserves
--------
Since 1994 Gold up 117%
1999 Gold 56.6 Million Ounces
Silver 183 Million Ounces
Copper 5.7 Billion Pounds
<PAGE>
Newmont Mining Corporation
Past Accomplishments
Future Success
Production
----------
Since 1994 Gold up 150%
1999 Gold 4.2 Million Ounces
2000 Outlook Gold 4.7 Million Ounces up 12%
Silver 875,000 Ounces
Copper 300 Million Pounds
<PAGE>
Newmont Mining Corporation
Past Accomplishments
Future Success
Costs
-----
Since 1994 Total Cash Costs
-15% to $175/oz
Total Production Costs
-14% to $227/oz
2000 Outlook Total Cash Costs
~$170/oz
Total Production Costs
~$225/oz
<PAGE>
Newmont Mining Corporation
Gold Medal
Performance
Philosophy - Driving Out Inefficiencies
Engaging the Workforce to Achieve Excellence
Global Exchange of Ideas
Expected Results
Improved Productivity
Lower Costs
Higher Cash Flow
<PAGE>
Newmont Mining Corporation
Superior Standing
Among Our Peers
[THREE BAR GRAPHS DEPICTING THE FOLLOWING DATA]
Highest Reserves Greatest Production Lowest Break-even
(ozs/share) (ozs/share) (Cost ($)/oz)
---------------- ------------------- -----------------
NEM = .34oz NEM = 0.028 NEM = 266
PDG = .20oz PDG = 0.009 ABX = 272
ABX = .15oz ABX = 0.009 HM = 287
HM = .08oz HM = 0.009 PDG = 305
Source: Merril Lynch
<PAGE>
Newmont Mining Corporation
Positioned to Deliver
Shareholder Value
[TWO BAR GRAPHS DEPICTING THE FOLLOWING DATA]
Least Hedged Fewest Shares Oustanding
(% 2000 Production) (Millions)
------------------- ------------------------
NEM = 3 NEM = 168
HM = 11 HM = 260
PDG = 38 PDG = 327
ABX = 100 ABX = 396
Source: Merrill Lynch
<PAGE>
Newmont Mining Corporation
Delivering Increased
Cash Flow
[THREE BAR GRAPHS DEPICTING THE FOLLOWING DATA]
1999
----
Cash Flow Realized Gold Price
($/Share) ($)
--------- --------------------
NEM 2.40 285
ABX 1.72 385
PDG 1.01 341
HM .45 290
2000 Cash Flow - $/Share
------------------------
@$285 Gold:
NEM 2.75 up 15%
2000 Cash Flow - $/Share
------------------------
$325 Gold:
NEM 3.75 up 55%
<PAGE>
Newmont Mining Corporation
Industry's Imperative
Gold Producers must take control of their own destiny by:
---------------------------------------------------------
Continued Cost Control
Greater Discipline in Investments and Hedging
Consolidation to Build Market Leadership
Putting Meaningful Resources Behind Marketing
[WORLD GOLD COUNCIL LOGO]
<PAGE>
Newmont Mining Corporation
Battle Mountain Acquisition
All Stock: 24.2 mm NEM Shares
Pooling of Interests
BMG Attributes NEM Post-Merger
-------------- ---------------
9.9mm ozs Reserves 66.5 mm ozs
760,000 ozs Low-Cost Annual Production 5.4 mm ozs
Highly Prospective Phoenix Project $30 mm Sustainable Cash Savings
in Nevada
Reduces Cash Costs to <$265/oz
<PAGE>
Newmont Mining Corporation
ENHANCING GLOBAL DIVERSITY
66.5 mm ozs of Gold Reserves in 8 Countries
[GLOBAL MAP GRAPHIC PINPOINTING THE FOLLOWING LOCATIONS AND DATA:]
NEM Properties
--------------
Newmont Nevada 28.0
Mesquite 0.5
La Herradura 0.7
Minera Yanacocha 16.9
Zarafshan 3.0
Minahasa 1.1
Batu Hijau 6.4
BMG Properties
--------------
Holloway 0.8
Phoenix 5.7
Kori Kollo 1.8
Golden Giant 1.7
Lihir
Vera/Nancy 0.4
<PAGE>
Newmont Mining Corporation
NEM & BMG Capital Structure
NEM BMG NEM Post-Merger
--- --- --------------
(3/31/00)
Total Debt $1,123 199 $1,322
Cash and Equivalents (91) (62) (153)
Lihir Market Value (6/00) (32) (32)
----- ---- -----
Net Debt $1,032 105 1,137
Minority Interest 137 6 143
Shareholder's Equity(1) 1,458 97 1,555
----- --- -----
Total Debt and Equity $2,627 $208 $2,835
====== ==== ======
Net Debt/Capital 39% 51% 40%
(1) Includes BMG Convertible Preferred Stock
<PAGE>
Newmont Mining Corporation
Nevada - Our Foundation
[PHOTOGRAPH OF MEVADA LANDSCAPE]
28 Million Ounces of Reserves
Production
1999 2.5 mm/ozs.
2000E 2.7 mm/ozs.
< $210/ounce Total Cash Costs
Unparalleled Flexibility
9 Open Pit & 5 Underground Mines
18 Processing Facilities
2 Million Acre Land Position
<PAGE>
Newmont Mining Corporation
Phoenix Project Location Map
[LOCATION MAP GRAPHIC IDENTIFYING NEWMONT CHECKERBOARD PROPERTY
AND NOTING LOCATION OF TWIN CREEKS, LONE TREE, TRENTON CANYON,
PHOENIX, DEEP POST, DEEP STAR, GOLD QUARRY AND MULE CANYON]
<PAGE>
Newmont Mining Corporation
Phoenix Production and Capital Statistics
Average Annual Production
Gold: 390,000 ozs
Silver: 1,350,000 ozs
Copper: 27,500,000 lbs
Average Cash Costs
$140/oz Initial Years
$150/oz 13 Years LOM
Capital Cost - $200 million
Construction July, 2001
Leach Production January, 2002
Mill Production January, 2003
<PAGE>
Newmont Mining Corporation
Other High Return Investments
Biomilling 650,000 - Ounce Project Over 4 Years
---------- 100,000 Ounces in 2000
Capital Cost $6 Million
Deep Post
---------
Underground 2.3 Million - Ounce Project Over 6 Years
----------- Initial Production 2Q 2001
Peak Annual Production 380,800 ozs. (2003-2006)
Capital Cost - $89 Million
<PAGE>
Newmont Mining Corporation
Minera Yanacocha, Peru:
Our Golden Growth
Story
[PHOTOGRAPH OF PERUVIAN LANDSCAPE]
51% owned
Reserves: 32.9 mm ozs.
Production
1999: 1.65 mm ozs. of Gold
2000E: 1.95 mm ozs. of Gold
1.70 mm ozs. of Silver
< $90/oz Total Cash Cost
4 Open-pit Mines,
2 Processing Facilities
<PAGE>
Newmont Mining Corporation
Yanacocha Exploration
[LOCATION MAP GRAPHIC IDENTIFYING YANACOCHA DISTRICT EXPLORATION
AND NOTING LOCATION AND DISTINCTION OF
(WITH FEW OUTLYING AND JOINT RESOURCES/PROJECTS/PROSPECTS):
MINE, RESERVE, RESOURCE:
MAQUI MAQUI
YANANOCHA
CHAQUICOCHA
SAN JOSE
LA QUINUA
EL TAPADO
CERRO QUILISH
CERRO NEGRO
PROJECTS OR PROSPECTS:
CARACHUGO
CERRO YANACOCHA
QUECHER
KUPFERTAL
CHUGARES ]
<PAGE>
Newmont Mining Corporation
Evidence of Success
Yanacocha Total Ounces Discovered
--------- Reserves 32.9 mm ozs.
Exploration Resources 10.2 mm ozs.
----------- Depletion 8.4 mm ozs.
------------
51.5 mm ozs.
Exploration Expenditure Since Inception - $74 mm
Discovery Cost $1.44 oz.
Capex Through y/e 1999 $480 mm
----- 2000E 200 mm
------
TOTAL $680 mm
Capital Cost $13.20/Mineable Ounces
<PAGE>
Newmont Mining Corporation
Batu Hijau Mine
for the 21st
Century
[Photograph of Shoreline]
56.25% Economic Interest
Reserves 10.5 B lbs. Copper
11.8 mm ozs. Gold
<PAGE>
Newmont Mining Corporation
[Photograph of Batu Hijau Port and Powerplant]
Batu Hijau Port and Powerplant
[Map of South Pacific region]
<PAGE>
Newmont Mining Corporation
Batu Hijau Potential
2000E
-----
Production 540 mm lbs. Copper
325,000 ozs. Gold
Total Cash Costs ~$0.55/lb. Copper
Life of Mine
------------
Annual Production 600 mm lbs. Copper
480,000 ozs. Gold
Total Cash Costs <$0.50/lb. Copper
<PAGE>
Newmont Mining Corporation
[LINE X-Y CHART DEPICTING THE FOLLOWING DATA:
X representing years from 1980 to 2020 and
Y representing metric tons from 1000 to 8000]
Widening Supply / Demand
Gap
1980 - 1990 Supply increase of 7.3%
Demand increase of 9.8%
Avg. gold price $419
1990 - 2000 Supply increase of 2.7%
Demand increase of 3.5%
Avg. gold price $350
2000 - 2020 Supply increase of 1.75%
Demand increase of 2.75%
Avg. gold price ??
[Line-graph chart shows compound growth rates of demand and supply, as measured
by time period of years against metric tons measured. It shows that demand has
exceeded supply since the late 1980's and shows the widening gap between the
two.]
<PAGE>
Newmont Mining Corporation
Greatest Leverage
to Rising Prices
[TWO BAR GRAPHS DEPICTING THE FOLLOWING DATA]
Greatest Leverage
to Rising Prices
EPS Leverage/
$50 Change in Gold Price
------------------------
NEM = $0.85
HM = $0.20
PDG = $0.15
ABX = $0.10
* No Leverage Below $319/oz Calculation Assumes Increase from $285 Spot Price
Source: Merrill Lynch
<PAGE>
Newmont Mining Corporation
Other Outstanding Performance
2000 Outlook
------------
Minahasa Production 350,000 ozs.
--------
100% Total Cash Cost $115/oz.
----
Economic Interest Local Tax Dispute Settled
-----------------
Zarafshan Production 425,000 ozs.
---------
50% Total Cash Cost $150/oz
---
Government Agreement on High Grade Ore
Extends Project Life 10 Years
<PAGE>
Newmont Mining Corporation
Canadian Properties
Gold Reserves 2.5 mm ozs
E2000 Production 425,000 ozs
E2000 Total Cash Cost $165/oz
[Photograph of Golden Giant Property]
Golden Giant - 100% owned
[Photograph of Holloway Property]
Holloway - 85% owned
<PAGE>
Newmont Mining Corporation
Bolivian Property
Gold Reserves 1.3 mm ozs
E2000 Production 225,000 ozs
E2000 Total Cash Cost $215/oz
[Photograph of Bolivian property]
Kori Kollo - 88% owned
<PAGE>
Newmont Mining Corportion
Australian / Southeast Asian
Properties
Vera/Nancy
----------
Gold Reserves 440,000 ozs
E2000 Production 115,000 ozs
E2000 Total Cash Cost $120/oz
Lihir
-----
9.7% Interest
[Photograph of Vera/Nancy property]
Vera/Nancy - 50% owned
<PAGE>
Newmont Mining Corportion
PRIVATE SECURITIES LITIGATION REFORM ACT SAFE HARBOR STATEMENT
THESE MATERIALS INCLUDE FORWARD-LOOKING INFORMATION AND STATEMENTS ABOUT NEWMONT
MINING CORPORATION, BATTLE MOUNTAIN GOLD COMPANY AND THE COMBINED COMPANY AFTER
COMPLETION OF THE TRANSACTION THAT ARE INTENDED TO BE COVERED BY THE SAFE HARBOR
FOR "FORWARD-LOOKING STATEMENTS" PROVIDED BY THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995. FORWARD-LOOKING STATEMENTS ARE STATEMENTS THAT ARE NOT
HISTORICAL FACTS. THESE STATEMENTS INCLUDE FINANCIAL PROJECTIONS AND ESTIMATES
AND THEIR UNDERLYING ASSUMPTIONS; STATEMENTS REGARDING PLANS, OBJECTIVES AND
EXPECTATIONS WITH RESPECT TO FUTURE OPERATIONS, PRODUCTS AND SERVICES; AND
STATEMENTS REGARDING FUTURE PERFORMANCE. FORWARD-LOOKING STATEMENTS ARE
GENERALLY IDENTIFIED BY THE WORDS "EXPECT," "ANTICIPATES," "BELIEVES,"
"INTENDS," "ESTIMATES" AND SIMILAR EXPRESSIONS. THE FORWARD-LOOKING INFORMATION
AND STATEMENTS IN THESE MATERIALS ARE SUBJECT TO VARIOUS RISKS AND
UNCERTAINTIES, MANY OF WHICH ARE DIFFICULT TO PREDICT AND GENERALLY BEYOND THE
CONTROL OF NEWMONT AND BATTLE MOUNTAIN, THAT COULD CAUSE ACTUAL RESULTS TO
DIFFER MATERIALLY FROM THOSE EXPRESSED IN, OR IMPLIED OR PROJECTED BY, THE
FORWARD-LOOKING INFORMATION AND STATEMENTS. THESE RISKS AND UNCERTAINTIES
INCLUDE THOSE DISCUSSED OR IDENTIFIED IN THE PUBLIC FILINGS WITH THE U.S.
SECURITIES AND EXCHANGE COMMISSION (SEC) MADE BY NEWMONT AND BATTLE MOUNTAIN;
RISKS AND UNCERTAINTIES WITH RESPECT TO THE PARTIES' EXPECTATIONS REGARDING THE
TIMING, COMPLETION AND ACCOUNTING AND TAX TREATMENT OF THE MERGER, THE VALUE OF
THE MERGER CONSIDERATION, PRODUCTION AND DEVELOPMENT OPPORTUNITIES, CONDUCTING
WORLDWIDE OPERATIONS, EARNINGS ACCRETION, COST SAVINGS, REVENUE ENHANCEMENTS,
SYNERGIES AND OTHER BENEFITS ANTICIPATED FROM THE TRANSACTION; AND THE EFFECT OF
GOLD PRICE AND FOREIGN EXCHANGE RATE FLUCTUATIONS, AND GENERAL ECONOMIC
CONDITIONS SUCH AS CHANGES IN INTEREST RATES AND THE PERFORMANCE OF THE
FINANCIAL MARKETS, CHANGES IN DOMESTIC AND FOREIGN LAWS, REGULATIONS AND TAXES,
CHANGES IN COMPETITION AND PRICING ENVIRONMENTS, THE OCCURRENCE OF SIGNIFICANT
NATURAL DISASTERS, CIVIL UNREST AND GENERAL MARKET AND INDUSTRY CONDITIONS.
<PAGE>
Newmont Mining Corportion
ADDITIONAL INFORMATION
INFORMATION REGARDING THE IDENTITY OF THE PERSONS WHO MAY, UNDER SEC RULES, BE
DEEMED TO BE PARTICIPANTS IN THE SOLICITATION OF STOCKHOLDERS OF BATTLE MOUNTAIN
IN CONNECTION WITH THE PROPOSED MERGER, AND THEIR INTERESTS IN THE SOLICITATION,
ARE SET FORTH IN A SCHEDULE 14A FILED ON THE DATE OF THESE MATERIALS WITH THE
SEC. NEWMONT AND BATTLE MOUNTAIN WILL BE FILING A PROXY STATEMENT/PROSPECTUS AND
OTHER RELEVANT DOCUMENTS CONCERNING THE PROPOSED TRANSACTION WITH THE SEC.
INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES
AVAILABLE AND ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC BECAUSE THEY WILL
CONTAIN IMPORTANT INFORMATION ON THE PROPOSED TRANSACTION. INVESTORS WILL BE
ABLE TO OBTAIN THE DOCUMENTS FREE OF CHARGE AT THE SEC'S WEBSITE (WWW.SEC.GOV).
IN ADDITION, DOCUMENTS FILED WITH THE SEC BY NEWMONT MAY BE OBTAINED FREE OF
CHARGE BY CONTACTING NEWMONT MINING CORPORATION, 1700 LINCOLN STREET, DENVER, CO
80203, (303) 863-7414. DOCUMENTS FILED WITH THE SEC BY BATTLE MOUNTAIN WILL BE
AVAILABLE FREE OF CHARGE BY CONTACTING BATTLE MOUNTAIN GOLD COMPANY, 333 CLAY
STREET, 42ND FLOOR, HOUSTON, TEXAS 77002, (713) 650-6400. INVESTORS SHOULD READ
THE PROXY STATEMENT/PROSPECTUS CAREFULLY WHEN IT BECOMES AVAILABLE BEFORE MAKING
ANY VOTING OR INVESTMENT DECISION.
<PAGE>
Newmont Mining Corportion
Other Outstanding Performance
2000 Outlook
------------
Minahasa Production 350,000 ozs.
--------
100% Total Cash Cost $115/oz
----
Economic Interest Local Tax Dispute Settled
-----------------
Zarafshan Production 425,000 ozs.
---------
50% Total Cash Cost $150/oz
--_
Government Agreement on High Grade Ore
Extends Project life 10 years
