Newcrest Mining Limited
(ASX:NCM) may face further scrutiny from ASIC over allegations it tipped analysts to a writedown weeks before an official announcement, according to media reports.
The goldminer informed the market earlier this month of $6 billion in writedowns as well as a production downgrade, but Newcrest has since faced questions about whether it selectively briefed analysts ahead of the announcement.
The miner's shares fell sharply ahead of the announcement and many analysts downgraded Newcrest before the news was made public.
Initial investigations have focused on the miner's activities immediately before the disclosure.
But media reports say the latest revelations may lead ASIC to broaden its inquiry.
Newcrest generated a net profit of $339 million in the first half of the current financial year.
