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Newcrest Mining Limited (ASX:NCM) has posted a first half profit of $200 million and all operations are generating positive free cash flows.

 

While the gold miner’s statutory result is a gain, the underlying result is a slight dip and comes in just below analyst’s expectations. 

 

The company says free cash flow of $268 million was generated in the current period and all operations were free cash flow positive, and, as was expected the company did not declare a dividend.

 

Gold production was 6 per cent lower than the previous corresponding period while output at Cardia East increased.

 

Production guidance for the remainder of the year was lifted with full year output target of between 2.3 million and 2.5 million ounces.