Earning Reports to Watch (Nov 26-30)

It has been a disappointing stock to him.  They have had some hiccups, but likes their asset base.  The problem is that synthetic diamonds are taking away from overall demand.  They have not been operating as well as they should have been.  He might prefer Lucara Diamond (LUC-T).     (Peter Imhof)

Been a nice success story.  His opinion is that the commodity cycle has really played out here.  (James Hodgins)

He's owned this forever. They're a prospect generator model.They now have a project to explore but it's in Argentina which attracts negative sentiment. He himself is positive Argentina. He sees little financing risk and should deliver. To lessen negative sentiment, MRZ has diversified into Chile where he expects good results.  (Joe Mazumdar)

The silver sector has had a spectacular run. He has a prejudice against small mines, because they have all the risks of the big mines, but can never make you money. (Rick Rule)

They were abutting New Gold’s (NGD-T) Ashton project. They have an interesting exploration play and have sold some rights to New Gold. A speculative situation. (John Embry)

CCL.B-T A great label maker.  A fantastic story over the years.  He would never recommend selling it.  You also have IPT-T and have been selling weak with all the hurricanes in the last weeks.  They create a lot of value but there is better value with IPT-T.  He holds this over CCL.B-T because IPT-T are…

He is tempted to buy this because it is selling at a discount to the cash and securities in the company, and you get the assets for free. The thing that holds him back is that this has undergone a strategic change. At one point they were a prospect generator, using their acumen and other…

Intelligently run diamond exploration company. Has yet to see that they have economic pipes. Also into nickel but he has not been following this. (Brent Cook)

The Barkerville district has a lot of prospectivity. Their individual drill results are excellent but under the control of the Osisko company. He doesn't own it, because has a hard time getting the drill holes to tie together. That said, the district has a lot of promise and the exploration team is strong. The stock…

Doesn't know if the infighting will end. He likes them from a geological point of view--in northwestern BC. But the political scene about mining is rapidly deteriorating in BC, so he's underweight BC. (Rick Rule)

Have projects in Nevada and French Guiana. Until recently, French Guiana was a tough place to explore. However, the government has mapped out areas where you can mine open pit, areas where you can mine underground and areas where you cannot mine. That is a huge plus. Have a large deposit in French Guiana of…

Potash in an area that is very close to deals that have been happening. On Junior potash plays in Saskatchewan, he is becoming worried about capital spending on account of foreign majors coming in. Concerned about the long-term prospects of this company. (Prakash Hariharan)

A project that is effectively right underneath the Horne Mine Complex in Québec. Originally it was very low grade gold and copper, so in order for this to be economic, they have to be able to mine it using bulk mining methods, and keep the costs as low as possible. That would entail blockading. He…

Some of the people behind Gold Standard Ventures, are behind this one as well. If you follow success in this industry, you will do relatively well. They raised a lot of money for Gold Standard Ventures and it has done well. It is probably in the 8th-9th inning before it gets bought out. This one…

He doesn’t follow this company, but generic comments on graphite is that if you are keen on Elon Musk and Tesla, you should be keen on graphite. There is literally more graphite in lithium ion batteries than there is lithium. However, graphite is not all the same. You want really, really course graphite for batteries.…

Seems to be improving. The operating performance has improved. He is warming to it but there many other opportunities out there. (Rick Rule)

They're focused in Serbia. They have a good land package; major joint ventures wtih a copper producer; and they're drilling. Their market cap is reasonable and they have working capital. Just waiting for drill results now. (Analysts’ price target is $0.20) (Joe Mazumdar)

(A Top Pick Sept 9/16. Down 2.7%.) Has a world-class property in Argentina and a world-class CEO who has done this before. They’ve raised money from various sophisticated institutions at about the current price. At some point, given lithium prices and electrification of cars it is going to get taken out. Highly speculative, but if…

He looked at this project. It has good investors in it. They have a good CEO running it. It is a big project. The big thing is not only drilling out the resource which they are doing, but the metallurgy is very important in any one of these deposits, in terms of base metals or…

Used to own it, because they had a high-grade project in the Northwest Territories, but they were interested in a lower-grade target that didn't interest him so he sold. He doesn't know their company strategy anymore. (Joe Mazumdar)

They've been around for a while and own a lot of the Ring of Fire's nickel deposits. Ontario was supposed to open infrastructure so these deposits would get mined. It's a government and infrastructure play. But NOT has a lot of debt, with no cash flow. Government involvement can work out long-term. (Joe Mazumdar)

Precious metals will be a safe sector in the coming cycle (economic weakness). SIL has one of highest-grade silver developments in the world, and a prime takeover candidate. (James Hodgins)

Used to own it and would like to again this spring or summer. Knows the management team and where they're mining, Nevada, very well. (Rick Rule)

A graphite deposit in Northern Ontario. Preliminary Economic Assessment has been overdue but came out today and, if good, it would lead to a bankable feasibility study. They should start presenting now and telling people what is going to happen, as it looks like now there may be some good value there. (Bruce Campbell (1))

California company that makes very precise metal parts. A lot of their work comes out of the defense area. Recently got a new contract for a diesel engine and anti-lock brake component as well as green lead free ammunition. (Robert McWhirter)

Easy money has been made. (Ben Stadelmann)

Tempted to buy more.  They may get a small royalty from a mine they found.  They source really good simple projects to explore.  There is no catalyst, but you are buying a good company for less than the cash in the bank. (Brent Cook)

Located in Venezuela, which is a problem. If they have a major discovery there is a chance they could be expropriated. (Jaime Carrasco)

(A Top Pick March 9/18 Down 59%) He was taking a flyer on this one, which eventually went “cease trade” when documents were not filled on time. He sold all their holdings after losing faith in the company. Management made acquisitions, but failed to execute on the strategy. There are now issues on raising further…

This had disappointing results. Had come to the Street about a year ago talking about their new high tech Japanese equipment. Their big business is making moulds for automobile engines. It’s a purchase that auto companies would only make once or twice in a cycle. They hadn’t delivered in the latest quarter and the stock…

Great management and great Board of Directors. They just finished a raise. Doesn’t think there are any headwinds anymore. With a fully loaded balance sheet, they’ve got a great growth in their client base, having gone from zero to 42 with 17,500 payers in the last year. Just signed on an ERP Vendor news cycle,…

Want to wait for them to start flying, to see if they can do it. It’s not an easy business. Comes down to management. You might be OK, but there are easier ways to make money. (Fabrice Taylor)

(A Top Pick April 3/14. Down 12%.) A fully integrated agricultural company with a railroad to their elevators along with production of legumes and wheat. Thinks it should deliver quite nicely this summer because of what is going on in California. Feels drought is going to haunt us from a food inflation perspective. (Jaime Carrasco)

He doesn't follow this closely, because it's a pre-revenue company that isn't generating positive cash flow yet, so it's too early for him to consider. It's in the drone delivery space, an interesting space. The big problem is that he doesn't know the future of drone delivery or if this company can execute. He would…

Generally doesn't think carbon capture and storage is the solution to reducing emissions. Questions if this is a viable solution. Hasn't been demonstrated on scale. Carbon capture will play a role where there is a market for carbon dioxide, enhanced oil recovery. (Peter Hofstra)

They use sonar technology to find sub-surface mines and have technology for low level battery technology. Earnings are expected to be a 11 PE in 2020. Interesting technology and good opportunity going forward. (Robert McWhirter)

They extract methane from gasses from rotting garbage or municipal garbage. Their equipment pulls nitrogen from kitchen waste. They have almost completed an installation with a US client. It is projected to give them a 30% revenue increase. It is his second largest holding. It is thinly traded. (Robert McWhirter)

He has a small position, which he entered at $0.62. They are involved in silicone production. There is a potential US military order being worked on. Payback on their equipment is less than two years. There is opportunity in aluminum, zinc, and copper. He thinks this will be a great year for them. (Robert McWhirter)

He picked the worst Canadian bank year to date. It's underperformed. Their capital markets side was worse than expected. There've been questions about their Mexico operations with changes in that banking environment. They are a good dividend grower and will do another one likely in Q3. The growth of their mortage bank is slowing, though…

They are providing almost a royalty payment to those wanting to financial auto dealership loans.  They go out and borrow money and make royalty investment in those investing in a dealership.  He is watching for them to make a third party investment outside of their dealer group.  They pay a great dividend and have fantastic…

(A Top Pick Jun 22/18, Down 31%) He still likes this. This is beautiful technology. They are actually a miner. His strategy is to have this at 2.5% of his portfolio, so has continually added as the price has come down. He has not lost faith in this, just thinks it is early. (Jaime Carrasco)

Very well run, kind of niche financial company. Very sharp management that knows how to make money. They paid a dividend, which may explain the drop in the share price. Not a huge growth business, but pays a regular dividend of around 7%. If you are looking for income, you are well served. (Fabrice Taylor)

This is going to be the high-tech story in Canada. They developed a platform for real estate agents and have over 300,000 users now. The only problem with it was that it was not trading in the US, but it has now started trading there. Now a global operation. It’s illiquid. (Jaime Carrasco)

He likes it.  It is a very cheap stock at 8 to 9 times earnings.  They paid their first dividend a couple of months ago.  It is a sign of a company saying they are now stable and confident in their future revenues.  They buy alternative loans.  The dividend will grow over time and there…

The Canadian banks' multiples have contracted and now look attractive. RY grew their earnings 17% last year and the stock is up only 1%. They had that weird Q4 quarter, but they saw decent loan growth. They increased their dividend 9% and grown their book value. Payout ratio is 45%. They can increase their dividend…

The Canadian banks are good value. They've come off their highs in the recent reports, due to the harsh market action in Q4 2018. CIBC is the cheapest of the pack in terms of PE and highest yield, but it's also had its issues. It's priced accordingly. He likes the American exposure of TD, though.…

The cons: They missed trading revenue and their wholesale statement in their latest report, though all Canadian banks did. The pros: Only 8% of their business mix is wholesale; trading is 5% of that; both those headwinds are now tailwinds. Most importantly Canadian P&C was up 9%, which is a key metric. They bumped their…

Involved in the UK North Sea. In the process of drilling a well with the Lundins that is very important. In about 1 month will start working with Husky (HSE-T) in the North West Territories. Between the winters of 2008 and 2009, you will have a good shot if they have any kind of drilling…

Did a shareholder vote and Pacific Rubiales (PRE-T) will be assuming the management of the company. Drilling off the coast of Guyana. Got to about 1000 feet of the target. Because of gas creating a lot of pressure, they couldn’t finish the drilling. Potential is still there and could be a world-class discovery. Pretty good…

Being acquired at $7 but because of the lower stock price, market indicates the deal is not going to close. Doesn't see this as a good way of making a quick buck. You are trying to beat the pros at a game that they are very, very good at. (Ken McCord)

(A Top Pick Mar 26/18, Down 30%) Also a top pick, so he'll comment there. (James Hodgins)

Very cheap stock in 04 and then went parabolic in early 06, had a spiked top and then fell in late 06 and had a bottom of about $3. The risk is $.75 and until it moves, you won't know what the reward is. (Kenneth P. Norquay, CMT)

Just announced a deal last week where they are launching in Mexico. Thinks mobile gambling is a real growth industry. Has a tiny stake in this one. (Jerome Hass)

A big, long-term holding of his. Really likes this company and management with 15% EPS growth continually. They have a wide moat around their business and have global clients in a huge network. (Andrew Pink)

They are doing distinctive infrastructure, where they are digging trenches to get that last mile to the home. They are doing this in the UK, and have a large contract with one company. He really likes the story, but is waiting to see some revenues and earnings drop to the bottom line over the next…

A technology company. When you have a company that has cash burn and little to no revenues, that is a rough combination. Until there are some revenues, it is not justified to putting any capital into this name. (Jerome Hass)

It was a past Top Pick, but he is not in it today. back in 2018 they were adding patients and there were high expectations on growing cash flow. Then they had cash flow recognition issue on the accounting side as patients were slower to sign on than expected. If they can deal with those…

An enterprise software company that made a bunch of acquisitions over the last few years.  You are investing in management and their ability to deploy capital.  He likes it.  He cautions that you have to pay the right price for the stock. (Jordan McNamee)

(A Top Pick July 21/16. Up 8.81%.) They make the lives of hospitals more efficient with some of their supply chain management work. A high recurring revenue. Earnings are expected to double by April 2018, going from $.24-$.51, giving you a 22X PE. They are free cash flow positive. ROE is very good at 24%.…

This company has been in flux and is finally coming through its last phase. There has been a management and board of director change. There will be a lot of new client acquisitions and a capital cleanup, which will ignite growth. (Colin Fisher)

Got approval from FDA, but sales are not following through. Running out of cash. Any new financing could dilute stock price further. (Lou Schizas)

This company has a lot of scientific research to support the health care aspects of cannabis.  They also have extensive experience in low cost farming economics as part of their partnership with Village Farms (VFF-T).   (Charles Taersk)

A very well run company with a really interesting variety of nickel exposure in Norway and 1st rate exploration projects. (Peter Grandich)

Life sciences. Have an interesting regenerative technology. For example, they can take a hair follicle and extract certain cells, and then replicate them 1 million times and then re-inject them back in areas where they are needed. It is very, very rare to have a company this small with 2 products in phase 2 trials.…

He has been looking at this as it has become more attractive now. A mid-tier producer that has stagnated when a partnership did not materialize. They are involved in the specialty pharmacy business which could grow into the mainstream in the future. They could be bought out in the future. (Bruce Campbell (2))

This trades at low valuations – 12 times earnings.  A low cost producer in New Brunswick.  Yield 0%. (Analysts’ price target is $9.09) (Charles Taersk)

  (Ian Ainsworth)

This snow mobile marker was the crown jewel carved out of Bombardier. It is probably worth looking at and is a well run business. He has been waiting for a reason to buy -- maybe it is now. (Fabrice Taylor)

New technology officer. Early stages. Wait to see what happens. (Robert McWhirter)