RB Energy (RBI.TO)

COMMENT
Have some very good growth projects in Africa. In the middle of a bidding war on a very big gold deposit in the Congo. It's a project that is incredibly cheap on a valuation basis because of location.
TOP PICK
(Not allowed to have Top Picks so these are his “Top Canadian Holdings” and he is disclosing conflicts of interest.) Can see where production increases will come from and they have cash to build it up. Low cost producer.
PAST TOP PICK
(A Top Pick Jan 17/08. Down 8.1%.) Because of some political risks he sold his holdings last summer. Currently too expensive because of political risks.
TOP PICK
Cash costs are excellent. Likes depth extensions below open pit mine. Local political problems created a sell off. Financing expansions out of cash flow. Likes long term potential.
BUY ON WEAKNESS
Sold some of his holdings at around $8.60 expecting golds to have a bit of a pullback, which is what is happening right now. Would buy in the low $7.00's. They've had great exploration results on their main property in Ghana. Their Tasiest mine in Mauritania is getting up to speed and their underground deposit is going to be producing by 4th quarter.
TOP PICK
This is his core junior gold position, not necessarily a way to make tons of money. There are very few, very clean, well run growth intermediate gold stocks.
TOP PICK
2008 production, including the Tasiast mine, of about 250,000 ounces per annum . Also have a lot of extensional new pits and exploration potential of depth. Have a new underground high-grade discovery.
TOP PICK
A 2-project company. Recently purchased a gold mine in Mauritania. This is the one of the Lundin (LUN-T) companies. Finding a lot of high-grade deposits in Uganda. Thinks they can do about $.50 on a cash flow basis next year.
PAST TOP PICK
(Then 3.44) It's still has lots of room to run. He's holding it.
PAST TOP PICK
(A Top Pick Nov 20/06. Up 35.3%.) Recently made an acquisition, which it will now have to digest. Could drift sideways for a while. Still likes.
HOLD
In the Lundin (LUN-T) stable and they are red-hot in mining. Thinks this will become the consolidator in West Africa.
BUY
Playing gold using a barbell with Red Back Mining (RBI-T), a very inexpensive asset value company along with Goldcorp (G-T), which has a terrific looking profile.
TOP PICK
Inexpensive way of buying ounces of gold. Just updated their reserve analysis and found another good pod. Inexpensive.
HOLD
There are so many gold stocks, that it is just not the front line top six. Its improving. Just be patient.
PAST TOP PICK
(A Top Pick Mar 24/06. Up 20.6%.) Conservative way to play gold in a growth company. Well-managed.
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