Newcrest in profit but writedowns weigh

As foreshadowed in July, Newcrest has suffered asset impairments of $2. 35 billion, largely on the Lihir mine but there were also write downs linked to Bonikro, Hidden Valley and Telfer.

The biggest gold miner on the ASX, Newcrest Mining, has narrowly beaten analyst expectations by posting a $432 million underlying profit for 2014 financial year.

While not desirable, the impairments pale in comparison to the $6 billion round that was announced one year ago as Newcrest suffered one of the worst years in its history.

As foreshadowed in July, Newcrest has suffered asset impairments of $2. 35 billion.

Read more here: SMH

    

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>