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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 pathson May 02, 2019 10:52pm
237 Views
Post# 29704595

RE:RE:RE:RE:Management Discussion & Analysis

RE:RE:RE:RE:Management Discussion & AnalysisWe already know what will be said tomorrow. Something like, 'that will be the worst quarter, Q2 will be more tonnes and better grade'. So shares should close at least a little higher. 

What surprised me, is the shares going all the way down to 7.1, what would let that happen. Then the report was more disappointing than most anyone thought it would be, but still the shares went up 0.2 in after hours. So the average market participaint is disappointed, yet immediately bids the shares higher??

It could be that once again a large market participant, essentially knew the news ahead of time, already traded the shares low, too low, so the only direction available was for the market to buy the news. 8.8 to 7.1 was a 19% drop when gold was only down 3.2%. One solution could be for the company to stop selling to a single refiner, but to include sales of a varying fraction of the production to another refiner, maybe even the Canadian mint each quarter, which is one buyer that has their own gold/silver refinery. Then if it somehow occurs that information leaks out of the commercial refiner, it would not be of value without the information from the refinery at the mint. Something like that. Maybe I'm too suspicious, and there is nothing here to speculate about, but it it maybe does seem like once again there is somewhat unusual share price behaviour at a report date...??
Bullboard Posts