Gold Recommendations

Integra Gold Corp.

Stuart McDougall, M Partners (11/29/16) "ICG's drill results further support our expectations for growth in the scheduled resource update."

Golden Arrow Resources Corp.

Gecko Research (11/28/16) "We love the GRG story and we are just a few months away from finding out what the deal on Chinchillas will look like."

Integra Gold Corp.

George Topping, Industrial Alliance Securities (11/28/16) "We are initiating coverage on ICG; its project location, size and infrastructure make it an attractive asset in a consolidating industry."

Alkane Resources Ltd.

Tom Hayes, Edison Investment Research (11/24/16) "ALK has maintained its current FY17 production guidance of 65-72koz Au at an AISC of production of A$1,200/oz to A$1,300/oz."

Asanko Gold Inc.

Chris Thompson, Raymond James (11/24/16) "AKG's Asanko mine's near-term production potential and Phase 2A expansion plan rank as the paramount near-term value drivers."

Nana Sangmuah, Clarus Securities (11/24/16) "We believe AKG would be a coveted asset in any of the major's asset portfolios."

Victoria Gold Corp.

Ryan Walker, Echelon Growth Partners (11/22/16) "VIT's Top Pick H2/16 status reflects the Eagle project's strategic size, fully permitted status, district scale land package with substantial exploration potential, and situation in geopolitically stable Canada."

Balmoral Resources Ltd.

Barry Allan, Mackie Research Capital (11/22/16) "BAR's drilling continues to show the Bug Lake discovery has potential."

Philip Ker, PI Financial (11/22/16) "We are impressed with the project developments across Martiniere and highlight that BAR continues to discover additional gold occurrences across its property."

Integra Gold Corp.

Joe Reagor, ROTH Capital Partners (11/21/16) "ICG's Triangle resource update confirms exploration upside potential."

Asanko Gold Inc.

Jeff Killeen, CIBC World Markets (11/21/16) "AKG has done a good job reaching commercial production and LOM reserve grades within the first year of initiating Phase 1."

Columbus Gold Corp.

Thibaut Lepouttre, Caesars Report (11/18/16) "CGT has received the necessary permits to drill Target 5 at Eastside."

Golden Arrow Resources Corp.

The Gold Report Article by Matt Geiger (11/17/16) "I think GRG shareholders will be rewarded with a generous offer in short order."

Trevali Mining Corp.

Stefan Ioannou, Haywood Securities (11/17/16) "TV's Caribou is well on its way to establishing itself as a profitable mine through Q4/16."

Klondex Mines Ltd.

Stuart McDougall, M Partners (11/17/16) "KDX released what we view as positive underground delineation drill results from the True North mine."

Integra Gold Corp.

Thibaut Lepouttre, Caesars Report (11/17/16) "ICG's Preliminary Economic Assessment in January 2017 will be the basis for which the new mine plan will include three times as much gold."

Lauren McConnell, Paradigm Capital (11/17/16) "ICG's Lamaque project continues to be our favourite development story."

Gwen Preston, Resource Maven (11/16/16) "ICG announced a new resource estimate for Lamaque."

TerraX Minerals Inc.

Gwen Preston, Resource Maven (11/16/16) "The consistency of gold in TXR's Mispickel holes is promising."

Adamera Minerals Corp.

Gwen Preston, Resource Maven (11/16/16) "ADZ has all the best ground in northeast Washington State."

Integra Gold Corp.

Phil Russo, Raymond James (11/16/16) "We view ICG's update promisingly as the company adds potential mine life ahead of its updated PEA."

Kerry Smith, Haywood Securities (11/16/16) "ICG's Triangle deposit remains the bulk of the overall resource."

Trevali Mining Corp.

Ian Parkinson, GMP Securities (11/15/16) "TV released Q3/16 financial results; the financial performance was impressive—costs were better than expected."

Azure Minerals Ltd.

Simon Tonkin, Patersons Securities (11/15/16) "AZS has released further significant gold results from its Loma Bonita prospect."

Balmoral Resources Ltd.

Thibaut Lepouttre, Caesars Report (11/15/16) "Four holes at BAR's Upper Bug zone have increased the size of the mineralized envelope."

Integra Gold Corp.

Michael Gray, Macquarie Equity Research (11/15/16) "ICG is a Top Pick among the explorers/developers we cover."

Guyana Goldfields Inc.

Jamie Spratt, Clarus Securities (11/14/16) "GUY provides a rare combination of a high margin, long-life asset, gold price optionality and M&A potential."

Stuart McDougall, M Partners (11/11/16) "GUY's all-in sustaining costs averaged $796/oz, up 9% from $729/oz in the prior quarter."

Pershing Gold Corp.

BMO Capital Markets (11/11/16) "PGLC is a relatively lesser-known (and definitely under-owned) story in Canada."

Guyana Goldfields Inc.

Phil Russo, Raymond James (11/11/16) "GUY continues to expect to expand capacity at the Aurora Mine in 2017 to 8,000 tpd from 5,000 tpd."

TerraX Minerals Inc.

Ryan Walker, Echelon Wealth Partners (11/11/16) "TXR's drilling has extended Mispickel to the North, cutting a new high-grade lode."

Guyana Goldfields Inc.

Andrew Breichmanas, BMO Capital Markets (11/11/16) "GUY could seek out opportunistic investment opportunities in Guyana and elsewhere."

Silver Wheaton Corp.

Michael Gray, Macquarie Capital Markets (11/10/16) "SLW trades in-line with peers while offering high quality streams with the majority of assets operating in the bottom half of their respective cost curves."

Pershing Gold Corp.

Heiko Ihle, Rodman & Renshaw (11/10/16) "There is a good chance PGLC will announce a positive production decision by the end of 2016."

Bhakti Pavani, Euro Pacific Capital (11/10/16) "Three of the eleven drill holes at PGLC's Relief Canyon, including RC16-470, EC 16-475, and RC 16-478, have high-grade intercepts."

Klondex Mines Ltd.

Philip Ker, PI Financial (11/10/16) "KDX continues to encounter exceptional high-grade assays from primary vein structures within close proximity to existing mine infrastructure."

Stuart McDougall, M Partners (11/10/16) "KDX announced a new discovery with positive indications of Fire Creek's blue-sky potential."

Philip Ker, PI Financial (11/10/16) "KLDX continues to encounter exceptional high-grade assays from primary vein structures within close proximity to existing mine infrastructure."

Asanko Gold Inc.

SmallCapPower (11/10/16) "AKG is a top takeover target after impressive Q3/16 results."

Klondex Mines Ltd.

Brian Quast, BMO Capital Markets (11/10/16) "KDX's underground drilling at the Fire Creek mine to test the extensions of the known veins returned high-grade intercepts."

Integra Gold Corp.

Gwen Preston, Resource Maven (11/9/16) "ICG's drill results keep demonstrating good continuity and, if anything, are improving with more drilling."

Kerry Smith, Haywood Securities (11/9/16) "Assay results include the widest intercept ever reported on ICG's Triangle structure returning 13.59 g/t Au over 10.8 metres."

Columbus Gold Corp.

Thibaut Lepouttre, Caesars Report (11/9/16) "CGT acquires the Bolo royalty in exchange for the Weepah project."

Victoria Gold Corp.

Thibaut Lepouttre, Caesars Report (11/9/16) "VIT's feasibility study looks very robust."

Integra Gold Corp.

Phil Russo, Raymond James (11/9/16) "ICG's Lamaque C4 and C5 continue to return positive results outside the limit of the current resource estimate."

Klondex Mines Ltd.

Jeff Killeen, CIBC World Markets (11/8/16) "KLDX has set up to post a strong Q4 that will reflect increased production and lower costs."

Asanko Gold Inc.

Nana Sangmuah, Clarus Securities (11/8/16) "AKG's phase 1 ramp up has been progressing better than expected, setting the stage for strong production growth through phase 2A."

Pretium Resources Inc.

Heiko Ihle, Rodman & Renshaw (11/7/16) "PVG's Brucejack project is one of the world's premier, large-scale, high-grade, undeveloped gold projects that still maintains significant expansion potential."

Klondex Mines Ltd.

Heiko Ihle, Rodman & Renshaw (11/7/16) "KLDX is an underground gold mining powerhouse in the making."

Asanko Gold Inc.

Chris Thompson, Raymond James (11/7/16) "AKG’s operating results for the quarter were ahead of previous expectations."

Tahoe Resources Inc.

Cosmos Chiu, CIBC World Markets (11/7/16) "TAHO continues to track towards the high end of 2016 silver production guidance."

Michael Gray, Macquarie Equity Research (11/7/16) "We expect THO's strong performance at La Arena continuing into Q4/16."

Klondex Mines Ltd.

Stuart McDougall, M Partners (11/7/16) "We are maintaining our Buy recommendation for KDX, as EPS is expected to rise to $0.58 in 2017 from $0.22 in 2016."

Asanko Gold Inc.

Geordie Mark, Haywood Securities (11/7/16) "AKG reported Q3/16 revenues of $72M, driving EBITDA of $37M and operating cash flow of $36M, or $0.18/share."

Great Panther Silver Ltd.

Bhakti Pavani, Euro Pacific Canada (11/4/16) "Given the operating performance of GPR for the first nine months, we believe the Company might beat its own revised cash cost guidance of $4.00-$6.00."

Heiko Ihle, Rodman & Renshaw (11/4/16) "We feel strongly positions GPR to meet management's guidance of 4.0-4.2 million silver equivalent ounces as well as beat our estimate."

Asanko Gold Inc.

Jeff Killeen, CIBC World Markets (11/4/16) "AKG announced that the board has approved the Phase 2A expansion, which will upsize mill throughput from 3.6 Mtpa to 5 Mtpa."

Pretium Resources Inc.

Eric Zaunscherb, Canaccord Genuity (11/4/16) "PVG's Brucejack’s projected scale, profitability and strong exploration upside will ultimately attract a premium valuation."

Asanko Gold Inc.

Jamie Spratt, Clarus Securities (11/4/16) "AKG trades at a significant discount to peers and, in our opinion, the market has not yet priced in the value for Phase 2."

Southern Silver Exploration Corp.

Martin Wood, Vicarage Capital Ltd. (11/4/16) "SSV has an experienced board of directors and strong management team with a good track record in project exploration, discovery and development."

Red Eagle Mining Corp.

James Smith, Vicarage Capital Ltd. (11/4/16) "RD's San Ramon mine will be the largest gold mine in Colombia, and the first gold mine operating under modern environmental permitting legislation."

Tahoe Resources Inc.

Michael Gray, Macquarie Capital Markets (11/4/16) "TAHO's Q3/16 financials were better than Macquarie estimates; we rate it Outperform."

Klondex Mines Ltd.

Jamie Spratt, Clarus Securities (11/4/16) "KDX remains well positioned to deliver a compelling production growth profile that would approximately double company wide production by 2018."

Barry Allan, Mackie Research Capital (11/4/16) "KDX continues to achieve good operating results while digesting two new mines; we see it as a leader in high-grade mining."

Tahoe Resources Inc.

Chris Thompson, Raymond James (11/4/16) "TAHO's Escobal delivered an in-line quarter on production and costs, as did La Arena."

Klondex Mines Ltd.

Philip Ker, PI Financial (11/4/16) "With the addition of the True North Mine, we expect KDX to add ~50,000 oz of annual gold production to its profile in 2017."

Tahoe Resources Inc.

Andrew Kaip, BMO Capital Markets (11/3/16) "We expect a strong finish to 2016 to contribute to TAHO reaching its guidance targets for gold."

Integra Gold Corp.

Thibaut Lepouttre, Caesars Report (11/2/16) "We still think ICG is one of the most attractive buyout targets in the Northern hemisphere."

Rye Patch Gold Corp.

Brien Lundin, Gold Newsletter (Jefferson Financial) (11/1/16) "RPM is moving quickly to get Florida Canyon in Nevada restarted."

Avrupa Minerals Ltd.

Brien Lundin, Gold Newsletter (Jefferson Financial) (11/1/16) "I have a feeling AVU's upcoming prefeasibility study and updated resource estimate could surprise to the upside."

Gold Standard Ventures Corp.

Brien Lundin, Gold Newsletter (Jefferson Financial) (11/1/16) "Investors appreciate the likelihood of GSV being taken out by one of the majors."

Balmoral Resources Ltd.

Brien Lundin, Gold Investment Letter (11/1/16) "Recent strong assays from BAR's Bug Lake South at Martiniere suggest the known deposit on this property is far from closed off."

Great Panther Silver Ltd.

Brien Lundin, Gold Investment Letter (11/1/16) "GPR remains on track to meet its 2016 production guidance."

Klondex Mines Ltd.

Brien Lundin, Gold Newsletter (Jefferson Financial) (11/1/16) "KDX inherits treasure trove of data with purchase of Hollister Mine"

Gold Standard Ventures Corp.

Brian Szeto, PI Financial (10/31/16) "Goldcorp will own 22.9 million shares of GSV which represents 10% of the Company."

Silver Wheaton Corp.

Charles Gibson, Edison Investment Research (10/31/16) "SLW's shares are trading on near-term financial ratios that are cheaper than those of its peers in at least 75% of instances, despite being associated with materially less operational and cost risk."

Gold Standard Ventures Corp.

Gwen Preston, Resource Maven (10/29/16) "With this raise GSV has almost $60 million in the bank."

Silver Wheaton Corp.

Charles Gibson, Edison Investment Research (10/27/16) "SLW Q216 earnings were close to Edison’s forecast, but were still almost 50% better than the previous quarter."

Victoria Gold Corp.

Tom Hayes, Edison Investment Research (10/27/16) "VIT's Eagle economics have been positively affected by a devalued Canadian dollar against the Greenback."

Seabridge Gold Inc.

Don Maclean, Paradigm Capital (10/26/16) "SEA provides investors with ownership in one of the most strategically compelling and prolific copper‐gold projects in the world."