spot gold below 1300, page-63

From a business point of view it is wiser to have your debt in the same currency you receive for your production. To have it in other curtrencies turns you into a currency speculator as well as a miner. Best in bad times to stick to what you do best. If your different currency play goes against you..... asta la vista baby. I know some that has happened to. Roosters turned into feather dusters. Not funny at all.

All the big gold miners are naturally experiencing heavy weather at the moment. It isnt going away tomorrow, but NCM share price basically reflects the gold price. But with a multiplier on it like all the big golds.
Some of the big miners have big holdings in Indonesia.

That is not a good place to be just now. The natives up there in the big palaces have decided that foreign miners must now do all their processing into metal in Indonesia. Not over seven or ten years but immediately. er...hello?

You tend to get these sorts of geniuses in governments in the third world. NCM has little relative exposure to Indonesia. The PNG risk is bad enough for anybody, surely.

Just be glad you dont have a bit of Freeport McMoran just now.

Yep, Lihir gives me the collywobbles too. But, if the gold price goes up in a big way which I suspect it will, when the US stockmarket falls off the cliff, which is not if but only when.

Just when you think there will never be any more crashes like the last two and everybody gets confident, head for the exit and preferably buy NCM et al as insurance. Lihir can throw off cash like a bandit in that environment. Its a biggie. Big and bad just now. But it can be big and good.

But until the Indian government takes off the gold import taxes ....there is another factor. Did you know Reserve banks around the world are moving toward substituting gold holdings for $US and Euros? Yep. They buy in multi ton orders not ounces.

Give NCM about 2 years. Sometime later perhaps in that period it could well be rocketship NCM. Leveraged up on CFDs or options and U Be moonwalker?

I'm not holding just now but the chart has been doing different things. Just like gold.