Robert Cohen B.A.Sc., MBA, CFASabina Gold & Silver Corp.SBB.TOBUYJan 12, 2010

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.

(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.

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.) Nobody seems to care about this, but he does. Has a great set of assets. No immediate catalyst for it, but it is a Buy.

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.

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.