Queenstake Resources (merged to Yukon-Nevada Gold) (QRL.TO)

DON'T BUY
On his short list of gold companies that he's waiting to come off here. Technically it might not if gold is still coming off and it bottoms here. Problem is, it's a one asset company so would like to see them operate it for longer.
BUY
Has the capacity to produce 350,000 ounces of gold per year. Reserve life showing now is very short, so is a major exploration story and have a terrific land package in Nevada. Can continue to develop their reserve base, but it's a high cost operation. One of the best levered plays on the market.
DON'T BUY
Has been a dog. A higher risk situation.
BUY ON WEAKNESS
The one main problem is that it has too many shares outstanding relative to a company with this level of production. Did a wonderful job with Jarret mines. Would consider at the $0.40 level.
HOLD
Nice company. Wouldn't buy, but wouldn't sell it.
BUY
New drill results in Jarret Canyon are positive. Stock has pulled back because they have to raise some capital. A short term negative. If they can fix the production problems, they'll have great leverage to higher prices. Very cheap.
DON'T BUY
Good management. Feels gold has a lot of potential, but the easy money is off the table.
BUY
A one mine producer. They are exploring and finding gold around the existing mine. Trading at a discount to its NAV.
DON'T BUY
One of the very few companies based exclusively in the US so as the US$ declines and gold prices rise, revenues will increase. The Jarret Canyon mine, a complex ore deposit, will be a difficult deposit to mine. Operation costs will be high.
BUY ON WEAKNESS
A good turn around.Starting to produce well. An OK play.
TOP PICK
Making free cash flow and trading at a very low multiple of 3.7. The free cash could allow them to make acquisitions. Short reserve life.
TRADE
The company broke down many times. The company has one major asset.
BUY
Turnaround company. Once given up for dead. Good company.
BUY
Has suffered from the brutal correction in the market. Although there has been a terrific correction in gold shares, we are still in a bull market in the price of gold. Hugely underpriced.
BUY
Down over the last 3/4 months with the rest of the golds. Net asset value is around $1 so you are buying it at half value.
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