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June 16, 2010 Dear Friend, Following Newmont’s investor day in Boston we have increased our price target and investment outlook to reflect the value of future reserve additions for projects that are not delineated enough at this time to add to our production estimates such as Euronimba iron ore. Additionally, we revised our commodity price forecasts recently and have updated our earnings estimates for all of the gold companies we cover to reflect these changes. We have excluded Greystar from our gold industry report as we made no changes to our long term gold price forecast of $1,050 per ounce. Faithfully, Skip Carpenter |
Copyright © 2008 John Tumazos Very Independent Research,
LLC
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