Sherritt International Corp. (S.TO)

(A Top Pick Nov 16/11. Up 14%.) 8% bonds. Fantastic assets. Low amount of risk.

Selling at deep value right now. People are looking for the mine in Madagascar to either make it or break it. Some people would argue the area is not as politically stable as in North America. They still have other operations. It could be a reasonable buy here but it is more speculative. You could stand to make significant capital gains over the next couple of years.

Madagascar. On last conference call CEO was emphatic that commercial production in q1 next year company is able to split up company. 3.75% dividend. You could get an inquisitor that wants to cut it up. 6-12 months hold.

Madagascar nickel mine is up and running. Thermal coal is their largest asset, though. 3.6% yield and BBB rated. Assumes Nickel will stabilize.

If there are problems related to politics that's a big negative always. But China is slowing, so stocks like this will stay weak for most of next year other than trading rallies.

(Top Pick Nov 22/11, Up 14.60%) If China recovers, the nickel market will go up. Stock could go up 50% in a year.

Bonds maturing in 8-10 years? Likes the 8-10 year term.

(Market Call Minute.) His least favourite among the metals.

Once the new nickel mine in Madagascar gets going, it could change the outlook but it has been a long, tough struggle. When it is operating smoothly, he might have a look at this one. About 3% dividend yield.

He thinks the chart is showing a double bottom. The sector is good. Thinks it will do fine.

2014 bond. Should caller get out of it. Guest was a part of the 2018 issue. He likes the company. Comfortable that company can mature the bond, if not call it earlier. It is definitely a hold.

Classic deep value play that no one likes. Nickel mill in Madagascar is the key part to watch. The sum of the parts is worth more than the whole so if it is every broken up you get more.

This company has never created value. He has followed the balance sheet and through the years there has been absolutely no growth. This is a stock that he would not touch.

He gets paid 3.3% dividend while he waits but won't raise dividend because they are investing in Madagascar. Is it worth holding? It is one of his few pure plays. Nickel. Cuba is less and less of an issue once they get the Madagascar mine online.

Sees good value but this is not a valuation issue but is really an issue of a couple of things. Stock primarily trades on nickel, which is fairly range bound. There is also geopolitical risk because it is located in Cuba. This makes it hard to see where the catalyst comes from to move it higher. When you see global PMI tick above 50 that will be the signal to back up the truck because the valuation is attractive.