03/08/2008                                      www.insidemetals.com

Vol 3, Issue 5

In This Edition...

Gold Producer News
Website Updates

Dear Brandon,

This newsletter will be published next on March 22, 2008.

IN THIS EDITION OF INSIDEMETALS

PRECIOUS METALS MARKET UPDATE

Gold closed at $976.50/oz (London Fix) on March 6, 2008. This is 2.3% higher than the $945.00/oz (London Fix) closing price on February 21, 2008, when data for the previous newsletter was gathered.

Silver closed at $20.80/oz (London Fix) on March 6, 2008. This is a 15.7% increase from the $17.98/oz (London Fix) closing price on February 21, 2008.

Platinum closed at $2230.00/oz (London Fix) on March 6, 2008. This is a 2.3% increase from the $2180.00/oz (London Fix) closing price on February 21, 2008.

Palladium closed at $535.00/oz (London Fix) March 6, 2008. This price is 3.1% higher than the $519.00/oz (London Fix) closing price on February 21, 2008.

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GEO POLITICAL VIEW

BIG OIL, BIG MINING, AND BIG TRADING STRATEGIES

Two articles in the Thursday, March 6th Wall Street Journal (WSJ), and a review of their Wednesday, March 5th, U.S. Markets Sector-by-Sector has fostered the following observations.

The top 3 sectors for the day show that Basic Resources, which includes mining was the leading performer and was up 3.35%. It was followed by Chemicals, up 1.84%, and Oil & Gas, up 1.73%. All of these reflect performance by resource and commodity based businesses.

Not unexpectedly, the 3 worst performing sectors for the day reflect the U.S. economy and consumer sentiment. These sectors were Banks, down 1.18%, Retail, down 0.30%, and Insurance, down 0.28%
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 The first article of note in the WSJ, by Russell Gold should be of interest to resource investors is that Exxon Mobil Corp. announced that it plans to spend more than $1 billion per year to explore for oil and gas. This exploration effort will be focused in politically stable countries not usually thought of as being energy rich. These countries include Germany, New Zealand, and Greenland.

Application of new technology and political stability are factors. Exxon will not abandon regions where it has been traditionally active such as the Middle East, but higher oil prices have made it harder for big Western Oil companies to operate in foreign countries. New deep drilling technology has opened more of the world's off-shore areas more amenable to exploration.
Advanced seismic and field development enhancements will lead to re-evaluation of older fields that have been abandoned because the easily produced oil was previously extracted.

The other article is Ann Davis' Glencore Holds The Key in Vale, Xsrata Deal. The mining industry is rapidly consolidating. Mining giant BHP Billiton has offered to acquire rival Rio Tinto Plc in a merger that could exceed $148 billion, and would create the third largest corporation in the world. Companhia Vale do Rio Doce, the Brazilian iron ore giant has offered to acquire Xsrata for an unconfirmed $89 billion (Reuters, February 21, 2008).

Natural resources trading giant Glencore International AG, which owns 35% of Xstrata, which is one of the fastest growing mining companies wants to exchange their 35% interest in Xstrata for a 15-18% in the new company formed by Vale. Glencore doesn't appear to be just interested in selling their interest, it wants to grain the rights to become the trader of several of Vale's lucrative metals in the manner it currently markets them for Xstrata.

While all this merger activity is ongoing, the Chinese are acquiring positions in Rio Tinto as the Aluminum Corp. of China teamed with Alcoa Inc to acquire a 12% interest in Rio Tinto to thwart the BHP bid that would form a behemoth that could be very effective at setting the price of iron ore and other commodities.

All these proposed deals and positions being taken continue to say that commodities will continue to climb as the U.S. economy weakens as reflected by gold approaching $1,000 per ounce, silver exceeding $20 per ounce, platinum holding over $2,000 per ounce, and a record low U.S. dollar compared to the euro.

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NYSE GOLD PRODUCER NEWS

February 27, 2008: Goldcorp Inc (GG) announced that Barrick Gold Corporation (ABX) submitted a feasibility study and Project Notice to the Government of the Dominican Republic for the Pueblo Viejo project. Pueblo Viejo is one of the largest undeveloped gold resources in the world. GG owns 40% of the project, with ABX, owning the other 60%. GG's share of gold production is expected to be about 400,000 ounces per year in the first five full years of production at a total cash cost of approximately $250 per ounce. Cash cost estimates do not include the potential benefit of a zinc recovery circuit, which continues to be evaluated. The construction period to first gold production is expected to be about three and a half years. GG's portion of the project capital is approximately $1.08 billion.

February 28, 2008: Coeur d'Alene Mines (CDE) released results from its 2007 $14.9 million exploration program. Due to the success and the addition of the Palmarejo Project in late 2007, CDE has increased its 2008 exploration budget to a $27.6 million, with almost a third of that amount allocated to Palmarejo. Palmarejo production is expected to begin next year at approximately 10.4 million ounces of silver and 115,000 ounces of gold per year. Highlights from the program include High-grade drill results from Guadalupe Norte at Palmarejo, Mexico and from the new Los Bancos target north of Guadalupe. Nearly eleven million new silver mineral resource ounces have been identified in two of five new veins discovered in the Cerro Bayo District, Chile. At the new Betty Sur deposit at the Martha Deposit in Argentina, high-grade silver vein have been discovered. New silver, gold and base metal mineralization at the Rochester mine, Nevada. Favorable results from exploration on the company's properties in the Lake Victoria Gold Belt of Tanzania. Full results can be seen in CDE's press release.

March 3, 2008: Compania de Minas Buenaventura (BVN) reported that operations at its four operating mines Orcopampa, Uchucchacua, Antapite and Caraveli resumed March 1, 2008 at midnight, after the conclusion of a 72 hour strike, which began on February 27, 2008.

March 3, 2008: Harmony Gold Mining Ltd (HMY) has entered into two separate transactions with African Precious Minerals (APM) and its subsidiary Taung Gold Holdings Ltd (Taung). Terms of the agreement include 1.5 million ordinary APM shares and 1.5 million half warrants. Based on capital raised by APM in the 4th quarter the share and warrants are estimated to be worth about $7.5 million. Also, HMY will receive a 1.5% Net Smelter Royalty on all minerals extracted from the prospecting right area with a maximum amount equal to R150 million. In addition to the previous agreement HMY also entered into earn-in agreements with APM for the Evander 6 shaft and Twistdraai assets in the Evander basin.

The agreement calls for completion of a scoping study by APM within two years with no earn-in, and. completion of a pre-feasibility study within three years. At least 70% of the ounces during the pay-back period in the study must be of the indicated resource class and three-fifths (3/5) of the agreed minimum requirement for exploration work plan must be completed for APM to earn-in 25%. A full bankable feasibility study must be completed within five years. At least 100% of the ounces during the payback period in the study must be of the indicated resource class and the agreed minimum requirement exploration work plan must be completed for APM to earn-in 52%. On completion of the bankable feasibility study, if both parties agree, an unincorporated joint venture (UJV) will be created and Harmony will share 48% and APM, 52% of the development costs and revenue of the project in accordance with the economic interests in the project(s).

AMEX GOLD PRODUCER NEWS

February 28, 2008: Aurizon Mines Ltd (AZK) released drilling results from the East Block of its Joanna project, located in northwestern, Quebec. AZK drilled 48 additional holes totaling nearly 39,000 feet, to confirm the continuity, grade and thickness of the mineralized zone. Assay results from 40 of 48 holes have been received. Seventeen of the holes had grades greater than .029 ounces of gold per ton over a minimum true thickness of 79 feet. Full results can be seen in AZK's press release.

February 28, 2008: Canyon Resources Corp (CAU) announced the results of a 15 hole 4,800 foot drilling program completed in January at its Cecil R deposit near its Briggs Mine in Inyo County, California. Highlights from this program include Hole CR07-5 with 25 feet of 0.039 ounces of gold per ton. Hole CR07-9 with 25 feet of 0.045 ounces per ton. Hole CR07-12 with 30 feet of 0.025 ounces per ton. Hole CR08-13 with 30 feet of 0.032 ounces per ton and a second interval of 50 feet of 0.024 ounces per ton. Full results can be seen in CAU's press release. These results support the company's belief that Cecil R, as a satellite deposit to the Briggs mine could add mine life and profitability to Briggs if surface and underground development is advanced.

February 28, 2008: Golden Star Resources Ltd (GSS) released and updated mineral reserve and mineral resource update for 2007. Reserves now total 68.67 million tons of ore with a grade of 0.072 ounces per ton yielding 4.93 million ounces of gold. This represents and 19% increase over last years reserves.

February 29, 2008: Apollo Gold Corp (AGT) announced that it has increased its mineral reserves by over 300,000 ounces of gold at its Black Fox project located near Timmons, Ontario. Based on this new study, reserves now total 7.14 million tons that will contain 1.33 million ounces of gold.

February 29, 2008: Pacific Rim Mining Corp (PMU) has closed its previously announced private placement financing. A total of CDN$7,046,550 was raised through issuing 6,711,000 units, consisting of one common share and one share purchase warrant, with each warrant exercisable into one share for a period of 18 months at an exercise price of $1.35. Further details of the terms of the financing are available in PMU's news releases dated February 6 and February 19, 2008. PMU has also issued 350,350 warrants and paid $367,867.50 in cash to certain finders in connection with the private placement. Each finder's warrant is exercisable into one share for a period of 18 months at an exercise price of $1.11.
The shares, warrants, finder's warrants are subject to a four-month hold period as required per applicable Canadian securities law, expiring June 30, 2008.

March 3, 2008: Endeavour Silver Corp (EXK) announced an updated NI 43-101 increase to its year end 2007 reserve/resource at its 3 active silver mines and projects in Mexico. Silver reserves were increased by 50% to 14.9 million ounces of silver. Silver equivalent reserves have also increased by 11%. Total ore has increased to 1.47 million tons with a grade of 10.18 ounces per ton of silver yielding 14.889 million ounces. EXK's gold reserves now total 28,684 ounces.

March 6, 2008: Eldorado Gold Corp (EGO) announced that their Kisladag mine in Western Turkey re-opened and that production activities are underway. The decision rendered by the Sixth Department of the High Administrative Court in Ankara, Turkey on February 6, 2008 and actions taken by the related government offices have allowed the resumption of all production activities at the Kisladag mine.

NASDAQ GOLD PRODUCER NEWS

February 22, 2008: Royal Gold Inc (RGLD) has completed the acquisition of three royalties from AngloGold Ashanti Exploration Inc for $13.75 million. The acquisition includes three royalties: 1) a 2.0% net smelter return royalty (NSR) on the Marigold mine, located on the Battle Mountain-Eureka trend in Nevada, and operated by Goldcorp Inc (GG); a 2.0-4.0% sliding- scale NSR royalty on the El Chanate mine, located in Sonora, Mexico and operated by Capital Gold, Inc., and a 10.0% net profits interest royalty, also on the El Chanate mine. Full details can be seen in RGLD's press release.

February 28, 2008: Lihir Gold Ltd (LIHR) is going to proceed with a major upgrade of its Lihir Island operations in Papua New Guinea, lifting gold production capacity to approximately 1 million ounces per year in 2011. This decision is based off a 12-month feasibility study. Highlights of this study include: increased gold production by an average 240,000 ounces per year over the life of the operation, increased output over the period from 2011 to 2021 by 2.35 million ounces to more than 10 million ounces, reduced costs of production by approximately $80 per ounce following commissioning in 2011 and an investment of $696 million to lift process plant capacity to match the current mining rate. Full results and plans for the upgrade can be seen in LIHR's press release.

INSIDEMETALS.COM WEBSITE UPDATES

InsideMetals' Quarterly Gold Stocks ScoreCard: Precious metals investors are now able to purchase online, for $49.95, InsideMetals' Gold Stocks ScoreCard which presents a 34 company summary of 3rd Quarter 2007 Operating & Financial results as a PDF file that will be e-mailed to you. This Gold Stocks Scorecard for the 3rd quarter presents in a concise manner, revenue, earnings, ounces produced, ounces sold during the quarter, and a forecast of ounces produced in the 4th quarter based on company forecasts or calculated by InsideMetals based on company guidance for 2007 and actual reported 2007 quarterly results.

Companies that were profitable in the 3rd quarter should report profits in the 4th quarter, or should have had positive stock gains since the average price of gold in the 4th quarter (London Fix) was $106 per ounce higher than the average price of gold in the 3rd quarter (London Fix). The same is true for silver producing companies as the price of silver was $1.52 an ounce higher in the 4th quarter. Silver prices in the 3rd quarter averaged $12.70 an ounce (London Fix) while silver in the 4th quarter averaged $14.22 an ounce (London Fix).

The data for the 34 Gold Producer Stocks is presented as in the example below for Pan American Silver Corp. Compiling this data for all 34 companies represents a significant number of hours and can be purchased for only $49.95

At the beginning of the 3rd quarter PAAS could have been purchased for ~$26.75 per share, and could have been sold at year end for ~$35.00 per share. This would have resulted in a 30.8% gain. On January 10th, the share price of PAAS reached as high as $38.10. A PAAS share price of $37.00 would amount to an additional gain of $2.00 per share or an additional 7.4%. PAAS had forecast that its 4th quarter production would exceed its 3rd quarter production. PAAS has reported a record 4th quarter production of 5.1 million ounces of silver on January 23rd, and the stock moved back up $37.58 before a month end sell off.

There are several other companies identified in the in the Quarterly Gold Stocks ScoreCard that should produce better returns based on 4th quarter production forecasts. To date 24 of the 34 InsideMetals' Gold Producer Stocks have reported their 4th quarter production, and 15 of the 24 exceeded their production forecast. The average stock price gain for these 15 companies from the beginning of the year, to date, is up an average of 24%. The companies that didn't make their forecast only had gains that averaged 8.%.

Purchase the Quarterly Gold Stocks ScoreCard before the remaining 10 companies report their 4th quarter production and earnings.

Investors interested in purchasing the Quarterly Gold Stocks ScoreCard and receiving the PDF by e-mail can check the Home Page of the InsideMetals.com website for a Shopping Cart link. Investor's who wish to order the PDF with their credit card by telephone can call

Paid Subscriber's Resources: The Business Summary for Gold Field Ltd. (GFI) has been updated on the website to reflect its reported operating and financial results for the 1st quarter of 2008. GFI is on a June to June fiscal year.

Paid subscribers can view this update by clicking the "All Gold Stocks" button bar under the "Subscribers Resource" area on the left margin of the website. This will take the user to the Index of listed gold companies where the subscriber can then use the "Quick Nav Bar" on the Index Page and then click on "B" to view the Business Summary for the requested company.

Potential subscribers can learn more about the Reports and the "Gold Company Quick Nav Bar" by going to "Tutorials" and clicking on the "About the Reports Bar." Clicking on the "How to use InsideMetals" bar in the Tutorials section will explain many of the useful features that InsideMetals.com offers to both Free and Paid Subscribers.

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We hope you have enjoyed our newsletter.

The newsletter will be published next on February 9, 2008