Windfall for Aussie Gold miners - Aussie Stock Forums

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  1. #1
    Uncle Festivus's Avatar
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    Jan 2007
    Blue Mountains, NSW, AU
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    Default Windfall for Aussie Gold miners

    Anyone see bargains to be had?

    Oct. 7 (Bloomberg) -- Newcrest Mining Ltd., Avoca Resources Ltd. and rival Australian gold producers are set for ``windfall'' gains as the value of the precious metal in Australian dollars climbed to a record as the local currency fell.


    Newcrest, Australia's largest gold producer, will have net income of A$467.5 million in the year ending June 30, 2009, according to the average of eight estimates compiled by Bloomberg, compared with A$134.3 million last year. JPMorgan Chase & Co. increased its 2009 fiscal year profit estimate for Newcrest by 47 percent Aug. 29 after the broker cut its forecast for the local currency. Australia is the world's third-largest bullion producer.

    Humanity is just a discretionary ponzi scheme

  2. #2
    It's a small world Whiskers's Avatar
    Join Date
    Aug 2007
    SE Qld

    Default Re: Windfall for Aussie Gold miners

    I was looking at the chart patterns for the XMM and XMJ the other day, thinking they're not following quite the same pattern as the XAO... commodity boom to continue, at least for Aus, I think lead by the yella metal.

    A couple of my favourites atm are quality and quantity gold and iron ore explorers.
    Que Sera, Sera (Whatever Will Be Will Be)

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