SG agree with some of your stuff but the MRRT doesn't touch gold/copper/silver so how is this an issue? Please explain.
Also could you please point out historically how the NCM margin has been eaten away as you put it - to reference the most recent presentation
http://www.newcrest.com.au//upload/892_3x20x2012112822AM.pdf sepecifically slides 4& 5 I fail to understand how this reflects margins being eaten away.
Yes NCM probably overpaid for Lihir but if one refers to reserve life at current production levels - again please refer http://www.newcrest.com.au//upload/892_3x20x2012112822AM.pdf NCM trumps BArrick,Goldcorp & Newmont. Does this not make NCM highly desireable as a takeover target at current price levels?
ALso I would be interested to understand your thoughts as to why the gold price is likely to drop with the major world economies awash with negative real interest rates.
NCM Price at posting:
$29.33 Sentiment: Buy Disclosure: Held
