An independent review of Newcrest Mining’s Limited
(ASX:NCM) disclosure and investor relations practices has not found a systemic failure in the miner's communication with the market.
Newcrest says Dr Maurice Newman had finalised his report, concluding the group takes its continuous disclosure obligations very seriously and has processes in place to reinforce this.
Dr Newman says the usual protocol for completing such a review is to look for systemic failure or tell-tale signs which indicate a repeated lapse in laid-down procedures and protocols, but he says this was not the conclusion he reached in relation to Newcrest.
Newcrest chairman Don Mercer says the board supported all of Dr Newman’s recommendations in principle.
Newcrest Mining booked a $5.7 billion net loss for fiscal 2013.
