Latest Expert Opinions

Signal
Opinion
Expert
COMMENT
COMMENT
August 5, 2014

It was very nice to see the acquisition of Sulliden (SUE-T), because so many times you see gold companies making mergers just for the sake of getting bigger, rather than actually creating some real synergies. This has created a company that now has 2 key assets. They are within close vicinity and will have some benefits. Expects there will be increases in the multiple people are willing to pay.

Rio Alto Mining (RIO-T)
August 5, 2014

It was very nice to see the acquisition of Sulliden (SUE-T), because so many times you see gold companies making mergers just for the sake of getting bigger, rather than actually creating some real synergies. This has created a company that now has 2 key assets. They are within close vicinity and will have some benefits. Expects there will be increases in the multiple people are willing to pay.

Charles Oliver, HBSc CFA
Senior Portfolio Manager, Sprott Asset Management Inc.
Price
$2.490
Owned
Yes
COMMENT
COMMENT
August 5, 2014

Great management team. One issue he has always had is that it is very low grade, at 0.3 grams per ton. Last year they had some issues with some transition ore they were going through. When they were mining this, their recoveries were not as high as they had hoped. He would really like to see them with some higher grade projects.

Great management team. One issue he has always had is that it is very low grade, at 0.3 grams per ton. Last year they had some issues with some transition ore they were going through. When they were mining this, their recoveries were not as high as they had hoped. He would really like to see them with some higher grade projects.

Charles Oliver, HBSc CFA
Senior Portfolio Manager, Sprott Asset Management Inc.
Price
$0.435
Owned
No
BUY WEAKNESS
BUY WEAKNESS
August 5, 2014

Have one of the best management teams in the business. They are good builders of mines, good explorers, good developers and good operators. Within a gold fund, this is one of the core names you want to own. He likes to buy a company like this when they actually have some sort of miss, some sort of negative happening which impacts the stock.

B2Gold Corp. (BTO-T)
August 5, 2014

Have one of the best management teams in the business. They are good builders of mines, good explorers, good developers and good operators. Within a gold fund, this is one of the core names you want to own. He likes to buy a company like this when they actually have some sort of miss, some sort of negative happening which impacts the stock.

Charles Oliver, HBSc CFA
Senior Portfolio Manager, Sprott Asset Management Inc.
Price
$2.870
Owned
Yes
PARTIAL BUY
PARTIAL BUY
August 5, 2014

One of his Top 10 holdings now. Thinks they are doing the right things. Tried to expand too fast and were cutting some corners. Brought in new management which seems to be doing the right things. Now getting into a bit of a sweet spot, their Siou mine which they are operating. On a long term basis, this mine is going to continue to operate well. Have a large land package, which ultimately they can continue to look forward to. If you want to own, Buy a little bit now and, if there is a pullback, add to it.

Semafo Inc (SMF-T)
August 5, 2014

One of his Top 10 holdings now. Thinks they are doing the right things. Tried to expand too fast and were cutting some corners. Brought in new management which seems to be doing the right things. Now getting into a bit of a sweet spot, their Siou mine which they are operating. On a long term basis, this mine is going to continue to operate well. Have a large land package, which ultimately they can continue to look forward to. If you want to own, Buy a little bit now and, if there is a pullback, add to it.

Charles Oliver, HBSc CFA
Senior Portfolio Manager, Sprott Asset Management Inc.
Price
$4.630
Owned
Yes
COMMENT
COMMENT
August 5, 2014

Went through a bit of a teething period, as many of these mines do. Cash costs were quite high. Have been able to bring them down in the last several quarters, and just came out with some good numbers. One of the concerns is that they are mining above grade at just over 5 grams per ton. If you see that grade come down, you’ll see a slight bump in the overall costs. Has had a nice run. Not the cheapest stock out there, but seem to be making a turn around right now in terms of getting things under control.

Lake Shore Gold (LSG-T)
August 5, 2014

Went through a bit of a teething period, as many of these mines do. Cash costs were quite high. Have been able to bring them down in the last several quarters, and just came out with some good numbers. One of the concerns is that they are mining above grade at just over 5 grams per ton. If you see that grade come down, you’ll see a slight bump in the overall costs. Has had a nice run. Not the cheapest stock out there, but seem to be making a turn around right now in terms of getting things under control.

Charles Oliver, HBSc CFA
Senior Portfolio Manager, Sprott Asset Management Inc.
Price
$1.230
Owned
Unknown
COMMENT
COMMENT
August 5, 2014

One of the best management teams out there. Instituted a 2.5% dividend. Very good at Buying cheap. Good miners and operators. However, he would love to see a mining company that has a marquee asset. Right now this has 3 decent projects, but doesn’t have that marquee that he is looking for. $1.35 would be quite reasonable.

One of the best management teams out there. Instituted a 2.5% dividend. Very good at Buying cheap. Good miners and operators. However, he would love to see a mining company that has a marquee asset. Right now this has 3 decent projects, but doesn’t have that marquee that he is looking for. $1.35 would be quite reasonable.

Charles Oliver, HBSc CFA
Senior Portfolio Manager, Sprott Asset Management Inc.
Price
$1.220
Owned
Yes
PAST TOP PICK
PAST TOP PICK
August 5, 2014

(A Top Pick Sept 17/13. Down 37.05%.) Was almost thinking of adding it as a Top Pick again, but the timing wasn’t quite right. They are going in through a pocket of lower material now, so earnings and cash flow are not as high. Still have a lot of cash. Thinks they will continue to move forward and get their grades and production back up, but the market just doesn’t care.

Alamos Gold Inc (AGI-T)
August 5, 2014

(A Top Pick Sept 17/13. Down 37.05%.) Was almost thinking of adding it as a Top Pick again, but the timing wasn’t quite right. They are going in through a pocket of lower material now, so earnings and cash flow are not as high. Still have a lot of cash. Thinks they will continue to move forward and get their grades and production back up, but the market just doesn’t care.

Charles Oliver, HBSc CFA
Senior Portfolio Manager, Sprott Asset Management Inc.
Price
$10.230
Owned
Yes