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Levi Spry

Mining Analyst at UBS

Levi Spry is a Mining Analyst at UBS, specializing in the mining sector with a focus on gold miners and copper producers. He covers companies including Northern Star, Perseus Mining, Genesis Minerals, Ramelius Resources, Regis Resources, Vault Minerals, Bellevue Gold, Chalice Mining, Capstone Copper, and Newmont, recently upgrading gold price forecasts significantly with a June 2026 peak at $US4750 per ounce and lifting price targets by 5 to 14 percent for select miners. Previously a Mining Analyst at JP Morgan, Spry has transitioned to UBS where he provides research from Australia, contributing to UBS's bullish outlook on gold amid global uncertainties. His professional credentials include coverage roles recognized by multiple mining firms, though specific FINRA registrations or licenses are not detailed publicly.

Levi Spry's questions to NEWMONT Corp /DE/ (NEM) leadership

Question · Q4 2025

Levi Spry asked about the current operational status of Tanami following a recent fatality, specifically if it is operating and when it is expected to return to full capacity, and what is included in the guidance for this year and next.

Answer

Natascha Viljoen, President and CEO, Newmont, clarified that the operational side of Tanami resumed within four days of the incident, with underground ventilation development also back to normal. Work on the shaft infrastructure was paused but will restart after the internal investigation. Normal production is included in the guidance.

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Question · Q4 2025

Levi Spry asked for an update on the current operational status of Tanami, what is included in the guidance for this year and next, and specifically how the recent fatality has impacted operations and the timeline for resuming shaft infrastructure work.

Answer

Natascha Viljoen, President and CEO of Newmont, clarified that the operational side of Tanami resumed within four days of the incident. While all work on shaft infrastructure was temporarily halted, development for underground ventilation infrastructure is back to normal. She stated that shaft infrastructure work will restart once the internal investigation is complete and the root cause is understood. Normal production at Tanami is included in the company's guidance.

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