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Andrew McCreath Consolidated Thompson Iron Mines Ltd. CLM-T TOP PICK Sep 28, 2009

(A Top Pick Aug 18/09. Up 11.75%.) Pairs trade with Vale (VALER-N). Iron ore operation in Quebec and just going into production. Believes potential to cash flow more than $3 a share in 2011. Fully financed. Expect them to acquire a nearby facility that will catalyze production growth in the next 18 months and cut capital spending.

Andrew McCreath

Owned

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$5.320

Stock price when the opinion was issued

metal mines

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PAST TOP PICK

(A Top Pick July 20/09. Up 115.08%.) Has some good room ahead of it.

TOP PICK

Fantastic play on iron ore. Just wanted to production in the 3rd quarter. Projecting about 8 million tons. Looks undervalued by about 40%. Looking to expand to 16 million tons.

PAST TOP PICK

(A Top Pick Sept 28/09. Up 83.46%.) A pairs trade with Vale (VALE-N). Collapsed the trade when the catalyst came.

DON'T BUY

Iron has had a good run recently. Here you are really dealing with eh vagaries of the commodity market. There is a theory of demand from China for steel. He thinks it is ahead of itself and would not buy at these levels. But is a good company for the long term.

COMMENT

Iron ore. Sold his holdings when it spiked up after the takeover bid. Felt there wouldn’t be a 2nd bidder.

PAST TOP PICK

(A Top Pick June 1/10. Up 116.98%.) In the process of being acquired by Cliffs Natural Resources (CLF-N).

PAST TOP PICK

(A Top Pick July 23/10. Up 119.47%.) Acquired May 16/11.

PAST TOP PICK

(A Top Pick June 23/10. Up 122.29%.)

PAST TOP PICK

(A Top Pick July 23/10. Up 119.47%.) Acquired by Cliffs Natural (CLF-N) in May/10.

PAST TOP PICK

(A Top Pick Oct 14/10. Up 76.74%.) Got taken out.

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Andrew McCreath Consolidated Thompson Iron Mines Ltd. CLM-T TOP PICK Sep 28, 2009

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