(A Top Pick Sept 17/13. Down 37.05%.) Was almost thinking of adding it as a Top Pick again, but the timing wasn’t quite right. They are going in through a pocket of lower material now, so earnings and cash flow are not as high. Still have a lot of cash. Thinks they will continue to move forward and get their grades and production back up, but the market just doesn’t care.

(A Top Pick Sept 17/13. Down 28.99%.) A year ago this was a sort of defensive position. Had lots of cash on the balance sheet. One of their issues was that their costs were too high. They went through a bit of a turn around to bring down those costs. They haven’t brought down the costs enough. Looking at the sum of the parts, he would think there would be a number of companies that could come and buy up their assets, and break it up for the different assets.

(A Top Pick Sept 17/13. Up 41.63%.) Pays a wonderful dividend. Doesn’t have a lot of growth, which is one of its knocks. There are a couple of catalysts that could propel it. Everybody hates Argentina, and they have the Navidad asset there, one of the world’s largest undeveloped silver projects. 3.5% dividend.

Very cheap stock. Re-jigged their IRR, which wasn’t good enough. Took away an expensive shaft that they were going to build. Have gotten it to an area where you have a very high IRR, and ultimately the valuation proposition is excellent. 2016 EBITDA target is $115 million, which should double over the next few years.

One of the newest silver mines. Have done a great job of ramping up. Will produce roughly 20 million ounces this year and make lots of free cash flow. With the money, they are going to start to initiate a dividend in Q4. Will be buying back some of their debt. Will also be putting an expansion into the mine, which will be very cheap to increase 20%-25% in throughput.