Capstone Copper Corp (CS.TO)

Always been a big fan of this one, but last quarter he was disappointed with the grades of all three mines. He is hesitant to recommend it.

One of his favourite copper stories. Currently producing $1.90-$2 a pound copper. Have done very well in terms of their operations. There are very few ways to play copper in Canada now. Management has done a good job. If you want copper exposure, this is a way to really play it. Expects production to grow over the next few years and their costs to come down. A good entry point.

Does not see a problem with it. Copper is a little bit out of favour. It has all depended on China. Doesn’t see why it has underperformed. He likes the company and he would hold on to it here. LUN-T is a very good buy, though.

Have been active in acquisitions. Balance sheet is okay and leverage to copper and other metals is quite high. Sector is horrible right now. They have managed themselves quite well.

(A Top Pick July 18/13. Up 44.83%.) Took a little bit of money out of this because the weight in the portfolio had risen. Copper hasn’t had a great move, but this company did some great acquisitions at the right time. People are recognizing this as a cheap junior.

Not too many ways to play the base metals companies. Likes management. Mid-cap copper producer. A lower cost producer. He likes the story.

Copper. This is a producer that has underperformed recently as a result of people worrying about M&A activity, as well as worries of a core expansion operation in Arizona. Every time they have talked about M&A, and executed on it, they have done a great job of integrating those acquisitions. Trading at a discount to its peers.

The big thing here is that they have the Pinto mine, a US production based copper mine that is just coming on. Like many names in this position, you have a part of the street that likes to buy ahead and the other side that doesn’t give them the benefit of the doubt until it actually comes through. He is prepared to give them the benefit of the doubt because this is not a greenfield project. Likes the growth it can offer along with evaluation. You will need patience.

(Top Pick Jul 18/13, Up 28.57%) He was buying it back today. There is decent growth here and decent leverage to the copper price.

Value play. Was in it not so long ago. Sold at the sell off due to being stopped out. Nice value play they are building out in the US now.

Copper. Has added more to his holdings. Good management. They continue to come through in terms of their cash flow. Profitability on each pound of copper is quite high relative to a lot of other players.

(Top Pick Jun 4/13, Up 38.32%) Direct play on copper. Likes what they had and the growth of their property. He wanted to lever copper. The stock has done well because people are more confident in the global economy.

Thinks copper is undervalued and does not worry about breakdown of demand in China. They have used their capital effectively. It is in the right area and has growth potential ahead of it. They took political risk out of the equation. It`s volatile, more than most.

If you think there is going to be an issue with emerging markets or China, that is not going to bode well for the stock. Long-term, he likes their assets very much. Have good cash flow ability. Their recent acquisition is going to add value to them down the road.

Likes the copper producers because the inventory is very low. Some of the copper producers may not be around a year from now. He would own one or two of them for now. This is a space he would like to be in.