Newcrest has CADIA but also has Telfer (4 years life left, 0.5 to 0.7 gm per ton), PNG . Of course now they are investing on Ludin Gold and ENR. Newcrest is however looking good on my portfolio now - so not complainingNewcrest peaked at $43.46 way back in November 2010.
It's a substantially stronger gold miner nowadays with solid assets, several producing at lowest quartiles and thereby generating very strong cash returns.
Newcrest appears to have recovered from earthquake damage last year to it's Cadia Valley mine and tailings dam, and as this is one of the world's most profitable mines it stands to lift NCM substantially above its average 2018 share price of approx $21.
Today's closing price of $34.02 is NCM's highest since February 2012, placing it less than $10 off its record high.
Near term the gold price seems well-based over $1400/oz and as NCM's buying action appears heavily dependent on POG's daily price movements, buying the dips in a bull market makes sense.
Otherwise, should POG fall back, there is strong support around $27.20 and this represents an ideal price to add.
Thanks. Could you please provide some basis ?NCM looks like it will drop to 31.68 by Nov1.
Tell Sandeep I am in rare form, however 'rare' is the operative term. Long term looks good, so I'd look to enter long at 31.68. Two major trendline breakdowns have short targets which converge at that price point, plus the volume profile of the big May run-up sits here, so there should be strong buying support for a trade. If it happens around Nov 1 then there will be a 4th reason for support at that level in the form of the line forming the lower limit of the big flag. Not advice, dyor etc.Thanks. Could you please provide some basis ?
Just curious. My ex boss Sandeep may get heart attack to learn.
@Gringotts Bank and allTell Sandeep I am in rare form, however 'rare' is the operative term. Long term looks good, so I'd look to enter long at 31.68. Two major trendline breakdowns have short targets which converge at that price point, plus the volume profile of the big May run-up sits here, so there should be strong buying support for a trade. If it happens around Nov 1 then there will be a 4th reason for support at that level in the form of the line forming the lower limit of the big flag. Not advice, dyor etc.
Thanks Miner. I agree it looks like it might go a bit lower. I'm now thinking around the green area.@Gringotts Bank and all
Good morning. Read the quarterly report of newcrest.
I see now Gringotts was ahead.
Market will react pretty soon on all negatives published.
Stay calm.
The below chart is a good example of wave 'c' retrace as it lines up pretty good with the Fibonacci figure 1.618.....imagine that.
Always interesting to see a real life example instead of something in a text book from 20 years ago.
Still holding
View attachment 98831
Looks like @tinhat NCM has been following your wish, with constant south direction move even the mines are located in NorthAlso, it bounced off the 200 day moving average twice in November (11/11 - "well may we say 'God save the Queen'"/"such is life" and 26/11).
It's still a bit too expensive for my liking.
My comment before market opens, has not been accepted by market. The price for today has not halted the south direction. Now I am getting panicked - something could be seriously wrong with Newcrest, and outsiders do not know.Looks like @tinhat NCM has been following your wish, with constant south direction move even the mines are located in North.
Today hopefully the market will get some upward direction with NCM being included on ASX 20 and gold price movement however temporary the reaction would be. The instos would balance their portfolio with more buying NCM. Lets see if my 'wish' comes true.
https://www.asx.com.au/asxpdf/20191213/pdf/44ck512fblt235.pdf
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