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Don Lato Consolidated Thompson Iron Mines Ltd. CLM-T BUY Jul 21, 2010

Pure iron ore play in Canada. Just starting shipments out of their mines and will be about 8 million tons this year, expanding in phase 2 to 16 million 2-3 years down the road. Eventually has a earning powers of $1.50-$2 a share. Likes the future demand for iron ore, particularly from China.

Don Lato

Owned

Unlock Rating

$7.210

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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Don Lato Consolidated Thompson Iron Mines Ltd. CLM-T BUY Jul 21, 2010

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