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Newcrest Hands Investors a Positive Surprise on Costs -- Market Talk

29 Jan 2017 11:19 pm

2319 GMT [Dow Jones] For Australia's Newcrest Mining Ltd. (NCM.AU), the production of more byproducts such as copper at its mines resulted in a "material beat" on quarterly costs, says RBC Capital Markets. Newcrest reported an all-in sustaining cost of US$751 an ounce, versus RBC's estimate of US$817. Still, there "are additional indications that operating costs (outside of copper credits) were slightly lower than our estimates, showing continued progress on cost-out programs," it says, adding that investors should feel more comfortable about the reliability of Newcrest's operations than in recent times. (rhiannon.hoyle@wsj.com; Twitter: @RhiannonHoyle)
 

(END) Dow Jones Newswires

January 29, 2017 18:19 ET (23:19 GMT)

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