N/A

Market. The fiscal cliff is a concern for anybody, anywhere and that includes gold. Right now people get scared and sell anything and everything. In the last month or so, people have become more increasingly fearful that Mitt Romney would win and will put in many more measures to reduce the deficit and cut spending. He doesn’t think that whoever gets in power will be the guy who wants to put the country back into recession and he thinks they will again stimulate through quantitative easing, etc. More positive for gold right now. When you look at base metals, the most important thing you should look at is what is going on in China.

COMMENT

Have a property in West Africa and have been building up a fairly substantial resource. Came out with an early study on the economics and the numbers were okay but they weren’t barn burners. In this environment, people want good high IRR’s so management is working on finding some higher grade payback zones which will improve the ultimate IRR. Good management. Stock is near rock-bottom valuations. There could be a re-rating of Junior gold stocks in the next year.

COMMENT

In a district that will be mined for the next 20 years. Has great potential. One problem they have suffered through the last several years has been that they have been building out the mine and perpetually missed their guidance in the number of ounces and cash costs. New CEO seems to be doing a good job of executing and bringing the guidance in line to a reasonable level where expectations are hopefully met. Last quarter they just came out with their highest quarterly production, which is a good sign. Thinks it will have a strong Q4 but in this market you have to continually show the market that you can continually create cash flow and not have to do lots of development work.

COMMENT

Hasn’t been much news coming out of this company. As they get into the ore, you are going to get a lot more information. They are going to be able to drill from underground. They’ll also be getting some bulk samples coming out. Over the next 6 months will be a very exciting time for the company. Fully financed. Will be in production next year.

COMMENT

Just reported today. Came out with good earnings. Beat their estimates on adjusted earnings. Lower cash costs. It’s now a “go to“ name. Good management. Putting cash in the balance sheet and growing their production.

COMMENT

Just did a streaming deal with Colossus Minerals (CSI-T) for gold and platinum. Has been a great performer. All the royalty gold and streaming companies have done exceptionally well in this market because they don’t have the increased CapX. A growing company.

COMMENT

Cheap but it is a “show me” stock. Have a lot of execution over the next year and have a lot of CapX. Doing a fair amount of development work. You have to be patient. Good assets. Have a lot of stuff that they can’t even develop and move forward with because they are somewhat cash constrained. Has great potential going forward.

PAST TOP PICK

(A Top Pick Nov 1/11. Up 20.21%.) Loves this one and would be happy to put it up amongst the Top Picks.

PAST TOP PICK

(A Top Pick Nov 1/11. Up 9.56%.)

PAST TOP PICK

(A Top Pick Nov 1/11. Up 14.86%.)

TOP PICK

Just came out with a PEA on their Irish project. High-grade at 13 g per ton with 2.7 million ounces. Thinks this is getting bigger. Trades very cheaply on any metric. Likes the jurisdiction. A mine in the making.

TOP PICK

Silver assets located in Guatemala. CEO is arguably the best mine builder over the last decade. Will hopefully be in production by the end of next year to produce 20,000,000 ounces. He could easily see this company cash flowing $500 million, which means it is trading at about 6X cash flow which is incredibly cheap.

TOP PICK

Management has unlocked a huge amount of value in this asset. Trading at about 7X cash flow. Expanding production. Has great potential to become a dividend player. Could see this $10 or higher in 12 months.

BUY

Silver. Very positive on this going forward. Investment of the decade. About 67% of silver consumption is industrial, which is a positive.

N/A

Markets. There had been a really nice rally in the summertime and now you have a pull back. Traditionally, now is when things start to rally into Christmas. Who wins the US election is not as relevant because what really matters is that this issue is out of the way. Thinks the market goes slightly higher from here given that we have had a nice pullback.