Norman Levine Newmont Mining NMC-T HOLD Dec 05, 2006

He would be inclined to cover any short. He thinks they have seen the lows in gold. These may be overdue for a pop. Should see $34+ when earnings start to come out. The seasonal trade is setting up.

They are saying the ABX-T offer is just not good enough. It wants to stick with the plan with G-T to put together a joint venture for the Nevada assets which is really what ABX-T was after. There is key resistance at $1175 in gold. Over the last 6 months we were bottoming in August and have gathered steam ever since. Shorts scrambled to cover their positions. To go above neutral into bullish we have to get above $1375 and are due for a pullback.

He thinks gold will likely go higher. NMC is one of the largest miners in Canada. He has been favoring KL for his clients as well.

He thinks the macro fundamentals for gold are positive for the first time in a while. He is adding it to his portfolio. We are crossing into a new paradigm with how much government support is driving this market. There will eventually be a cost for this and gold is a good hedge to the "fiscal recklessness". He purchased ABX, because of the dividend yield that went with it.

He's very bullish copper which will be lifted by China's reopening and strong demand to come. This is on his buy list.