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domenica 26 luglio 2015

Stringer&Ng (Bloomberg): Protezione dalla rotta dell'oro: il porto sicuro dei miners australiani (Newcrest)


Il Dollaro australiano è sceso ai minimi da 6 anni e quindi, nonostante il calo del prezzo dell'oro, in AUD l'oro è persino salito, di un 8% contro un -16% in Dollari USD nell'ultimo anno.  

Questo favorisce i miners australiani con operations da quelle parti 


MineWeb - Shelter from gold rout: Australian miners provide safe haven
David Stringer & Jasmine Ng (Bloomberg) | 24 July 2015

As gold prices have sunk to the lowest level since 2010, canny investors are seeking refuge in Australian gold mining stocks.

The key is the plunging Australia currency that’s helping local producers boost margins even as the US-dollar denominated metal slides. While spot gold tumbled 16% in the past year, the metal’s price in Australian-dollar terms has risen about 8%.

That’s helped the S&P/ASX All Ordinaries Gold Index of 21 Australian miners gain 12% this year as of Thursday, as the benchmark Philadelphia Stock Exchange Gold and Silver Index slumped 31%.

Suppliers in Australia, the second-largest producing nation, benefit by selling the metal in US dollars while their costs and profits are mostly denominated in the weaker local currency. The Aussie fell Friday to a six-year low.

“A weak Australian dollar against the US dollar powerfully expands Aussie miner margins,” William Kaye, the Hong Kong-based owner of The Pacific Group Ltd. and chief investment officer of its Greater Asian hedge fund, said in an e-mailed response to questions. This would make Australian miners attractive to investors, he said.

Newcrest Mining Ltd., Australia’s largest producer, said Thursday its margin increased 13% in the year through June as it raised output. (ecc.)

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Insomma, il Dollaro Aussie è sceso ai minimi da 6 anni e quindi nonostante il calo del prezzo dell'oro in AUD l'oro è persino salito, di un 8% contro un -16% in Dollari USD nell'ultimo anno. 

Vedere anche questo post su Newcrest Mining (che però è quotata a NY solo in ADR over the counter):

MineWeb - Newcrest gold output rises 6% to beat estimates
David Stringer (Bloomberg) | 23 July 2015
 

Newcrest Mining Ltd. said fourth-quarter output jumped 6 percent, beating estimates, as production rose at its biggest mines in Australia and Papua New Guinea.

Gold production was 673,542 ounces in the three months ended June 30, compared to 636,736 ounces a year earlier, the Melbourne-based company said Thursday in a statement. That beat a median forecast of 604,000 ounces among three analysts surveyed by Bloomberg.

Australia’s biggest gold producer said its margin increased 13 percent in the year through June 30. Its realized gold price fell to $1,236 an ounce from $1,292, it said.

Gold slumped this week to the lowest since 2010 on the prospect of U.S. interest rates rising this year, which will dent bullion’s appeal as it doesn’t pay interest. Bullion for immediate delivery declined to a low of $1,086.18 on Monday. The metal was little changed at $1,094.40 at 9:40 a.m. in Sydney.

Gold could fall below $1,000 for the first time since 2009, Jeffrey Currie, Goldman Sachs Group Inc.’s New York-based head of commodities research, told Bloomberg in an interview Tuesday.

(...) The producer is advancing an exploration program and has added potential growth projects in Australia’s Queensland and New Zealand, it said in the statement. “The search for the next generation of discoveries gained momentum,” in the June quarter, Newcrest said.

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