carry values

if you look at the metrix, NCM lihir mine and a few others are way overvalued on the books now with Gold well below 1200usd...

EVN will potentially produce as much as lihir next year and look at its market cap, then look at the monster value of lihir


Then look at the value mines sales are getting.

IF there is no substantial write down in the values, especially Lihir then the market will do it for them.

Debt to equity is though the roof when it gets hit with falling pog aud and falling AUD with USD debt.

Moreover net assets are 1081...how does NCM think it can trade at a premium or at book value when all of its peers are way below.

Get some protection I reckon, its about to unwind as the $8 and $10 club start seeing their profits diminish.

Capital for Telfer and PNG required imo

the premium to book value will imo turn into a monster discount

Good luck