Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Newcrest Mining Limited    NCM   AU000000NCM7

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

Newcrest Mining Limited : Guidance Update

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/24/2012 | 02:12am CEST
Market Release

Newcrest Mining Limited

24 April 2012

Guidance Update

Newcrest's Board and Management recently undertook its annual strategy review which comprises a comprehensive review of industry conditions, business objectives, key strategies and operating performance.
Newcrest's key objectives were reaffirmed: we will focus on gold, securing high quality resources and converting these resources into low cost, high margin operations. Newcrest will continue operating sustainably and profitably, having regard to the health, safety and wellbeing of our employees, the environment and the communities in which we operate.
The review of industry and operating conditions focused on the following pressures being experienced by Newcrest:
1. The resources industry is facing continued high cost inflation in relation to energy, labour, contractors and suppliers, and a decline in labour productivity.
2. Our operating regions have currencies that have experienced sustained strength relative to the US$ in which our products are sold. This is impacting both operations and projects, particularly labour and energy costs.
3. Continuation of the shortage and high turnover of people with the experience and skills required to deliver on plans.
4. The co-existence of major capital projects of considerable scale at two of the largest operational sites (Cadia Valley and Lihir) creating greater complexity and the risk of more variation in production. In particular, pre- commercial production ore sourced from Cadia East has been lower than expected.
5. The effects of long term underinvestment in fixed plant maintenance at Lihir that has caused production disruptions.
Newcrest remains confident in Lihir's long term potential that will be realised by sustainable production growth at a low cash cost with resource and reserve increases. Newcrest is also confident that Cadia East will realise targeted medium term production at low cash costs.
These industry and operating conditions have been present for a while but it is now apparent that the impacts have become more significant over the past 12 months and particularly in the last quarter. The resulting short term production performance has been unacceptable to the Board and Management. In response, Newcrest has significantly intensified its focus on operating excellence, and cost and capital control, and has re-assessed short term guidance.

Guidance

Following review, gold production for the 2012 financial year will be reduced from 2.43 to 2.55 million ounces to 2.25 to
2.35 million ounces.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NEWCREST MINING LIMITED
09/06 NEWCREST MINING : Encounter Resources Ltd - Second Gold Stock-Work Zone at Telfe..
08/17 NEWCREST MINING : Encounter Resources Ltd - High Grade Gold in First Assays from..
08/16 NEWCREST MINING : Optus partners with local business and community to deliver ne..
08/16 NEWCREST MINING : Growth Options Increasingly Drive Newcrest
08/15 NEWCREST MINING LIMITED : - 2016/17 Full Year Financial Results
08/10 NEWCREST MINING LIMITED : Announces Option Grant to Nominee Director of SolGold ..
08/09NEWCREST MINING LIMITED : annual earnings release
08/03 NEWCREST MINING : Encounter Resources Ltd - End of Hole Gold Mineralisation in R..
08/03 NEWCREST MINING : Encounter Resources Limited - Quarterly Activities Report for ..
08/03 ORO VERDE : Drilling of new zones extends gold mineralisation
More news
News from SeekingAlpha
05/31 A Breakout Catalyst For Gold Miners
04/21 Which Gold Miner Is The Smartest Choice To Buy In April 2017?
04/12 Why The GDX Is Best
03/07 Big Gold Miners - The Sector Is In Trouble
2016 Silver Leads The Way In Precious Metals Stock Performance YTD
Financials ( AUD)
Sales 2018 4 727 M
EBIT 2018 944 M
Net income 2018 556 M
Debt 2018 1 326 M
Yield 2018 1,04%
P/E ratio 2018 29,00
P/E ratio 2019 20,38
EV / Sales 2018 3,94x
EV / Sales 2019 3,39x
Capitalization 17 318 M
Chart NEWCREST MINING LIMITED
Duration : Period :
Newcrest Mining Limited Technical Analysis Chart | NCM | AU000000NCM7 | 4-Traders
Technical analysis trends NEWCREST MINING LIMITED
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 15
Average target price 22,5  AUD
Spread / Average Target -0,02%
EPS Revisions
Managers
NameTitle
Sandeep Biswas CEO, Managing Director & Executive Director
Peter Algernon Franc Hay Independent Non-Executive Chairman
Gerard Bond CFO, Executive Director & Finance Director
John Menzies Spark Independent Non-Executive Director
Richard John Lee Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
NEWCREST MINING LIMITED10.81%13 814
NEWMONT MINING CORP11.09%20 147
BARRICK GOLD CORP-3.48%19 747
SAUDI ARABIAN MINING COMPANY (MA'ADEN)--.--%16 453
AGNICO EAGLE MINES LTD3.05%10 959
SHANDONG GOLD MINING CO., LTD-10.49%9 124