Newmont Mining delivered on a long-promised strategy of rebuilding reserves Tuesday by picking off Miramar Mining for $1.5-billion. Newmont is feeling investor pressure to expand its precious metal property holdings after being overtaken by Barrick Gold as the largest player in the field. It's fair to knock Newmont for being overly dependent on mature Nevada mines. There have been low-level rumblings that Newmont might become a target itself, with Barrick as a buyer, if the perceived malaise persisted. In Miramar, Newmont is purchasing the undeveloped Hope Bay gold project in Nunavut. In taking on more debt than needed to do this deal, Denver-based Newmont is signalling it wants to keep moving aggressively on acquiring and developing properties. Newmont used Genuity Capital Markets as its financial adviser on this deal. Citigroup and JPMorgan were co-advisers, and also put up the capital that made the deal possible. Newmont added to its financial firepower by securing a new $1.3-billion (U.S.) debt commitment from JPMorgan and Citi that is added to $1.5-billion in an existing credit facility. On the legal front, Newmont used Toronto law firm Goodmans and New-York-based Wachtell Lipton, Rosen & Katz. Miramar looked to BMO Nesbitt Burns as its sole financial adviser. Gowling Lafleur Henderson and Dorsey & Whitney stepped up as legal advisers.