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$28.78 newcrest mining limited

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baculin

665 Posts.

74

04/03/19

10:47

Post #: 37641049
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Originally posted by goldbear77: ↑

imo its got nothing to do with usd gold price - ncm is aud gold price - which has held steady

ncm is selling off because of the Barrick Gold merger offer for Newmont

Its been publicly stated that NCM would be the likely buyer of non-core oceania assets from such a merger - so everyone is getting out now after
a stellar run ahead of risk of big dilution.

NCM is cheap and huge production but lacks production growth profile - they want to buy 1-2 assets that will change that

same reason GOLD (barrick's stock ticker) is plunging on nyse - the merger on current terms of offer would seem unlikely to get interest from newmont shareholders - but market isnt going to take the risk

i sold my NCM at 25.38 for this reason

stock fundamentals remain great. but its clear a deal making frenzy is shaping among gold majors - so highly likely NCM will feel compelled to buy something - because corporate boards are stupid that way

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Goldbear77 , at what price would you consider buying back in ?

NCM Price at posting: $23.75 Sentiment: Hold Disclosure: Held
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0 Great analysis

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