Network Metals LLC

We are seeing copper’s climb continue, and it looks as if it may approach $5000 per ton in the future if near-term trends are any indication. However we will continue to stick by our story that the demand picture does not bode well for the long-term fate of copper’s recent gains. We are looking at this as part of a larger “W” recovery time frame, and we believe that this year we might be able to apply the adage “sell in May and go away” for base metals. By the end of 3Q09 or even into 4Q09 we are optimistic that we will see more sustainable recovery due to actual demand, rather than continued speculation in the face of a lack of proper fundamentals. The LME is closed for Easter Monday today.