TOP PICK
About 4 million ounces of silver production in Argentina. Cash flow multiple 8-9X that is reasonable for one asset alone, but has a big land package around Andean Resources of which Goldcorp (G-T) just paid $3.6 billion. Will be starting drilling. Also has about 11 billion pounds of copper.
TOP PICK
Gold assets in Ireland. Have about $32 million in cash and an indicated resource of 400,000 ounces with another 1.1 million inferred ounces. 40,000 m drill program, which they will be doing for the next couple of years.
TOP PICK
About $6 a share in cash. Cash and asset rich. Price to cash flow is reasonable. Great potential for reorganization.
PAST TOP PICK
(A Top Pick Oct 16/09. Up 343.59%.)
PAST TOP PICK
(A Top Pick Oct 16/09. Up 184.84%.)
PAST TOP PICK
(A Top Pick Oct 16/09. Up 25.84%.) Still likes but sold his holdings. May put it back on again.
COMMENT
Good company and good asset. Reserves of about thirteen million ounces. Have most of their financing in place and are waiting for a couple of permits. Good growth story.
BUY
Putting a lot of cash to work with over $100 million going into investments including about $20 million to Bolivia. Also developing a mine in Spain. Also some property in Wisconsin. On a PE basis, still trading single digits for 2012. Payback in Bolivian properties will be about 6 months only.
COMMENT
Big play in the Central African Republic. Had some issues dealing with government permits that this has improved. Starting to get optimistic about this company.
WAIT
Sold holdings when it got expensive> Stock has now come down quite a bit this year. Getting close to production. Difficult to evaluate but as more drilling and information becomes available he’ll be able to make a better assessment.
HOLD
Goldcorp (G-T) is the biggest shareholder in recently did a private placement but the stock did absolutely nothing.
TOP PICK
Reasonably valued and an attractive dividend, which will keep growing. Strong Cdn$ can be used to advantage. Although they have a lot of cash, they recently acquired some debt at very attractive rates.
TOP PICK
AAA balance sheet. Excellent dividend at about 3.5%. A lot of cash but recently acquired some debt at very attractive rates.
TOP PICK
Gold bullion/Gold equity. Some of the influences for this are a weaker US dollar and Global government concerns. These problems will continue. His clients hold from 5% to 15%.
PAST TOP PICK
(A Top Pick Jan 14/10. Up 20%.) S&P/TSX Global Gold ETF. Wanted to have some underlying gold share exposure for clients. Still a gap between bullion and gold companies.