Glamis Gold (GLG-T.V) Buy, Sell or Hold

Glamis Gold (GLG-T.V)

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BUY

Positive on gold. A 2nd tier gold company compared to Placer (PDG-T) and Barrick (ABX-T). Expects to see more consolidation later on in the cycle and this is one that will take part.

DON'T BUY

The whole 3 ring circus with Glamis, Goldcorp and Wheaton River means that none of them trade on fundamentals. People are betting on which one is going to win, lose, pay too much, etc.

WAIT

See remarks under Goldcorp. A truly brilliant company in what they do in terms of earth moving and deep leaching. The Goldcorp transaction doesn't make sense to him.

TOP PICK

Stock at the time of their hostile bid for Goldcorp was $24. Either they are successful and put it together with Goldcorp with a good track record and some synergies or they don't win and the stock should recover to $22. A win either way.

TOP PICK

Taking a run at Gold Corp and thinks there is a good chance that they will be successful. If so, they are prepared to do things at the Red Lake mine that the others were not. Have a good track record of being good operators. If they don't get it, the stock goes back to $24, but if they do get it it should eventually go up to the mid $20's.

DON'T BUY

A Glamis takeover of Goldcorp makes no sense whatever. There are no synergies and Goldcorp is hugely expensive right now.

BUY

Not a gold bug, but is bearish on the US$, so marginally positive on gold. Going to double or triple their production over the next 4 years.

BUY

The gold sector peaked out in Jan/Feb and pulled back. With the US$ continuing its weakening trend, and gold finding support at $378/379 is positive. Prefers this and Agnico-Eagle over others.

BUY

Strong growth prospects. One of the better junior/intermediate plays.

TOP PICK

Like the gold sector. Not a single property company.

TOP PICK

The gold's look like they're going to get going on a second leg up.Seasonally, September and October look quite good.They have a growing production base.

BUY

Expects gold to be ina long term bull market.

BUY

Has interesting projects on the go.

BUY

Doesn't hedge. Should go higher. Good price.

DON'T BUY

Prefers Meridian.

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Glamis Gold (GLG-T.V)