Well there you go, notice on 602 that ncm is cutting cutting more jobs at telfer, as stated above the costs are huge there and it's the second ranked production profile of the company and represents a big chunk of annual production.....
Regardless of price changes on gold headline today, still zero yield with cash flow when positive to go to debt, aud rising taking the shine off gold price
Perennial investments sells its 100. M stake for a rumored 40 m say to the effect that their valuations was lower than ten as they don't think management can manage the cash flow, others will follow as perennial are not a small player
Perennial's stake in Newcrest had been worth about $100 million in November, according to The Australian, but was reportedly only worth about $40 million when it sold the stake.
“We are no longer confident that the company can grow cashflows from current levels,” Perennial growth funds manager Lee Mickelburough told investors, according to The Australian.
“Our valuation for Newcrest has fallen considerably below $10 and hence we sold out of our position during the month (of June).”
Anyhoo
Gold price headline great this morning but aud gold not as good as aud off 90 cents the other day and now approaching 93
Problem we all have now is that OIL is on track to shock us all, now we need aud up significantly with oil here, otherwise gold price lif good, oil price spike bad fakery away,,,,,,,,margins not good for any energy intensive business with oil prices here and going higher
They are calling for interest rate cuts here to stimulate can they afford to save the housing belt but belt everyone else with rapidly rising interest rates? Big problem IMO for oz economy here and the rba,,,, spiking oil is never good for business that is suffering low growth environment,,,
Trade safe, on iPhone so hard to see and edit sorry
Have a good one
NCM Price at posting:
$9.95 Sentiment: Hold Disclosure: Held
