Stock price when the opinion was issued
Down quite a bit but feels this is just a function of the rest of the market where small juniors have come off quite a bit. Had excellent drill results and they continue to do what they said they would do. He has been adding to his position at these prices. Very cheap. At some point he thinks it will be a consolidation play.
(A Top Pick Sept 28/12. Down 66.67%.) An exploration company and they continue to come up with good results. Juniors have been decimated here because this is not a cash flowing company. They have proved up a few million ounces and he expects them to continue to do so. They are doing everything that he wants them to.
Has continued supporting them through financings over the last several years because he feels there is a huge amount of value in their assets. Have assets in Timmins right next to Goldcorp’s (G-T) mills. One day assets will be processed there and it is only a question of time. Not adding to his position right now.
One of the best stories he has heard in many years in the resource sector. Trades at around $15 per ounce in the ground. A lot of insider buying. Have come out with very good results. Currently has about 2.8 million ounces and they say they can get to 5,000,000 ounces just through the drill bit over the next year or so.