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NCM - Newcrest Mining

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At 3 year lows now, even though the price if gold didn't move dramatically. Nervous times overnight if the price of gold dips
 
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.
 
notting said:
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.
Click to expand...

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

 
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!
 
notting said:
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.
Click to expand...

Your not alone there. I did the same......twice!!
 
The price of gold hast dropped that much of late, well not beyond the big 5% a while back.
 
mrlister said:
The price of gold hast dropped that much of late, well not beyond the big 5% a while back.
Click to expand...
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
 
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?
 
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.

 
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