I think you have mistaken the 2025 guidance to be negative. You have looked at period to period without accounting for the loss of production and sales of non-core asset sales. Putting that to one side look at the basics (as mentioned in a recent post I made) ....2025 guidance today is 5.6moz, aisc $1,620/oz, and assume PoG @ $2,800/oz. On an issued capital base the earnings are about $5.8/unit. Dividends (post non core asset receipts) must increase. Current divs are $1/unit. Payout ratio 17% (unsustainable as I mentioned previously). Imo this is a very good result and the market should take this as a turning point.
NEM Price at posting:
$74.90 Sentiment: Buy Disclosure: Held
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