While I have fond memories of the good old days. I think NST is...

While I have fond memories of the good old days. I think NST is past the growth phase in a mining company lifecycle. M&A's should be kept to a minimum and on very compelling Tier 1 size assets. Boddington would be nice. That would make old gold farts like me smile. It would be like NST completing the holy grail set of Normandy assets. There is a fair bit of Normandy hindsight in that view. If it was not taken over I believe Normandy would be in the top 3-5 biggest gold miner in the world today. Would have made NCM look like a middleweight for sure. Shame history was not any different. Then again we would not have NST, EVN, GMD etc today without Normandy non-core assets scattered to the four winds...

Enough day dreaming. POGO had given NST SP euphoria and many had high hopes for the asset. To be honest with you it has not lived up to the hype. If not for the other assets pulling extra weight NST would be in trouble thanks to POGO. I'm actually surprised it has not come to a non-cash impairment after all this time. A testament to NST operators talent and determination.

M&A is the fastest route to impairments. Something everyone should keep in mind. Specially those hoping for it.