Markets, News & Features, Resource News
Newcrest to list on TSX by March as gold output falls
By The Australian · January 24, 2012 · 1:59 am · Leave a Comment
Click here to read the whole story or read an excerpt below.
By Robb M. Stewart
NEWCREST Mining, Australia’s largest gold producer, said today it expects to list on the Toronto Stock Exchange by March.
An application for a proposed secondary listing was lodged with the TSX last month, the Melbourne-based company said.
Newcrest today also said it produced 579,073 ounces of gold in its second quarter, down almost 20 per cent from 722,783 ounces a year earlier.
Newcrest said its cash costs in the December quarter were $US606 per ounce, up 2 per cent from the September quarter.
The company confirmed its recently updated production guidance for the 2011-12 financial year of 2.43 million to 2.55 million ounces of gold.
Copper production in the latest December quarter, of 18,171 tonnes, was down from 19,228 in the September quarter. Guidance for copper production of 75,000 to 85,000 tonnes, plus group operating costs and capital expenditure, was also maintained.
The company completed the sale of two mining assets in Australia in early November.
