NCM is flirting with that all important $10 barrier.
Today, towards the close, could see the push through.
If not then, it will be very soon.
NCM has exhibited surprising strength of late. Big positions are being taken in the stock which is either /or :
1. A pre-cursor to a breakout of the POG
2. A prelude to a corporate play for NCM
Alternatively, it could just be smart money getting in before massive profits from the Tefler operation come on stream. And those profits, in the context of a secular bull market in gold, have probably been significantly underestimated.
All up, Newcrest is our premier gold stock and its movements act as a bellweather for the entire gold sector.
And that "bell" has a very positive ring to it right now.
NCM Price at posting:
0.0¢ Sentiment: None Disclosure: Held
