Jaguar Mining Inc.

(A Top Pick July 29/10. Down 48.12%.) Has added to his holdings.

(A Top Pick Dec 16/09. Down 56.16%.) Seems to be a disconnect between management and operations. Sold his holdings

Gold production in Brazil. Small amount of net debt. Contrarian view is that it has been punished. Near its 52-week low. Production is growing from 155,000 last year, up to 200,000 this year and north of 300,000 next year and possibly 600,000 in the next 5 years.. Very cheap.

Gold production in the Iron Quadrangle in Brazil. Good growth profile with significant exploration upside. Potential to be 600,000 ounce plus producer in the next few years. Relatively cheap valuation.

This would be his preference in the gold sector. Very rapid growing production profile. Plan to be an 800,000 producer in a couple of years. Currently producing 200,000.