Silver Recommendations

SilverCrest Mines Inc.

The Gold Report Interview with Joe Reagor (4/23/14) "SVL's management has played it safe."

Ben Kramer-Miller, Seeking Alpha (4/18/14) "SVL has a proven track record of execution and offers good value."

Almaden Minerals Ltd.

Ash Guglani, Salman Partners (4/17/14) "Considering its robust economics, AMM's Ixtaca is an attractive acquisition target."

Santacruz Silver Mining Ltd.

Chris Thompson, Raymond James (4/17/14) "SCZ is a top junior silver miner with near-term cash flow and significant development upside."

SilverCrest Mines Inc.

Jason Bond, Seeking Alpha (4/17/14) "We recommend due diligence on SVL; silver prices could move to new highs."

Philip Ker, PI Financial (4/15/14) "We are confident SVL can attain the higher end of guidance in 2014."

Mandalay Resources Corp.

Duncan Hughes, RFC Ambrian (4/15/14) "MND remains our preferred low-cost gold and silver producer."

Chris Thompson, Raymond James (4/15/14) "We are upgrading MND to a Strong Buy rating; we highlight the healthy dividend, which provides downside protection."

SilverCrest Mines Inc.

Benjamin Asuncion, Haywood Securities (4/15/14) "SVL produced 201 Koz silver and 7.5 Koz gold during Q1/14."

Trevali Mining Corp.

Barry Allan, Mackie Research Capital (4/15/14) "As TV continues to optimize Santander, we would expect to see increases in the cash-flow multiple and stock price."

Tahoe Resources Inc.

The Gold Report Interview with Michael Berry (4/14/14) "I think that THO's new mine down in Guatemala will be a very good producer."

Fortuna Silver Mines Inc.

Andrew Kaip, BMO Capital Markets (4/14/14) "FVI's Q1/14 silver and gold production was 13% above our forecasts."

Benjamin Asuncion, Haywood Securities (4/14/14) "FVI's Q1/14 consolidated production exceeded expectations."

Mandalay Resources Corp.

Andrew Kaip, BMO Capital Markets (4/14/14) "MND reported Q1/14 antimony production ~13% above our projections."

Trevali Mining Corp.

Adam Low, Raymond James (4/14/14) "TV announced impressive Q1/14 production results at Santander."

Fortuna Silver Mines Inc.

Trevor Turnbull, Scotia Capital (4/14/14) "FVI continues to demonstrate strong and improving operations backed by growing production."

Chris Lichtenheldt, Dundee Capital Markets (4/14/14) "FVI's Q1/14 production results were above our expectations."

Frik Els, Mining.com (4/14/14) "FVI's silver production jumped 55% and gold more than 80% YOY."

Almaden Minerals Ltd.

Jay Taylor, Gold, Energy & Tech Stocks (4/11/14) "AMM can create considerable shareholder value by developing Ixtaca."

SilverCrest Mines Inc.

Brien Lundin, Gold Newsletter (Jefferson Financial) (4/10/14) "SVL looks ripe for production and revenue growth; its a Buy."

Great Panther Silver Ltd.

Brien Lundin, Gold Newsletter (Jefferson Financial) (4/10/14) "GPR plans to increase Ag production by 10% in 2014."

SilverCrest Mines Inc.

Chris Lichtenheldt, Dundee Capital Markets (4/8/14) "SVL is well funded to increase underground development at Santa Elena."

Primero Mining Corp.

Mike Parkin, Desjardins Securities (4/7/14) "P's Black Fox mine will return to higher production later this year."

SilverCrest Mines Inc.

Philip Ker, PI Financial (4/7/14) "SVL can more rapidly develop the underground at Santa Elena."

Benjamin Asuncion, Haywood Securities (4/7/14) "Mill commissioning at SVL's Santa Elena is anticipated in Q2/14."

Jordan Roy-Byrne, The Daily Gold (4/6/14) "SVL has the assets to reach production of 8–10 Moz Ag eq by 2017."

Primero Mining Corp.

Barry Allan, Mackie Research Capital (4/4/14) "P expects 1 Ktpd of underground throughput at Black Fox by year-end."

Morning Coffee (4/4/14) "We expect P's planned investment in Black Fox to unlock further value."

Santacruz Silver Mining Ltd.

The Gold Report Interview with Oliver Gross (4/2/14) "SCZ has a tremendous portfolio of promising Mexican projects."

Almaden Minerals Ltd.

Ash Guglani, Salman Partners (4/2/14) "AMM is drilling high priority gold-silver exploration targets adjacent to the Ixtaca zone."

SilverCrest Mines Inc.

Philip Ker, PI Financial (4/1/14) "The commissioning of SVL's mill is expected in early April."

Tahoe Resources Inc.

The Gold Report Interview with Robert Cohen (3/31/14) "It's really hard to come up with a higher quality investment than THO's Escobal."

Fortuna Silver Mines Inc.

The Gold Report Interview with Robert Cohen (3/31/14) "FVI is well managed and has a high-grade discovery in Mexico that will show up in near-term production."

Primero Mining Corp.

Jeff Killeen, CIBC World Markets (3/28/14) "We are reinstating coverage on P following the shares offering."

Excellon Resources Inc.

Henry Lazenby, Mining Weekly (3/27/14) "The M&I resources at EXN's La Platosa total 20 Moz Ag eq."

Argonaut Gold Inc.

Mike Parkin, Desjardins Securities (3/27/14) "AR deserves a premium valuation."

Santacruz Silver Mining Ltd.

Jordan Roy-Byrne, The Daily Gold (3/27/14) "SCZ is a growth-oriented producer to watch."

Mandalay Resources Corp.

Duncan Hughes, RFC Ambrian (3/26/14) "MND has commenced a feasibility study for Challacollo."

Argonaut Gold Inc.

Jeff Killeen, CIBC World Markets (3/26/14) "In Q4/13, AR generated operating cash flow of $9.3M."

Barry Allan, Mackie Research Capital (3/26/14) "Over the course of H1/14, we expect to see drilling results from AR's San Agustin."

Andrew Kaip, BMO Capital Markets (3/25/14) "AR continues to demonstrate tight cost controls."

SilverCrest Mines Inc.

Stuart McDougall, Jennings Capital (3/25/14) "SVL has ample funds for underground development and mill construction."

Benjamin Asuncion, Haywood Securities (3/25/14) "SVL delivered Q4/13 operating cash flow of $4M on revenues of $12.9M."

Chris Lichtenheldt, Dundee Capital Markets (3/25/14) "SVL's mill start-up is expected early in Q2/14."

Joe Reagor, ROTH Capital Partners (3/25/14) "SVL's value proposition has returned with its share price decline."

Santacruz Silver Mining Ltd.

The Gold Report Interview with Brien Lundin (3/24/14) "SCZ is a silver growth story."

Almaden Minerals Ltd.

The Gold Report Interview with Brien Lundin (3/24/14) "AMM delivers value for investors."

SilverCrest Mines Inc.

Chris Thompson, Raymond James (3/24/14) "SVL's revised mine plan at Santa Elena allows for delivery of more higher-grade underground ore early in the mine life."

Tahoe Resources Inc.

David Forster, Merrill Lynch (3/21/14) "We are initiating coverage on THO; we like its low costs and experienced management."

Primero Mining Corp.

Adam Melnyk, Desjardins Securities (3/20/14) "P's addition of a producing asset should help to rerate the shares."

MAG Silver Corp.

The Gold Report Interview with Michael Gray (3/19/14) "MAG's Juanicipio project in Mexico is one of the best, highest-grade silver development projects out there."

Philip Ker, PI Financial (3/19/14) "MAG has significant potential to make additional discoveries on the Juanicipio JV land package."

SilverCrest Mines Inc.

Philip Ker, PI Financial (3/19/14) "We expect positive operating results from SVL going forward."

Fortuna Silver Mines Inc.

Benjamin Asuncion, Haywood Securities (3/19/14) "We are upgrading our rating on FVI to Buy."

Santacruz Silver Mining Ltd.

Chris Thompson, Raymond James (3/18/14) "SCZ has significant development upside and exceptional properties."

SilverCrest Mines Inc.

Chris Lichtenheldt, Dundee Capital Markets (3/18/14) "SVL will be increasingly focused on ramping up production from the underground to feed the mill with higher-grade ore."

Fortuna Silver Mines Inc.

Chris Lichtenheldt, Dundee Capital Markets (3/18/14) "FVI remains one of our top silver picks for 2014."

Andrew Kaip, BMO Capital Markets (3/18/14) "FVI's unit costs are expected to trend lower over 2014E."

Chris Thompson, Raymond James (3/18/14) "FVI's share price weakness is an opportunity to add to positions."

SmallCap Power (3/18/14) "FVI's drill results continue to confirm the extension of the Trinidad North zone."

Tahoe Resources Inc.

The Gold Report Interview with Rick Rule (3/17/14) "THO has one of the finest silver deposits in the world."

Fortuna Silver Mines Inc.

The Gold Report Interview with Rick Rule (3/17/14) "FVI continues to impress with its ability to operate midsize silver mines."

Tahoe Resources Inc.

Morning Coffee (3/17/14) "THO reiterated 2014 silver production guidance of 18–21 Moz."

SilverCrest Mines Inc.

Shane Nagle, National Bank Financial (3/17/14) "The transition of SVL's Santa Elena to a milling operation is nearing completion; we are initiating coverage with an Outperform rating."

Argonaut Gold Inc.

Jordan Roy-Byrne, The Daily Gold (3/16/14) "We see AR as having excellent long-term potential."

Mandalay Resources Corp.

Andrew Kaip, BMO Capital Markets (3/14/14) "MND plans to begin mining in the Cuffley zone area by year-end 2014."

SilverCrest Mines Inc.

Chris Thompson, Raymond James (3/14/14) "We are upgrading SVL to Outperform; the company is well funded and well positioned to continue to add value at Santa Elena."

Tahoe Resources Inc.

Chris Lichtenheldt, Dundee Capital Markets (3/14/14) "THO's Q4/13 byproduct metal production was 35% better than forecasted."

Andrew Kaip, BMO Capital Markets (3/13/14) "THO's management signaled the potential for the inauguration of a dividend in 2014."

Great Panther Silver Ltd.

Ash Guglani, Salman Partners (3/11/14) "GPR's cost cutting and grade control efforts improved Q4/13 margins."

SilverCrest Mines Inc.

The Gold Report Interview with Eric Coffin (3/10/14) "With 30% revenue increases at SVL, what is not to like?"

Fortuna Silver Mines Inc.

Andrew Kaip, BMO Capital Markets (3/10/14) "FVI intersected 2,800 g/t silver and 14.5 g/t gold at Trinidad North."

Benjamin Asuncion, Haywood Securities (3/10/14) "FVI continues to return significant grades over potentially mineable widths at Trinidad North."

Primero Mining Corp.

Rob Chang, Cantor Fitzgerald (3/6/14) "Reserve, resource and grade increases at P's San Dimas are positive."

Barry Allan, Mackie Research Capital (3/6/14) "In 2013, P increased San Dimas reserves by 32% and resources by 28%."

Mandalay Resources Corp.

The Gold Report Interview with Ron Struthers (3/5/14) "MND is very profitable, reporting net income of $29M for 2013."

SilverCrest Mines Inc.

The Gold Report Interview with Ron Struthers (3/5/14) "SVL has been a great growth story."

Primero Mining Corp.

Joseph Fazzini, Dundee Capital Markets (3/5/14) "P demonstrated a significant increase in San Dimas' reserves."

Mike Parkin, Desjardins Securities (3/5/14) "The acquisition of Brigus should help rerate P's shares."

Tahoe Resources Inc.

Scott Wright, Seeking Alpha (2/28/14) "THO's stock should deliver outsized returns to investors."