NCMGY - Newcrest Mining: Long Life Mines For A Long-Term Investment

• Newcrest offers a reserve and resource base which is strong, with current gold reserves representing more than 24 years of production at current rates.
• Newcrest's balance sheet is robust and the management team has a consistent focus on operational and cost efficiency.
• While its gold assets drive day to day stock price action, Newcrest's copper position offers a call option on long-term copper prices.
• Newcrest's relative valuation, despite its high quality portfolio, is undemanding and with the gold sector underperforming in recent weeks, it's time to buy the dip.

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