lots changed in the last few months, and especially been changing last fortnight.
Did think it would go on to 20 but 1455 just wouldn't break,
POG AUD spike was unsustained and has fallen back 50pc roughly from its early year exploooosion.
AUD pog falling back means the extra margin is not really sufficient to cope with the unhedged USD debt and interest payments.
Margins are actually contracting last report on units produced, costs rising in large mines, cadia costs capitalised to reduce reported costs, they will depreciate later and say,,look non cash item.
Couldn't take its allocation in EVN
Sold assets to reduce debt load, not reduced from cashflow,
more Capex needed Lihir and Telfer
Telfer produces is valued at heaps less than lihir and - no sale - so on ncm metrics Lihir might still need a right down.
Thought $20 with to company upgrades to production, and all I got was a 1PC increase on last year, that's not going to pay off debt and provide cash for dividends safely imo
Debt to equity ratio is rising hard and its a price taker, price has changed and is soft
Thought short well up from here, yes I can get smashed but still don't think ppl will hold a 0% yield at above book value too long....
Good luck mate,,,things changed,,,,,long didn't pay on the second one....
NCM Price at posting:
$11.78 Sentiment: Sell Disclosure: Not Held
