TOP PICK
One of the more inexpensive integrated companies around the world.
TOP PICK
(A Top Pick Jan 7/05. Up 26%.) One of the more inexpensive stocks. Treading water at the $21/22 range. Even if the Ming deal went through, would hope to get $24.50 which is a 16% rate of return. Brascan releasing is good as he feels it will be a great performer on its own.
TOP PICK
A Canadian resource company. Tough to find value on the oil/gas/mining side of the market. Sells peat moss products into the US market. Had been hurt with the energy prices and transportation. Yields 10% currently.
BUY
Has been one of his key positions for 1 1/2 years. Has always had a hard $4 target on the stock. Now blasted through that number, so not sure what to do about it. This is the year that they start drilling in Venezuela with 10 holes, 3 higher risks. If they hit their exploration targets it could double from here.
BUY
Had a pretty good start a couple of years agol and then stumbled a bit. It now looks like they've pulled it together. Great asset base and good management. Slightly undervalued. They have the ability to grow the company.
BUY
The key point , is this going to be a diamond mine. If it does beome a successful diamond mine, it should be worth a couple of billion $'s. Risk/reward is good.
TRADE
Have a great success story in their exploration and they keep firing on all cylinders. Likes it very much. Hard to evaluate the numbers as there are so many moving parts to the company. Cautious on it right now.
DON'T BUY
Drilling in Canada is sort of a duopoly between this and Precision Drilling (PD-T). An exceptionally well run company. Stunning free cash flow. The problem is the drilling cycle, so far, has a record number of wells looking like another record being set. The stock reflects that. Historically juniors have just thrown money at the drillers, but are more disciplined now. Would rather play the producers than the drillers.
DON'T BUY
Drilling in Canada is sort of a duopoly between this and Ensign (ESI-T). The problem is the drilling cycle, so far, has a record number of wells looking like another record being set. Drilling stocks reflects that. Historically juniors have just thrown money at the drillers, but are more disciplined now. Would rather play the producers than the drillers.
DON'T BUY
Just in the Merger/Aqcuisition time of the year, so companies are at a stage where they are hard to evaluate. Pretty much fully valued.
HOLD
Has come off a bit, but this is just a small breathing space and you have to let it do it. Extremely high risk exploration. Will be spending $130 million on pure exploration in North Africa and anything can happen. Wait for a fundamental shift or a real technical breakdown (which this isn't).
DON'T BUY
Will be a small diamond operation. His valuation is slightly less than where the price is today. Fully valued.
DON'T BUY
A nickel play with a bit of a gold angle to it. Has been a terrific performer over the last 3 years. On his hit list. Would love to own it a slightly lower valuations. Slightly expensive on a cash flow basis.
WEAK BUY
Has spent considerable time looking over this one and it shows up incredibly inexpensive. There are 2 types of resource companies. Long life companies which are low cost (which he likes) and a 3/4 year reserve life. This one is the latter with a 3 year reserve life. Great technical team managing it.
HOLD
There are only so many investments that fit into the uranium category. The trend is on and it's in the right place at the right time. Can't get his mind through the valuation and it is trading through the fundamental value right now. OK speculation on a uranium play.