This move is on the back of Newmont last night. Down 7.6%.
Don't ask me why, I don't know or understand how or why NCM is under such pressure. Somebody said the other day that you had to keep an eye on the $A gold price - well that is doing very well thankyou, yet NCM is accelerating on the downside.
There will definately be another bounce, but where from?
The stock price looks sick. There are just no buyers prepared to front up, and to be fair, thats probably wise. Better to wait and see where it will go - both the gold price and the stock.
Still very positive in the medium to long term. NCM generating significant cash and must be very attractive to a larger player with declining profile.
NCM Price at posting:
$38.50 Sentiment: None Disclosure: Held
