Yes NCM will rise and fall with the major indexes - agree....

Yes NCM will rise and fall with the major indexes - agree. However with all due respect how on earth are so called production issues( maybe minus 5% ) a concern when the gold price is $350+ over and above average price received last quarter? When gold hits $2500 later this year a 5% to 10% production shortfall will mean nothing - do people really believe that if a gold miner misses a production forecast the gold is gone forever and not able to be sold at a higher price down the track? Ridiculous logic.
NCM , despite the strong aud , is making the greatest margin it ever has on record. In fact these so called arguements about "headwinds" simply don't stack up.

The fundamentals for NCM and all other major unhedged gold miners improve by the day. Yes the stock is subject to short term manipulation but this provides excellent opportunities for value investors to load up on the cheap. The Canadian listing will be an important issue as It will expose the stock to a new pool of investors - the more demand for the stock the more likely the stock will escape from the claws of the bot/index selling / shorting/tape painters whatever.