Normandy 06 - Panel Declines Application for Review of Normandy 04 Decision

The Panel advises that it has today declined to make a declaration of unacceptable circumstances or orders in relation to the application by AngloGold for review of the Normandy 04 Panel's decision. In its application, AngloGold submitted that Newmont had agreed to give more to Franco-Nevada for its 19.9% holding in Normandy than it proposes to offer to Normandy shareholders under its bid for Normandy, because the acquisition of the 19.9% parcel is tied to a proposed merger between Newmont and Franco-Nevada.