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November 1, 2009 Dear Friend,
BHP Billiton has fallen 12.5%
and Vale 9.6% from its 52-week high, while many companies with
"thin" or no profit margins have fallen 30% or so. The current
"jittery" markets penalize companies needing financing or that
"have not turned the corner yet." Really solid companies with
robust profit margins have seen small losses.
We have attached the agenda
for our November 18-19 conference in New York, and encourage you
to please RSVP if you will attend and if we can accommodate you
with one-on-one meetings with managements. We have 34
indivdiual meetings scheduled, and have 7 requests for Thompson
Creek and 6 for Teck Resources though few for the other 29
companies. In fact, there will be 15 companies present for
which no meetings have been requested yet.
I will be in Colombia
November 7-12 visiting the California-Vetas gold district
including Ventana Gold, Greystar Resources and Galway
Resources. Of course, you are welcome to join me if you wish.
Faithfully,
John C. Tumazos
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Copyright © 2008 John Tumazos Very Independent Research,
LLC
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