Aya Gold & Silver (AYA.TO)

Operational excellence. He believes in the price of silver for the long term. Priced for perfection right now. Short it at your peril. Company understands its Moroccan deposits unusually well.

He owns no gold. Gold has had an incredible run, and silver's done better over the last little while. Sectors are due for a pullback.

If you want to play gold or silver, you can buy the commodity easily through an ETF. A lot of gold companies are in difficult parts of the world, and their operations are generally more complicated than people think.

Morocco is fairly stable for mining operations. Interesting prospects in gold and other assets. Lots of interest in gold from central bankers, retail investors, and ETFs. Constructive on gold price longer term, though may have overshot in short term.

Be mindful of your position size. Gold is, to some extent, a speculative asset.

Whole sector's been quite good, though chart shows something happened late September to this name. You always look at the producers, not the commodity itself, to tell you where gold's going. If you're up significantly, consider taking some off the table.

Still thinks it'll have a really nice second half. He hasn't read the report yet, but a lot of short sellers just want a plausible enough story to make some money. 

Trades at 0.71 price to NAV, likes it. Huge growth rate has moderated somewhat from a year ago. He'll assess the report and see if he should actually be buying more.

Silver developer in Morocco. Great job building first mine, now on their second. Revenue growth and cashflow growth is built-in for at least 5 years to come. Came to the aid of earthquake victims, when the government couldn't, and this will benefit them for generations.

Hoping to bring a second silver mine into production in Morocco, which has boosted investor-friendly fiscal regimes. Spectacular recent drilling results, not that the market has cared. He needs more results and more consistency to model the deposit. No country is without political risk, and he compares the reward to the (political) risk.