Gold price was good on the weekend but now the health of the company is being questioned Sydneyguy.
Surging prod. costs, cutting output for 2009, gold output fell 16.2% to 382,584 ounces, group cash costs rose 81.6% to $554 an oz., copper prices under immense pressure, Telfer's output cut for 2009, US$ to AUS$ at Gosowong etc. Wasn't the ethralling update that many imagined IMO based on the 22/12 ann. when NCM stated that operating profit for the half-year ending 31/12/08 may exceed the previous the previous corresponding period by more than 15% with current movements in commodity prices and exchange rates.
The good news is that NCM achieved an average gold price of $1198 an ounce during the second quarter of 08/09, up from $870 an ounce on the previous corresponding quarter. Plenty of M & A potential.
Should do okay tomorrow.
NCM Price at posting:
$30.57 Sentiment: LT Buy Disclosure: Not Held