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May 19, 2008 Dear Friend, Enclosed are our regular "Spot Markets" reports discussing the past week's demand, supply, inventory and price events, a "Gold Industry" report describing under measurement of inflation and reviewing 94 nations for which the World Bank estimated over a 6% inflation rate in April 2008, a Teck Cominco report for the Overweight stock raising our earnings estimate to $4.37 for 2008 and reviewing three mine visits in South America and an Xstrata report discussing three of their copper projects in South America. We will be in Bolivia the next four days visiting Coeur D'Alene Mines and Apex Silver. Faithfully, John Tumazos |
Copyright © 2008 John Tumazos Very Independent Research,
LLC
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