Silver Recommendations

Golden Arrow Resources Corp.

The Gold Report Article by Matt Geiger (8/23/16) "GRG's Chinchillas is a massive project, particularly when you consider that at least 50% of the land package has yet to be explored."

Klondex Mines Ltd.

Jamie Spratt, Clarus Securities (8/23/16) "KDX is on a solid path to ~280 koz in annual production by 2018 while leveraging management's experience and knowledge of the Hollister asset."

Silver Wheaton Corp.

Frank Holmes, U.S. Global Investors (8/22/16) "Among our favorite names in the royalty and streaming space is SLW, which has outperformed underlying gold for the 12-month period."

Rye Patch Gold Corp.

Ron Stewart, Dundee Capital Markets (8/17/16) "RPM is among the most levered to gold prices, which should result in outperformance in a rising gold price environment.”

MAG Silver Corp.

Michael Gray, Macquarie Capital Markets (8/16/16) "We believe MAG's Juanicipio JV is the world's best undeveloped precious metals project that a junior has exposure to."

Heiko Ihle, Rodman & Renshaw (8/16/16) "While most people regard MAG's Juanicipio as a high-grade project, we highlight the even higher-grade nature of the Deep Zone at the site."

Southern Silver Exploration Corp.

Christopher Ecclestone, Hallgarten & Co. (8/15/16) "If the resource keeps evolving, then SSV’s Cerro las Minitas project will become a 'must-have' for a major or midtier miner."

Asanko Gold Inc.

Chris Thompson, Raymond James (8/15/16) "AKG as a fully funded organic growth company."

MAG Silver Corp.

Chris Thompson, Raymond James (8/15/16) "Today's drill results continue to support resource growth potential, and MAG's rank as our Top Pick among silver developers."

Silver Wheaton Corp.

Kevin MacKenzie, PI Financial (8/15/16) “We expect SLW, as the only pure precious metal streaming/royalty company, to continue to outperform its peers.”

MAG Silver Corp.

Eric Zaunscherb, Canaccord Genuity (8/12/16) "MAG's Juanicipio discovery may change the way the entire Fresnillo district is viewed."

Silver Wheaton Corp.

Josh Wolfson, Dundee Capital Markets (8/11/16) "SLW's Q2/15 silver equivalent production was 8% above our estimate."

Cosmos Chiu, CIBC World Markets (8/11/16) SLW reported a solid quarter for Q2/16, in line with CIBC expectations."

Tahoe Resources Inc.

Chris Thompson, Raymond James (8/10/16) "Q2/16 represented as key quarter for THO, as it continued to deliver strong operating results."

Cosmos Chiu, CIBC World Markets (8/10/16) "CIBC's price target for TAHO increases after the company beat our estimates with solid Q2/16 results."

Andrew Kaip, BMO Capital Markets (8/10/16) "Strong silver production was driven by higher-than-expected silver grades at Escobal and THO expects to achieve the top end of silver guidance."

Ron Stewart, Dundee Capital Markets (8/10/16) "We view THO as a top-tier intermediate precious metals company given its high-quality and low-cost operations."

Silver Wheaton Corp.

Andrew Kaip, BMO Capital Markets (8/10/16) "SLW had higher-than-expected silver sales at Antamina and Penasquito in Q2/16."

Pershing Gold Corp.

Heiko Ihle, Rodman & Renshaw (8/8/16) "We are reiterating our Buy rating for PGLC and continue to estimate first production in late 2017.”

Great Panther Silver Ltd.

Bhakti Pavani, Euro Pacific Capital (8/5/16) "GPR has a very strong balance sheet with pro forma cash of ~CA$66M and no debt."

Heiko Ihle, Rodman & Renshaw (8/5/16) "GPR is well positioned to continue to produce at a steady state while improving costs and evaluating external opportunities for a potentially transformative acquisition."

Silver Wheaton Corp.

Phil Russo, Raymond James (8/3/16) "We are reiterating our Outperform rating and increasing our target price for SLW, the top free cash-flow yielding royalty/streamer in our coverage universe.”

Cosmos Chiu, CIBC World Markets (8/2/16) "SLW's security for the entire 75% gold stream has been improved, with gold deliveries now guaranteed by Vale and the direct holder of Salobo."

Josh Wolfson, Dundee Capital Markets (8/2/16) "SLW has agreed to acquire an additional 25% of LOM gold production from Vale's Salobo mine in Brazil."

Andrew Kaip, BMO Capital Markets (8/2/16) "SLW announced the acquisition of an additional 25% gold stream from the Salobo Mine in Brazil."

Great Panther Silver Ltd.

Brien Lundin, Gold Newsletter (Jefferson Financial) (8/1/16) "GPR should continue to benefit from rising precious metals prices."

Southern Silver Exploration Corp.

"What Experts Predict for the New Silver Bull Market" Gold Report Article (7/27/16) "SSV will be a big winner."

Great Panther Silver Ltd.

"What Experts Predict for the New Silver Bull Market" Gold Report Article (7/27/16) "GPR is focused on maintaining low operating costs across its existing asset base."

Silver Wheaton Corp.

"What Experts Predict for the New Silver Bull Market" Gold Report Article (7/27/16) "Credit Suisse upgraded SLW to Outperform."

MAG Silver Corp.

"What Experts Predict for the New Silver Bull Market" Gold Report Article (7/27/16) "We view MAG's Juanicipio project as, without doubt, the best undeveloped silver asset globally."

Golden Arrow Resources Corp.

"What Experts Predict for the New Silver Bull Market" Gold Report Article (7/27/16) "GRG's Chinchillas may contain half a billion silver-equivalent ounces."

Great Panther Silver Ltd.

Heiko Ihle, Rodman & Renshaw (7/26/16) "The Guanajuato Mine Complex is a cornerstone asset that should serve as a foundation to fuel future growth initiatives for GPR."

Silver Wheaton Corp.

Alpha Investor, Seeking Alpha (7/23/16) "SLW is well-prepared to deliver strong revenue and earnings growth."

Southern Silver Exploration Corp.

The Gold Report Article by Thibaut Lepouttre (7/22/16) "With the potential to discover in excess of 200 Moz Ag eq, SSV's Cerro Las Minitas has undoubtedly popped up on a lot of radar screens."

Golden Arrow Resources Corp.

The Gold Report Article by Thibaut Lepouttre (7/22/16) "Silver Standard might want to simplify the ownership structure by acquiring 100% of GRG's Chinchillas deposit."

Great Panther Silver Ltd.

Heiko Ihle, Rodman & Renshaw (7/18/16) "We are maintaining a Buy rating for GPL while increasing our price target."

Victoria Gold Corp.

Ryan Walker, Echelon Wealth Partners (7/18/16) "We are initiating coverage on VIT, which represents a real takeover candidate with with its permitted and shovel ready Eagle project."

Azure Minerals Ltd.

Warwick Grigor, Far East Capital (7/16/16) "AZS looks like a company with plenty of merit."

MAG Silver Corp.

Chris Thompson, Raymond James (7/11/16) "MVG is a clear standout; its Juanicipio project is, without doubt, the best undeveloped silver asset globally."

Tahoe Resources Inc.

Geordie Mark, Haywood Securities (7/11/16) "We have a Buy rating for TAHO, a growing, diversified precious metals producer."

Trevali Mining Corp.

Joseph Gallucci, Dundee Capital Markets (7/11/16) "We are once again very impressed where TV seems to set new production records every quarter."

Silver Wheaton Corp.

Charles Gibson, Edison Investment Research (7/4/16) "SLW is trading on near-term financial ratios that are cheaper than those of its royalty/streaming peers."

Continental Gold Inc.

Ron Stewart, Dundee Capital Markets (6/28/16) "We're raising our target price for CNL, as Buritica is a top tier project and opportunity exists for an immediate re-rating."

Jamie Spratt, Clarus Securities (6/28/16) "The mining scenario at CNL's Buritica continues to improve; we maintain our Speculative Buy rating."

Southern Silver Exploration Corp.

Thibaut Lepouttre, Caesars Report (6/18/16) "SSV reported one of the best drill results ever encountered at Cerro Las Minitas."

Silver Wheaton Corp.

Tony Lesiak, Canaccord Genuity (6/17/16) "An expansion to 48 Mtpa at Salobo mine using only existing reserves/resources would trigger the maximum payout and would generate a 7.5% IRR to SLW."

MAG Silver Corp.

Eric Zaunscherb, Canaccord Genuity (6/16/16) "We initiate coverage of MAG; in the case of Juanicipio, Mother Nature has furnished a world-class geological score."

Great Panther Silver Ltd.

Brien Lundin, Gold Newsletter (Jefferson Financial) (6/15/16) "The precious metals markets may provide GPR with a further lift in the back half of the year."

Southern Silver Exploration Corp.

Vicarage Capital Limited (6/14/16) "SSV has an experienced board of directors and strong management team with a good track record."

Mining Stock Journal (6/9/16)

Klondex Mines Ltd.

SmallCap Power (6/8/16) "Target gold juniors that have low debt levels as well as high return on asset figures, such as KDX."

Tahoe Resources Inc.

Luke Burgess, Energy and Capital (5/29/16) "I like TAHO as leverage on rising silver prices."

Silver Wheaton Corp.

Luke Burgess, Energy and Capital (5/29/16) "I expect to see SLW's shares pop in short order."

Charles Gibson, Edison Investment Research (5/25/16) "SLW is trading on near-term financial ratios that are cheaper than its peers, despite being associated with less risk."

Andrew Kaip, BMO Capital Markets (5/24/16) "Salobo has a 48-year mine life, providing SLW a cornerstone long-lived stream."

MAG Silver Corp.

Joe Reagor, ROTH Capital Partners (5/23/16) "We are increasing our price target for MAG while maintaining our Buy rating."

Silver Wheaton Corp.

The Gold Report Article by Jason Hamlin (5/19/16) "SLW has performed well during the 2016 bounce in commodity prices."

MAG Silver Corp.

Heiko Ihle, Rodman & Renshaw (5/16/16) "MAG is fully funded to production; maintaining a Buy rating."

Klondex Mines Ltd.

Heiko Ihle, Rodman & Renshaw (5/12/16) "We expect a bounce back for KDX in both grades and production rates over the remainder of the year."

Don Blyth, Paradigm Capital (5/12/16) "KDX's management team has a good track record, and we are willing to believe the full-year guidance will be achieved."

Andrew Mikitchook, M Partners (5/12/16) "KDX is on track to make a production decision in H2/16."

Southern Silver Exploration Corp.

Eric Muschinski, Gold Investment Letter (5/12/16)

Silver Wheaton Corp.

Andrew Kaip, BMO Capital Markets (5/11/16) "We expect SLW will become increasingly attractive to generalist investors re-entering the sector and seeking exposure to silver."

Klondex Mines Ltd.

Philip Ker, PI Financial (5/11/16) "We maintain our view that KDX's management can meet its target of 145-150 Koz Au eq."

Falco Resources Ltd.

Andrew Mikitchook, M Partners (5/10/16) "FPC's project remains economic even at lower gold prices."

Silver Wheaton Corp.

Phil Russo, Raymond James (5/9/16) "SLW is well positioned to benefit through commodity cycles with a number of high-quality long-life streams generating material levels of cash flow."

Andrew Kaip, BMO Capital Markets (5/9/16) "SLW's earnings beat resulted from higher-than-expected silver sales from the Antamina stream."

Cosmos Chiu, CIBC World Markets (5/9/16) "SLW's Q1/16 attributable silver equivalent production benefitted from strong contributions from Salobo."

Great Panther Silver Ltd.

Bhakti Pavani, Euro Pacific Capital (5/6/16) "GPR reported impressive performance on the cost front; we reiterate our Buy rating."

Cosmos Chiu, CIBC World Markets (5/5/16)

MAG Silver Corp.

The Gold Report Interview with Joe Reagor (5/4/16) "MAG raised some money earlier this year, and it came out of that very strong."

Tahoe Resources Inc.

Chris Thompson, Raymond James (5/4/16) "THO offers a unique combination of fully funded organic growth, strong FCF generation and an attractive dividend."

Great Panther Silver Ltd.

The Gold Report Interview with Brien Lundin (5/3/16) "GPR is in the absolute sweet spot for rising metals prices right now."

Silver Wheaton Corp.

Frank Holmes, U.S. Global Investors (5/2/16) "SLW has one of the highest sales-per-employee rates in the world."

Trefis (4/29/16) "SLW's estimated average annual production over the next five years is anticipated to be approximately 52 Moz silver eq."

Falco Resources Ltd.

Thibaut Lepouttre, Caesars Report (4/28/16) "FPC is mobilizing two drill rigs to start a new surface drill program at the Horne 5 mine in Québec, Canada."

Silver Wheaton Corp.

Charles Gibson, Edison Investment Research (4/28/16) "SLW had impressive Q4/15 performance, yet is the cheapest of its peers."

Klondex Mines Ltd.

Brien Lundin, Gold Newsletter (Jefferson Financial) (4/28/16) "KDX reported impressive Q1/16 production numbers; it has all the makings of a big winner in 2016."

Great Panther Silver Ltd.

Brien Lundin, Gold Newsletter (Jefferson Financial) (4/28/16) "GPR has had a great start to the year."

Klondex Mines Ltd.

Andrew Mikitchook, M Partners (4/21/16) "KDX's ramp-up at Fire Creek could come faster than previously thought."