NCM the undisputed Number 1 gold stock on The ASX.
LHG Number 2.
LHG has may reasons for the relative outperformance to NCM(usually it underperforms:) but it looks like to me that NCM is now undervalued comparatively to its Aussie Peers(usually NCM only underperforms it's overseas peers :)
Gold heavyweight Barrick Gold Corporation at the weekend officially filed its $9,2-billion bid for Placer Dome, which Placer has urged shareholders not to respond to.
In a statement, the firm said it had “filed with securities regulators in Canada and the United States its formal offer to acquire all the outstanding shares of Placer Dome”.
The bid - if successful - will see the world's largest miner being created as Placer is ranked as the fifth-biggest gold producer internationally, while Barrick is already world number three.
Meanwhile, Placer has urged shareholders to defer taking action on Barrick's unsolicited bid.
http://www.engineeringnews.co.za/?show=77389
NCM the NUmber 1 takeover Target in Australia.
A bid of $24-$25 would be unsuccessful.
$30+ would most likely be successful in the current enviroment.
Downside for NCM looks super limited.
It's gotta be a buy at current prices for anyone with a 3 month time frame.
