Newcrest Mining Ltd [ASX:NCM] has increased slightly by 1.44%, this morning.
They sit on a market cap of $15.071 billion, while trading at $19.66 a share.
Newcrest mining was founded in 1966. They sell a variety of copper and gold while specialising in miningdevelopment and exploration.
They have recently allocated much of their focus into the Wafi-Golpu mine.
The Wafi-Golpu mine is a 50-50 joint venture, shared between Newcrest and Harmony Gold.
Newcrest added an additional US$170 million to predicted costs in order to develop the Wafi-Golpu copper-gold project in Papua New Guinea.
The mine is expected to last for 28 years with an 18.2% internal rate of return.
Newcrest are committed to working with their joint venture partner to further quartile production costs.
However, not all of Newcrest’s ventures have as much of a bright future as Wafi-Golpu.
The Cadia gold mine located in New South Wales was forced to shut down last year for three months, after an earthquake had once again paused operations after a dam wall breach.
The mine was forced to shut down after the earthquake which occurred back in April 2017. Newcrest did not return to the venture until July, generating a large dent into the company’s first-half profits.
Don’t Buy a Single Gold Stock Until You Read This FREE Report
Wafi mine development
The updated feasibility study on Newcrest’s market release, proposes the mining company’s overall usability of the mine.
Underground access via the Nambonga Decline will provide Newcrest with various advantages such as quicker access to underground drill platforms, which allows them to support an extensive drilling program.
The underground Workfront is more accessible, while supporting the development of productivity from the mines surface and underground.
For Money Morning
PS: If you want to lay down a little money on the hottest corner of the ASX right now�but you don�t know your way around the small-cap sector�this report is for you. Get access now (free).