Last year 1.7Billion - Likely to be betweeen 2.5b and 3b billion this year should aud gold stay in current range. If gold tests the $2500 usd range by the end of the year andstays somewhere near that level for next year then cash flows could be approaching the $4b range - mindblowing.
CEO Didn't rule out share buy backs - certainly looks that shareholders going forward will be rewarded with either spacial dividends or buybacks.
Production slated to increase 3% to 8% next year - but the largest driving factor will be the benefit to the bottom line from a surging gold price.
Also CEO mentioned that going forward capex will be funded from cash flows - certainly no message about likely capital raisings or taking on board new debt.
Newcrest has an exceptionally strong balance sheet - I look forward to the upcoming Canadian listing which will be a major positive for the share price no doubt.
Unless you think the gold price is going to drop $300 or $400 over the next few weeks ( as some must do ) then I would use this mornings sell off to add to positions.
NCM Price at posting:
$39.90 Sentiment: Buy Disclosure: Held
