After a fourth quarter result that was 13.7% ahead of our expectations, we expect Newmont’s financial performance to be restrained in the first two quarters of FY22, principally as a result of lingering constraints owing to the coronavirus pandemic. However, we believe that it will then pick up again strongly and, at current gold prices, we have therefore upgraded our FY22 basic adjusted net EPS forecast by 7.8% (Exhibit 6).
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