Rick Rule St Andrew Goldfields Ltd. SAS-T COMMENT Aug 06, 2013

Gold producer in Timmins Ontario. Have 3 small mines and combined have about 90,000 ounces of gold production. The key is to grow that production from somebody that has adjoining properties. Stock is hanging in nicely here.

Likes this. Small producing gold company with 3 mines in the Timmins area. Produces about 80,000 ounces per year. Low cash costs of under $1000. If they can continue building out each of their 3 mines with gold prices going over $1300 an ounce, it will be a decent cash flow generating machine.

Have a lot going for them. Reasonable results. Reasonable balance sheet. Gold under $1300 an ounce will make things a bit more difficult for them.

When gold was at about $1200 an ounce, it was on the margins of being profitable. Likes the company. Has a good balance sheet. Management seems good. This one can certainly profit with the price of gold going up. (See Top Picks.)

Not the kind of company he owns. A small deposit. He would like more deposit risk for a larger deposit.

He likes it and thinks it has tremendous potential. Financially it is in pretty good shape. He could see it doubling or tripling from this point.

He wouldn’t buy right now. There is a takeover offer on it from Kirkland Gold (KGI-T), but it is a share offer so you don’t know what price you are going to get. Thinks it will still go up a little bit from here, but it depends on the price of gold. He prefers cash offers.