Robert Cohen B.A.Sc., MBA, CFAAndina MineralsADM.VHOLDJan 02, 2007

And interesting gold deposit in Chile. Low grade, but they have economies of scale. Uses a 5% discount rate to get a conservative target of $3.25. Good long-term hold.

Robert Cohen B.A.Sc., MBA, CFA

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$3.09

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precious metals

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COMMENT

Expecting takeovers of high quality assets and could include Andina Minerals (ADM-X) in Argentina, which has a high quality gold deposit.

HOLD

Gold in Chile. Great management team with a pretty good asset that is growing. If everything continues to come together, he thinks it will be a pretty good acquisition for someone.

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Robert Cohen B.A.Sc., MBA, CFAAndina MineralsADM.VHOLDJan 02, 2007

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Andina Minerals(ADM.V)

Andina Minerals(ADM.V)

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