Windfall for Aussie Gold miners

[Uncle Festivus]

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.

http://www.bloomberg.com/apps/news?pid=20601080&sid=aSHdt.YQXT9k&refer=asia

 

[Whiskers]

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.

 

[Garpal Gumnut]

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.

http://www.bloomberg.com/apps/news?pid=20601080&sid=aSHdt.YQXT9k&refer=asia

Excuse the delay in replying @Uncle Festivus but it appears Australian miners may have to dig deeper to find unlimited gold stores.

Lava laced with gold: Precious metals are leaking from the Earth’s core to the surface

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

www.kitco.com

gg

 

[divs4ever]

Excuse the delay in replying @Uncle Festivus but it appears Australian miners may have to dig deeper to find unlimited gold stores.

Lava laced with gold: Precious metals are leaking from the Earth’s core to the surface

The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.

www.kitco.com

gg

well they could dive deep into the ocean ( to the volcanic faults down there )

but there will eventually be a limit , and that limit will be extraction costs ( and other regulations )

 

[qldfrog]

well they could dive deep into the ocean ( to the volcanic faults down there )

but there will eventually be a limit , and that limit will be extraction costs ( and other regulations )

About this, lihir was/ is mining gold within an active volcano in PNG....

 

[finicky]

PNG bones through noses and active volcanic complications - could it get worse? .. Africa I guess

 

[qldfrog]

PNG bones through noses and active volcanic complications - could it get worse? .. Africa I guess

Indeed, and as you can imagine crazy geology

 

[Sean K]

As far as windfalls for ASX gold miners who are unhedged, it's going to be a massive EOFY reporting season. POG is up $1000 compared to last year. SPs have gone up a lot for sure, but not sure if it's all factored in.

 

[Dona Ferentes]

As far as windfalls for ASX gold miners who are unhedged, it's going to be a massive EOFY reporting season. POG is up $1000 compared to last year. SPs have gone up a lot for sure, but not sure if it's all factored in.

hope not too many hedges to be disclosed

 

[finicky]

.. it's going to be a massive EOFY reporting season.