With the cash flow likely to be generated over the next 12...

With the cash flow likely to be generated over the next 12 months with gold averaging $2k aud the special dividend of 20c could easily be 80c this time next year....maybe higher.

NCM has the balance sheet strength to deliver going forward imho - don't forget last years profits/dividends etc delivered with a gold price about $1380 aud - 2.7m ounces at an additional $300 to $500 an ounce = a bucket load of additional free cash flow