Newcastle Gold Ltd (NCA-T)

Has a new management team with a lot of good connections with Toronto, possibly better access to funding. Open pit, heat leach deposit in California that was a former mine, so it can be permitted. The issue is that the grade going forward is a lot lower than what they were mining previously. He would be watching if the metallurgy, in terms of heat leach recovery, look the same. Do they have to crush it? They are in the middle of a reserve, which is something you have to watch. You also have to watch for water consumption.

Newcastle Gold (NCA-X) or Roxgold (ROG-X)? This was an old mine in California that was forgotten about. Brought in a new management team which redrilled it and brought in new techniques. Not in production yet, but is more of a drilling story. It will take development over the next 3-5 years to get it back into the mine status. It should be fairly simple. Of the 2, he would think Roxgold will have the better year.