I did not know he was a banker, thought he was just a boring bloke. Nearly five years after the gold mine crisis in 2013, he is still in a crisis-mind because he still try to boast his achievements by saying 'every operation is cash flow positive EXCEPT ...'. Boy, the pog is near its historic high in Aussie term and we get a CEO there who still cannot get positive cash flow in Telfer, probably the second largest gold mine in Australia, by ounces produced
I saw many NCM presentations that supposed to convince investors that NCM is undervalued comparing to peers. The managers actually should ask themselves why. Removal of Cadia, what left in NCM? They sell millions of gold close to for nothing. They may worth more just leaving the reserve in the ground.
NCM Price at posting:
$22.26 Sentiment: Buy Disclosure: Held