Solid company that has not tracked with gold. Stock under performed because new CEO comes from energy, not mining. Solid assets. Key asset in Burkina Faso is just coming into commissioning, which will be very important from a net asset view.`
Natural gas producer that is in the penalty box. About 15,000 BOE's a day. Represents very good upside from a valuation point of view. Calling for gas at $7 which would make this a double. Possible take-out.
Fantastic play on iron ore. Just wanted to production in the 3rd quarter. Projecting about 8 million tons. Looks undervalued by about 40%. Looking to expand to 16 million tons.
Probably the most advanced stage development uranium company in Canada. Assets in Athabasca. Areva (?) Is a partner and Cameco (CCO-T) is a major shareholder. Aggressive exploration program. Won't get developed within the next 10 years. Likes it because it is at the very advanced stage.
Silver. Probably tied to gold, which has gone up too fast in too short a time. One thing silver has that gold doesn't is that it is consumed because of industrial purposes. Believes in its strength because of the industrial component. Look for companies that have not followed the commodity.
Has done well because of the general view on metallurgical coal, the outlook from a commodity point of view and its operations. Could use it as a trading stock. Currently not in it but looking for an opportunity.
One reason for lack of movement on share price above $18 is the transformation they are going through. Trying to move to longer term more predictable assets. Expecting good results in 2011. He is bullish on natural gas. He looks at it from a 5-year horizon.
Fantastic long-term asset in oil that will be produced for 40, 50, 60 years. Revised guidance down by about 9%. Distribution looks intact. Looking for strength over the next year and maybe a little weakness going into 2012 because of risks to the dividend due to expansion plans.
Emerging, intermediate South American player, primarily in Colombia. Good stock but prefers Gran Tierra (GTE-T) because of its larger base and exploration projects in Peru, Colombia and recently Brazil.
Joint partner, Rio Tinto (RIO-N) owns 38%. Massive, undeveloped copper/gold deposit in Mongolia. Some political risk and uncertainty. Expect they would like a suitor to buy them before Rio Tinto gets into control position. Expect 3-4 years before it is in service.
