Dundee Corp. (A) (DC.A.TO)

The value of their portfolios is substantially greater than the price of the stock. He trusts management and they have done very well as a mining merchant bank supplying capital and expertise. They may be seeking to become a mining company. Dundee Corp is a very good way for Canadians to participate in the mining industry in a broad sense.

Suspects it may struggle a bit in the near term, as it trades like a merchant bank. It supports good projects. Doesn't need to raise any $$, and so it gets very little research coverage. You have to do your research on it, as it takes a while to react to markets. Very strong underlying value, superb management team.

Note: He's a large shareholder.

Selling at 40-50% discount to value of its holdings. Very fond of management style. Well run. Discount + Well run = Should do well over time. No dividend.

Disclosure:  CEO’s father was a mentor to Rick.

It has a collection of assets in the real estate sector which could be interesting. The CEO owns a lot. Watch governance in this space. He looks at it every couple of years.

A better choice for those investors who like to be in the juniors, but who do insufficient due diligence. Buying this lets you participate in the process of merchant banking for natural resources. It's like owning a mutual fund that pays you a dividend, instead of charging you a fee.

In effect, a merchant company. Thrives by adding expertise and capital to other mining companies. He's long this one.

Disclosure: Fan of the family, the founder was his mentor.

Expecting further price appreciation. Has been doing business with family for 4 generations. Second generation of business leaders very strong. Good way to get exposure to micro resources sector in Canada. Very good capital allocation. 

Company has over invested in assets outside mining. However, company has been rebuilt, and is emerging as a premier company. Will continue to invest in this company. High quality due diligence. Would recommend buying. 

Excellent company exploring for high quality assets. Son of previous owner has taken over the company and turned it around. Sum of the parts worth three times what it currently trades at. Complex company - can hold back investor interest. Overall a very good asset base that is under valued. 

It broke a down trend. It has pretty weak upside. The recent level of highs has not been taken out. It is struggling.

A holding company that owns a lot of different things. Real estate is a big part of it, but they also have a lot of private companies in the resource space of energy and commodities, which have been dragging them down a little. Also, have some biotech which has some upside. This is somewhat complex, but he would say that there is value in the company. You need to have a little bit of patience; longer-term he thinks you will make good money off of this.

This is more of a pure play on commodities and real estate. He is staying away from the name. It is illiquid and doesn’t pay a dividend. He is pretty negative on commodities. He doesn’t see any material value for his shareholders.

A holding company that has a number of interesting businesses, including real estate. They are also involved in Canada’s first ever SPAC, and their SPAC is coming to an end in the next 8-12 months, so you are going to see either a transaction or a return of capital to the provider. Expect it will be fairly newsy over the next 6 months. A well-managed group.