| TOP PICK | | Aecon Group Inc | ARE-T | 17.890 | (A Top Pick June 26/07. Up 59.1%.) A name you can put away and not worry about currency or US economy. Lack of infrastructure over the last 10 years is a strong undercurrent for this company. Margins look very strong. | 2007-11-15 | |
| TOP PICK | | Ag Growth Income Fund | AFN.UN-T | 26.300 | Normally doesn't invest in income funds, but this is a unique situation. Manufacturer and distributor of agricultural equipment. With the strong undercurrent on agriculture, this company will become more of a growth company. 6.4% yield and payout ratio is quite low. Could be a special distribution. | 2007-11-15 | |
| TOP PICK | | Great Canadian Gaming Corp | GC-T | 14.560 | Not much Cdn$ exposure. Most of the assets are in British Columbia, where the 2010 Olympics are going to be held. Have the growth potential to add slots in their casinos, which are very accretive additions. | 2007-11-15 | |
| PAST TOP PICK | | Systems Xcellence | SXC-T | 12.200 | (A Top Pick June 26/07. Down 60%.) Had just announced a possible $27 million contract at that time. They also missed on their quarter. Sold her holdings when they didn't get the contract. | 2007-11-15 | |
| PAST TOP PICK | | Sandvine Corp. | SVC-T | 5.660 | (A Top Pick June 26/07. No change.) Current market correction in technology names affected the stock. Still likes. | 2007-11-15 | |
| DON'T BUY | | Breakwater Resources | BWR-T | 1.990 | This one has had a good correction because of 1) a correction in zinc prices and 2) poor results and bad news coming out of the company. Not sure this is the best zinc play in the market right now. Missing of their numbers is not a huge deal. Risk/reward is not that attractive. Prefers Farallon Resources (FAN-T). | 2007-11-15 | |
| BUY | | Farallon Resources | FAN-T | 0.740 | Near-term production would be in the next year. Located in Mexico, which is attractive from a currency perspective. Trades at a discount to its net asset value. | 2007-11-15 | |
| Comment | | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Base Metals - Commodities are correcting. Expects to see some upside, but feels you have to ride out some volatility. Focus on US economic growth is affecting commodity prices, but with continued demand coming out of China and India and the need for commodities over the long term, investors should do very well in commodity plays. Long-term outlook for copper and zinc will be positive. Zinc seems to be in a pretty firm downtrend but thinks it will bottom out here. Copper is moving more sideways and doesn't expect a big uptick in the near term. | 2007-11-15 | |
| WAIT | | Bankers Petroleum | BNK-T | 0.800 | Warrants -This is the most leveraged play, so you would be looking at some pretty decent upside if the stock turns out well. A new management team (from Rally Energy) has come in. Investors are playing the prospect that the new team will be able to surface shareholder value. May be a better opportunity after the market cools off of the excitement of the new management team. | 2007-11-15 | |
| BUY | | Hanfeng Evergreen | HF-T | 13.660 | Really likes the outlook for this company. The fertilizer they manufacture is of a higher quality and will increase the yields for the farmers, especially as the intensity and usage of grain increases in the Chinese economy. Long-term outlook is positive. | 2007-11-15 | |
| BUY on WEAKNESS | | Arise Technologies Corporation | APV-T | 2.340 | Lots of positive news/momentum in the solar space and the stock has benefited. Has been good news with respect to contracts and their ability to build out solar capacity. Also looking to new technology for higher efficiency in solar cells. Building a manufacturing plant in Germany, which always creates a little risk in the story. Be prepared for volatility over the next 6 months. | 2007-11-15 | |
| Comment | | Lundin Mining Corp. | LUN-T | 10.310 | Diversified mining. Has been quite volatile over the last year. They have been an acquirer and consolidator. You are better to own the target rather than the buyer. You might be better off in and more pure play, smaller company. | 2007-11-15 | |
| HOLD | | Equinox MineralsLtd. | EQN-T | 4.920 | On the copper side this is her choice and it also has a uranium spin also. Expects production in 2008 and thinks the stock will continue to do well through that period. There are rumours that the company may do some sort of off-tick agreement which would crystallize the uranium. | 2007-11-15 | |
| DON'T BUY | | Mosaid | MSD-T | 16.800 | 2 names operate in the intellectual property world that investors like to talk about. Mosaid (MSD-T) and Wi-Lan (WIN-T). The space is attractive, but the difficulty is forecasting the outlook. Some of their contracts come up in 2009 so you could see a cash flow shortfall. | 2007-11-15 | |
| DON'T BUY | | Wi-Lan Inc. | WIN-T | 3.130 | 2 names operate in the intellectual property world that investors like to talk about. Mosaid (MSD-T) and Wi-Lan (WIN-T). The future is hard to predict. Recently announced they are going to be announcing lawsuits. Extremely long-term you could probably do well. | 2007-11-15 | |
| WATCH | | Martinrea | MRE-T | 12.930 | Reported decent earnings, but guidance was poor for the 4th quarter. Just raised equity and the market does not like this when followed by poor guidance. However, a lot of this is related to volumes in the big 3, which is not in their control. Strong Cdn$ did not help, but if they're looking for US acquisitions, this is quite appealing. Can't see any upside right now. Watch for announcements for any US deal, which would be accretive. | 2007-11-15 | |
| SELL | | Labopharm Inc | DDS-T | 1.230 | Has been a major disappointment. Guided that approvals would be fairly easy to receive, which didn't happen. Trials have been okay, not all that inclusive, so there is a lot of uncertainty. | 2007-11-15 | |
| DON'T BUY | | Katanga Mining Ltd. | KAT-T | 16.000 | Merging with Nikanor, which is a good deal and good for the Congo. Could be an interesting play in the future. Prefers Anvil Mining (AVM-T), which is already producing copper. | 2007-11-15 | |
| Comment | | Anvil Mining Ltd. | AVM-T | 15.210 | Copper producer in the Democratic Republic of the Congo and is already producing. Fairly stable. Contracts should be okay. | 2007-11-15 | |
| WAIT | | ATS Automation | ATA-T | 4.460 | A bit of a mixed picture. You have the manufacturing side as well as the solar business. They have a lot of workout to do here. Still have to put in a new CEO. | 2007-11-15 | |
| BUY | | Thompson Creek Metals | TCM-T | 19.330 | Molybdenum play. Likes this one. Q3 earnings were not so great. Long term, she is quite bullish on Moly prices, which tends to trade with stainless steel. | 2007-11-15 | |
| DON'T BUY | | Timminco Ltd. | TIM-T | 13.150 | Attractive solar play. Very high risk. Solar valuations globally are ridiculous right now. This is being dragged up by that. If the market continues to correct, this will be one of the companies hurt the most. | 2007-11-15 | |
| BUY | | Migao Corp. | MGO-T | 9.250 | Potash play in China. Increase of yields will be beneficial for the farmers, especially as the intensity and usage of grain increases in the Chinese economy. Long-term outlook is positive. | 2007-11-15 | |
| BUY | | Uranium One Inc. | UUU-T | 8.540 | Had some production shortfalls. In spite of the fact that most uranium companies have performed quite well over the last month or so, this one has not. At a riskier stage as a producer. Most of the bad news is probably behind it now, but they still have to digest their acquisitions. Feels uranium will trade slowly upwards. | 2007-11-15 | |
| Comment | | Allen-Vanguard Corp. | VRS-T | 9.930 | Interesting technology to detect and detonate roadside bombs. Did a large financing to acquire Med-Eng. Expect to see continued contract announcements. Stock should trade up, but the one caveat is the integration issues. | 2007-11-15 | |
| TOP PICK | | Aecon Group Inc | ARE-T | 11.130 | Infrastructure. Have great contract momentum on the oil sands side. Also benefiting from the demand for infrastructure on utility side. Margins are expanding. | 2007-06-26 | |
| TOP PICK | | Systems Xcellence | SXC-T | 29.490 | Healthcare information technology. Not a cyclical business. Good underlying growth. They can sell into their customer base to offer value added to decrease costs. | 2007-06-26 | |
| TOP PICK | | Sandvine Corp. | SVC-T | 5.740 | Channelling of broadband products by prioritizing data so networks don't get bogged down. Dominating the marketplace. Looking for them to get into the DSL space. | 2007-06-26 | |
| BUY | | Aurelian Resources Inc | ARU-T | 26.680 | Has been very volatile with respect to the political situation. Long-term, they will probably be taken out. Drill results look very positive. | 2007-06-26 | |
| Comment | | Mosaid | MSD-T | 24.040 | Prefers Wi-Lan (WIN-T), which has a better outlook. There are a lot of positive changes going on in the company. Very good patent portfolio. | 2007-06-26 | |
| BUY | | Reitmans (Canada) Ltd. (A) | RET.A-T | 23.400 | Has started to trade at a premium multiple because its execution has been so strong. Expect it will continue to generate good cash flow and they'll strong dividends. | 2007-06-26 | |
| Comment | | Osprey Media Income Fund | OSP.UN-T | 7.280 | Doesn't really follow this one, but believes it's in the middle of a takeover. Not very heavily weighted on the trusts it in general. | 2007-06-26 | |
| BUY | | Yamana Gold Inc. | YRI-T | 12.630 | Has a bullish outlook on gold. Gold stocks have under performed the commodity itself. Generally, August, September tends to be positive for gold stocks. | 2007-06-26 | |
| Comment | | Hudbay Minerals Inc. | HBM-T | 21.620 | Zinc play. Found better opportunities for higher growth. The profile is not for very high growth and production. Great quality company. | 2007-06-26 | |
| BUY | | Farallon Resources | FAN-T | 0.720 | Zinc play in Mexico. Very high grade. Good growth profile. Not producing but targeted to start in July 2008. | 2007-06-26 | |
| DON'T BUY | | Open Text | OTC-T | 22.980 | Has been a strong consolidator in the software industry. Most of their growth has come through acquisition. Finds these situations to be a bit higher risk. Prefers organic growth. | 2007-06-26 | |
| BUY | | Mega Bloks | MB-T | 21.030 | A knockoff of Lego. Acquired Roseart about 2 years ago. Company was sued on the death of a child. Got involved and a recall situation. Most of the problems are behind them. Stock trades for a much cheaper multiple than comparable companies. | 2007-06-26 | |
| DON'T BUY | | Laurentian Bank | LB-T | 35.170 | Doesn't see the growth potential. Prefers Canadian Western (CWB-T), because of the Western focus. | 2007-06-26 | |
| BUY | | Canadian Western Bank | CWB-T | 28.310 | Likes the growth outlook in Alberta and B.C. More commercially based type loans. | 2007-06-26 | |
| BUY | | Cineplex Galaxy Income Fund | CGX.UN-T | 17.430 | Moving to the digital advertising models in the movies, which gives them huge margins. | 2007-06-26 | |
| HOLD | | Timminco Ltd. | TIM-T | 5.390 | Produces raw material that goes into solar panels. Has had a spike and this is not the best entry point. Long-term, the fundamentals look quite good. Going through a plant expansion right now, which always creates an element of risk. | 2007-06-26 | |
| HOLD | | Thompson Creek Metals | TCM-T | 16.570 | Her outlook on molybdenum is very positive and feels prices going to go higher. A very high-quality name. If there is a market correction, it would be a buy. | 2007-06-26 | |
| DON'T BUY | | WebTech Wireless Inc. | WEW-T | 2.430 | Tracking devices for retail and commercial vehicles. Built into Volkswagens on Brazil assembly lines. Had been a strong performer but has recently been hit with a couple of negative news events. Doesn’t look too good right now. | 2007-06-26 | |
| DON'T BUY | | Lundin Mining Corp. | LUN-T | 12.760 | The market is going into a corrective phase right now. Hasn't been as great a performer as some of the other names. Long-term, this is a great company and has a history of creating value. Dead money in the short term. | 2007-06-26 | |
| Comment | | FNX Mining Company | FNX-T | 30.400 | Has had a bit of a correction. Expects it will be consolidated. There is a ton of growth in this company. Over the long-term, expects there will be a lot of players interested in it. | 2007-06-26 | |
