https://video.morningstar.com/aus/hd/2023/230421_Mills_Newmont_hd.mp4
Key Points:
- Morningstar recently increased long-term gold price assumption to US$1,700 an ounce, up from US$1,600.
- We recently reinitiated coverage of the world's largest gold miner Newmont (NEM), which is in takeover talks with ASX-listed Newcrest (NCM)
- Newmont is interested in Newcrest because it's of its reserves. If you don't replace the reserves, you don't have a business, and Newcrest has more than two decades of reserves.
