Long Life Orebodies Provide a Platform for Newcrest Innovation
Newcrest updated its strategy and outlined plans for operational improvements at its latest annual investor day. The upshot is we remain confident the company will be able to drive incremental enhancements and we retain our AUD 23 per share fair value estimate for this no-moat firm. Shares remain slightly undervalued. The market is likely undervaluing the potential for management to add longer-term value through the application of new technologies, as well as some residual concerns around the re...Newcrest Mining is engaged in the exploration, mine development, mine operations and the sale of gold and gold/copper concentrate. As of June 30 2016, Co.'s reportable operating segments were: Cadia, Australia; Telfer, Australia; Lihir, Papua New Guinea (PNG); Gosowong, Indonesia; Hidden Valley Joint Venture (JV) (50% interest), PNG; Bonikro, COte d'Ivoire; and Exploration and Other, which mainly comprises projects in the exploration, evaluation and feasibility phase and includes Wafi-Golpu JV (50% interest) in PNG, Namosi JV (70.67% interest) in Fiji, O'Callaghans in Australia and Co.'s global greenfields exploration portfolio.
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