what ncm did not tell you ....

Is what a serious rise in the price of gold from here will do to the bottom line.

But I know. I know. We're all so negative gold. Because $25 billion worth of paper backed by no physical gold was dumped on Comex!!!

NCM's gold production guidance for the 2014 year is for 2 million to 2.3 million ounces.

At 2 million ounces a AUD$100 rise in the price of gold increases NCM's cash flow by $200 million!

Gold is giving every indication of having bottomed and looks set for a substantial rally that has the potential to increase NCM's cash flow by conservatively many, many hundreds of millions of dollars imo.

Now add into the equation the weakening Australian dollar.