Hi Billy
yes long term reserves are high,
Some financial triva on newcrest
the cost of building all these reserves over the long term, a decade, it would probably shock people to know that those reserves have returned a net loss after tax believe it or not,
and over a decade, the long life reserves have resulted in the return on equity has falling over 75%,,,,,, and a nearly 60PC fall in return on capital, and 100PC increase in long term debt.
Highly inefficient business, lots of mine life but in actuality no financial payoff for building them imho.
But the directors and managers have creamed it.
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