| VAGUE | | Petrofalcon Corp | PFC-T | 2.210 | Will be shipping gas this year. Prospectively 10,000 BOE's per day. Concerns on president Chavaz renegotiating contracts is a risk. | 2005-06-02 | |
| WAIT | | Minco Mining & Metals Corp | MMM-T | 1.150 | Restructuring. Expects the junior exploration sector to be broadly lower this year, so would look to establish a position in August and increase the position in December. | 2005-06-02 | |
| DON'T BUY | | Dynatec Corp. | DY-T | 1.280 | Nervous about what they are doing in Madagascar. A very large capital project. Doesn't have the guts to own it at this price. (Owns their joint venture partner FNX Mining (FNX-T).) | 2005-06-02 | |
| DON'T BUY | | Southwestern Resources | SWG-T | 9.630 | When they abandoned the business plan of prospect generation (generating projects and using other peoples money) he had to sell. Very attracted to what they are doing in Peru. Expects they will go lower given the concentrated nature of the ownership. | 2005-06-02 | |
| BUY | | Almaden Minerals Ltd. | AMM-T | 1.700 | A prospect generator. They use their technical and business acumen to develop exploration targets which are funded by other companies. In the context of mineral exploration speculation, the whole genre of "prospect generators" is the way that almost every retail investor should be playing the market. | 2005-06-02 | |
| BUY | | Amerigo Resources | ARG-T | 1.900 | Good management. Copper producer out of Chile. Has a molybdenum recovery operation which will substantially enhance revenues going forward. | 2005-06-02 | |
| WEAK BUY | | Cash Minerals | CHX-X | 0.300 | Very leery of the explosion of uranium vehicles. Wouldn't hold out much hope on the uranium, but on the coal side they are doing a better job. The idea of a mine mount power plant in the Yukon is attractive. Will require more capital than the company has. | 2005-06-02 | |
| DON'T BUY | | Platinum Group Metals Ltd | PTM-T | 0.800 | Doesn't particularily believe in junior companies trying to develop out their own exploration targets. 1 in 3,000 anomolies becomes a mine. Also the idea of someone spending a great deal of time looking for platinum in Canada doesn't seem like a great idea. If you want to play platinum, play the South Africans. | 2005-06-02 | |
| WEAK BUY | | Ivanhoe Mines | IVN-T | 9.150 | Owns a little personally and his play is on Robert Freidland, the greatest promoter in the mining business. Fully priced, but probably going higher. Interesting coal exploration play. Have an enormous copper/gold periphery. Have other assets that tend to get ignored. Very volatile sector. | 2005-06-02 | |
| TOP PICK | | Quest Capital Corp. | QC-T | 2.020 | (A Top Pick Mar 8/05. Up 2.5%.) Has done a spectacular job. Trailing earnings for last year were $0.16. Earned $0.04 for the quarter. Offers the best juxtaposition of risk/reward in the Canadian speculative sector. Don't chase the stock. $2.05/2.10 is OK. Expects to own this until the current management team sells it. | 2005-06-02 | |
| PAST TOP PICK | | Pico Holdings Inc. | PICO-Q | 26.310 | (A Top Pick Mar 8/05. Up 5%.) Buy at the $26 level. Probably the best play on developing in water shortages in Nevada/Arizona. | 2005-06-02 | |
| SELL | | Kirkland Lake Gold | KGI-T | 3.780 | If you own, sell and take the tax loss and buy it back in either Aug or December. Should be fairly easy to trade. One of the greatest gold camps in the history of the world. | 2005-06-02 | |
| VAGUE | | Sterling Resources | SLG-X | 1.850 | Drilling a well onshore Romania and participating in the promote round in the north Sea. Expect to see a lot of speculation in the next 2 weeks because of the Romanian well. Reducing his position because his base cost is so cheap. A wonderful wide open exploration play. Good range of prospects. | 2005-06-02 | |
| VAGUE | | Fronteer Development Group | FRG-T | 2.120 | High regard for management. Beginning to spend too much money on their own projects. particularily in Turkey. Involved in probably the most attractive uranium exploration play on the continent, Labrador in a joint venture with Altius Minerals (ALS-X) and prefers this stock more. | 2005-06-02 | |
| WAIT | | Linear Gold Corp. | LRR-T | 5.000 | Very attracted to their exploration project, however the market is in a structural decline in the near term. Expects to nibble at this stock in August and gobble in December. | 2005-06-02 | |
| WAIT | | Aur Resources | AUR-T | 6.930 | A very well run company. Generating an awful lot of cash at these prices. Outlook for the base metals market next year is a bit softer because the economy is going to be soft. Wouldn't be in a huge rush to own, but over time shareholders will be rewarded. | 2005-06-02 | |
| SELL | | TVI Pacific Inc | TVI-T | 0.100 | Trying to bring a small mine into production and his experience with small mines is that they never make you big money. | 2005-06-02 | |
| BUY | | Vista Gold Corp. | VGZ-T | 3.950 | Will probably buy more. This company is really a warrant on gold. They felt that the price of gold was going up and they bought gold deposits that weren't economic at current prices. When gold goes up they'll sell the companies. Highly speculative. | 2005-06-02 | |
| TOP PICK | | Tusk Energy | TSK-T | 4.400 | Potentially the most profound onshore exploration discovery he's seen in 20 years. In the Keg River platform in Northern Alberta. If he's wrong it could easily be a $2 stock, but if he's right, it could be a $20 or higher stock. Hard core frontier exploration. He expects to own until it is proven to be a success or failure, probably by this time next year. | 2005-06-02 | |
| TOP PICK | | Spur Ventures | SVU-T | 1.700 | Attracted to the fertilizer market generally. Has the potential over the next 3 years of being the lowest cost producer of phosphate fertilizer in China. Very thinly traded. Don't chase it. Expect to own it for a couple of years. Expects to own this stock for 2 years. | 2005-06-02 | |
| WEAK BUY | | Western Oil Sands Inc. | WTO-T | 61.500 | If you believe that oil prices are going higher or political problems affecting oil supplies from the middle east any stable Canadian supplier would be valuable.
WTO is at an earlier stage then Suncor or Canadian Oil sand so is more speculative, however they are using new technology which promises to be more efficent but hasn't stood the test of time.
Oil prices will probably go down before they go up. | 2005-03-08 | |
| DON'T BUY | | Rubicon Minerals Corporation | RMX-T | 1.300 | Uses their own capital to explore their own prospects which makes it more risky. Has excelent management, but too risky for him. | 2005-03-08 | |
| BUY | | Sherrit | S-T | 10.800 | Wonderful restructing play, well run. His stock isn't for sale at this price. | 2005-03-08 | |
| BUY | | A Comment -- General Comments From an Expert | A Commentary | 23.300 | Thinks it's at the top of it's price, however because it's going to be monotized (sold) it will be in play. He doesn't own it but is "permisive" to own it, however put a fairly tight stop behind it in case the commodities "fiddled". | 2005-03-08 | |
| DON'T BUY | | Queenstake Resources (merged to Yukon-Nevada Gold) | QRL-T | 0.370 | Small company controls large deposit. Need to keep exploring to keep producing. Likes the management team (knows them), however would not buy the stock. | 2005-03-08 | |
| VAGUE | | Bow Valley Energy | BVX-T | 2.060 | Likes because of the European holdings. | 2005-03-08 | |
| DON'T BUY | | Anadarko Petroleum Corp | APC-N | 80.130 | Could go higher, but expect it to go down. If buy, use puts. | 2005-03-08 | |
| DON'T BUY | | Tahera Corp | TAH-T | 0.570 | very checkered past. Very perspective ground. not for impatiant or faint hearted. | 2005-03-08 | |
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