option related?, page-13

FYI, newswire from Maquarie with profit forecasts

Newcrest's (NCM.AU) Lihir production downgrade, the
second in less than three months, is likely to trim about 3% from Newcrest's fiscal
2012 earnings, according to Macquarie. Even so, the broker reiterated its Outperform
rating and A$50 price target. "We had been of the opinion that Newcrest's
production had reached its base and was set to rebound over the coming quarters,
providing upward momentum in the stock," Macquarie says. "Today's
announcement indicates that while production is improving at all other sites, the primary
driver of growth, Lihir, is likely to take some time before it improves. As such our
thesis remains unchanged except for the fact it is likely to occur over a longer period
than initially expected." NCM was last down 4.4% at A$34.51 after hitting a 4-day
low of A$34.49. ([email protected])