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November 10, 2008 Dear Friend, Tomorrow night at 6:30 pm in the restaurant of the New York Helmsley at 212 East 42nd Street we will host a small group dinner for Mr. Peng Cheng, a Chinese metals official, five CEOs and several of our loyal clients. There is room for several more of our clients if you like to come. CEOs present should be Dr. Greg Crowe of Entree Gold (Mongolian cu, au and coal), Russ Hallbauer of Taseko Mines (profitable cu and moly output in British Columbia), Chris Dundas of Duluth Metals (ni, cu, co, pt, pd and au in MN), Jonathan George of Creston Moly (mo and cu in Mexico) and Rob Hinchcliffe of Galway Resources (mo, tungsten and coal). We have over 120 people RSVPd for our conference Wednesday, and we appreciate the opportunity to present companies when share prices are low as well as high. Attached are reports on Overweight-rated International Paper (7% dividend yield) and Thompson Creek Metals in which we reaffirmed recommendations but cut earnings and price targets owing to recession impacts. The IP report discusses dividend coverage and debt schedules. The TC report was written prior to FCX's release this morning cutting current moly output at Henderson and postponing startup of moly mining Climax, CO. The third report attached is our regular weekend review of spot metals markets. PLEASE LET US KNOW IF YOUR ORGANIZATION OR FRIENDS HAVE JOB OPENINGS. One-third of our clients have had layoffs in recent months, and we are aware of experienced personnel seeking work. Faithfully, John C. Tumazos |
Copyright © 2008 John Tumazos Very Independent Research,
LLC
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