the inevitable downgrade, page-10

0052 GMT [Dow Jones] Rain affected Newcrest's (NCM.AU) production as expected
in the March quarter, says Credit Suisse, adding there was no surprise in the downgrade
by the company to its output guidance. Credit Suisse notes development of growth project
Cadia East and Lihir's expansion remain on schedule and budget. It has an Outperform
recommendation and A$42.50 target price. Newcrest shares are down 4% at A$26.50.

Had to do it, was going to wait but took a part position