We expect earnings to improve sequentially in 2006 predicated on higher copper and zinc price realizations.
Tony Lesiak
We have revised our target price from 7 US to 8.50 US to reflect significantly higher synergy and exploration potential at Red Lake despite the higher purchase price.
potential exploration price red
May be the San Martin mine might be closing a year earlier than expected. It's a modest negative.
negative
price realizations
Similar to the oil sector in 2003-2004, we believe long-term pricing or sustainability assumptions may be shifting in the metals.
sustainability assumptions oil
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