NCMGY - Newcrest Mining: Digging Into The FY2020 Reserve Update
- Newcrest Mining released its CY2020 Reserve & Resource update in February, coming in 5th for global gold reserves among its peers.
- While we saw a decline in reserves, this was partially due to the sale of Gosowong, and it doesn't include the likely addition of reserves at Red Chris and Havieron.
- At a reserve value per ounce of just below $350.00, Newcrest remains reasonably valued relative to peers, but the key will be bringing costs down at Lihir.
- Currently, I see better opportunities elsewhere in the sector, but I would view any pullbacks below US$18.25 as low-risk buying opportunities.
For further details see:
Newcrest Mining: Digging Into The FY2020 Reserve Update