Iamgold Corp (IMG.TO)

Have some higher operating costs and they have to try and bring those down and have been working on this. Nice big dividend yield of about 5%, but there is a risk it could be cut. Reasonably strong balance sheet so they don’t have to do a cut immediately. With a much higher gold price, he could see this potentially going back to $20.

(Market Call Minute.) This would be a short-term Sell but a longer-term Hold. Was looking interesting and then they came out this week with earnings. Westwood, their Québec mine, which is 40% of their NAV, is going to be delayed a year.

He is not a gold bug. Thinks this would be bottom fishing. He is not buying any gold except as part of a general index.

(Market Call Minute.) He is not buying any golds right now. If he got more bullish on golds, this would be a Buy.

His company has an outperform and $10 target on this stock. As the price of gold comes back, this company will start to come around with all of them. Have a pretty good inventory of companies. 5.24% yield.

Trading at about a 50% discount to its Book Value. Has a lot of cash on its balance sheet. About half of the price of the stock is in cash. Has a very nice leverage on the price of gold, so when the price of gold goes up, this one tends to go up much faster. You also get a yield of 5.06%.

Well diversified. Pays almost 5% dividend. One of the highest in the space. Solid balance sheet. Did the right thing over the last year. Renegotiated power contracts they had this year. Cost reduction program over the last couple of years. It is trading at the 2008 level.

Prefers gold companies that are out of the gate already and production can continue to increase.

Classic gold stock that goes higher this time of year. Nice little base, nice trading range. Just moved above 20 day moving average, above market performance and is up trending. It should continue going higher. Earnings report next week should give stock more news. As soon as earnings reports are out of the way, these stocks usually pop.

(Market Call Minute.) Nobody knows where the price of gold is going. He wouldn’t be surprised to see it go under $1000.

He would avoid all gold producers. Hedge funds are selling into this market. Whisper of FED tapering is an arrow in the heart of gold prices. Sees gold going below $1000.

Downward trend, not lined up as yet but forming a classic base pattern. Strong from mid-Jul until first week of Oct. 16% average increase during this time over the last 60 years.

They have something like $2.30 in cash per share on the books.

An interesting company, pretty good operators. Pretty good cash costs. Made an acquisition of a large, low grade deposit, so he doesn’t own it.

Junior golds are extremely depressed. 25 year lows. Will persist for another 6-12 months. As long as gold is depressed, these stocks will not have a material upswing. $1300-$1350 should hold for the next few months. There is long term valuation for sure but that has been the case for 10 months.