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| Peter Hodson of Sprott Asset Management |
|---|
| Royal Bank Plaza, South Tower, 200 Bay Street |
| PO Box 27 |
| Toronto ON |
| M5J 2J1 |
| 416 362 7172 |
| Peter Hodson's website |
| Toll Free: 888 362 7172 |
| invest@sprott.com |
| PAST TOP PICK | Legacy Oil + Gas Inc. | LEG-T | 11.620 | (A Top Pick Aug 6/09. Up 11.89%.) Has a great play. $1,500 billion Market Cap right now and it looks pretty good. | 2010-07-22 | ||
| TOP PICK | Delcath Systems | DCTH-Q | 7.430 | Liver cancer treatment. They isolate the liver and then pump more chemo to kill cancer cells. Survivor rate has gone from 4 to 23 months. Market potential is about 5-6 billion globally. Stock dropped when a scientist said it wouldn't work but FDA protocol showed results were significant. | 2010-07-22 | ||
| TOP PICK | Canaco Resources | CAN-X | 1.550 | Gold. Came out with some fantastic drill results in Tanzania, 37 m with 12.5 g. Looks like they are going to have 3 million ounces ultimately. Open pit and low CapX. | 2010-07-22 | ||
| TOP PICK | Parex Resources Inc. | PXT-X | 4.850 | Oil/gas in Colombia. Just announced that one of their wells hit 500 barrels a day and could be 2500 a day. Great Management. | 2010-07-22 | ||
| BUY | Grande Cache Coal Corp. | GCE-T | 5.720 | Good company. Operating update last week was pretty good. Great leverage to the world's steel markets. | 2010-07-22 | ||
| DON'T BUY | D-Box Technologies (A) | DBO.A-X | 0.390 | They have a $10,000 theatre seat that will rumble when the dinosaur walks by. They sell these seats in theatres at a premium price. Can't see this as a huge market. | 2010-07-22 | ||
| WATCH | Stake Technology | SOY-T | 5.070 | Health food. Was a growth by acquisition and they bought everything they could in the organic sector but it didn't work out so well. Looks like they have turned it around so now is the time to pay more attention to it. | 2010-07-22 | ||
| Comment | Thompson Creek Metals | TCM-T | 9.490 | Stock went down when they acquired the copper play Terrane Metals. If they had not bought this, it would've been a takeover target for the molybdenum assets but now it will have to prove itself. | 2010-07-22 | ||
| PAST TOP PICK | Gravity Co. Ltd. | GRVY-Q | 1.540 | (A Top Pick Aug 6/09. Down 11.04%.) Sold his holdings. | 2010-07-22 | ||
| PAST TOP PICK | West Timmins Mining Inc | WTM-T | 3.010 | (A Top Pick Aug 6/09. Up 35.59%.) Company was acquired. | 2010-07-22 | ||
| Comment | San Gold Corporation | SGR-X | 3.830 | Nice company. Properties in Manitoba. Drilling results have been very strong. Did a very big issue 4-5 days ago that they had to reduce from $130 million $80 million indicating the market did not want to come up with the larger amount. Short-term the stock is not going anywhere but long-term it's a rock solid company. | 2010-07-22 | ||
| DON'T BUY | 01 Communique Laboratory | ONE-T | 1.160 | In a patent dispute with Citrix (CTXS-Q), which looks like it is going their way but the same thing happen to him or five years ago when one of the judges derailed the whole process. Now back on track, but Citrix has a lot of firepower and money so they can delay it. Long, drawn out process. | 2010-07-22 | ||
| BUY | CML Healthcare Income Fund | CLC.UN-T | 9.850 | Great little company for income. Good distribution and are an oligopoly in Ontario. However expanded outside of Ontario, which didn't go as well. If you're worried about the economy, lab-testing business is about as rock solid as you can get. | 2010-07-22 | ||
| Comment | Petrominerales Ltd. | PMG-T | 30.000 | Market is not rewarding companies that are doing well because of what might happen in the future. This company has done nothing but create great, great results and beat expectations but the stock is not doing much. Stock price will go up $10-$15 in a good market. | 2010-07-22 | ||
| BUY | Osisko Exploration Ltd. | OSK-T | 11.830 | Have done everything perfectly. The mine is almost ready to go. Good takeout candidate at a higher price level. | 2010-07-22 | ||
| Comment | Westport Innovations | WPT-T | 19.690 | Has been very strong in a weak market. Doing a lot of things right. The trend is your friend on this one. | 2010-07-22 | ||
| BUY | Eldorado Gold | ELD-T | 16.670 | Growth profile is spectacular. This one has always had a premium multiple and their production growth profile has to catch up to the premium multiple. | 2010-07-22 | ||
| DON'T BUY | Dryships | DRYS-Q | 4.280 | Exposure to global market, a better play than just the US market, but was close to bankruptcy and the board got nervous and started issuing new issue after new issue. Not completely out of the woods yet and wouldn't be surprised if they issued more stock. Would prefer something like Frontline (FRO-N) with a 9.5% yield or Ship Finance (SFL-N) with a 7.4% yield. | 2010-07-22 | ||
| WATCH | BioExx Specialty Proteins Ltd. | BXI-T | 1.940 | Doing a cold process to crush canola to extract protein. Was concerned when they announced a 2nd facility before the 1st was working. It now looks like things are working pretty well. Margins they could earn are quite substantial. | 2010-07-22 | ||
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| Comment | Crew Energy Inc. | CR-T | 16.800 | Well managed. Growth rate has been phenomenal. Very tied into a couple of hot gas plays. Could be a takeover candidate someday. If gas does well it probably has $1-$2 more upside pretty easily. | 2010-07-22 | ||
| BUY | Legacy Oil + Gas Inc. | LEG-T | 13.360 | Management came in and has done nothing but exceed guidance since then. One of his favourite oil/gas names. Great name. | 2010-03-30 | ||
| Comment | Wavefront Energy & Environment Services | WEE-X | 2.330 | Technology to increase reservoir oil production. Recently got a big contract. Now basically is when does the next big contract come in? Technology has proven itself and pays for itself in a very short period of time. | 2010-03-30 | ||
| BUY | Pine Tree Capital Ltd. | PNP-T | 1.820 | Like a little mini mutual fund of small-cap resource companies. Track record has been pretty good. If you believe in the small-cap space, this is a pretty good investment. | 2010-03-30 | ||
| BUY | Ithaca Energy Inc. | IAE-X | 2.040 | Great balance sheet and strong management. Prospects and acreage are very good. As appetite for risk increases in the market, stock will do very well. (Optimistic on the economy for this year but not forecasting beyond 12 months.) | 2010-03-30 | ||
| BUY | Sensio Technologies Inc. | SIO-X | 2.670 | Compression technology used in 3-D technology. Stock went over $4 but with hype on 3-D technology and a competitor it had a big hiccup but is now working its way back. 3-D is here to stay, as it is more cost-effective. Studios love it because they can charge more. | 2010-03-30 | ||
| BUY | Colossus Minerals Inc. | CSI-T | 6.990 | Gold. Just announced a new deal to get additional acreage surrounding their property. Has everything going for it. | 2010-03-30 | ||
| BUY | Activision Blizzard | ATVI-Q | 12.030 | Premier company in games. Earnings, valuation and balance sheet have been solid but about a month ago they decided to put in their 1st dividend. In his experience, the best companies to buy are the ones that return money to shareholders. Very cheap and okay growth. | 2010-03-30 | ||
| Comment | Ivanhoe Mines | IVN-T | 17.320 | Just above its 1997 IPO price. Expect it will be a takeover company in the next 18 months. | 2010-03-30 | ||
| Comment | Western Canadian Coal Corp. | WTN-T | 6.160 | Iron ore prices have just gone up over 90%. With the steel industry back on fire, the whole derivative trade on steel is coming back so iron ore and coal are doing very well. Doesn't like to see expansion so he would be a little careful this year. | 2010-03-30 | ||
| DON'T BUY | STEC Inc. | STEC-Q | 12.060 | Hard drive memory systems. Has been a disaster in terms of expectations. They had the lead product and massive orders, no debt and lots of cash and then it fell apart when an insider sold a big block. Competition is taking away all their market. | 2010-03-30 | ||
| TOP PICK | Pareto Corp. | PTO-T | 1.660 | Direct marketing company. In-store promotions and direct mail campaigns. One customer is Aeroplan. He is more interested in valuation. Pays a 6% dividend and trades at about 6X next year's earnings. In the past 1.5 years, they started a dividend, raised the dividend, paid a special dividend, paid another special dividend and bought back a third of the company. | 2010-03-30 | ||
| TOP PICK | Petrominerales Ltd. | PMG-T | 34.100 | A true growth company. Average 4th quarter daily production from oil in Colombia was 22,000 and is currently 55,000. Their wells are so prolific that they are unhooking pipelines from old wells that are not producing enough. Great management. Will ultimately sell the company. | 2010-03-30 | ||
| TOP PICK | DHX Media | DHX-T | 1.480 | Production company doing TV shows and pre-finance 85% of the production costs and then sell international. Have 2300 hours of library content and is primarily children's programming, which is international and basically timeless. Content can also be converted to 3-D so likes the potential. | 2010-03-30 | ||
| PAST TOP PICK | Corriente Resources | CTQ-T | 8.180 | (A Top Pick April 30/09. Up 10.75%.) Sold his holdings as it was a target for a takeover bid. | 2010-03-30 | ||
| PAST TOP PICK | Cryptologic | CRY-T | 3.920 | (A Top Pick April 30/09. Down 49.89%.) Sold his holdings. | 2010-03-30 | ||
| PAST TOP PICK | Computer Modeling Group Ltd | CMG-T | 17.000 | (A Top Pick April 30/09. Up 67.01%.) | 2010-03-30 | ||
| TOP PICK | DragonWave Inc. | DWI-T | 11.810 | Telecom provider for backhauls. Clearwater is one of their biggest customers in this customer provided about 800% growth in the last quarter. Trading at about 12X earnings and have $100 million in cash with no debt. | 2010-02-04 | ||
| TOP PICK | Micron Technology | MU-Q | 8.610 | Market cap of $7 billion, have almost $2 billion in cash and they cash flow almost $400 million a quarter and trading at only 9X earnings. | 2010-02-04 | ||
| PAST TOP PICK | Verenex Energy Inc. | VNX-T | 7.290 | (A Top Pick Feb 12/09. Down 8.42%.) Acquired and he sold out on the first bid of $10 so had a gain of 25.6%. | 2010-02-04 | ||
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| TOP PICK | Open Text | OTC-T | 46.980 | Have $250 million+ in cash and growing at 47% a year. Just destroyed their guidance. Trading at only 11X earnings. Licensing revenue is strong. | 2010-02-04 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Small caps. You don't need to own these right now, as a lot of the large caps are just as cheap. Have been through the problems and generated earnings and cash flow and have lots of cash and are very cheap. | 2010-02-04 | ||
| DON'T BUY | Consolidated Thompson Iron Mines Ltd. | CLM-T | 7.250 | Likes the company but it's one of those that if you are wrong on global recovery, it will be impacted quite severely. | 2010-02-04 | ||
| DON'T BUY | Sensio Technologies Inc. | SIO-X | 2.000 | Compression technology, which allows 3-D transmissions to be sent on 2-D television. Rio-D (?) started making a lot of noise claiming they had the technology, which concerned the market. Traction is great but they have to build in the revenues. | 2010-02-04 | ||
| SELL | Agnico-Eagle Mines | AEM-T | 54.050 | Very expensive compared to some of the other companies that are producing. There are better ones to choose from. | 2010-02-04 | ||
| Comment | Western Canadian Coal Corp. | WTN-T | 3.210 | A little bit suspicious as when the stock was above $9-$10, they had 2 approaches to take the company over and it went way down and is now recovering. Not his preferred coal stock. Solid operations and decent balance sheet but it still doesn't continue on an upsurge, it's not going to go anywhere. | 2010-02-04 | ||
| BUY | Osisko Exploration Ltd. | OSK-T | 7.960 | Thinks this one will be taken over. Building a mine in Quebec that Goldcorp (G-T) took a position in for 13%. Mine is progressing well. | 2010-02-04 | ||
| WATCH | Mega Bloks | MB-T | 0.600 | Toy company that had great success made an acquisition and went bankrupt. Did a massive share issue to recapitalize. At least now they're going to survive. Good company, good products. Very speculative. | 2010-02-04 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | US$ and Gold? Right now it is popular to bet against the US$. But it's the only place to go when you are scared. Over 5-10 years, the structure of the US the dollar will continue to go down. Short term it will bounce all over the place. | 2010-02-04 | ||
| BUY | Bellatrix Exploration Ltd. | BXE-T | 4.000 | New management team got the company involved in some of the hot areas in western Canada. Exceeded production guidance and upped it. There has been a takeover in the space that makes them look very cheap on a relative basis. Doing everything right. | 2010-02-04 | ||
| DON'T BUY | Cymat Corp | CYM-T | 0.210 | Metal foam technology. Have an application where they can put it into armoured vehicles for blast disbursement. Also have some small deals on the architectural side. In this environment he doesn't think people will be paying a whole lot of attention to it. | 2010-02-04 | ||
| DON'T BUY | Largo Resources Ltd. | LGO-X | 0.205 | Had a great vanadium deposit and believed they could make $1 a share once they were up and running. Didn't work out and they did some dilutive financing and he sold his position. Has had a good recovery again but you need global growth. | 2010-02-04 | ||
| DON'T BUY | Gold Wheaton Gold | GLW-T | 0.265 | Company just set up a 1 for 10 consolidation. Signed a deal with First Uranium (FIU-T), which has a gold mine in South Africa that is having pretty serious production problems so they may delay the expansion. Any further delay and First Uranium owes this company $42 million. First Uranium have put themselves up for sale, which is really killed this company because of the uncertainty. | 2010-02-04 | ||
| PAST TOP PICK | Corriente Resources | CTQ-T | 8.490 | (A Top Pick Feb 12/09. Up 82.8%.) Being acquired. | 2010-02-04 | ||
| PAST TOP PICK | Kinross Gold | K-T | 17.540 | (A Top Pick Feb 12/09. Down 25.73%.) Sold his holdings because of better opportunities elsewhere. | 2010-02-04 | ||
| STRONG BUY | Research In Motion | RIM-T | 70.960 | Lots of cash and trading at 15X earnings ex the cash. Massive growth potential. | 2010-02-04 | ||
| TOP PICK | Keegan Resources | KGN-T | 6.250 | Gold explorer in Africa. In the middle of a hot belt of gold fields. Based on recent metallurgical work and discoveries to date, NAV is about $12. Thinks the company will be taken over. | 2009-11-16 | ||
| TOP PICK | Sensio Technologies Inc. | SIO-X | 2.310 | Compression technology that allows 3-D transmissions to be sent on 2-D television screens but their big opportunity in the short term is gaming. Their technology is not the standard yet but there is a very good chance that it will be. | 2009-11-16 | ||
| TOP PICK | Gran Tierra Energy Inc. | GTE-T | 5.640 | Oil exploration in Colombia. $156 million in cash and no debt. Produce 13,000 barrels equivalent of oil and are going on a massive exploration program next year. | 2009-11-16 | ||
| BUY | Iamgold Corp | IMG-T | 19.700 | Had been the whipping boy in the sector but have turned things around and one of the leading “go to” names in the gold sector. | 2009-11-16 | ||
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| BUY | Questerre Energy | QEC-T | 2.550 | Has always been a good name with great prospects. Well run. Great huge potential in Quebec shale. | 2009-11-16 | ||
| BUY | First Solar Inc. | FSLR-Q | 123.410 | Still the leader in solar energy and the lowest cost producer. Long-term it will continue to do exceptionally well. Trading at 16X earnings. Huge leverage to a rising equity market. Volatile. | 2009-11-16 | ||
| DON'T BUY | Magma Energy Corp | MXY-T | 1.840 | Geothermal energy. Management team is excellent but he is a little sceptical of the whole geothermal space. Too early to compare companies. | 2009-11-16 | ||
| HOLD | Canacol Energy Ltd. | CNE-X | 0.355 | Exploration in South America and have had some good success. Management team looks pretty good. | 2009-11-16 | ||
| HOLD | Grande Cache Coal Corp. | GCE-T | 4.140 | Chinese steel demand is increasing so coal is going higher. Clean balance sheet and had some good production. He prefers the bigger US companies such as Walter Energy (WLT-N) because of better liquidity. | 2009-11-16 | ||
| BUY | BioExx Specialty Proteins Ltd. | BXI-T | 2.080 | Extraction of proteins from canola. Revenues aren't quite there yet and technology is not really proven on a mass scale yet so you have to be a little bit careful. Have to wait about 1 year for the revenues to get some traction. Speculative. | 2009-11-16 | ||
| PARTIAL SELL | Medicago Inc | MDG-T | 0.740 | Has a swine flu derivative play. Had a huge run and still doesn't have the institutional support so if we got into a weak market it could get hit. If you own consider taking some profits. | 2009-11-16 | ||
| PAST TOP PICK | Kinross Gold | K-T | 20.680 | (A Top Pick Nov 7/08. Up 38%.) Still owns a little but has shifted down to more reliable gold companies. Earnings report was not very good. Likes it for the leverage to gold. | 2009-11-16 | ||
| PAST TOP PICK | A-Power Energy Generation Systems Ltd. | APWR-Q | 11.580 | (A Top Pick Nov 7/08. Up 105%.) Chinese alternative energy play. Their customers need access to credit and on any sort of credit hiccup again it will go down. Sold his holdings. | 2009-11-16 | ||
| PAST TOP PICK | HBP Global Gold Bull+ E.T.F. | HGU-T | 15.170 | (A Top Pick Nov 7/08. Up 140%.) Global Gold Bull+ ETF. Back in November about the only thing you can count on was that gold was going higher. | 2009-11-16 | ||
| SELL | Timminco Ltd. | TIM-T | 1.630 | Used to like this company a lot but doesn’t like it all now. Failed to meet expectations, kept running out of money and giving away shares to solve their pre-payment problems. | 2009-11-16 | ||
| HOLD | Wavefront Energy & Environment Services | WEE-X | 2.230 | Increasing stimulation and getting more oil out of reservoirs. Had some good contracts and the stock has been getting a lot of attention and it could be a big winner as they prove things out. | 2009-11-16 | ||
| Comment | MagIndustries Corp. | MAA-T | 0.580 | Got hit when the financing market closed out last year but they‘ve turned it around for the most part. Worst is over. Too risky for his portfolio. | 2009-11-16 | ||
| BUY | San Gold Corporation | SGR-X | 3.270 | Finally are in a cash flow situation and finding exceptional results with the drill. Decent take-out target. | 2009-11-16 | ||
| BUY | Thompson Creek Metals | TCM-T | 12.720 | Molybdenum is a weird market so be cautious but he thinks it is close to an uptick. Likes to Trade this one. Cash flow will be huge when moly prices recover. Some great projects and exploration projects. | 2009-11-16 | ||
| WAIT | Cymat Corp | CYM-T | 0.265 | Aluminum foam. A big potential application is the military for blast displacement. Talking to the army and have a small contract. Also some architectural work in Europe to displace bomb blasts. Still early stages. He would like more revenues and contracts. | 2009-11-16 | ||
| Comment | Titan Medical Inc. | TMD-X | 0.430 | Robotic surgery. Intuitive Surgical (ISRG-Q) has a monopoly. This company thinks they have a better system. Have to go through FDA procedures. If it works they’ll be able to share the giant market. Have a long road ahead of them. | 2009-11-16 | ||
| DON'T BUY | Connacher Oil and Gas | CLL-T | 0.980 | Thinks there will be more M & A activity in the oil sands space. Prefers UTS (UTS-T) and its management team, which is a better play. | 2009-11-16 | ||
| Comment | Westport Innovations | WPT-T | 13.000 | Manufactures natural gas vehicles. Just signed a deal with Volvo, which is pretty important for them. He always had a problem because they always seemed to be raising money. Now getting traction on deals and revenues and stars are starting to line up. Could be a takeover target in a couple of years. | 2009-11-16 | ||
| Comment | Resverlogix Corp. | RVX-T | 2.580 | (Market Call Minute.)Reversing of bad cholesterol in clinical studies. A little early for him but has potential. Speculative. | 2009-11-16 | ||
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| BUY | Legacy Oil + Gas Inc. | LEG-T | 1.610 | (Market Call Minute.) Loves the management team. Just put together their company. Give them some time. | 2009-11-16 | ||
| SELL | Shore Gold Inc. | SGF-T | 0.770 | (Market Call Minute.) Diamonds in Saskatchewan. Not a big fan of diamonds. | 2009-11-16 | ||
| BUY | Centamin Egypt | CEE-T | 2.400 | (Market Call Minute.) Fabulous takeover target. Have done an exceptional job of meeting expectations. | 2009-11-16 | ||
| BUY | Uranium One Inc. | UUU-T | 3.560 | (Market Call Minute.) Uranium is coming back pretty strong. | 2009-11-16 | ||
| SELL | Air Canada (B) | AC.B-T | 1.340 | (Market Call Minute.) Doesn’t like airlines. | 2009-11-16 | ||
| TOP PICK | Legacy Oil + Gas Inc. | LEG-T | 2.050 | Management team from 3 different companies that parachuted in with their own money. They are now the 4th biggest independent player in the Bakkens. Well financed. | 2009-08-06 | ||
| TOP PICK | West Timmins Mining Inc | WTM-T | 2.220 | Recently hit 83 metres of 12 3/4 grams per ton gold, which is one of the 5 best holes in Canada over the past 50 years. If they can get those grades lower down and expand their resources, it is going to be a massive opportunity. They are smack dab in the middle of the Timmins Camp. Think they will get taken over before they find more gold. | 2009-08-06 | ||
| TOP PICK | Gravity Co. Ltd. | GRVY-Q | 1.630 | Online developer of games. Trading below its cash value yet is going to earn $.20 or $.25 a share this year. New management team is turning it around. | 2009-08-06 | ||
| PAST TOP PICK | Antrim Energy | AEN-T | 0.670 | (A Top Pick Aug 27/08. Down 74.53%.) All the North Sea players fell out of bed when Oilexco collapsed but this one is a survivor and is still in business. Leverage to the upside for oil is still very big. If you believe in oil, the leverage will be quite substantial. | 2009-08-06 | ||
| PAST TOP PICK | Elgin Mining Inc. | ELG-T | 0.300 | (A Top Pick Aug 27/08. Down 71.43%.) Coal companies had a huge run-up last year and then fell apart. Announced some strategic reviews going forward. Other coal companies have done very well but this has been left behind but gives you some potential if people start noticing. Hold. | 2009-08-06 | ||
| PAST TOP PICK | Fuqi International Inc. | FUQI-Q | 27.390 | (A Top Pick Aug 27/08. Up 165.53%.) 4th largest jewellery company in China. A classic example of a growth company that is finally getting noticed. Just reported and EPS is up 90%, sales up 100%, no debt, about $5 a share in cash and trades at a forward multiple of about 13X earnings if you exclude the cash. | 2009-08-06 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Small Caps. They will do okay as long as you are careful and stick with quality companies that are debt free. Overall economic backdrop is still a little mixed but investors en masse have decided the worst is over. | 2009-08-06 | ||
| Comment | Resverlogix Corp. | RVX-T | 2.790 | Only process that can reverse a cholesterol situation. A lot of big pharmas are looking at the name. Looks pretty attractive at this level. This is at phase 2 and he prefers buying after phase 3. | 2009-08-06 | ||
| BUY | Noront Resources Ltd. | NOT-X | 2.470 | Have some good indications that the zones go deeper than before and the grades are pretty good. New management team and getting good support and is getting noticed. | 2009-08-06 | ||
| Comment | Eldorado Gold | ELD-T | 11.780 | Great assets, great management and great growth potential. Expect they might do an equity issue in the not-too-distant future, which is a bit of an overhang to the stock. | 2009-08-06 | ||
| DON'T BUY | Questerre Energy | QEC-T | 1.480 | One of the names that will require capital to get to the next level to get into massive production. When you overlay that with poor natural gas prices you have to wonder where the upside is going to be. Likes the company and management. | 2009-08-06 | ||
| Comment | A Comment -- General Comments From an Expert | A Commentary | 0.020 | Natural gas. Expects it will double over the next 12 months. Once companies have stopped drilling for a period of time, poor prices are self-fulfilling problem that disappears. | 2009-08-06 | ||
| HOLD | Corriente Resources | CTQ-T | 6.670 | Has been for sale for 8 months. Generally in the market, slow news is bad news. Doesn't know if something is wrong here but all the other copper names have gone up more than this one. | 2009-08-06 | ||
| DON'T BUY | Verenex Energy Inc. | VNX-T | 6.700 | Libyan government has said they want first right of refusal and they'll take the asset but not at the price they want. Good asset but the government has shown they're going to mess it up. | 2009-08-06 | ||
| DON'T BUY | Absolute Software Corp. | ABT-T | 5.850 | Likes the company but not happy with the economy in terms of computer sales. Partners seem to be struggling a little bit. Good technology. In a true bull market, it could triple or quadruple. | 2009-08-06 | ||
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| BUY | Gran Tierra Energy Inc. | GTE-T | 4.090 | One of the best names in Colombia in terms of oil and risk parameters. Great production profile and are sitting on $150 million in cash with no debt. | 2009-08-06 |
