Low operating costs and the large resource and reserve base differentiate Newcrest from peers.
We maintain our AUD 21 per share fair value estimate for Newcrest Mining. Trading around AUD 22 per share, the stock is close to fairly valued. Seismic activity near Cadia will see group production come in at the bottom of the fiscal 2017 guidance range of 2.35 million-2.6 million ounces of gold and 80,000-90,000 metric tons of copper. At Cadia, most ore comes from Panel Cave 2 and this will increasingly be the case as the first mining area, Panel Cave 1, depletes. Importantly, Newcrest says Pan...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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