Newcrest Mining Limited
.png)
NCM Details
-
Falling gold prices dampened the stock sentiment: Newcrest Mining Limited (ASX: NCM) stock fell over 2.5% on June 20, 2016 due to fall in gold prices on easing fears over Brexit. On the other hand, NCM reported that its Mining restarted at the Kencana mine, a part of the Gosowong operation. The group’s production at its core assets- Lihir, Cadia and Golpu are also witnessing organic growth. NCM is still among low cost producers with a solid reserve life.
-
Recommendation: We maintain a “Hold” on the stock at the current price of $21.85
.png)
NCM’s cost competitiveness (Source: Company Reports)
Syrah Resources Ltd
.png)
SYR Details
-
Finished capital raising: Syrah Resources Ltd (ASX: SYR) fell over 0.78% on June 20, 2016. The group finished the placement of its 32 million new fully paid ordinary shares to raise over A$194 million of capital. The group intends to use these proceeds to finish development of its Balama Project (including working capital requirements) as well as to fund its general and administrative cost requirements. This capital raise would also enhance its balance sheet flexibility and enable the group’s efforts on its spherical graphite strategy in response to major market.
-
Recommendation: Given the project prospects ahead, we give a “Hold” on the stock at the current price of $6.35
Disclaimer
The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkine.com.au and associated pages are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376).The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd currently hold positions in: BHP, BKY, KCN, PDN, and RIO. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.