PDAC, Toronto's major minerals conference happening now, is less busy this year because the show is charging investors to walk to the trade show floor and hitting booth traffic. The Barrick/Newmont/Goldcorp hostile takeover: there's a drive in this space to be bigger and relevant. Newmont would take on a lot of debt from Goldcorp, so there will be divestitures. The mid-tiers will watch the fall-out from the Newmont-Goldcorp deal if it happens. Brent Cook: It's musical chairs now with all the M&As, but this will slow down exploration in this sector and not add any new ounces to production profiles--that's a problem. Discoveries have been decreasing steadily since 2000. He's not sure what the mid-tiers will do in M&A this year.

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.

A well-levered company, but they got to manage geopolitical risk in Mali, Nicaragua, Phillippines and Namibia. Very good operators and have shown fine performance vs. the gold price.

Brent Cook: They have a virgin discovery in Finland. Smart guys running it. Good share structure with plenty of cash. They're finding lots of high-grade vertical structures. He's watching to see if they can execute to get the number of ounces they need.

They're in Idaho which takes time to permit, though it's good geopolitcally. Has a good grade for an open pit, 1.7 grams. The metallurgy, though, is a slight issue--can they find enough capital? Barrick has made a major investment under the old CEO in early-2018, so where does it fit under the new CEO? Their annual production could top 300,000 ounces a year. Brent Cook: The permit process is moving ahead slowly. It's one of the few better deposits in the US not owned by a major.

They have quality zinc deposits in Peru, but the zinc price is the issue, so is it a good time to sell it now? They will drill another 10,000 meters so find more high-grade. He escapes a scoping study by end-June. Has a flat chart though, reflecting the low zinc price. Zinc companies aren't making money these days. Hold until the price rises. Brent Cook: Zinc has been his most frustrating play.

Good managers in Newfoundland. But the issue is the continuity of the gold, so he's never bought it. An interesting play and geopolitcally good though infrastructure is slightly challenged. There's a potential for a big strike.

They're trying to get rid of lots of assets in Brazil--that's their big problem. Look at their long-term debt and if they have enough working capital or need to raise money from the market. If gold prices stay low, it will be an issue for Yamana. Brent Cook: The are marginal assets--leveraged to the gold price--which aren't economical unless the gold price rises. Not economical because input prices rise. He avoids them.

$45 million market cap. It has a gold project in western Quebec and hitting some high-grade at less than a meter, 600+grams/tonne. Their issue is continuity: will this grade continue? Now, it is an interesting play. Brent Cook: It's a narrow, high-grade vein but could be diluted which is a concern.

(A Top Pick Oct 16/18, Down 56%) He bought it because they had a great copper project in northwest BC, but drilling yielded declining potential. Lost 10% when he sold. Brent Cook: Get out fast when you find a fatal flaw in a mining company.

(A Top Pick Oct 16/18, Up 38%) A royalty company that's growing. They've been acquiring royalties wich assets that come into production in 6-12 months, so they'll hit their cash flow quickly. Brent Cook: They also own a hot deposit in Turkey that will come into play.

A pure play in zinc, which is why it's suffering. Zinc prices are low. See if TV is generating free cash flow--or else they have to go to market. Cash flow is more important than earnings. Can they sustain their balance sheet? They've changed CEOs so there's some uncertain around it.

RNX is producing as opposed to drilling like many companies are. They're also generating good cash flow. But continuity is a concern. Brent Cook: restrictive, small but high-grade veins.

An excellent team. They operaete in the Red Lake district. If Newmont and Barrick get together, they might divest in Red Lake. Brent Cook: He knows the Red Lake District well, but he didn't buy this because of continuity issues. He doesn't see a fatal flaw with them, but can they find mineralization then grow the resource? He's watching it.

Used to own it, a past pick and he took good profits. Geologically, the potential of this area is ridiculous, but the geopolitic risks are worrysome--the DRC (Congo). Brent Cook: This is the best undeveloped copper deposit in the world.