Morgans describes Newcrest Mining’s FY20 result as steady, but says Lihir’s outlook disappointed and questions whether Lihir will ever post a consistent performance. FY21 guidance for Lihir points to both an unexpected drop in grade and mill recoveries, explains the broker.
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Like its larger foreign rival, Barrick, Australia’s largest gold and copper miner, Newcrest, lifted its profit in the year to June by 15%, despite gold output falling 13%.
Read MoreNewcrest has results of drilling at Red Chris and Havieron which reinforce the emerging value in these projects. UBS is of the view that the results from Havieron increase the likelihood it will be mined, which could change the economics of Telfer.
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A rising US dollar gold price is taking global gold equities higher and brokers note Australian gold stocks are lagging the move.
Read MoreNewcrest is raising $1-1.1bn in equity with the placement issue price at a -7.0% discount to the last traded price. Proceeds of $704m will be used to acquire the gold streaming and financing of Fruta del Norte, the Ecuadorian gold mine in which the company has 32% equity share.
Read MoreNewcrest Mining wants to raise up to $1.1 billion of new capital from shareholders to expand its interest in gold produced from mine in South America and to expand its existing mines.
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Gold equities have suffered from the liquidity-driven global sell-off over recent weeks but several brokers suggest the outlook is much brighter, as flight-to-safety concerns take over.
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With a sense of raw panic descending on global stock markets, the question is whether there are any truly safe havens in terms of remaining exposed to equities?
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Not helped by a slide in gold prices, Newcrest has downgraded its 2019-20 gold production. The news took investors by surprise and yesterday saw a spate of downgrades from analysts.
Read MoreGold production in the December quarter was well below UBS estimates. Costs were ahead. Weaker production is mainly because of lower output at Lihir and Telfer.
Read MoreIt seems that after several months of rest the gold price is showing promise again. Remember I am a gold bug who believes the gold price will be significantly higher in the coming year and years and have spoken at length about the basis behind why gold (platinum and silver too) will be much higher.
Read MoreMiner Newcrest has reported a sharp fall in gold and copper output for the three months to September but has not only said it will meet full-year guidance but has lifted that forecast.
Read MoreAs widely tipped Newcrest has approved the $685 million expansion of its huge and very profitable gold mine, the Cadia mine in central-western New South Wales.
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A glance through the latest expert views and predictions about commodities. Coal; oil; alumina; iron ore; gold; and diamonds.
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Newcrest Mining is likely to face several years of falling gold production as Cadia grades decline, and a delay at Wafi Golpu raises doubts over whether this development will compensate.
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Cochlear’s 2018-19 results topped market expectations, Newcrest has ridden the rising gold price higher, Domain has cut its full-year dividend while investors have given oOh! Media’s 2019 profit downgrade a big thumbs down.
Read MoreBullion’s romp beyond the record $2000 an ounce level in Aussie dollar terms has prompted investors to take a closer look at the pantheon of ASX-listed local gold producers – despite some problems in the mid-tier that have tarnished the sector.
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I know this is the fifth time I am writing about gold but with the precious metal surging to fresh new multi-year highs I need to stress to readers the enormous opportunity that is being presented to investors.
Read MoreIf you let this gold bull market get away, in this cycle, there isn’t another booming sector to replace it.
Read MoreGold continues to perform well in US dollar terms and even better in Australian Dollar terms and the backdrop to a higher gold price is only strengthening. It, along with the “yield crunch” thematic I have discussed here all year long are my two favourite broad market trends that present an enormous opportunity for investors.
Read MoreAS I stress to the traders in my office, the formation on NCM takes years to develop. If I am wrong so be it. That’s markets, but if I am correct and this does explode higher and you are not part of this once in a multi-year rally, frankly, there are no excuses to let such an exceptional opportunity pass.
Read MoreNewcrest Mining has signalled a commitment to its low-grade Telfer gold mine in the East Pilbara by striking a $90 million exploration farm-in agreement with Greatland Gold in the highly prospective Paterson province.
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Brokers perceive Newcrest could add significant value to the Red Chris copper-gold project, in which it has acquired a 70% stake.
Read MoreNewcrest will acquire a 70% stake in the copper-gold mine, Red Chris, Canada, for US$806.5m. Morgan Stanley considers this a natural fit, as few operators globally have block caving experience.
Read MoreGold miner Newcrest Mining says it will finance the $1.1 billion purchase of a major new investment in Canada from its own internal resources and banks – a move that should win it the thumbs up from shareholders wary about being asked to help finance big deals by mining companies.
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While South32 was rewarding shareholders with higher dividends, no such joy for shareholders in the country’s biggest gold miners, Newcrest which more than doubled its first-half profit thanks to the continuing recovery at its Cadia gold and copper mine in NSW.
Read MoreNewcrest Mining (NCM) after its quarterly has quickly risen to be one of my favourite large-cap stocks as it benefits from the Australian dollar falling (gold is rising faster in local currency terms), better production numbers and lower costs (currently at US$720/ounce).
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SolGold, the Australian originated, UK/Canadian listed small exploration group that now has BHP and Newcrest Mining as major shareholders, has produced another massive upgrade of its key copper/gold resource in Ecuador.
Read MoreNewcrest Mining shares enjoyed a nice little run-up yesterday after the country’s major gold miner revealed no troubles in the three months to September.
Read MoreNewcrest Mining’s FY18 earnings outpaced the broker by 10%, although production and cost guidance disappointed. Cash flow met guidance.
Read MoreNewcrest Mining has warned of a one-off non-cash earnings impact of $US260 million to $US270 million in its 2017-18 financial results, due later this month, and confirmed that it cut debt by $US459 million in the year to June.
Read MoreShares in major gold miner, Newcrest rose yesterday on the higher gold price and better than expected news in its 4th quarter and 2017-18 production and sales report.
Read MoreUnder pressure from the Indonesian government Newcrest has been forced to accept, from FY19, an increase in the tax rate to 32% from 25% and the royalty rising to 3.75% from 0.7%. From FY21, the company must divest a further 26% of its ownership in Gosowong to 49% from 75%.
Read MoreNewcrest has settled its insurance claim in relation to the seismic event on April 14, 2017 at Cadia. The settlement is reported to be US$155m.
Read MoreCiti analysts highlight the "high takeover appeal" that is currently swirling over the Newcrest Mining share price. They believe it is far more cost-effective for one of the international majors in the sector to buy Newcrest than to try to build a similar suite of assets from scratch.
Read MoreNewcrest Mining has cut its gold and copper production forecasts for 2017-18 because of the recent outage at its huge Cadia mine in central Western NSW where mining operations are now forecast to be back to normal by June.
Read MoreSlowly Newcrest Mining is moving towards returning its most important asset – the huge Cadia gold and copper mine in central western NSW – back to something approaching full production.
Read MoreNewcrest says its too early to update its guidance for the year to June for production of gold and copper even though it says it resumed mining at its troubled Cadia mine in central western NSW.
Read MoreThe company has provided no timing on the recovery of production at Cadia after the failure in the tailings dam wall, stating this depends on the regulators and experts. Material continues to flow into the smaller southern tailings storage where it is being contained.
Read MoreNewcrest Mining shares fell yesterday for the 6th session in a row as the company battles with the impact of the partial failure of a tailings dam wall at its huge Cadia gold and copper mine in central NSW.
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