This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Newcrest Mining Limited - Quarterly Report For The Three Months Ending 30 September 2013

MELBOURNE, Australia, Oct. 17, 2013 /CNW/ - Newcrest Mining Limited ("Newcrest") (ASX: NCM) is pleased to announce its quarterly report for the period ended 30 September 2013.

(these figures are unaudited*)

Key Points

  • Quarterly gold production of 586,573oz (27% above September 2012 quarter; 9% below June 2013 quarter)
  • Quarterly copper production of 19,632t (6% above September 2012 quarter; 14% below June 2013 quarter)
  • Average realised gold price for the Quarter of A$1,442/oz
  • An All-In Sustaining Cost^ for the Quarter of A$1,093/oz ( US$1,001/oz), below the 2013 financial year average
  • Group guidance for the 2014 financial year remains unchanged

Overview Newcrest's production for the September 2013 quarter was 586,573 ounces of gold and 19,632 tonnes of copper at an All-In Sustaining Cost of A$1,093 per ounce ( US$1,001 per ounce). Gold production for the quarter was below the June 2013 quarter (9%), as expected, and 27% higher than the prior corresponding period. At Cadia Valley, an 18% increase in mine production from the higher grade Cadia East Panel Cave 1 combined with consistent ore production from Ridgeway to deliver a 10% increase in gold production at a lower cash cost than the previous quarter. The development of Cadia East Panel Cave 2 progressed to plan during the quarter. Lihir transitioned to a significantly lower level of mining and material movement activity, with around 80% of mill feed sourced from stockpiles following the completion of the flotation plant capacity expansion. Reliability of the original plant continued to improve.

The Company maintained its focus on maximising free cash flow, with a range of initiatives to reduce operating and corporate costs and capital expenditure advanced during the quarter. The All-In Sustaining Cost for the September quarter was A$1,093 per ounce, which:

  • is A$190 per ounce (or 15%) lower than the 2013 financial year average of A$1,283 per ounce;
  • is US$1,001 per ounce, when translated at average exchange rates for the period; and
  • compares with the average realised gold price for the quarter of A$1,442 per ounce.

With the exception of Gosowong, each site achieved a reduction in All-In Sustaining Cost per ounce for the quarter as against its average All-in Sustaining Cost per ounce for the full 2013 financial year.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,793.43 +15.28 0.09%
S&P 500 2,067.28 +6.05 0.29%
NASDAQ 4,763.0430 +14.6470 0.31%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs