moving forward - back of the envelope numbers.

Newcrest's 3rd biggest shareholder , JPM , is calling for $2500usd gold near term

http://www.zerohedge.com/news/shocker-jpm-sees-gold-2500-year-end

Lets look at some back of the envelope numbers. Now if $2500 usd gold were to materialize and assuming an exchange rate of 1.10 - thats 2200 aud gold -if 2200 aud gold were to exist for half of next year then revert back to current spot prices aud gold could likely average $2k aud for next year.

Assuming production doesn't vary from current levels and we are looking at NP increasing by 1.5billion. Thats right - an increase to last years profit of well over 100%.

Now if gold fails to rise to these levels and stays around aud $1700 then that's an additional 750million or an increase in profit of 75%

Pretty much anyway you slice it NCM stands to increase profitability by 50% plus next year - any analyst which suggests otherwise I would strongly disagree with. If any NCM investor on this forum is in receipt of an analyst report downgrading NCM I would love to read it in full.

If production increases as suggested well and good but the biggest gains to NP will occur through a rising gold price not 5% to 8% production increases.

Surely Newcrest's management over the next few weeks/months can convey this simple message to the institutions - again odd that its 3rd largest shareholder who is calling for $2500 gold hasn't come out with some serious upgrades on some of the major miners. Perhaps JPM over the course of the next few weeks will do some calculations for NCM.