TOP PICK
Uses as a pairs trade against Boardwalk (BEI.UN-T). Both came off a lot last year. Boardwalk has gone up 50%-75% while this one is up marginally. This is about 8% yield and Boardwalk is about 5%. Trading at 10X Funds From Operations while Boardwalk is about 13X-14X. Vast majority of their apartments are in Ontario.
TOP PICK
Gold operation in Eritrea with 40% government owned. Will be producing net 250,000 ounces of gold near the end of 2010. Cash costs of $200.
TOP PICK
Gold. 2 assets in Brazil as well as a copper deposit in Mexico.
PAST TOP PICK
(A Top Pick July 7/07. Down 11.5%.)
PAST TOP PICK
(A Top Pick July 7/07. Down 50.6%.) Has had good performance over the last year. (What?) Part of a good balanced portfolio.
PAST TOP PICK
(A Top Pick July 7/07. Down 15.2%.)
DON'T BUY
Has been diluted by a convertible. Have increased their production ramp up but there are better opportunities elsewhere.
COMMENT
Has been a fabulous story. Goldcorp has recently taken a substantial stake of 10% in them. Part of a good balanced portfolio.
BUY
Made up of several smaller mines. Very cheap. Making a lot of money.
PARTIAL SELL
Lake Shore Gold (LSG-T) has just made a bid for this company. They share the properties. Stock has run quite a bit and he has taken some profit. Would add on any big pullback.
HOLD
good management team. About 7 million ounces. Unfortunately they are in the Central African Republic and there is a lot of scepticism as to whether they will be able to permit and economically exploit the resources. Could take a long time and there are a lot of risks.
COMMENT
Geothermal. Expecting an increasing number of plays in the sector over the next 10 years. The way to play this is by buying a basket.
BUY
Believes in peak oil and the oil sands is a great place. Relatively cheap at about 13X PE. Thinks their integration with PetroCan will be successful.
COMMENT
Gold. In his opinion, the price of gold will break out above $1000. Looking for it to form a base of $950-$1000.
DON'T BUY
Don’t have any credit risk. They are processors of transactions. Good company, a little too expensive. Prefers Mastercard. Multiple should come down into the teens to be a buy.