When any company discovers a world class deposit with a mine life of 25 years, then the rest of the mining world MUST sit up and take notice. Yes there have been trials & tribulations for Newcrest and at times nothing seems to go right. Some of the probs are of their own making but generally its been failure of plant & crucial equipment, Dont forget the history of the company, Telfer was bought from Newmont when all of the easy gold was gone, ( No tax on gold, planes landing & taking off laden with gold straight to USA, with the only tax payable being payroll tax and the few employees there paying PAYE. ) talk about giving away the farm. Sorry i degressed. The share price does not come close to the actual value they have in the ground. Cant give an opinion on the present senior management but i do personally know of at least one the previous senior people who made themselves famous by stealing other peoples ideas and has used that mode of advancement all his working life. Newcrest is not only the biggest australian gold producer but has the potential to rival any of the big boys in the world.
NCM Price at posting:
$27.84 Sentiment: LT Buy Disclosure: Held
