Newcrest Mining: Results 2014

There is a decent miner buried within Newcrest but we are unlikely to get to it, says Gaurav Sodhi.

Rather than the sickly gold price, it was asset write downs and poor free cash flow that blighted full year results from Newcrest Mining. The country’s biggest gold miner raised production 14% to 2.6m ounces but reported a loss of $2.2bn following yet another write down from the Lihir mine worth $2.6bn.


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