TOP PICK
The only major mining company, outside the golds, that we have left. Has sorted out its financial affairs. Some very good mines. Very much levered by coal and then by copper. Try to buy at $18 or under.
TOP PICK
Mining in Egypt with the only mining permit that exists. Have converted an oil/gas license to mining. Have a great asset.
TOP PICK
Nickel production is on hold, but ready to go. Will stockpile for a month or two while waiting for Inco to open their Vale smeltering plant. There is also a straight possibility so the downtime might go on longer.
PAST TOP PICK
(A Top Pick Apr 1/08. Down 31.12%.) Improved considerably over the past few months. Distribution should be safe. Probably the longest stated reserve life in the world.
PAST TOP PICK
(A Top Pick Apr 1/08. Down 33.1%.) Just making an Australian acquisition giving them an opening into Asia. But the street on their growth numbers.
PAST TOP PICK
(A Top Pick Apr 1/08. Down %.) Nickel is on hold at the moment. Developing a large mine. Thinks there will be a recovery but will always be on the side roads rather than the main highway. You'll have to be patient with this one.
COMMENT
Nitrogen plus potash plus retail operations in the US. In a bidding war for CF Industries (CF-N). This is a concern and if they do win can they nicely merge? Prefers Potash (POT-T).
DON'T BUY
Holdings are off to one side of the normal oil sands operations. Vast territory. Very long-term promotion. It's not the price, it's the concept i.e. does it become an operating entity in the long run.
HOLD
Speculatively, it's potentially a takeout. Very good one to hold. Fully valued unless there is an escalation in oil prices.
COMMENT
Big golds have been pretty slow compared to the base metal. Very solid company. Wouldn't buy it for any exciting price rises. Any acquisition adds little to it. Thinks he could go to $50 presuming a continuance of the firmness of gold.
BUY
Gold in Burkina Faso. Good management. His probabilities of success are very good based on management's previous success in selling a gold mine. Have started drilling. Speculative.
BUY
Biggest gold deposit in Canada under development. Logically it will be taken out.
BUY
Copper, zinc and silver. Latest grade announcement didn't entirely please the market but doesn't know that this is a serious problem.
BUY
Heavy/light oil in Colombia. Widely believed that the company is moving well towards having a pipeline. Great assets.
HOLD
A bit financially incumbent but does hold a very significant part of the asset, which Nexen (NXY-T) also holds in the oil sands. Thinks it is a takeout situation eventually. Speculative.