Post by
MaterialsMan on Mar 15, 2024 11:09am
Not just gold
That's what it says on the cover of the '23 annual report. Or, something to that effect.
The Newcrest aquisition will about double copper production.
NEM, IMO, is being perceived by investors as merely a gold company. It's not any more.
Based on today's prices for copper and silver vs. the prices realized in '23, and the result of some back of the envelope calculations, I came up with about one billion added to the bottom line.
Regardless of whether gold breaks out, CU & AG are forecast to increase in value this year.
Along with the fact that gold will in all likelihood be selling at a healthy premium over '23, NEM seems
to have plenty of upside remaining.
I expect that the precious metals miners will be having their day in the sun sooner than later.