Looks good to me !, page-15

ok some newswire coming out from majors, like me they are seeing through theheadline result

Doing much better but shessh lots to spend, free cashflow unsustainable given the project spends, guidance.

Its trading a big multiple 15plus on historical with forward expect to dip

Simply on valuation grounds I think its worth less that 10 as I expect this will continue for years and there is no guarantee of the gold price

FYI Good luck

DJ Newcrest Projects Seen Consuming Cash -- Market Talk

0150 GMT  [Dow Jones] Newcrest Mining Ltd.'s (NCM.AU) improved free cashflow
simply isn't sustainable, argues Deutsche Bank, which says a commitment to several
new projects damps the outlook for surplus cash generation. "Newcrest has committed
to a number of new projects within its portfolio, aimed at maintaining gold output near
current levels for the next few years," the bank's analysts say. "We
believe Newcrest is being quite strategic with its disclosure on these projects,
outlining small preliminary capex budgets that are 'digestible', without
disclosing the overall budget required to deliver the project." But they think new
projects, such as the Telfer cutback and Lihir plant expansion, will "weigh on free
cashflow for years to come." Deutsche Bank has a sell rating and A$10.10 target on
the stock, which trades down 0.1% at A$11.43/share. ([email protected]; Twitter:
@RhiannonHoyle)

Editor: MNG


  (END) Dow Jones Newswires
  August 17, 2015 21:50 ET (01:50 GMT)
  Copyright (c) 2015 Dow Jones & Company, Inc.
Tuesday 18 August 2015 11:50:00.000 AEST

DJ UBS Worries About Newcrest's Lihir Linger--Market Talk
  19:56 EDT [Dow Jones] UBS's concerns over Newcrest Mining Ltd.'s (NCM.AU)
Lihir mine haven't been allayed. While Newcrest provided the market with an update
on the Lihir operation alongside its FY earnings report, UBS argues information was
limited. "The data shows broad ranges of potential outputs and is only at a
prefeasibility level," it notes, adding that "beyond the first five years,
little detail is available." It thinks that--although some investors are willing to
overlook this, drawn to Newcrest's size and liquidity--the operation will remain a
drag on the stock. "What concerns us is that despite containing 38% of
[Newcrest's] 75-million-ounce reserves and 32% of group output, Lihir clearly
remains at a conceptual stage," says UBS. "For this reason, we have lifted its
discount rate from 8% to 10%." UBS, which has a sell rating on the stock, cuts its
target to A$9.40 from A$10.40. Newcrest last traded at A$11.44. ([email protected];
Twitter: @RhiannonHoyle)

  (END) Dow Jones Newswires
  August 17, 2015 19:56 ET (23:56 GMT)
  Copyright (c) 2015 Dow Jones & Company, Inc.
Tuesday 18 August 2015 09:56:00.000 AEST