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Global Mining Investing is a reference eBook to teach investors how to think and act as investors with a underlying theme of managing risk. The book touches on a huge amount of content which heavily relies on knowledge that can only be obtained through experience...The text was engaging, as I knew the valuable outcome was to be a better thinker and investor.

While some books (such as Coulson’s An Insider’s Guide to the Mining Sector) focus on one particular commodity this book (Global Mining Investing) attempts (and does well) to cover all types of mining and commodities.

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Friday, November 23, 2007

Sumitomo Metal Mining (TSE.5713)

In recent times the weakness in the USD has culminated in a stronger JPY, but also a weakening Japanese equity market. Along with the broader selling down of the Japanese market to the 15,000 level, we have seen Sumitomo Metal Mining (TSE code 5713) take a dive. This is an unjustified sell-down as the stock has mostly offshore exposure to growing metal production. They have operating gold, copper & nickel mines in a range of countries, as well as smelting/refinery activities in Japan, and passive stakes in a multitude of foreign projects and companies related to mining.
As far as technical analysis is concerned, Sumitomo has pulled back to an important technical support level around Y1950, and have since rallied up to Y2050. There is easy upside to Y3000 before we see any sign of resistance. BUY. Follow the stock at http://quote.yahoo.co.jp/q?s=5713.t&d=c&k=c3&a=v&p=m65,m130,s&t=1y&l=off&z=m&q=c&h=on
Posted by Andrew Sheldon at 7:52 PM
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