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More on Newmont Mining (NEM): Q3 misses across the board on a decline in overall revenue. Net...

More on Newmont Mining (NEM): Q3 misses across the board on a decline in overall revenue. Net earnings also slipped 26% Y/Y, as the gold miner suffered from lower gold and copper output, higher expenses, plus writedown and restructuring charges. The company also lowered full-year gold and copper production forecasts, now expecting them to come in at the low end of guidance. It earlier forecast gold production of 5M to 5.1M ounces and copper production of 145M to 165M pounds.
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Comments (1)
  • mickmars
    , contributor
    Comments (1323) | Send Message
     
    After Barrick's big whiff yesterday, Newmont's miss points out that the "easy gold" is long gone....forever. Mining costs are rising at the same rate, or higher, as the gold that's being mined.

     

    Looks like we need to own more of the physical metals, and less of the miners.
    2 Nov 2012, 06:29 AM Reply Like
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