Stockchase Opinions

Charles Oliver, HBSc CFA Brigus Gold BRD-T COMMENT Jul 26, 2012

Have cleaned up their hedge book. New COO from Agnico-Eagle (AEM-T) who was highly regarded. Needed to manage their costs but in the last few quarters it looks like they are finally turning around and getting their development production up.
$0.810

Stock price when the opinion was issued

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TOP PICK
Production of 90,000 oz. Potential to double output. Over last year they were constrained by debt and hedge book. Through joining two companies, they paid down much of their debt and half their hedge book. They have been in the penalty box because of hedge book and debt, but it is just a matter of time.
DON'T BUY
Sees a bit of an up trend. But it is more included to break below the triangle than above it. This name does not look as strong as others. There are better names out there.
PAST TOP PICK
(A Top Pick Nov 8/10. Down 22.48%.)
BUY

Have the Gray Fox mine in Timmins area along with a few other satellite mines. Producing 40,000-80,000 ounces of gold per year. Excellent cash costs. Got rid of their Apollo mine in Montana so it is now a clean “made in Ontario” story. There is more room to come.

DON'T BUY

They have done a good job over the last couple of years. Cash costs are high but they are working on bringing them down.