Yamana Gold Inc. (YRI.TO)

At this price, he would certainly begin to look at this. Have always been a very disciplined company. Very good at controlling costs and costs of production have been coming down. Until recently it has been a bit of a premium to a lot of the other, more senior golds, because you are paying a lot for some prudence. Also, going out over the next couple of years, he doesn’t see the growth in their production profile that he sees in some of the other companies. He prefers companies that have a higher probability of growth and production as well as strong cost control and effect of management.

There are very few companies in the whole gold space to like. A bigger company gives you more safety and a diversity of assets. A bit concerned about new mines they are bringing on as to whether they are performing the way they should. Historic numbers are good, building the company out and growing production. Yield of 2.22%.

Looks healthy. Golds are seasonably in play right now and will be for another month or so. His target would be around $15.

(A Top Pick August 3/12. Down 23.07%.) This is the company to play in the gold space. One of the few that have not written off any of their assets. They are diligent in terms of which assets to acquire as well as in capital discipline. They are focusing on the higher grade. Cost-cutting is in place.

About 20% of their assets are in Argentina and that could grow if they wanted to. Owns a little bit of this but it is not his favourite. Has quite a bit of leverage on the upside. Rates it as a Neutral with a $16.50 target. Good jurisdiction with a lot of their holdings in Canada.

He has not been a big gold player in the last 6 months. Would rather be involved in equities. However, gold stocks are starting to look interesting because the valuations have been crushed. He would buy them more as a value play, but given the caveat that the value is determined largely by the price of gold. On this one, he would be a little bit concerned because 30% of their assets are in Argentina and that is not a place where he would want to have 30% of his assets.

It will probably be a survivor, perhaps not generating the cash people expected. Don’t sell down here, ride it out. He owns G-T

Assuming that gold drops to $1000, do you think a company like this would survive? Should he wait for it to go to $8.50 range? Likes this as a mid-cap story with good production growth coming down the road. Have a good balance sheet and they don’t need to go out and get money. If you wanted the gold company, this would be the one to own.

Everything is coming unglued in the gold sector. If the industry thinks we are going to be here for any length of time they will shut down mines so we are in a wait and see mode. $1155 is a major support and he thinks we are going to go near this level. This would be a phenomenal buying opportunity.

Have a fairly good production profile in terms of increases coming up over the next few years. Has done pretty well. Expects to see them producing well over 1.5 million ounces a year in the not-too-distant future. On a price basis, he feels there are some relatively better values in the gold market. (See Top Picks)

Have done a very good job of slowly building out the company. Dividend went from nothing to over 2%. It will go to 5-year highs.

(A Top Pick Sept 7/12. Down 31.95%.) Sold his holdings at $20.40, a 16.8% gain. This company had historically peaked at 2X Book so when it got back there, he Sold. (See Top Picks.)

Feels the gold market is at a critical point. Gold still hasn’t tested the previous lows although it went below $1400 today and could go even further.. Way too soon to add positions.

Likes this but trying to pick a bottom in golds is very, very tough. He thinks it is all a function of that ETF. That gold ETF is under distribution and it could take a decade or more to get to the bottom of where gold is going to be. You can trade on little bounces. This one is probably going to bounce to the $15 level.

Believes there is a double bottom in place for bullion. Likes gold here even though he has never been a gold guy. This one disappointed in their last earnings report. Well managed company. 1^st quarter is always their weakest quarter. He would hedge his bet of owning a gold stock by picking up some iShares Gold Bullion (CGL-T).