'...NCM has a gold resource and reserve over 110M ounces Pru has 5M ouces..."
Yes, I am aware of the difference between the market caps of PRU and NCM, but NCM also has an extremely conservatively derived resource of 13M tonnes of copper, and NCM's figures on it's gold reserves are based on a far more conservative value for the POG than PRU applies. Lord knows what gold resource NCM may have if it applied the same numbers as PRU.
Also, PRU are using a value of $850/oz in it's BFS, which is way too high in my opinion...while it was ok, I think it fair to say that the market wasn't that impressed with yesterdays announcement either...only 80,000 odd traded for the day, and it finished in the red on a day where the market finished almost 200pts up...hardly inspiring.
Saying that, I like PRU, but if people didn't take the opportunity to load up on NCM when it got hammered to $18.00 just recently, then they missed a very rare chance to make fantastic returns in the current market.
As for you Flyboy, how's your BLR travelling at the moment?? LOL. If it's all the same to you, I think I might just avoid any stock that you rate.
PRU Price at posting:
77.3¢ Sentiment: None Disclosure: Not Held
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