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Robert Cohen B.A.Sc., MBA, CFA Detour Gold DGC-T COMMENT Mar 07, 2017

Has a huge mine in Ontario and is perennially seen as being a takeover candidate. They wanted to permit the West Detour zone, but the permitting process is going slower than expected. There are some loans coming due this year, so they will have to do some financing. Once they get through that, this is a decent producer. One thing to keep an eye on is the new Life of Mine plan (LOM). Overall, this is a cheap stock. As a takeover candidate, it would be a sizable acquisition of possibly $3 billion.

Robert Cohen B.A.Sc., MBA, CFA

Owned

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$14.980

Stock price when the opinion was issued

precious metals

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DON'T BUY

Costs are going up and revenues are going down. They have done many stock issues and not rewarded their investors. When production forecasts fall short of expectations investors will go elsewhere.

TOP PICK

They just a big correction for no reason. Their last earnings report said they had good earnings and really lowered costs. They have outperformed and management has executed well. It's a great entry point now. (Analysts' price target: $16.29)

PAST TOP PICK

(Past Top Pick, June 22, 2018, Up 1%) It took a dive after earnings (and reducing costs), then recovered after management said it would restructure the company. Solid company, and he even added to his holdings.

WEAK BUY

Had a big pop in 2016. The head and shoulders chart is now gone. This stock and gold are beat down. That said, it's cheap now. Buy or hold.

BUY

Recently bought it. They used to disappoint alot and have a hostile proxy fight with shareholders. It's a large, Canadian deposit. He believes they will solve their exploration problem. There's a lot of exploration upside.

PAST TOP PICK

(A Top Pick Mar 05/18, Up 3%) They announced last year that they were having difficulty getting productivity levels in the moving of materials. There was a change in management and some of the board. The cash flow and grade keeps going up and up.

COMMENT

Loves it and is a major holding for him. Money is starting to flow into the gold sector again.

PAST TOP PICK

(A Top Pick Aug 14/18, Up 20%) In a stealth way, serious money is coming into the sector. Low cost producer in Canada. Solid assets with big reserves on the ground.

PAST TOP PICK

(A Top Pick Jun 22/18, Up 112%) He bought it cheap, underloved, a great time to buy. The big players are buying this like Hank Paulson.

DON'T BUY

They are in the process of being taken over by KL-T. The chart for DGC-T looks fairly bullish otherwise. He would buy it here unless you thought another buyer would come along.

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Robert Cohen B.A.Sc., MBA, CFA Detour Gold DGC-T COMMENT Mar 07, 2017

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