STOCKCHASE

Nickel, oil and gas with coal in Western Canada. Cash cost on nickel is about $2.25. Even if you inflate it to $3, it is going to make $1. Very cheap stock. Wouldn't rush out to buy it but this is one is going to ride through this market.

2008-09-18

Comment

6.690

Poor man's Teck Cominco (TCK.B-T). A bunch of nice assets including coal, oil and nickel. Pretty cheap because of the Cuban discount. On his radar screen. People are concerned that European and US recessions will reduce commodity prices. Emerging nations has not reduced commodity consumption. The stock will be higher in a year’s time.

2008-09-17

Comment

7.400

Benj Gallander

Stock is just reflecting what is going on in the commodity market. Doesn't know the financials. If you own, look at their debt load to see if it is very high relative to revenues.

2008-09-15

TOP PICK

7.200

Lyle Stein

Cyclical that has fallen off the table. Asset value of its coal, oil/gas, nickel and Cuban businesses is north of $20. Earnings power of $2 a share. Putting this one away for the future.

2008-09-09

DON'T BUY

7.840

This one is in the basics material camp and he is not there right now. The tide is going out against you.

2008-09-08

DON'T BUY

9.550

(Market Call Minute.) Sold in May because of the rapidly declining profitability.

2008-08-29

PARTIAL BUY

9.690

Robert Floyd

A lot of base metals have contracted quite dramatically along with commodity prices. Would consider adding on a little here. Have diverse assets such as nickel, gas, etc.

2008-08-21

TOP PICK

9.570

(A Top Pick Aug7/07. Down 41%.) In a raging bull market, it was cheaper than anything else. When it ran up to $18, and nickel turned over, he got out.

2008-08-20

BUY

9.570

Great cash flows. Have coal and potash in Canada. Have a tremendous relationship in Cuba.

2008-08-20

BUY

9.160

Equal mixture of oil, coal and nickel. Nickel and oil prices have been weak although coal has been quite good. On a commodity turn around there should be a good bounce.

2008-08-18

BUY

9.780

Michael Sprung

(Market Call Minute.) Has started looking at this one. Production of nickel and cobalt could be going up significantly over the next couple of years.

2008-08-14

Comment

10.190

Sees the possibility of somebody taking their steam coal assets off their hands and then using the money to further expand into nickel, oil and gas. Projected cash flow is going to decline over the next 2 years.

2008-08-05

WEAK BUY

10.590

John O'Connell, CFA

Hitting a 52 week low. Nickel has been challenged recently. Have some wonderful assets. Oil/gas situation in Cuba may be improving in time. Would prefer Teck Cominco (TCK.B-T) or BHP Billiton (BHP-N).

2008-07-31

Comment

11.070

Roughly a third coal, a third oil and a third nickel. Just reported and the coal is up, oil was up very sharply and offset the decline in nickel. Looks quite cheap. Have the largest undeveloped coal acreage in Alberta.

2008-07-30

PAST TOP PICK

15.560

(A Top Pick July 16/07. Down 5%.) Other stocks in the materials sector that he would prefer. ROE deteriorated so he sold his holdings.

2008-06-27

TOP PICK

16.600

Produce 30,000 barrels a day in Cuba. Crappy oil but there is tremendous potential. Expects the new Democratic government in the US could ease restrictions. Largest producer of thermal coal in Canada. Low multiple.

2008-06-20

BUY

14.090

Gordon Higgins, CA, MBA, CFA

(Market Call Minute.) Model price is $25.83, an 80% positive differential.

2008-06-11

BUY on WEAKNESS

15.210

Robert Floyd

Assets in Cuba, Canada. Likes the company. Waiting for further pullback before buying. May see summer weakness.

2008-05-30

BUY

15.180

Pierre Bernard

Having their shareholder meeting tomorrow and he is not expecting much from this. This is a good proxy of what you see in the commodity field. Cuba will eventually change and this company will benefit.

2008-05-21

BUY

14.050

Michael Sprung

(Market Call Minute.) Just put out their earnings, which were right on expectations. Well managed company.

2008-04-30

Comment

14.890

David Driscoll

At these levels, it all depends on if there is any capitulation in the commodities market. They do have a wide body of resources in their portfolio, so there is a little bit more diversification. Would hold off on this one.

2008-04-23

Comment

14.970

People hoped that this would split up the mining assets from the oil/gas assets. The issue with this is that each company would be small and where would you put the debt. Looking at commodities, it could continue to do well.

2008-04-17

BUY

14.970

A terrific company, not only for the coal play but also the things it is doing in Cuba. Has nickel exposure as well.

2008-04-17

BUY

14.620

Trading at a fairly large discount to NAV. There is a little bit of a discount for Cuba. Even if you exclude the Cuban assets, it is much cheaper than anything else. Below $15 looks quite interesting.

2008-04-11

TOP PICK

14.170

Very much impressed. Looks like it is going to be able to get the laterite nickel project under way and into production in Madagascar. It has great expertise in dealing with communities.

2008-04-01

BUY

14.300

Likes the company. They've just done an equity deal so they will be under pressure for the next two or three weeks as that volume goes through the market.

2008-03-19

BUY

16.240

It has a couple of drivers that make it interesting. Likes its exposure to coal and coal prices are extremely strong. Also has growth in its metal businesses, which is going to grow dramatically over the next 4 years, both in nickel and cobalt. Has had a very volatile share price pattern. He prefers stocks that have a nice orderly projection from a share standpoint.

2008-03-03

Comment

17.200

Just had a small run because of the RBC putting it on the Buy list. Terrific management. His interest is mainly on the coal side as management is looking to do some interesting things to get rid of emissions from coal. An interesting speculation.

2008-02-28

BUY

16.650

Alex Ruus

Has had a good rally in the last month or so based on the political changes going on in Cuba. Very cheap at under 10X earnings. 1% dividend yield. Very diversified. A little speculative, but you would be quite safe owning it here.

2008-02-25

BUY

14.550

John Stephenson

A great name. Has a lot of exposure to Cuba so it is hard to see it been taken over. Very inexpensive on a cash flow multiple basis. You can buy this one, hold it, add to your holdings but just be patient.

2008-02-08

BUY

13.890

Alex Ruus

(Market Call Minute.) Likes it. Cheap. Leverage to metals, oil and emergence of Cuba over the next several years.

2008-02-04

TOP PICK

13.580

Gearing his portfolio on where he thinks the world will be in 2010 and 2011. Very inexpensive. Cuban risk, which the market is always discounting. Making tons of money. Might be slight weakness in nickel markets, but it has a fantastic growth profile going forward over the next 3 years.

2008-01-17

BUY

12.850

Has come down quite sharply and is in a Buy zone. Well-run company. A commodity company so has suffered with some of the sell off.

2007-12-21

HOLD

14.150

Did an ambitious undertaking of the acquisition of the Ambatovy project in Madagascar. Probably a good Hold here.

2007-12-12

BUY

13.900

Buy, diversified portfolio of materials.

2007-11-19

WATCH

17.460

They have a diversified collection of assets. They have strong earnings. He does not own right now, but it is on their radar screen.

2007-10-29

DON'T BUY

15.910

Ross Healy

Continues to have a Cuban overhang. His Fair Market Value estimate has been falling quite steadily. Possibly a 15% to 20% visible upside and then it runs into a level at about 1.25% BV, where they've had an awful time getting through.

2007-10-05

BUY

15.410

Paul Gardner, CFA

Likes their assets in Saskatchewan. Own the largest coal deposits in Canada. Have oil/gas interests in Cuba, which gives it a discount to its NAV. The cheapest mining stock out there.

2007-10-03

DON'T BUY

15.260

Gordon Higgins, CA, MBA, CFA

Not buying in this space right now.

2007-09-19

Comment

15.690

Have oil and nickel assets. Opening a new nickel mine in Madagascar. Will triple their nickel production by 2012. Trades at a discount because of its Cuban assets. You might be better off buying some pure plays in nickel.

2007-09-12

BUY

15.090

His model price is $31.24 giving it an upside of 108%.

2007-08-30

TOP PICK

15.790

Although nickel has dropped in price, this stock has gone up. Has a $24 NAV. Fantastic management. Long-term, 10-year play that's cheap.

2007-08-07

Comment

16.300

Making an acquisition and their balance sheets will change a lot. Everything looks fine right now, but is waiting to see the new balance sheet. Current model price is $30.97, which is a 90% possible upside.

2007-07-27

BUY

16.970

Alex Ruus

One of the cheapest diversified resource companies. They are in nickel, oil/gas and coal.

2007-07-18

TOP PICK

16.560

Has done very well, but not as well as some of the other material stocks. ROE level is around 18%. 2nd fastest profit growth in this sector and 3rd fastest within the TSX. 7.8 X PE.

2007-07-16

Comment

16.000

Bill Carrigan

In a good group. The sector is in favour. Trend has been upwards. It could go higher.

2007-07-10

BUY

16.050

Jeff Parent

Likes the stock because it is in the right sector. Sees support and feels it is going up. Good entry point.

2007-07-06

DON'T BUY

15.710

John Zechner

Acquisition of Dynatec (DY-T) will be a little dilutive in the short-term. Feels the nickel market has some problems ahead and is looking for nickel prices to fall 50% in the next 2 years. Thermal coal is looking very good right now, which might offset some of it.

2007-06-18

BUY

15.130

The cheapest stock is this one. He is currently looking at it, and thinks he is going to buy it. One year goal is $18

2007-06-05

TOP PICK

15.560

The cost of producing copper is 40 cents, and it's selling for 3 dollars. Still making tons of money, but is undervalued. Can own for a long period of time. Is very profitable.

2007-05-31

WAIT

15.300

Acquiring Dynatek (DY-T). The only looks at balance sheets after-the-fact so when the two companies come together, that would be when he would have looked at it. Before the merger, his model price was $32.13, a 110% positive differential.

2007-05-24

Comment

15.900

Norman Levine

This stock is mostly nickel. Probably OK.

2007-05-18

BUY on WEAKNESS

17.100

Acquiring Dynatec (DY-T), a nickel deposit in Madagascar, which doesn't come on stream for 2-3 years. Two problems. You don't get anything for 2-3 years and you are buying it with stock. Longer term, the outlook is really bright.

2007-05-09

Comment

16.180

And interesting grab bag of assets. Have some assets offshore Cuba that could be enormously valuable. Very smart management. You never know what the US might do, which is a little bit scary.

2007-05-08

TOP PICK

15.480

Derek Webb, CFA

Very strong nickel company. Suggests buying it through Dynitek because Sherritt just bough Dynitek. Buy Dynitek and you will get Sherritt papers.

2007-05-03

BUY

15.380

Acquiring Dynatec (DY-T), which has very good nickel assets in Madagascar. Well diversified in a number of assets.

2007-04-23

BUY on WEAKNESS

15.380

Paul Harris, CFA

The new deal with Dynatec (DY-T) makes a lot of sense for them. Trade at a slight discount because of their Cuban assets. Smart management and they execute deals very well. Would buy on any pullback.

2007-04-23

WEAK BUY

16.750

Nickel oil and coal in Cuba. There is a political risk aspect, so trades cheaply.

2007-03-26

Comment

15.960

Great company with great management. Focused on Cuba, which has some exciting stuff going on in offshore oil/gas. Just sold his holdings to go into other things.

2007-03-21

BUY

15.350

Like all metals stocks, it looks pretty good to him. His model price is almost $30, over 100% differential. Earnings are hugely positive here.

2007-03-08

HOLD

14.200

Robert Floyd

Have a big presence in Cuba and the death of Castro could have major effect.

2007-02-13

DON'T BUY

14.130

Chris Smith

Benefiting from what has gone on in the nickel market. Have also been doing very well with oil. If Castro should die, things might ease up a little. It has had a huge run, and wouldn't buy at this price.

2007-02-07

Comment

11.750

Jean-Francois Tardif

The significance of Cuba on this company is much less than it used to be.

2007-01-10

Comment

12.240

Wide diversity of products, nickel, coal, gold, oil, etc. Castro’s poor health is creating uncertainty.

2006-12-28

BUY

10.450

Likes the management in the commodities it is involved in.

2006-10-16

BUY

10.000

Likes the commodities they deal in. Likes management. At Price to cash flow of 3 or 4 X’s, it's one of the cheapest stocks around.

2006-09-13

BUY

11.310

The situation in Cuba is always a bit of a black cloud for them. That only a small part of their operations. The other part that has been a drag is very diversification into coal. Still likes the stock.

2006-08-16

BUY

11.300

Likes this a great deal. It has nickel, coal and oil.

2006-08-10

WATCH

11.520

Paul Gardner, CFA

Has been looking at this. It hasn’t been doing much. One of the largest nickel producers in Canada. They have the Cuban interest which will create a lot of pressure over the next couple of months which is why he is holding back.

2006-08-08

DON'T BUY

11.500

Owns their 9% bonds, which is a good risk/reward. There is still Cuban risk; more today then there was a week ago. Too risky.

2006-08-01

BUY

11.150

Michael Sprung

Will probably do fairly well over the long term. Well exposed to power, coal, nickel and a number of joint ventures. Very smart management.

2006-07-28

BUY

9.630

Paul Gardner, CFA

He owns the bonds. There is a political discount. 70% of their revenues come from Cuba. They are terrific operators.

2006-06-14

DON'T BUY

11.200

Veronika Hirsch

It has nickel, oil and coal and she prefers pure plays. They're putting their coal into an income trust and the stock has run up ahead of that.

2006-06-01

DON'T BUY

11.860

Cuba still remains the risky part of their portfolio. They have diversified back into North America. Likes the stock, but don't make it a major part of your portfolio. Still a little high.

2006-05-15

BUY on WEAKNESS

10.510

David Chapman

Has been undervalued for years. Technically, it is a very choppy stock. On a small uptrend. On a long-term chart, it looks like it could be a 3-wave up and right now into a 5-wave correction. The next down move could be a good time to pick it up.

2006-03-28

WAIT

10.710

This has a lot of merit in it because it's the type of company he likes to find where you see the shares rally right back towards the highs on the first sign of strength in energy. Wait for the sector to get a little bit more positive.

2006-03-23

VAGUE

10.500

They reported last week and the numbers were pretty good. The company trades with discount evaluation. It looks cheap now and a year from now it will probably look cheap. There might be a couple of dollars of value maybe to $12.00. There is nothing to be really concerned if you own it. He is "iffy" on this stock.

2006-03-06

HOLD

10.840

Ross Healy

There is a lot of upside potential but he is not enamoured by the management nor by its political problems with the US over its Cuban investments.

2006-02-06

BUY

9.910

Has been marking time. Still likes it. They’re expanding their production in Cuba. The Cuban connection may be a bit of a problem. They have also made a major expansion into the coal area which has gone quiet. Still likes the stock. He buys when it is under $10.

2006-01-23

DON'T BUY

10.190

A great business, but there are some political issues because of Cuba holdings. Some of the coal companies have had a harder time which is why the stock has pulled back. There are probably better ways to play coal.

2006-01-04

BUY

10.050

Ron Meisels

Had huge base from 2000 to 2003 between the $4 and $6 level. Had a breakout in early 2004 running up to $11, followed by a pullback and another run up. Has now had another pullback in Oct. So far there is nothing to worry about. It is in the very favourable commodity area. Use a stop/loss in the $9 area if you are worried.

2005-12-15

BUY

9.350

Ian Nakamoto

Likes their assets. Not sure why it dropped, but if it's a one quarter aberation, he would buy it at this price.

2005-11-02

BUY

10.050

It's just churning going sideways here. Making a fantastic amount of money. Can see it going 20% higher. Incredibly intelligent management.

2005-10-19

BUY

10.460

Still a significant amount of assets in Cuba, so there is still some risk. Have diversified into coal outside of Cuba. Have some interesting oil property off Cuba that they are still working on. OK if you have other similar stocks to offset the risk.

2005-10-12

BUY

10.650

Gordon Higgins, CA, MBA, CFA

Have some good assets. Very clever management. Seem to get on well with Cuba. Have a good nickel mine there.

2005-09-27

PAST TOP PICK

10.750

David Taylor, MBA, CFA

(A Top Pick April 25/05. Up 9%.) Still loves it. Company needs to be split up and managment recognizes that and expects there will be something in the works.

2005-08-29

WEAK BUY

11.000

Has been a great company with nickel, oil. In a sweet spot. No catalyst, no one specific property that's going to drive it up.

2005-08-11

BUY

10.700

Has diversified out of its almost pure Cuban background. Have some oil prospects in Cuba.

2005-07-28

BUY on WEAKNESS

10.760

Pretty smart management. Has diversified out of Cuba, but it still remains a potential problem for the company. Would prefer it under $10.

2005-07-22

BUY

10.540

The nickel assets in Cuba are strong. The coal assets are really quite exciting regarding income trust activity. Well run company.

2005-07-20

BUY

10.380

Have some nickel in Cuba, but the major driver is now coal which they went into 3 years ago. Pays a good dividend. The worry is the Cuban political risk which is already built into the price.

2005-07-13

DON'T BUY

10.400

Manager is brilliant and they have an interesting set of assets but doesn't like the problems they have with the US. Too much uncertainty.

2005-07-11

DON'T BUY

9.650

Visionary management. Faced with the Cuban problem. US government is a worry.

2005-06-23

BUY

9.250

John Zechner

Cheap. Part of this is due to its Cuban discount, but part of it is because of the commodities they are in.

2005-06-14

DON'T BUY

8.970

Great set of assets, bad geopolitical situation. You don't want to go twisting Uncle Sam's tail. Well managed. Terrific acquisition in the coal business. Scared of what kind of sanctions the US might impose on this company.

2005-06-09

BUY

9.150

Likes the metal and coal exposure. Good management.

2005-05-30

VAGUE

8.660

Cuba is the major problem with this company and you don't know what the US will do with people who own this company eventually. A very smart management team. Good set of assets. At the same time, coal has probably peaked.

2005-05-24

BUY

8.450

Down a fair bit with the resource group pulling back. Cheap now and would be a pretty good long term entry point.

2005-05-16

BUY on WEAKNESS

8.640

A great looking name. It's got great valuation characteristics. Very strong ROE growth. Likes it a lot, but stresses the correction we are into now will go on for a couple more months. If it came down another 10/15%, he would get very aggressive on it.

2005-05-13

WAIT

8.950