Roxgold Inc (ROXG.TO)

They have own this for a couple of years now. High-grade gold producer in the middle of Africa. Low cost producer. Very little debt. Optionality on an increase in gold prices. (Analysts’ price target is $1.99)

A West African gold miner than can make money and produce $50-$70 million free cash flow for years to come. He want to watch this make money over the next two years. Rarely in his career has seen an opportunity like this one. Yield 0%. (Analysts’ price target is $1.98)

This will go intro production and make good money.

Burkino Faso underground high grade, which many didn't believe could happen underground. Great deposit and management team, but he's just not investing in production now. He doesn't own.

Believes the share price will either increase in 2018 or one of the West African consolidators will take them over. Either of those will be a nice outcome for owners of this.

He likes management and the asset. They are looking to produce 120,000-150,000 ounces of gold per year. They are all-in sustaining costs of around $740-$790. Have $50 million in cash. They are paying down their debt, which is only about $54 million. A single asset company and in a jurisdiction not everybody wants to be in, Burkina Faso.

(Market Call Minute.) Another Semafo (SMF-T) junior, another high-grade Burkina Faso mine that’s been built, going through ramp up. If all goes according to plan, they’ll have fantastic margins. A low cost producer with the ability to probably double production in the next 2-3 years in the next phase of satellite expansion.

A gold company in Burkina Faso in West Africa. Has $60 million in cash and an 8-year mine life. Feels they have a really great asset, and with some further exploration, it will be bigger. The stock has the opportunity to go from about $400 million in market cap to about $600 million. Because of the asset, there is an opportunity that it could get taken out in the next little while. (Analysts’ price target is $2.25.)

A Canadian gold company, based in Burkina Faso, West Africa. Throws off about $60 million in free cash flow and has a mine life of about 3 years. They are spending their money in exploration, and thinks they will be able to extend the mine life. (Analysts’ price target is $2.00.)

It is operating its mines. It has really come off. Thinks that this is really a great, long term entry point for it. They might also change their strategy and build this into a company, and that is what he is waiting on. (Analysts’ price target is $2.)

A really nice, high grade gold deposit in Burkina Faso. It has about a 1 million ounce in indicated resources. They are mining about 100,000 ounces a year. Very robust. Very fast payback. Great economics. Great management team. They’ve been pulling some good drill results from the other areas as well. He likes the story.

(Top Pick Dec 1/15, Up 136.92%) He never took the hit in the gold market. It can operate efficiently and now they are drilling deep and we should have more gold by year end.

This has a very high grade deposit gold mine in Africa. Feels it is a take-out candidate. A very strong cash flow.

Newcastle Gold (NCA-X) or Roxgold (ROG-X)? This is a producing mine and thinks it is probably a take-out candidate in the next year or so. Of the 2, he would think this one will have the better year.

This has a very high grade gold mine in West Africa. He thinks it is a take-out candidate. It is just starting to come into production now and the cash flow is coming in. The mine is performing better than expected, which is very rare for a start up. Thinks it is a high-grade deposit, and someone will come in and buy it for the cash flow. On a take-out, you are looking at something a lot closer to $1.75.