Newcrest shares plummet on production downgrade NEWCREST Mining shares were hammered down to a fresh four-year low after the gold miner delivered its fourth big production guidance downgrade since chief executive Greg Robinson took the reins 21 months ago. Credit Suisse analyst Michael Slifirski said the downgrade, which was mainly because of a damaged autoclave at the Lihir Island plant in Papua New Guinea, was "profoundly disappointing" and was expected to result in $177 million of lost full-year earnings, which were now expected to be $716m. Citi analysts said the downgrade would knock $313m from their full-year net profit forecast, which had now dropped to $665m.