STOCKCHASE

0.020

Gold: No time in history has there ever been the same circumstances that we now have, which could cause gold to shoot up substantially. Currently about $150 an ounce more than what he thinks its fair value. (His FV calculation is based on relative inflation rate of gold compared to the inflation rate of the US$.)

2009-05-29

Comment

0.020

Market: This is a sucker rally. Far more downside ahead. In an over leveraged economy like this debt cannot be repaid and we need to see this shake out and we are years away from this. Bankruptcies and change of ownership is the bottom line. Not prepared to stick his neck out much further than gold and cash.

2009-05-29

Comment

0.020

Economy: He is of the opinion that deflation is a non-event. There is zero risk of monetary or genuine deflation. Inflation is a very, very substantial risk and is almost convinced that we will see high rates of inflation in the years ahead.

2009-05-29

Comment

St Andrew Goldfields Ltd.

0.020

Oil: Looks at oil and commodities on an inflation-adjusted basis. Thinks that $70-$80 is fair value for a barrel of oil now, given the inflation we have seen. Bullish on oil after the next 6 or 12 months. Also a believer in Peak oil.

2009-05-29

SELL

Potash One Inc.

KCL-T (Dead)

3.130

Potash has held its price up because of supply reductions from Potash (POT-T) and Russians. Sceptical that they can keep that game going. Expecting a revolt in the potash sector that will bring prices down. Should tread very lightly around any company that will need funding.

2009-05-29

DON'T BUY

SAS-T

0.370

Trying to put a Timmins’ gold mine into production. Less about $100 million last year and $75 million the year before. Balance sheet is not in very good shape.

2008-04-16

DON'T BUY

Crosshair Exploration & Mining Corp.

CXX-T

0.840

Uranium price is down 50% from its highs and he doesn't think the worst is over. This company has 2 problems. The decline in the uranium prices as well as the moratorium on uranium exploration and mining in Labrador.

2008-04-16

TOP PICK

13.710

Planning on building a refinery in Placentia's Bay in Newfoundland. There hasn't been a new refinery built in North America in more than 30 years. Existing refineries cannot cope with the amount of heavy, sour crude, which means their output of gasoline and diesel is falling. This refinery will be the most advanced in the world and approximately the 8th largest. Specifically designed to refine heavy, sour crude.

2008-04-16

DON'T BUY

Stikine Gold Corp.

SKY-X

0.090

Finds this group to be overly promotional. Had a good run but totally collapsed again in price. Has a lot of stock outstanding.

2008-04-16

Comment

Nevada Geothermal Power Inc.

0.020

Gold: - Likes gold as an investment. Believes he can calculate the value just by looking at the relative inflation rate of the US$ versus the inflation rate of gold. Based on this, gold at $900 to $1000 is fair value. Inflation rate in the US, measured by M3, is rising by 17% year over year, which bodes very well for the gold price. What concerns him is the 50% rise from last August, which could result in a short-term contraction.

2008-04-16

Comment

San Gold Corporation

SGR-T

1.490

Have an operating gold mine and last year made a discovery called the Hinge zone, which has some very spectacular gold grades in it. Have the potential to substantially increase their resource base. His only caution is that gold rose 50% from August of last year so your risk relies on the price of gold.

2008-04-16

Comment

Canplats Resources Corp

CPQ-X

3.200

Made a very interesting discovery in Mexico. Initial resource, which is sitting right at surface, is an oxide cap, has the potential to be anywhere from 1 to 3 million ounces. A few deep holes going into the sulphide zone shows there are grades in the sulphide. Has the potential to go a lot higher but will need more drill holes. Top stock on his radar screen.

2008-04-16

Comment

NGP-X

1.170

Developing A geothermal project in Nevada. Well advanced in the production of the project. Has his eye on it and would be quite interested in buying it back again at some future point. A fantastic project.

2008-04-16

DON'T BUY

Yukon-Nevada Gold Corp.

YNG-T

1.570

Recently bought the Jerritt Canyon operations in Nevada. Very marginal operation so if gold had a substantial rally, this is something that could turn out a lot of cash flow, but it is so marginal that even in today's price, he doesn't know if they are making money. Too risky. Jerritt Canyon has seen its heyday.

2008-04-16

DON'T BUY

Lake Shore Gold

LSG-T

1.790

Doesn't own and would not buy at this time.

2008-02-05

HOLD

0.670

Liquidated a lot of his portfolio 2 weeks ago. 4 junior exploration companies he did not sell because of superb management teams. Miranda (MAD-X), Rimfire Minerals (RFM-X),Alteus (ALS-T), Kaminak (KAM-X) and Mirasol Resources (MRZ-X). If they fall another 50% in price, he will add to his position.

2008-02-05

HOLD

19.710

If there is a decline in crude prices, expect refining margins to come down too. This is the reason for the drop but it is a much-needed commodity. Not sure if they can finance the refinery but holding for the long-term. Superb management team. If it falls another 50%, he will add to his position.

2008-02-05

Comment

0.020

The credit market problems are very serious and profound. US Banks only have a small fraction of clients’ money in their accounts. Bank rules say they each have to have a certain percent in their vaults but because of daily transactions they may not have it so borrow from each other at the end of the day. December credit scare happened because banks had to borrow 36% of the money they were supposed to have. The highest borrowings since March 1933 when it was 46%. Last month, they borrowed over 100%, which means they have nothing. He is buying physical gold. Although your money is insured, it is only for a very small amount. Doesn't know Canadian bank requirements.

2008-02-05

TOP PICK

0.020

Physical gold. Gold is one of the most liquid markets in the world. You can rapidly convert your gold back into paper money. The only game here is to preserve your capital. If assets get cheaper, you want to have buying power.

2008-02-05

HOLD

Rimfire Minerals Corp.

RFM-X

1.200

2008-02-05

SELL

Eastern Platinum Ltd.

ELR-T

3.040

Developing a platinum project in South Africa. South Africa is undergoing a very serious energy crisis and this has hit the mining sector, which could take a long time to fix. Platinum is currently at sky-high prices and any slowdown will bring commodity prices down.

2008-02-05

Comment

Lara Exploration

LRA-X

0.800

He sold his holdings when he was liquidating most of his portfolio. No reflection on the company. A great company.

2008-02-05

HOLD

0.470

2008-02-05

HOLD

Rubicon Minerals Corporation

0.650

Has been disappointing over the last 12 months because of the rate they were releasing drill results. Has also suffered because of the credit markets. This is his leveraged speculation on the gold price going up. In a good jurisdiction and has good infrastructure. Low grade, which means it's very leveraged to gold. He is still optimistic that this will turn into a winner.

2008-02-05

SPECULATIVE BUY

Sprott Resource Corp.

SCP-T

2.060

There are 2 commodities in the commodity sector that are still steaming hot. Coal and potash. This company owns 1 of each. This is a very interesting speculation if you believe coal prices are going to hold up. Looking at this one again.

2008-02-05

HOLD

Kaminak Gold Corp.

KAM-X

0.640

2008-02-05

TOP PICK

CASH

31.090

Canadian treasury bills are a good example of this. The only game here is to preserve your capital. If assets get cheaper, you want to have buying power.

2008-02-05

Comment

RMX-T

1.680

A very early stage grassroots exploration company. Large market cap, so even if they were to make a major discovery he is not interested.

2007-08-31

Comment

Northland Resources

NAU-T

4.160

Has control over a very large portfolio of land straddling the Sweden/Finland border. Developing iron deposits that are rich in copper and gold. Moving one of their deposits towards a feasibility study with the hope of putting it into production. Well fi

2007-08-31

BUY

1.160

Superbly managed company. If they drill on all the projects they anticipate drilling, they should have about 37,000 feet of drilling, so there should be news this year and into next.

2007-08-31

TOP PICK

19.250

Developing a refinery in Newfoundland of which they owned 37.5%. Feasibility study has been completed. Waiting for environmental permits, expected in October. It will be the 8th largest and most advanced refinery globally. High risk/high reward.

2007-08-31

WATCH

Linear Gold Corp.

LRR-T (Dead)

2.200

Have done a tremendous job at their Mexican project with some very good discoveries. Stock is dropping because of metallurgical questions that have to be answered. On his radar screen.

2007-08-31

Comment

0.020

Molybdenum: - In the short term, he expects a lot of volatility because that is what we will get in all of these markets. In the very long term, expect demand increases. This is a very good metal to use in alloying steels. It imparts numerous, very benef

2007-08-31

HOLD

Benton Resources

BTC-X

1.500

It's done extremely well over the last few years. Would wait and see how the exploration develops before buying. Would also wait for a better price.

2007-08-31

TOP PICK

General Minerals Corporation

1.100

Gold. Own 30% of the Spanish mountain deposit in B.C. He believes gold will start moving up to over $1000 an ounce in the next few years.

2007-08-31

DON'T BUY

Cadiscor Resources Inc.

CAO-X

0.600

Doesn't appear as though their gold deposits are large enough to justify a wide following.

2007-08-31

TOP PICK

GNM-T

2.550

This will become a resource investment company managed by Sprott Asset Management. As close as you're going to get to getting in on the ground floor with Eric Sprott and a new business.

2007-08-31

WEAK BUY

Merc International Minerals

MRK-X

0.620

Has had trouble getting traction. This is one you should bargain hunt for in the $0.10-$0.20 range and hope they come up with some new idea post uranium.

2007-08-31

SELL

Northern Dynasty Minerals Ltd

NDM-T

13.450

A superb technical group. They have one of the largest undeveloped mineral deposits in the world. Copper is a major portion of this deposit and he is bearish on copper.

2007-07-06

Comment

Northland Resources

NAU-T

4.450

Acquired a very large land position between Sweden and Finland on which there are numerous copper/iron deposits and iron oxide gold deposits. Very well financed. As long as iron price holds up, it should do fairly well. He is concerned about metal commodity prices.

2007-07-06

TOP PICK

1.270

Junior exploration gold. Operates exclusively in Nevada. Have one of the most competent geological exploration teams in all of Nevada. They use joint venture partners to fund explorations.

2007-07-06

TOP PICK

20.710

Permitting a refinery in Newfoundland. It will be the 8th largest refinery in the world. Specifically designed to deal with heavy sour crude. It will have the highest refining margins in the world.

2007-07-06

WATCH

Linear Gold Corp.

LRR-T (Dead)

3.410

Made a very nice discovery in Mexico. Stock ran up but has been pulling back quite severely. If copper falls, gold prices might fall as well, and if so, this is on his list as a Buy.

2007-07-06

Comment

Sprott Resource Lending.

SIL-T

2.960

Merchant banking. He’s been liquidating his position over the last few months as they are moving into the real estate sector, which has reduced their earnings. Superbly managed. If you want 10% earnings with a 3% dividend, it's a good stock.

2007-07-06

HOLD

Lara Exploration

LRA-X

1.250

Managed by a very competent team. Product development has been slow. Early-stage grass-roots exploration. Very risky.

2007-07-06

BUY

0.990

Small exploration company. Operates in Argentina and Chile. Have very large land position. They use joint venture partners to fund explorations.

2007-07-06

TOP PICK

Queenstake Resources (merged to Yukon-Nevada Gold)

1.360

Owns 30% of the Spanish Mountain deposit and Skygold Ventures (SKV-X) owns the other 70%. Thinks there is about 1.5 million oz. of gold. Hoping they can move it up to 2 million and there is potential for even more. Has tremendous leverage to the gold price. Very speculative.

2007-07-06

DON'T BUY

Goldcorp Inc

G-T

25.730

Cost of producing gold for them is dependent on the cost of producing copper which they use as a credit against their gold mining. If copper goes down, then their gold cost will go up.

2007-05-31

WATCH

Iamgold Corp

IMG-T

7.800

Good company, has some very good assets. Some political worries in Equidor are keeping the stock down. Could go up to $11 by the end of the year, but he's staying out.

2007-05-31

DON'T BUY

QRL-T

0.165

Busy with a merger. Believes cost structure is problematic.

2007-05-31

WATCH

Formation Capital Corp

FCO-T

0.870

Waiting for results of feasibility study of hydro-metallurgical process in regards to a cobalt deposit. Results should be in June.

2007-05-31

Comment

Northern Dynasty Minerals Ltd

NDM-T

13.550

A monster big undeveloped deposit. There are permit issues. Thinks it may be a takeover target, by a consortium of companies.He's bearish on copper, so he's not interested, but if you are bullish on copper then it's a good one to get into.

2007-05-31

WEAK BUY

Sirva Inc

SIR-N

2.850

The big move is behind us. But there is still some upside.

2007-05-31

PAST TOP PICK

1.310

Down because of an absence of news. He's hoping it goes lower, so he can buy more. Will buy at around $1.20 Was almost his top pick. Great management. If he didn't own it, he would buy at current prices ($1.37).

2007-05-31

BUY

Radius Gold

RDU-X

0.620

Has lagged considerable. The president of radius is focused. Probably one of the better times in the past year to buy this stock.

2007-05-31

TOP PICK

Uranium Participation Corp.

12.900

Amazing management team. Are working on the 8th largest refinery in the world, which is specifically made to handle the crude that is being extracted now. Previous refineries were created to handle "light sweet crude", which is no longer being extracted. He's very excited about this one.

2007-05-31

BUY

Sprott Resource Lending.

SIL-T

3.210

Has recently sold because he thinks the rate of growth will come down. They've started focusing on real-estate, and he thinks that next year they will start having to pay taxes. Rising interest rates is good for Quest. Is a very good stock for RRSP's and you want something solid.

2007-05-31

DON'T BUY

U-T

16.010

Thinks that the price of uranium can go higher, the chart looks parabolic which is a warning sign that it's time to get out.

2007-05-31

PAST TOP PICK

Rimfire Minerals Corp.

RFM-X

2.060

Very focused on a particular business model. They have been invited to Nevada, and Australia, and are considered very highly. However there's been no news of late. He likes the management team, his strategy is to select a management team you like, buy it, and average down. (Buy on lows to reduce the average cost of your total investment). (Then $1.85)

2007-05-31

TOP PICK

Rimfire Minerals Corp.

RFM-X

2.060

They need to make a discovery to make the upside. They have a lot of loyal shareholders and when they do make a discovery it will be very good. He's "prepared to hold it forever." Sit patiently over the summer and buy it.

2007-05-31

PAST TOP PICK

Lara Exploration

LRA-X

1.210

It is a new, very young exploration company. It's down, but it's not due to anything wrong, just nothing happening. If you have a lot of patience (years) it will make you money.

2007-05-31

SELL

Strateco Resources

RSC-N (Dead)

3.140

Made a really good uranium discovery, and there are targets left to be tested. It's not deep and it's high grade. He sold, only because he thinks it's time to get out of uranium. Otherwise he would still be there.

2007-05-31

STRONG BUY

1.060

Just bought a whole lot. A superb portfolio of products. They do what he likes, that is, they generate ideas, and then get others to come in and fund the exploration. Focused in Argentina in the Santa Cruz province... a very good company. Risk is large, as it's junior exploration. But feels it will do very well over 5 years.

2007-05-31

DON'T BUY

Everton Resources

EVR-X

0.900

Bought because he likes the properties. The drill results show that it won't be easy. So he's out now.

2007-05-31

DON'T BUY

Franconia Minerals Corp.

FRA-T(dead)

3.950

Has a project in Minnesota where you typically find large low grade, poly-metallic minerals. Which means a mixture of copper, nickel, platinum, palladium, gold etc. This increases the recovery costs. Buy when metal prices are down, (which gives more potential for up side).

2007-05-31

BUY

Mansfield Minerals Inc.

MDR-X

3.490

Has an interesting gold project in Argentina. If you are looking for development stage projects this is a good one to get into. He is OK with political problems in Argentina.

2007-05-31

Comment

Lundin Mining Corp.

LUN-T

13.040

Bearish on copper and nickel, and feels this stock will go down because of it. Believes that the demand is overstated, and the copper and nickel is in surplus.Superb management team. This is the type of company that can get bought up. They are building it to sell it.

2007-05-31

Comment

Premier Gold Mines

PG-T

2.150

The company has a lot of potential. Good management, solid assets, joint venture with Gold Corp and several others, and an enviable land position for the Red Lake district. Some discoveries on the land already.Has always been tempted to buy, but their development strategy is not where his goals are. He likes to get companies that are partners to do the drilling.

2007-05-31

TOP PICK

1.240

Is his single largest position. Is the core of his gold leverage at the moment. Management is good, Bob Sing is the "star".

2007-05-31

Comment

Aurelian Resources Inc

ARU-T (Dead)

31.890

He made an estimate and breaking the company up into a high-grade section and low-grade section, calculated that it could fit somewhere between $40-$60. The complicating factor is Ecuadorian politics which is a bit of an uncertainty.

2007-01-16

Comment

Cameco Corporation

CCO-T

45.250

Sceptical on the optimists on Cigar Lake. This company had a similar flooding at MacArthur River 3 years ago. Thinks it will take a long time for them to figure out how to deal with this.

2007-01-16

DON'T BUY

Southwestern Resources

SWG-T

8.100

Have a project in China called Boka that received a lot of media attention a few years ago. Initially, it looked very large with very good economics. He feels the economics and it are going to be tough.

2007-01-16

BUY

Wolfden Resources Inc

WLF-T

2.720

Commodity play and he is bearish on commodities. The only base metal stock that he owns. Cheap at today's price. If weaker copper prices pushed the price of the stock down, he would buy more. Tough to find deposits like they have.

2007-01-16

WATCH

Eastmain Resources Inc

ER-T

0.790

Azimut (AZM-X) and Eastmain (ER-T) just announced good results in the Eleonor, James Bay region. Likes the area a lot. One to keep an eye on.

2007-01-16

TOP PICK

Beaufield Consolidated Resources Inc.

1.920

(A Top Pick Aug 16/06. Up 24.7%.) Have a whole portfolio of projects in Nevada joint venture partners. In partnership with Barrick (ABX-T) where they pulled a very good hole. Offset holes will be drilled by Barrick this year.

2007-01-16

BUY

Radius Gold

RDU-X

0.470

Good management team. Lots of cash in the bank. Low price.

2007-01-16

HOLD

Linear Gold Corp.

LRR-T (Dead)

4.800

Continue to come out with good results from their Ixhuatan project in Mexico. Has a suspicion that we haven't seen the last of the good results from this. Good management.

2007-01-16

SELL

Century Mining Corp

CMM-X(dead)

0.590

They are putting a mine in production close to Val Dor and he doesn't think they have enough reserves delineated so it is a very high-risk project.

2007-01-16

TOP PICK

Sprott Resource Lending.

SIL-T

3.260

(A Top Pick Aug 16/06. Up 9.8%.) Personal shareholders in their company. Bridge loan lending they developed in the resource sector and are now using in real estate too. Expecting them to be bought out. Trades at about 11 X earnings.

2007-01-16

SELL

BFD-X

0.365

Likes the management. A James Bay area play. Didn't have good initial results. There are better ones out there.

2007-01-16

SELL

Northern Star Mining

NSM.H-X

1.190

Likes the deposit and have done a good job on the exploration but have not done a good job on protecting the capital structure. Excessive dilution. Doesn't think they look after shareholders well enough.

2007-01-16

WATCH

Palmarejo Silver and Gold Corp.

PJO-X

8.650

An interesting company in that they discovered a large and reasonably robust gold/silver play in Mexico. These lower grade deposits debuts substantially more leverage to any increase in the gold price. The type of companies that could be bought out one day.

2007-01-16

BUY

Endeavour Silver Corp.

EDR-T

4.420

Likes the company a lot. It is a gold/silver mining company and are in production in Mexico. He owns it because of the exploration potential in the district. They are consolidating the land around their mine. Historical workings have only gone down to the water level which leaves a lot of room for exploration.

2007-01-16

PARTIAL BUY

Serengeti Resources

SIR-X

1.250

Very competent management on the technical side, but not an aggressive promoter. Good findings of copper/gold on a recent drill hole. Would like to see more holes. Suggests that you buy a few stocks and either add or detract later on. High-risk speculation.

2007-01-16

TOP PICK

Transatlantic Petroleum Corp. (U)

1.000

Operate in Argentina. Very competent technical team. Use joint venture partnerships to work their findings.

2007-01-16

HOLD

Everton Resources

EVR-X

1.320

In a trading range. To go higher, it either needs, preferably a discovery or an increase in the price of gold. Should be drilling this year, but they need the lakes to freeze up for this. It is an area play around the discovery that Virginia Gold made on the deposit called Eleonor in the James Bay region.

2007-01-16

PAST TOP PICK

TNP-T

0.830

(A Top Pick Aug 16/06. Down 31.4%.) A very volatile stock. Trades between $.70 and $1.20. Good buy at this price range. They have a project where oil was pumped out and a gas cap was left. They are trying to drill a new well to test the gas cap theory. If successful, they will do extremely well. High risk.

2007-01-16

Comment

Azimut Exploration Inc.

AZM-X

4.710

Azimut (AZM-X) and Eastmain (ER-T) just announced some results if you are interested in the Eleonor, James Bay region.

2007-01-16

DON'T BUY

Aurelian Resources Inc

ARU-T (Dead)

30.100

It was an exploration story that made a phenomenal discovery and is now a development story. Ecuador’s elections results concerned the market, so the stock dropped. Also, Corriente Resources (CTQ-T) has a deposit about 20 miles away and they’ve recently seen an increase in guerrilla activity

2006-12-13

BUY

NovaGold Resources Inc

NG-T

19.280

Have 2 very large world-class deposits, a gold one in Alaska and a copper/gold one in British Columbia. Hoping to develop B.C. first and use the cash to develop the Alaskan one. Good management.

2006-12-13

DON'T BUY

Queenstake Resources (merged to Yukon-Nevada Gold)

QRL-T

0.230

Has a lot of problems. Working on the Jarret canyon deposit, which is a complex of deposits in Nevada. Trying to reduce cash costs, but it has gone up to $640 and ounce.

2006-12-13

BUY

Etruscan Resources Inc

EET-T (Dead)

4.140

Just made a discovery in west Africa that could be very significant. Initial drill results were very good. As the develop it, it will add a lot more value to the company. Have other assets, which gives downside protection.

2006-12-13

DON'T BUY

Northern Dynasty Minerals Ltd

NDM-T

9.800

Owns the largest copper/gold deposit in the world. Short-term risk is entirely metal price related. He is not bullish about copper. Will eventually be taken over.

2006-12-13

TOP PICK

1.860

(A Top Pick Sept 19/06. Up 42.4%.) Favourite exploration company in Nevada. Superb management team. Recently made a joint discovery with Barrick (ABX-T). Very exciting.

2006-12-13

HOLD

Radius Gold

RDU-X

0.495

Excellent management. Although the stock fell, he kept his stock and will wait to see what management can do with it. Management has a big vested interest in it.

2006-12-13

TOP PICK

Strathmore Minerals Corp.

9.900

A joint venture company. Currently proposing to build a new refinery in Newfoundland. Capital cost of $4.6 billion and they own 37% pre-financing. Post-financing, if they end up with 10%, the stock could triple.

2006-12-13

DON'T BUY

STM-T

3.110

Very leveraged to the uranium price and feels uranium is very high, so considers it as a high risk.

2006-12-13

Comment

0.020

Gold: - Gold price will move up because the US$ is going to go down. If correct, the most leverage will come from US gold deposits.

2006-12-13

Comment