Silver Recommendations

Silver Bull Resources Inc.

Ron Struthers, Struthers Resource Stock Report (2/21/18) "SVB came out with more strong drill results this morning."

Wheaton Precious Metals Corp.

Charles Gibson, Edison Investment Research (2/15/18) "We expect WPM to become a majority gold streamer at San Dimas."

Great Panther Silver Limited

Bhakti Pavani, Euro Pacific Canada (2/6/18) "GPR plans to drill at San Ignacio and at Guanajuato in 2018."

GFG Resources Inc.

Craig Stanley, Eight Capital (2/5/18) "GFG is developing a Rattlesnake Hills maiden resource estimate."

MAG Silver Corp.

Tara Hassan, Raymond James (2/5/18) "We are resuming coverage of MAG with an Outperform rating."

Golden Arrow Resources Corp.

Brien Lundin, Gold Newsletter (Jefferson Financial) (2/1/18) "GRG plans to spin out its 200,000 ha of exploration properties."

Great Panther Silver Limited

Brien Lundin, Gold Newsletter (Jefferson Financial) (2/1/18) "GPR increased its Guanajuato M&I resources by 91% to 13.6 Moz Ag eq."

Rye Patch Gold Corp.

George Topping, iA Securities (2/1/18) "We estimate RPM's cash at ~$7M along with $20M gross from the deal."

Philip Ker, PI Financial (2/1/18) "RPM's CA$20M equity financing alleviates any balance sheet overhang."

Great Panther Silver Limited

Jake Sekelsky, ROTH Capital Partners (1/26/18) "GPR outlined a 91% increase in the M&I resources at Guanajuato."

Wheaton Precious Metals Corp.

Charles Gibson, Edison Investment Research (1/25/18) "WPM's shares are trading on near-term financial measures that are consistently cheaper than those of its royalty/streaming peers."

Golden Arrow Resources Corp.

Thibaut Lepouttre, Caesars Report (1/19/18) "GRG received approval of the EIA for the Chinchillas project."

Wheaton Precious Metals Corp.

Cosmos Chiu, CIBC World Markets (1/15/18) "WPM's restructured agreement at Sam Dimas is accretive to NAV by 2%."

Ralph Profiti, Eight Capital (1/15/18) "We value WPM's new streaming agreement at $530M vs. the prior $440M."

Great Panther Silver Limited

Jake Sekelsky, ROTH Capital Partners (1/12/18) "GPR's 2017 production of 3.98 Moz was in line with our estimates."

Wheaton Precious Metals Corp.

Brian MacArthur, Raymond James (1/12/18) "We believe WPM's stream agreement restructuring is a positive event."

Great Panther Silver Limited

Bhakti Pavani, Euro Pacific Canada (1/12/18) "GPR reported Q4/17 production of 1.06 Moz Ag eq; we reiterate our Buy."

Rye Patch Gold Corp.

Philip Ker, PI Financial (1/10/18) "RPM's Florida Canyon mine achieved commercial production."

George Topping, iA Securities (1/9/18) "RPM's production figures should accelerate markedly in Q1/18."

Wheaton Precious Metals Corp.

Trefis (1/2/18) "Expected 2018 WPM production is 28 Moz silver and 340 Koz gold."

Great Panther Silver Limited

Bhakti Pavani, Euro Pacific Canada (12/21/17) "The M&I Ag eq ounces at GPR's Coricancha went from 21.96M to 24.2M."

Jake Sekelsky, ROTH Capital Partners (12/19/17) "GPR is now authorized to construct the tailings storage facility."

Golden Arrow Resources Corp.

Brien Lundin, Gold Newsletter (Jefferson Financial) (12/15/17) "Now is a good time to build a position in well-managed GRG."

Rye Patch Gold Corp.

Brien Lundin, Gold Newsletter (Jefferson Financial) (12/15/17) "RPM looks primed for an up-move in early 2018."

GFG Resources Inc.

Craig Stanley, Eight Capital (12/12/17) "GFG agreed to acquire 560 km sq of mineral rights west of Timmins."

Rye Patch Gold Corp.

George Topping, iA Securities (12/11/17) "RPM's Florida Canyon November production was up 20% from October's."

Michael Gray, Macquarie Capital Markets (12/11/17) "RPM's Florida Canyon November production increased 20% over October's."

Golden Arrow Resources Corp.

Steven Goldman, Seeking Alpha (12/4/17) "GRG presents a very attractive investment with a substantial upside."

Wheaton Precious Metals Corp.

Charles Gibson, Edison Investment Research (11/30/17) "WPM is trading consistently cheaper than its 'peers' and the miners."

Rye Patch Gold Corp.

George Topping, iA Securities (11/29/17) "Drill results from RPM's Florida Canyon will boost the balance sheet."

Michael Gray, Macquarie Capital Markets (11/29/17) "RPM documented thick sulphide mineralization at Florida Canyon."

Southern Silver Exploration Corp.

Thibaut Lepouttre, Caesars Report (11/22/17) "SSV will release an updated resource estimate in the coming weeks."

MAG Silver Corp.

Joe Reagor, ROTH Capital Partners (11/20/17) "MAG is nearly fully funded for its development costs at Juanicipio."

Wheaton Precious Metals Corp.

Ralph Profiti, Eight Capital (11/16/17) "We are resuming coverage on WPM with a Buy."

GFG Resources Inc.

Tyron Breytenbach, Cormark Securities (11/15/17) "The next major catalyst for GFG is a maiden resource (H1/18)."

Wheaton Precious Metals Corp.

BMO Capital Markets (11/14/17) "WPM could deliver a strong Q4/17 on increased sales."

Charles Gibson, Edison Investment Research (11/10/17) "In Q3/17, WPM showed improvements in production relative to Q2/17."

MAG Silver Corp.

Bhakti Pavani, Euro Pacific Canada (11/9/17) "The new PEA on MAG's Juanicipio project is robust."

Philip Ker, PI Financial (11/9/17) "The new PEA for MAG's Juanicipio showed an after-tax IRR of 44.5%."

Wheaton Precious Metals Corp.

Andrew Kaip, BMO Capital Markets (11/9/17) "WPM reported an in line Q3/17; adjusted EPS was $0.15."

Brian MacArthur, Raymond James (11/9/17) "WPM recorded sales of 158.4 Koz Au eq for Q3/17; EPS came in at $0.15."

MAG Silver Corp.

Chris Thompson, Raymond James (11/8/17) "We anticipate a positive construction decision on MAG's Juanicipio."

Rye Patch Gold Corp.

Philip Ker, PI Financial (11/8/17) "Gold is now being produced at higher rates at RPM's Florida Canyon."

George Topping, iA Securities (11/7/17) "RPM increased production at all levels in October at Florida Canyon."

MAG Silver Corp.

Andrew Kaip, BMO Capital Markets (11/7/17) "Shares should react positively to the new PEA for MAG's Juanicipio."

Joe Reagor, ROTH Capital Partners (11/7/17) "Overall, we view the PEA for MAG's Juanicipio project as positive."

Great Panther Silver Limited

Bhakti Pavani, Euro Pacific Canada (11/1/17) "GPR reported Q3/17 revenue of $18.3M versus our estimate of $16.4M."

Brien Lundin, Gold Newsletter (Jefferson Financial) (11/1/17) "GPR's Q3/17 revenues increased 17% on a YOY basis, coming in at $18.3M."

Jake Sekelsky, ROTH Capital Partners (10/31/17) "The key takeaway for investors is GPR's commitment to growth."

Rye Patch Gold Corp.

George Topping, iA Securities (10/30/17) "RPM's renegotiation of reclamation bonds led to a $4.9M cash refund."

Michael Gray, Macquarie Capital Markets (10/30/17) "We are encouraged by RPM's improved cash position."

Wheaton Precious Metals Corp.

Charles Gibson, Edison Investment Research (10/26/17) "WPM's management formally changed the company's dividend policy, which allowed it to declare a 10c third quarter dividend compared to our prior expectation of 6c."

Pershing Gold Corp.

Rob Chang, Cantor Fitzgerald (10/26/17) "We are maintaining a BUY recommendation and our target price of US$4.25per share for PGLC."

Seabridge Gold Inc.

Rob Chang, Cantor Fitzgerald (10/26/17) "The single most important event for SEA over the coming months will be to partner-up with a large-tier, or consortium of large-tier miners and/or off-takers."

Asanko Gold Inc.

Rahul Paul, Canaccord Genuity (10/19/17) "We are encouraged by AKG's recovery rates that exceed our forecasts (94% actual vs our estimates of 93%)."

Andrew Breichmanas, BMO Capital Markets (10/19/17) "AKG reported Q3/17 production of 49,293oz, beating our estimate of 43,500oz."

Rye Patch Gold Corp.

Michael Gray, Macquarie Capital Markets (10/15/17) "We see considerable rerating potential for RPM."

Great Panther Silver Limited

Bhakti Pavani, Euro Pacific Canada (10/13/17) "GPR reported Q3/17 production of 1.08 Moz silver equivalent."

Jake Sekelsky, ROTH Capital Partners (10/13/17) "GPR's Q3/17 silver/gold production was in line with our estimates."

Rye Patch Gold Corp.

Philip Ker, PI Financial (10/11/17) "RPM is showing momentum at Florida Canyon heading into the new year."

George Topping, iA Securities (10/11/17) "RPM is well on the way to the target of 10Mt/year ore placed on pad at the Florida Canyon project."

Wheaton Precious Metals Corp.

Charles Gibson, Edison Investment Research (9/21/17) "WPM declared a $0.10 Q3/17 dividend, compared to our expected $0.06."

GFG Resources Inc.

Craig Stanley, Eight Capital (9/20/17) "GFG's Rattlesnake Hills assays hit broad zones of mineralization."

Rye Patch Gold Corp.

Michael Gray, Macquarie Capital Markets (9/18/17) "RPM-processed ore in July and August is tracking above our estimate."

Philip Ker, PI Financial (9/18/17) "Operations at RPM's Florida Canyon are moving faster than expected."

George Topping, iA Securities (9/14/17) "RPM's Florida Canyon should build up to a low-cost, mid-tier asset."

Wheaton Precious Metals Corp.

Andrew Kaip, BMO Capital Markets (9/5/17) "We favor WPM on cash generation and liquidity."

Great Panther Silver Limited

Jake Sekelsky, ROTH Capital Partners (9/5/17) "We left the site visit impressed with GPR's flagship operation."

Rye Patch Gold Corp.

Thibaut Lepouttre, Caesars Report (9/4/17) "RPM is working hard to become Nevada's next commercial gold producer."

Wheaton Precious Metals Corp.

Charles Gibson, Edison Investment Research (8/30/17) "WPM entered into an agreement with Desert Star regarding Kutcho."

Rye Patch Gold Corp.

George Topping, iA Securities (8/28/17) "RPM has positioned itself for a successful ramp-up in H2/17."

Michael Gray, Macquarie Capital Markets (8/27/17) "We see significant rerating potential in RPM."

MAG Silver Corp.

Joe Reagor, ROTH Capital Partners (8/21/17) "We see significant production and exploration upside in MAG."

Wheaton Precious Metals Corp.

Michael Gray, Macquarie Capital Markets (8/21/17) "WPM announced that it is increasing its dividend from 20 to 30% of average operating cash flow for the previous four quarters."

Rye Patch Gold Corp.

Michael Gray, Macquarie Capital Markets (8/18/17) "RPM has secured financing for four additional used CAT 785C trucks."

MAG Silver Corp.

Bhakti Pavani, Euro Pacific Capital (8/16/17) "A revised mine plan for MAG's Juanicipio is expected in Q3/17."

Great Panther Silver Limited

Heiko Ihle, H.C. Wainwright & Co. (8/15/17) "Drilling at GPR's Coricancha extended known high-grade areas."

MAG Silver Corp.

Chris Thompson, Raymond James (8/15/17) "MAG's JV ground offers additional exploration upside."

Great Panther Silver Limited

Jake Sekelsky, ROTH Capital Partners (8/10/17) "We are initiating coverage on GPR with a Buy rating."

Wheaton Precious Metals Corp.

Andrew Kaip, BMO Capital Markets (8/10/17) "WPM reported a slight beat in Q2/17 relative to expectations."