The powerpoint presentation used by the exec not only states the NCM is shooting for an extra 1m oz annual production by 2014 but it show which projects they expect the extra production to come from. That extra 1m oz a year does not allow for the Fiji project or the PNG project they are doing studies on (as well in 2011 they will spend $25m drilling in Fiji and another $25m in PNG).
That also does not allow for anything they find from their other expolorational work in west Africa or Indonesia or Australia, nor from any projects they acquire in the interim. The growth in production up to 2014 is an achievable 8% per year.
If the presentation was not released as an ASX announcement then you can find it on the NCM website. I don't think there was anything shifty or sneaky about what was reported, it was taken straight off the powerpoint slide.
NCM is a thirty something billion dollar monster. If you are looking for rapid capital growth then maybe you do need to look elsewhere, probably down the junior end of the goldie pool.
NCM Price at posting:
$40.68 Sentiment: Hold Disclosure: Held
