NCM has bottomed, page-64

Just Sixth in terms of production output of gold for end of each companies financial year- as can be seen by the likes of sbm and a few other much smaller producers- scale is not everything as the smaller ones produce Better net profits , and if you look at accumulated profits it’s still to recover the losses from Lihir and other write downs-

If there was a list of how management got paid despite the capital destruction over the years- they may be higher than 6 th