TOP PICK
Has struggled a bit this year in getting Namibia up to full production. Thinks this will occur in 2008. Looking for upside in late December with their Malawi project potentially having an increase in resource. Good price. NAV is close to $7.
TOP PICK
Strong management. Uranium play in Wyoming that was drilled out in the 70’s and bringing it back to life. Think they can get a mine up and running in 3 to 4 years. Very close to Cameco’s (CCO-T) and Areva’s (out of France) Properties that currently produce uranium, so there is always the potential for consolidation.
TOP PICK
South Africa. Expected to produce both uranium and gold. A near-term producer that has done a good job in developing their properties. Trading below NAV of $12-$14.
PAST TOP PICK
(Past Top Pick Nov 24/06. Down 19.7%.) There is a take-out offer for the shares. The whole REIT market has been in a slump. This is US properties. He sold out at around $13 - $14.
PAST TOP PICK
(Past Top Pick Nov 24/06. Up 20%.) Increased distributions this year. Starting to trim shares when it gets into the high $30's. Feels the fundamental price of oil is closer to $75. Still a long-term Hold.
PAST TOP PICK
(Past Top Pick Nov 24/06. Down 13.6%.) Sold half at his position. His reason for holding this was because of the break up scenario. Currently under a lot of pressure. Good holding for a long-term investor.
DON'T BUY
Trimmed about half of his position at around $13 when the Kazakhstan government decided to enact legislation to allowing them to change natural resource law. That was on an oil/gas field. Since then, company has reduced its guidance on production by over 40% in 2008. Management has to prove them selves.
BUY
Uranium exploration. Their goal over the next 5 years is to find some deposits on the east side of the Athabascan as well as the Hornby Basin in Alaska. Has just raised some money. A great buying opportunity. Strong management.
COMMENT
Watching this one closely. Had some interesting drill results and are drilling in the same area in Labrador that Aurora (AXU-T) is. Exploration play so comes with risk. Area doesn't have a lot of infrastructure so there are a lot of fixed costs if they ever decide to build a mine.
DON'T BUY
Has probably found a bottom here. More focused on places where major uranium has been found in the Athabascan. They have staked a lot of land in an area that is very swampy and very deep. Prefers others.
BUY
An ISR (In Situ Leach) operation in the US, which is more environmentally friendly and lower cost. Have 2 projects that should have production in about 3 or 4 years. Have $1 per share in cash. Looks like they are on track.
BUY
Uranium exploration in South America. Tax loss selling at this time of year will create further pressure in the first couple of weeks in December. There'll probably be a rally in the 1st quarter of 08. Pretty good management team.
HOLD
This is working on so many projects and they have so much property and land that they will not have the manpower and drills to be able to drill it all out. Prefers others.
BUY
Currently producing uranium. Has exposure to infrastructure as it has some ownership of the White Mesa mill in the US as well as the McLean Lake mill in Canada. Production disappointment in the last 12 to 24 months. Under $9 would be around NAV. could be an acquisition target by a major or a utility.
BUY
Have some interesting prospects on some properties. Have some financial partnerships with South Koreans. Looks like it is forming at bottom here. Not his favourite, but it meets his initial tests so it is starting to gain some attraction.