B2Gold Corp. (BTO.TO)

(Market Call Minute) One of the best management teams. Challenges in the Philippines with tax laws.

Not a huge gold bull, but at these levels!!!! They’re going to be doubling production over the next couple of years. Good management. Trading at around where it is cash flowing at 5-6 times over the next year and probably 10X earnings.

( Estimated P/E Ratio is 10.02) Likes the growth and the strong management. High operating costs but lower than senior gold stock companies. Great free flow cash. Internally funded growth is not reflected in its share price.

Likes it and the team. They appear to be doing well. Thinks it is a company that will be built and prosper over time. Has a small holding and would like to grow it.

One of his favourite gold stocks. Has a very good growth profile. Made an acquisition a few months ago that will help grow the company and their production. Fairly low cash cost relative to the rest of the industry. This will be a function of where the price of gold goes. If you only had 5-6 gold names to own, this would be one of them for him.

An excellent name but he is not looking to buy any gold on a bottom or correction or on a bounce. It will take a while for momentum players to get back in to gold. Time to move on and find some other place to play.

B2 Gold. Bema Gold team (BGO-T). Good mine builders. Are growing production.

Trimmed his position and then bought a little bit back when it dipped under $3. It is a good trader like this. Likes the company and does think that ultimately the environment for gold bullion and gold stocks is favourable. (See Comments under Gold.)

His company has it as an outperform with a $6 target. They are growing their earnings and are well-positioned. Have a mine in Nicaragua and another one in Africa. Management is delivering very well.

(Market Call Minute) Closed acquisition of CGA mining.

Positive on gold but this stock doesn’t need gold to go up for this to work. Going from 150,000 ounces of production to 375,000 with the closing of the CGA Mining merger. Typically what happens when you get these kinds of stock takeovers, there are a lot of arbitrage sellers. Now that the deal is closed, he thinks it will catch up to the rest of the sector on a valuation basis and then you have the growth to really drive it higher. P/E ratio of 22%. Can easily see $4.50-$5 in the next 6-12 months.

Just got approval to acquire CGA Mining, which has a fantastic property in the Philippines. Thinks the CEO is going to grow this in order to sell it at a huge profit, similar to what he has done in the past with other companies. Could see $5 easily, even in a flattish gold environment. If the gold environment turns out like he expects, it could be a double.

A lot of growth coming over the next few years. Management has done a good job. Current production looks fairly strong and also they have a lot of production going into the pipeline over the next few years. It gold prices move up, this should do well. Has better prospects than most gold companies.

Likes this company. He has it as an outperform with a target of $6. Very good management. Likes what he sees in Nicaragua and their government.

Second most active in Toronto today. A favourite name on the street in a mid-sized Gold company. He did well and got stopped out of it.