NCM - Newcrest Mining

[mrlister]

At 3 year lows now, even though the price if gold didn't move dramatically. Nervous times overnight if the price of gold dips

 

[notting]

Got a bit trigger happy today with this one.
Hope it's a fake down through long time support at 30.
If not that may be new resistance for some time.
Whoopsi.

 

[skc]

Got a bit trigger happy today with this one.
Hope it's a fake down through long time support at 30.
If not that may be new resistance for some time.
Whoopsi.

The Indonesian situation spooked the holders a bit as well. Anyone knows the relative size of NCM's operation in Indonesia?

Newcrest Mining, which last week said it believed ''the changes do not apply to the existing contract of work for the Gosowong mine'', said it stood by that comment, as the permit held for Gosowong was not captured by the divestment rule published last week.

Read more: http://www.smh.com.au/business/indo...o-new-deals-20120316-1vaj8.html#ixzz1pYmEOa48

 

[notting]

Makes a mockery of of the "Remarkable Indonesia add" they have been pawning off to the global investment community. Perhaps Banbang is implementing some pointers he got from the honourable member for Griffith whilst he was mixing it abroad!

 

[mrlister]

Got a bit trigger happy today with this one.
Hope it's a fake down through long time support at 30.
If not that may be new resistance for some time.
Whoopsi.

Your not alone there. I did the same......twice!!

 

[mrlister]

Anyone got any idea as to the current drop?

 

[blue0810]

Anyone got any idea as to the current drop?

Gold is Red.

 

[mrlister]

anyone got a real answer?

 

[blue0810]

As 21/3/12 some Gold stock .
-1.88 NCM
0.63 KCN
-9.03 MML
-0.42 PRU
-3.71 RSG
-1.15 TRY
0.6 SLR
0.73 RRL
-2.33 SFR

NCMGY – 2.93%
http://www.kitco.com/charts/livegold.html

 

[mrlister]

The price of gold hast dropped that much of late, well not beyond the big 5% a while back.

 

[qldfrog]

The price of gold hast dropped that much of late, well not beyond the big 5% a while back.

yet nothing to justify NCM going from $36 to $28 in one month
during that time gold only went from 1615 to 1514 in AUD..a mystery especially as it is a well manage company making money by the bucket..I own far too much of these shares....
NCM did not follow the gold rise either and was lagging behind..any real clue welcome

 

[mrlister]

Somewhere above it was mentioned it may be due to the Indonesian mining tax. Yet ncm say they are immune for now. Maybe they aren't as immune as they say?

 

[sinner]

I would say it's not NCM specific, qldfrog.

In spite of the currency differences, the major gold indices (XGD.ASX, XGD.TO, GDX.NYSE) are all moving in sync and the direction is not up.

As for an explanation, if I had to bet on one, it would be the high oil price keeping the avg cost of production/oz for the industry moving up.

 

[mrlister]

Good start today along the road to recovery. Hope it keeps going

 

[blue0810]

Yes most of Gold stocks are up today. Including NCM ~ 2.% so far

http://www.acting-man.com/?p=15598

 

[mrlister]

When we refer to the price of gold, is it the spot price or the comex price?

 

[Renitent_Precept]

In sympathy with the rest of the miners? Most dropped off today, but not nearly as much...

 

[skyQuake]

In sympathy with the rest of the miners? Most dropped off today, but not nearly as much...

Cut gold output guidance. Market went in to the result with a negative view already.
Looks pretty bad and cracks new lows

 

[skc]

In sympathy with the rest of the miners? Most dropped off today, but not nearly as much...

They downgraded production guidance.

You can see company announcement on various sites... here being the first obvious place to look.

http://www.asx.com.au/asx/statistics/todayAnns.do

 

[Renitent_Precept]

Do you think it'll keep dropping?