Silver Recommendations

Alexco Resource Corp.

The Gold Report with Darrell Pasloski (5/26/15) "AXR continues do to reclamation as well as mining and exploration work."

Silver Wheaton Corp.

Charles Gibson, Edison Investment Research (5/26/15) "In Q1/15 SLW's production exceeded 10 Moz silver-equivalent for the first time."

Kootenay Silver Inc.

Wayne Hewgill, Mackie Research Capital (5/22/15) "KTN's La Negra showed 56m grading 124 g/t Ag and 0.175 g/t Au."

Great Panther Silver Ltd.

Ash Guglani, Salman Partners (5/20/15) "GPR entered into an option agreement to acquire the Coricancha mine."

Kootenay Silver Inc.

Philip Ker, PI Financial (5/20/15) "KTN's final assays confirm broad intercepts of silver mineralization."

MAG Silver Corp.

Trevor Turnbull, Scotia Capital (5/19/15) "MAG finished Q1/15 with more than $80M in cash."

Bear Creek Mining Corp.

The Gold Report with Ricardo Carrion (5/18/15) "We expect an updated feasibility study BCM's Corani to be released real soon; it should show a lower capex."

MAG Silver Corp.

Heiko Ihle, H.C. Wainwright & Co. (5/18/15) "MAG exited Q1/15 with sufficient cash to fund the Juanicipio development."

Primero Mining Corp.

Dan Rollins, RBC Capital Markets (5/18/15) "P is well positioned to deliver improving free cash flow over the next few years."

Alexco Resource Corp.

Mike Niehuser, Scarsdale Equities (5/15/15) "AXR is well positioned to report positive drill results through 2015E."

Primero Mining Corp.

Mike Parkin, Desjardins Securities (5/12/15) "P's San Dimas mine is performing extremely well."

Great Panther Silver Ltd.

Ash Guglani, Salman Partners (5/8/15) "In Q1/15, GPR increased production by 8% QOQ and revenue by 42% QOQ."

Silver Wheaton Corp.

Phil Russo, Raymond James (5/8/15) "SLW's Q1/15 production was strong, driven by San Dimas and Sudbury."

Ash Guglani, Salman Partners (5/8/15) "We maintain our Top Pick recommendation on SLW."

Great Panther Silver Ltd.

Heiko Ihle, H.C. Wainwright & Co. (5/8/15) "For Q1/15, GPR produced a record 987,887 oz silver equivalent."

Source Exploration Corp.

Haywood Securities (5/8/15) "SOP demonstrated the potential to link two zones at Las Minas."

Ryan Walker, Euro Pacific Canada (5/7/15) "SOP's assay results at Las Minas support the thesis of a larger combined target."

Silver Wheaton Corp.

Andrew Kaip, BMO Capital Markets (5/7/15) "We forecast SLW to grow Ag eq production by 17% during 2015."

Primero Mining Corp.

Rob Chang, Cantor Fitzgerald (5/7/15) "In Q1/15, P achieved record production overall and at San Dimas."

Dan Rollins, RBC Capital Markets (5/7/15) "P had a solid start to 2015 driven by San Dimas' strong performance."

Franco-Nevada Corp.

The Gold Report Interview with Chris Mancini (5/6/15) "FNV has some of the highest-quality streams and royalties in the world."

Tahoe Resources Inc.

The Gold Report Interview with Chris Mancini (5/6/15) "THO's two producing mines are low cost."

Silver Wheaton Corp.

The Gold Report Interview with Chris Mancini (5/6/15) "SLW has royalties on some very good projects, including Peñasquito."

MAG Silver Corp.

The Gold Report Interview with Chris Mancini (5/6/15) "MAG has one of the best undeveloped silver deposits in the world."

Primero Mining Corp.

Brian Szeto, PI Financial (5/6/15) "P announced Q1/15 financial results better than estimates."

Barry Allan, Mackie Research Capital (5/6/15) "P's stock remains a good buy on underlying value."

Joseph Fazzini, Dundee Capital Markets (5/6/15) "P's Q1/15 results were generally consistent with our expectations."

Jeff Killeen, CIBC World Markets (5/6/15) "We think P's strong growth in cash will act as a catalyst for its stock."

Argonaut Gold Inc.

Mike Parkin, Desjardins Securities (5/6/15) "AR finished Q1/15 with $64M in cash, a $12.5M increase from year-end."

Ovais Habib, Scotia Capital (5/5/15) "AR is well funded for planned development and exploration in 2015."

Ryan Hanley, Mackie Research Capital (5/5/15) "AR remains undervalued; it continues to maintain a good balance sheet and minimal debt."

Silver Wheaton Corp.

Trefis (5/4/15) "SLW has significant growth potential in the silver streaming space."

Kootenay Silver Inc.

Wayne Hewgill, Mackie Research Capital (5/4/15) "KTN's drilling extends La Negra's high-grade zone 100–150m to depth."

Alexco Resource Corp.

Mike Niehuser, Scarsdale Equities (5/3/15) "AXR's environmental business, AEG, merits a Buy recommendation alone."

Source Exploration Corp.

Haywood Securities (5/1/15) "SOP continues to deliver impressive copper-gold intersections at Las Minas."

Kootenay Silver Inc.

Philip Ker, PI Financial (4/30/15) "We are increasing our price target for KTN and maintaining our Buy rating."

Alexco Resource Corp.

Christos Doulis, PI Financial (4/30/15) "We are increasing our target price on AXR."

Source Exploration Corp.

Ryan Walker, Euro Pacific Canada (4/29/15) "SOP has announced assay results from two drill holes at Las Minas."

Tahoe Resources Inc.

Geordie Mark, Haywood Securities (4/29/15) "THO's Q1/15 financial performance was appreciably higher than our estimates."

Chris Thompson, Raymond James (4/29/15) "THO's Q1/15 financial results beat expectations on lower costs."

Matthew O'Keefe, Dundee Capital Markets (4/29/15) "THO's Escobal continues to demonstrate industry-leading cash costs."

Mandalay Resources Corp.

Mike Parkin, Desjardins Securities (4/28/15) "MND's Cerro Bayo may be benefiting from currency and oil price weakness."

Tahoe Resources Inc.

Andrew Kaip, BMO Capital Markets (4/28/15) "THO's strong Q1/15 EPS beat was driven by improved operating costs."

MAG Silver Corp.

Wayne Hewgill, Mackie Research Capital (4/27/15) "MAG announced the widest mineralized interval to date at Valdecañas."

Kevin MacKenzie, Salman Partners (4/24/15) "MAG's drilling at Juanicipio extended mineralization 100–200m."

Philip Ker, PI Financial (4/24/15) "MAG's highlight intercept boasted a wide interval of mineralization."

Canaccord Genuity's Morning Coffee (4/24/15) "MAG's hole P3-2 averaged 405 g/t Ag, 2.7 g/t Au, 3.2% Pb and 4.1% Zn."

David Sadowski, Raymond James (4/24/15) "We urge investors to bolster positions in MAG."

Heiko Ihle, H.C. Wainwright & Co. (4/24/15) "MAG announced exceptional drill results from the Juanicipio project."

Silver Wheaton Corp.

Ash Guglani, Salman Partners (4/24/15) "We maintain our Top Pick recommendation for SLW."

MAG Silver Corp.

Trevor Turnbull, Scotia Capital (4/24/15) "MAG reported very high-grade gold and silver intercepts at Juanicipio."

Tahoe Resources Inc.

Geordie Mark, Haywood Securities (4/24/15) "We have updated our forecasts of THO's Q1/14 financing results."

MAG Silver Corp.

Andrew Kaip, BMO Capital Markets (4/23/15) "Wider widths in the Valdecañas vein highlight another opportunity for MAG."

Comstock Mining Inc.

Heiko Ihle, H.C. Wainwright & Co. (4/17/15) "In Q1/15, LODE's gold grades held steady; silver grades increased."

Silver Wheaton Corp.

Trefis (4/17/15) "SLW's production is expected to total 43.5 Moz Ag eq in 2015."

Great Panther Silver Ltd.

Heiko Ihle, H.C. Wainwright & Co. (4/16/15) "GPR's overall Q1/15 production rose to a record 987,887 oz Ag eq."

Comstock Mining Inc.

Marco Rodriguez, Stonegate Capital Partners (4/16/15) "In Q1/15, LODE made steps via mine drilling that showed progress."

Argonaut Gold Inc.

Ovais Habib, Scotia Capital (4/15/15) "AR reported Q1/15 production of 43.3 Koz Au eq, ahead of our estimate."

Mike Parkin, Desjardins Securities (4/15/15) "AR's Q1/15 production represents ~31% of annual guidance."

Mandalay Resources Corp.

Benjamin Asuncion, Haywood Securities (4/14/15) "MND's production at Cerro Bayo is expected to increase later this year."

MAG Silver Corp.

Kevin MacKenzie, Salman Partners (4/13/15) "We initiate coverage on MAG with a Buy recommendation."

Mandalay Resources Corp.

Mike Parkin, Desjardins Securities (4/13/15) "We model MND beating its production guidance for 2015."

Tahoe Resources Inc.

Andrew Kaip, BMO Capital Markets (4/13/15) "THO is working toward an early 2016 start-up for Shahuindo."

Mandalay Resources Corp.

Chris Thompson, Raymond James (4/13/15) "We are maintaining our Strong Buy rating on MND."

Andrew Kaip, BMO Capital Markets (4/13/15) "MND's Q1/15 sales were in line with our forecasts."

Tahoe Resources Inc.

Matthew O'Keefe, Dundee Capital Markets (4/13/15) "We continue to recommend the new THO."

Anup Singh, Seeking Alpha (4/9/15) "The Rio Alto merger will drive impressive operating margin growth for THO."

Alexco Resource Corp.

Mike Niehuser, Scarsdale Equities (4/8/15) "AXR is selling below book value; we reiterate our Buy rating."

Tahoe Resources Inc.

Andrew Kaip, BMO Capital Markets (4/8/15) "We are removing the Speculative rating on THO's shares."

Kootenay Silver Inc.

The Gold Report with Rick Mills (4/6/15) "KTN's initial phase 2 assays position La Negra as one of the richest, near-surface, pure-silver plays in northwest Mexico in the past decade."

Wayne Hewgill, Mackie Research Capital (4/2/15) "High-grade zones in KTN's La Negra drilling include 8m of 963 g/t Ag."

Tahoe Resources Inc.

Geordie Mark, Haywood Securities (4/2/15) "We have upgraded our rating on THO."

Andrew Kaip, BMO Capital Markets (4/2/15) "THO is projected to maintain lower-quartile cash costs."

Matthew O'Keefe, Dundee Capital Markets (4/2/15) "We continue to recommend the new THO."

Silver Wheaton Corp.

The Gold Report Interview with David H. Smith (4/1/15) "SLV's Salobo gold stream could double and even triple by early in the next decade."

Alexco Resource Corp.

The Gold Report Interview with David H. Smith (4/1/15) "AXU has moved its cost structure way down."

MAG Silver Corp.

Heiko Ihle, H.C. Wainwright & Co. (4/1/15) "We continue to view MAG's Juanicipio as a world-class project."

Tahoe Resources Inc.

Chris Thompson, Raymond James (4/1/15) "We are upgrading THO to Outperform and increasing our target price."

Kootenay Silver Inc.

Philip Ker, PI Financial (3/31/15) "We remain bullish on KTN's exploration potential at La Negra."

Alexco Resource Corp.

Heiko Ihle, H.C. Wainwright & Co. (3/27/15) "AXR should release an updated mine plan for Keno Hill later in 2015."