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Gold/Mining/Energy : Gold Price Monitor

GDXJ 98.59

-2.8%

Nov 13 4:00 PM EST

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To: Ken Benes who wrote (81871)	2/11/2002 3:45:42 PM
From: Ken Benes	Read Replies (2) of 116759

Prudential analyst John Tumazos downgraded Newmont from "hold" because of concern over the company's reserve levels, as well as the stock's recent price appreciation. "Several of the deposits that Newmont classifies as reserves or resources appear suspect," he wrote in a research note, "and we worry that Newmont might buy out its partners or invest capital to build large mines that produce no gold at a profit." This from the group who was calling enron a screaming buy with nothing more than a set of cooked books behind them. Ken

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