With Cadia East production comming on line in December and Lihir MOPU also due for completion in December, I am comfortable with the current P/E of 18. This IMO could go into the early 20s given NCM's resources in the ground, next year's proposed lift in production and still be a reasonable value buy.
Sure other goldies like KRM & MML have better everything except for size and mine life but NCM IMO has the shear bulk to get a significant SP lift if the guru's forecast for the POG materialises.
With kind regards Moorookamick
NCM Price at posting:
$26.39 Sentiment: LT Buy Disclosure: Held
