I look forward to the day when NCM is judged among its gold mining peers based on ounces in the ground, cash margin , production profile , cash costs,grades, locality of assets,new discoveries, track record on being able to grow reserves etc from exploration etc etc. Ie all the normal metrics that a gold mining company should be judged on. For eg the good news story that is Wafi Golpu seems to have had little to no impact on the share price.
At the moment on the asx its simply looked at as a general mining company , with imho little acknowledgement of what it actually mines. If bhp or rio are trading down on a given day chances are so will ncm. If production is down in a quarter then never mind that when the ounces get mined next quarter or next year said production will likely be mined at a higher gold price.
But shortly I believe NCM will begin to be judged as one of the worlds leading gold miners , not as an Aussie base metal mining company and I expect frustrating days such as these will only occur during periods when the gold price is experiencing significant weakness - (which I dont see happeneing for several years)
NCM Price at posting:
$34.43 Sentiment: Buy Disclosure: Held
