Deutsche looks to Telfer upgrade

DEUTSCHE Bank analyst Peter Rose expects Newcrest Mining to announce a substantial increase in the underground ore reserves at its developing Telfer operation in Western Australia in the first half of next year.

Deutsche looks to Telfer upgrade Deutsche looks to Telfer upgrade Deutsche looks to Telfer upgrade Deutsche looks to Telfer upgrade Deutsche looks to Telfer upgrade

Telfer Deeps contains reserves of 39 million tonnes grading 2.7gpt gold and 0.5% copper, with Rose modelling a 20Mt increase at similar grades.

Rose, who has a 12-month target price of $15.

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