I posted the following on Peter's blog but for those of you non-Peter followers....here goes. I found Marc Faber's unsolicited comment quite interesting:

Barrons Roundtable – Newmont Mining: I know this is not right on point but given its in Peter’s model I did want to post it for those of you who may have bought it. This was a recommendation from Fred Hickey who was in a roundtable discussion with Bill Gross, Archie McAllister, Meryl Witmer:

“My second pick is Newmont Mining [NEM], a large gold miner. It has lagged in recent years because its production has been in decline, and that’s the case with the whole gold industry. It is difficult to find gold and produce it. There are environmental issues. Declining production is an underlying positive for gold. In 2010, however, Newmont will see a change. The company is bringing on the largest gold mine in Australia. Newmont produces about 5.2 million ounces a year, and this mine will produce a million ounces a year, for 24 years. Also, Newmont will have the benefit of higher gold prices. It also has been cutting costs. The stock sells for a little less than 50. The company is expected to earn more than $3 a share this year, but that is conservative. In the third quarter of 2009, they made 79 cents, versus estimates of 55 cents. The new CEO, Richard O’Brien, is trying to keep expectations low. Newmont is going to blow away expectations in the current quarter, and as long as gold is $1,100 or higher, you’ll see some big numbers. Newmont could earn $4 a share in 2010. Put a P/E of 15 to 20 on it, and you have a significantly higher stock price.

What about 2011?

Hickey: That will depend on the price of gold. If gold goes to the levels I expect, it could earn $5 or $6 a share.

Faber: The stock is at the same level as in 2003. The gold price is up three times. This is a very cheap stock.”