hi AlleyroninFollowing is the historic production profile of NCM...

hi Alleyronin

Following is the historic production profile of NCM that I post every QTR following their production report .....

Apart from the production number I cannot simply put in the headline all in sustaining cost of (1001USD) released yesterday as it relates to the group I suspect and is not usually contained in the production report which looks at what each mine is doing......was a great headline grabber but not relevant to the production report I suspect............probably why they have again kept guidance......

I note they did not release the average gold price achieved or all in costs for the sites, therefore I cannot see how margin is tracking........

all we know is that there was a drop in production QTR on QTR of 55459 (but they had flagged it on a few occasions)

Ill wait for the detail because there are all sort of things that can come in to affect the groups all in sustaining costs of the company, hence why I have always put in the total costs contained in their report and not relied on the super simple cash cost headline number........AISC is a new thing that came out 27/6/2013

You will note that I have always used total costs after credits in my reports and last QTR they were $1069 , so if the number is say 1050AUD, (IE there headline number now goes into the report) then that is going to be a step in the right direction but I wouldn't get too carried away, chances are the achieved gold price dropped by the same amount and margins probably did not expand....and its all about margins IMO


thought you might be interested