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Newcrest Mining Ltd NCMGF


Primary Symbol: A.NCM

Newcrest Mining Limited is an Australia-based mining company. The Company's principal activities are exploration, mine development, mine operations and the sale of gold and gold/copper concentrate. The Company owns and operates a portfolio of brownfields and greenfields exploration projects. The Company’s assets include Brucejack, Cadia, Havieron, Lihir, Red Chris, Telfer and Wafi-Golpu. The Brucejack asset is located approximately 950 kilometers (km) from Vancouver, Canada. The Cadia asset is located approximately 25 km from Orange, New South Wales (NSW). The Havieron asset is located approximately 45 km east of Telfer. The Lihir asset is located on the Niolam Island, approximately 900 km from Port Moresby, Papua New Guinea (PNG). The Red Chris asset is located approximately 1,700 km from Vancouver, Canada. The Telfer asset is located approximately 400 km from Port Hedland, WA. The Wafi-Golpu asset is located approximately 65 km from the city of Lae, PNG.


ASX:NCM - Post by User

Bullboard Posts
Comment by Bean_and_Dunnon Nov 13, 2017 3:38pm
216 Views
Post# 26953962

RE:RE:RE:RE:Letter to Mr Ovsenek...

RE:RE:RE:RE:Letter to Mr Ovsenek...If you check page 7 of the M.D.A. you will find that they did in fact report the gold and silver.
This shows up as well in the balance sheet on page 2.  as Inventories  $31,918                               See note 2
c) Inventories Ore stockpiles, in-circuit and finished metal inventory (gold and silver) are valued at the lower of weighted average production cost and net realizable value. Production costs include the cost of raw materials, direct labour, mine-site overhead expenses and applicable depreciation and depletion of mineral properties, plant and equipment. Net realizable value is calculated as the estimated price at the time of sale based on prevailing and long-term metal prices less estimated future production costs to convert the inventories into saleable form and estimated costs to sell. Ore stockpile inventory represents ore on the surface or underground that has been extracted from the mine and is available for further processing. In-circuit inventory represents material in the mill circuit that is in the process of being converted into a saleable form. Finished metal inventory represents gold and silver dor and concentrate located at the mine, in transit to customers and at refineries. Materials and supplies inventories are valued at the lower of weighted average cost and net realizable value. Replacement costs of materials and spare parts are generally used as the best estimate of net realizable value.See also note 4

"During the quarter, the Company sold 55,413 ounces of gold and 19,846 ounces of silver. As at September 30, 2017, there were 7,984 ounces of gold dor and 26,493 ounces of gold in concentrate in finished goods. These ounces will be sold in the fourth quarter of 2017." 
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