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December 30, 2007 Dear Friend, Best wishes for 2008. Enclosed you will find our Spot Market discussion in which we reiterate our Overweight ratings for a number of Gold and Nonferrous Base Metals shares. We are encouraged at the prospects for dollar weakness or further interest rate cuts in the near-term, and in the drawdowns to aluminum, copper, steel and stainless steel inventories in 2007. Further, we recirculated our November 2007 report reviewing historic gold price records in view of the Friday gold price close within $11 per oz of the January 21, 1980 level. Faithfully yours, John C. Tumazos |
Copyright © 2008 John Tumazos Very Independent Research,
LLC
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