Newcrest

Newcrest Mining (ASX:NCM) maybe selling more assets after its controversial deal with the merged Catalpa and Conquest, which it reportedly orchestrated. The bonikro operation is the Ivory Coast is believed to be sold off.

Analysts say that Newcrest is likely to sell Bonikro, which it acquired from Lihir Gold through a $10 billion stake. The mine produces 86 thousand gold per year, which represents 3 percent of Newcrest's production.

Newcrest (NCM) has raise 750$ million on Monday through an institutional share placement. The company has raised the share capital to repay debts and replenish reserves. Newcrest Mining has revealed that it has increased its share placement to $750 million from $500 million because of strong investor interest. Newcrest shares were placed on trading halt to complete the placement.

Newcrest Mining (NCM) has announced in the second quarter report that there was fall in the output and raise in the cost. The company’s output fell by 16.2 per cent to 382,584 ounces during the 4Q of 2008 after a drop in production from Gosowong in Indonesia and Cadia Hill in NSW. The miner is planning to expand its existing mines including Gosowong, where $179 million is being spent to lift annual output to 450,000 ounces, and the Hidden Valley mine in Papua New Guinea.

Seek (SEK) was the overall worst performing stock taking in a 13.95 percent decrease. It was a mixture of gaming machine manufacturing, support services, gold mining and Internet job recruitment companies who were among the worst performing stocks for the week 17 of 2008 on the Australian sharemarket: Aristocrat (ALL), Brambles (BXB), Newcrest (NCM), Seek (SEK), Sino Gold (SGX). These worst performing stocks for the week 17 recorded losses above 11.89 percent by the end of the trading week.

Riversdale (RIV) was the overall best performing shares on the Australian sharemarket taking in a 19.4 percent increase. Among the best performing companies for the past week (week 10 of 2008) on the Australian sharemarket were a mixture of mining and chemical: Incitec Pivot (IPL), Dyno Noble (DXL), Newcrest (NCM), Riversdale (RIV), Western Areas (WSA), Energy Resources of Australia (ERA). Five out of best six performing stocks for indices were mining companies and it was the highlight of the trading week. This clearly indicates the progress achieved by Australian mining companies.

Rio Tinto (RIO) was the overall best performing stock taking in a 17.9 percent increase. Among the best performing stocks for the past week (week 45 of 2007) on the Australian sharemarket were a mixture of mining, technology and farming products manufacturers: Rio Tinto (RIO), Newcrest (NCM), Computershare (CPU), Bolnisi Gold (BSG), Nufarm (NUF). The above stocks secured gains higher than 7.5 percent at the end of the trading week.

Pan Australian Resources (PNA) was the overall best performing stock taking in a 13.09 percent increase. Among the best performing companies for the week 42 of 2007 on the Australian sharemarket were a mixture of energy, metal & mining, drilling services and agribusiness: Paladin Energy (PDN), Newcrest (NCM), Boart Longyear (BLY), Pan Australian Resources (PNA), AWB (AWB), Mt. Gibson Iron (MGX). All the above best performing stocks for week 42 managed more than 5 percent gain by the end of the trading week. The week’s highlight was the majority of metal and mining companies.

Newcrest (NCM) was the best performing stock on the Australian Stock Exchange's ASX100 index (Winner of the week for week 38 of 2007) gaining $3.76 or 15.161 percent this week, closing the weeks' trade at $28.56. Aussie dollar closed the week strongly at against the greenback at US 86.83 cents. Gold closed at $736.60. The Australian Stock Exchange All Ordinaries closed 6371.2. Finally, the ASX200 index closed at 6357.8. Read a previous Newcrest (NCM) recommendation.

Sino Gold (SGX) was the overall best performing stock taking in a 20.67 percent increase. Among the best performing companies for the past week (week 38 of 2007) on the Australian sharemarket were a mixture of oil & gas, metal and mining: Newcrest (NCM), Lihir Gold (LHG), Oil Search (OSH), Sino Gold (SGX), Sally Malay (SMY), Western Areas (WSA). All the above best performing stocks for week 38 managed more than 13.5 percent gain by the end of the trading week. The majority of companies in this list were mining companies.