Given where the gold price has been for the last several months its hard to imagine why NCM is trading south of $50 let alone $33.80
FYI here is how the major SA miners fared last night -
http://www.kitco.com/pop_windows/stocks/jse.html Harmony up 5% !!!
Even the HUI and the TSX up last night on a firm gold price and falling Rand/Canadian Dollar.
The falling aud will have a significant positive impact on NCM cash margins , in particular Q4 this year. Rising margins should lead to a rising share price , eventually.
NCM Price at posting:
$34.08 Sentiment: LT Buy Disclosure: Held
