My Dear Friends,

I am preparing now to leave for China. My stay in Beijing is now planned until the 7th of July. Thereafter I will be traveling to South Africa and Tanzania.

All scheduled dates are subject to change as I am involved in negotiations that require flexibility.

I will enjoy spending time in the areas where builders predominate markets, not destroyers.

My colleagues in business here would be well advised to follow suit.

My schedule in China is intense. For that reason I may be somewhat out of touch from June 28th until slightly after the July 4th weekend.

I will make every effort to continue to keep you up to date on all important market related items.

As you know, it is my opinion that gold is in a positive phase of this leg of the bull market, seeking $1224 as a first target after a normal $1000 battle.

Regards,
Jim