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Gold/Mining/Energy : Newmont Mining(NEM) & Newmont Gold(NGC)
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To: ahhaha who wrote (221)5/26/1999 12:56:00 AM
From: baystock  Read Replies (1) of 587
 
OK I double checked my calculations and I agree with your $3 income figure. But I did observe that the Batu Hijau project is very heavily a copper project. At $1.20 Cu and $380 Au the incremental profits from Copper are 8 times that of Gold from this project. This will cause around 25% of NEM's total income to be from Copper. This may negatively impact the future PE multiple of NEM since the market is willing to pay a higher multiple for pure gold mining companies than it does for pure copper ones. But I am not sure where a 25%/75% mix fits in terms of market perception.
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