Opinions Robert McWhirter
Golden Star ResourcesGSC.TOPAST TOP PICKDec 09, 2010
(A top Pick Nov 17/09. Up 16%.) Sold his holdings for better opportunities.
$4.43
Stock price when the opinion was issued
precious metals
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COMMENT
This company has some knocks against it. They had a lot of difficulties with the gold price being down. They always have trouble making money. Royal Gold made a royalty agreement and are giving them $130 million, but of course there is a whole payback with that, which will depress their earnings. He can see this going up $1.25.
precious metals
TOP PICK
Gold in Ghana. Several operational problems over the last few years so has been in the doghouse. High cost producer at about $650 so are currently generating about $500 in cash flow with minimal capital spending. Ploughing this free cash flow into the ground for the first time to develop more resources.
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TOP PICK
Producing about 400,000 ounces of gold in Ghana and have about $.9 billion. Trades at about 5.5X cash flow. Cheap at 16.8X PE for 2010. 46% earnings growth forecast for 2011.
Robert McWhirterOwned
precious metals
HOLD
Very cheap. Have solved a lot of their problems. Could be a takeout.
Peter HodsonOwned
precious metals
TOP PICK
Had some production issues a few years ago and the stock disappointed. Have solved their power problems, but the stock is still very cheap. You can get about 400,000 oz. of production for about a 1 billion market cap, so can see it being a takeout.
Peter HodsonOwned
precious metals
