Charles Oliver, HBSc CFA Sabina Gold & Silver Corp. SBB-T BUY Mar 25, 2014

Have gold assets as well as silver royalties. The Back River gold property continues to grow in ounces. A good, leveraged way to play the silver space.

Likes the people and likes a lot about the deposit but it is too remote for him. Doesn’t think this is the type of deposit that gets built this cycle.

A gold developer with a development asset in Nunavut, a resource of about 5 million good grade ounces. This size of mine is an interesting deposit to a potential acquirer. He typically stays away from developers because they burn cash flow for a number of years as they build a mine. When they start generating cash flow is when he usually becomes more interested. They have recently come into some permitting hiccups, which probably puts a cap on the stock until they address those concerns, which can take 1-2 years.

(Market Call Minute.) This depends on how you feel about Caribou. The project has been set back as a consequence of environmental concerns. Well run and a high quality deposit. Very, very strange politics.

Have a good open-pit project in the Yukon with a good production profile. You own this as a take-out target. They are doing a lot of exploration around the area to prove the upside potential and de-risk any development issues.