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Stock Opinions by Bill Belovay

TOP PICK
Operations are in Brazil. One of the largest nickel sulphide deposits, which have been discovered in the past 10 years. Nickel sulphide deposits are rare, easy to operate and low cost (est. $350 per lb.). Low grade at about 6% of nickel but the open pit is going to be producing about 1 billion pounds of nickel over its lifetime.
metal mines
TOP PICK
Nevada is an extreme richly prospective area for gold. Bringing the old Hycroft mine back into production, possibly in Q4. Expecting to produce 100,000 ounces in 2009. A heap leaching process meaning low cost. It doesn't require crushing. Also have about 200,000 acres of very prospective gold properties. Incredible management.
precious metals
TOP PICK
Highly leveraged to copper, zinc and coal, which are important products for China. They have a very strong shareholding structure, which will prevent anybody from hijacking or buying the company. This is a long-term hold.
Mining
PAST TOP PICK
(A Top Pick Feb 15/07. Up 52%.) Chose it because it was a takeover target. It was acquired last fall.
integrated mines
PAST TOP PICK
(A Top Pick Feb 15/07. Up 37%.) Hoping for an aggressive buyout sometime this year. Has been languishing for too long. In a trading range for about 2.5 years. This means that accumulation is taking place.
precious metals
PAST TOP PICK
(A Top Pick Feb 15/07. Up 12%.) Still very confident on this company's prospects. An easy business.
other mines
WEAK BUY
Copper/molybdenum play. Molybdenum currently is hot, mainly because certain hedge funds have been trying to corner the market. Highly speculative as hedge funds can move the market and currently are in trouble. If they have to bail out it could drop the price. This is a reasonable company to own.
precious metals
BUY
The deeper they are drilling down on Rice Lake in Manitoba, the better the grades are becoming.
precious metals
WEAK BUY
Have operations in Nevada. Open pit mining. The only thing that puts him against this company is that they are starting the habit of hedging gold. He has 10% hedged at $800. This will probably run with the junior companies if gold goes higher.
precious metals
BUY
Gold mining in Ecuador. Recently had a pullback because of concerns about Ecuadorian politics. Stability agreements are currently being negotiated and once they are signed, you'll probably see takeover activity. He is not concerned. Will probably become a takeover target.
precious metals
COMMENT
Platinum prices are high because of problems in South Africa, with their endemic power failures. This company could well be a takeover target by Exstrata (?).
precious metals
BUY
Just announced a gold find in the Red Lake area. This is a good area for gold. News flow will probably keep this company moving.
precious metals
DON'T BUY
A dilemma for him. Has a very hefty market capitalization, which is a concern. Have a discovery but don't have an N33101 so he doesn't know the size of it so it is purely speculation now. Location is totally infrastructurally challenged with a bog land. Geologically in a very interesting area with potential of a very large nickel type deposit. Neighbouring titleholders’ market capitalization is just a fraction of this one’s.
precious metals
BUY
Iron ore has become the new gold. China has consumed so far, 2 billion tons of steel and this could go up to 10 or even 20 billion. This is probably a good place to be for at least the next 2 years.
Financial Services
BUY
Has a credible large gold, low-grade deposit in the Val-dor, Quebec area. The problem is, the site is on the town of Malartic. They do have good communications with the town’s people and hopefully things can be resolved. The question is, will the people be agreeable to moving?
metal mines
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