Silver Recommendations

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."

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."

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."

Tahoe Resources Inc.

Ron Stewart, Dundee Capital Markets (4/21/16) "We like THO for its high-quality and low-cost operations, growth profile, strong balance sheet, sustainable dividend and disciplined merger and acquisition strategy."

Balmoral Resources Ltd.

The Gold Report Interview with Barry Allan (4/21/16) "BAR is definitely one of our favorites on the exploration side."

Rye Patch Gold Corp.

Thibaut Lepouttre, Caesars Report (4/20/16) "RPM's initial metallurgical test results are exceeding our expectations."

Silver Wheaton Corp.

Charles Gibson, Edison Investment Research (4/19/16) "We now estimate that SLW will be debt free in FY17."

Trevali Mining Corp.

Trish Saywell, The Northern Miner (4/18/16) "All of TV's deposits are open for expansion."

Tahoe Resources Inc.

Brent Cook, Exploration Insights (4/10/16) "We continue to hold THO for exposure to one of the best silver assets in the world."

Silver Wheaton Corp.

Andrew Kaip, BMO Capital Markets (4/7/16) "SLW's financing provides it greater flexibility to execute on future streaming transactions."

Tahoe Resources Inc.

Cosmos Chiu, CIBC World Markets (4/5/16) "THO's 2016 guidance was largely in line with our estimates."

Chris Thompson, Raymond James (4/4/16) "Following the closing of the Lake Shore Gold transaction, THO remains in a strong financial position."

Andrew Kaip, BMO Capital Markets (4/4/16) "THO's improved free cash flow profile reinforces its ability to self-fund future growth initiatives."

Trevali Mining Corp.

Stefan Ioannou, Haywood Securities (4/1/16) "TV's CFPS continues to reflect solid performance at its Santander zinc-lead-silver mine in Peru."

Great Panther Silver Ltd.

Brien Lundin, Gold Newsletter (Jefferson Financial) (4/1/16) "Take the more than doubling GPR's stock has enjoyed as a sign of what's to come."

Tahoe Resources Inc.

Chris Thompson, Raymond James (3/31/16) "THO offers a unique combination of low-cost production, fully funded organic growth, significant free cash flow generation and a strong balance sheet."

Klondex Mines Ltd.

Andrew Mikitchook, M Partners (3/28/16) "Impressive cash costs highlight KDX's Q4/15 financials."

Silver Wheaton Corp.

Charles Gibson, Edison Investment Research (3/24/16) "A strong Q4/15 performance at SLW's gold division was complemented by an equally impressive performance from its silver division."

Klondex Mines Ltd.

Jamie Spratt, Clarus Securities (3/24/16) "KDX is well positioned to see higher production and lower costs as it continues to ramp up production."

Josh Wolfson, Dundee Capital Markets (3/24/16) "KDX reported adjusted EPS of $0.04, above our estimate of -$0.03."

Tara Hassan, Haywood Securities (3/24/16) "KDX released Q4/15 financial results; revenue, operating costs, G&A and taxes paid all came in ahead of our expectations."

Great Panther Silver Ltd.

Bhakti Pavani, Euro Pacific Canada (3/21/16) "We maintain our Buy on GPR but are increasing the price target."

Silver Wheaton Corp.

Josh Wolfson, Dundee Capital Markets (3/17/16) "SLW's Q4/15 adjusted earnings per share exceeded expectations."

Cosmos Chiu, CIBC World Markets (3/17/16) "SLW reported 15.5 Moz Ag eq production in Q4/15 versus our 12.2 Moz estimate."

Phil Russo, Raymond James (3/17/16) "SLW's production growth is expected to continue into 2016."

Andrew Kaip, BMO Capital Markets (3/16/16) "SLW's Q4/15 adjusted EPS came in at $0.14, slightly above our estimate."

Tahoe Resources Inc.

Brent Cook, Exploration Insights (3/13/16) "THO has little debt and the strength to maintain its dividend policy."

MAG Silver Corp.

Heiko Ihle, Rodman & Renshaw (3/10/16) "MAG's capital raise serves as a significant derisking event."

Tahoe Resources Inc.

Geordie Mark, Haywood Securities (3/10/16) "THO's Q4/15 results show strong cash flow on solid operations performance and lower costs."

Callinex Mines Inc.

Equities.com (3/7/16) "CNX has a new discovery at a time when HudBay's 777 mine is near exhausted and no further ore sources are known within the Flin Flon Belt."

Great Panther Silver Ltd.

Heiko Ihle, Rodman & Renshaw (3/7/16) "GPR beat both our financial and operational estimates for FY/15."

Bhakti Pavani, Euro Pacific Canada (3/7/16) "We are upgrading our rating on GPR to Buy."

Rye Patch Gold Corp.

Barry Allan, Mackie Research Capital (3/7/16) "RPM's Lincoln Hill project has 570 Koz Au eq Measured and Indicated."

Tahoe Resources Inc.

Stephen Walker, RBC Capital Markets (3/7/16) "THO's balance sheet remains strong through a two-year capital intensive development phase."

MAG Silver Corp.

David Sadowski, Raymond James (3/1/16) "MAG closed a bought deal equity financing for gross proceeds of $65M."

Tahoe Resources Inc.

The Gold Report Interview with Joe Mazumdar (2/25/16) "Lake Shore's land package in Canada puts THO in a stable jurisdiction."

Great Panther Silver Ltd.

Brien Lundin, Gold Newsletter (Jefferson Financial) (2/25/16) "GPR has assets to weather the current environment for gold and silver prices."

Bhakti Pavani, Euro Pacific Canada (2/23/16) "GPR announced an updated resource estimate for GMC."

MAG Silver Corp.

Philip Ker, PI Financial (2/18/16) "Development at MAG's Juanicipio continues to progress steadily."

Greg McCoach, Mining Speculator (2/17/16) "When it comes to a great silver company, MAG is as good as it gets."

Rye Patch Gold Corp.

Thibaut Lepouttre, Caesars Report (2/17/16) "RPM continues to benefit from the royalty deal with Coeur Mining."

Silver Wheaton Corp.

Charles Gibson, Edison Investment Research (2/15/16) "SLW's Q4/15 results, scheduled for release on March 16, will include the Antamina gold stream for the first time."

Tahoe Resources Inc.

The Gold Report Interview with Geordie Mark (2/11/16) "THO's Lake Shore Gold acquisition would seem perfectly timed as that company has matured its operations to deliver lower cost production that would augment Tahoe's production base."

Gwen Preston, Resource Maven (2/10/16) "THO's takeover of Lake Shore Gold will boost its jurisdictional appeal."

Chris Thompson, Raymond James (2/9/16) "The addition to THO of Lake Shore's asset base should be welcomed."

Silver Wheaton Corp.

Ben Kramer-Miller, miningWEALTH (2/9/16) "SLW's cash flow is robust even in a low metal price scenario."

Tahoe Resources Inc.

Ben McEwen, CIBC World Markets (2/9/16) "THO's acquisition of Lake Shore Gold brings it producing assets near Timmins, Ontario, which have been free cash flow positive for the past year."

MAG Silver Corp.

The Gold Report Interview with Joe Reagor (2/8/16) "By the middle of 2016, MAG should have all the necessary permits to break ground on construction."

Tahoe Resources Inc.

Chris Thompson, Raymond James (2/8/16) "Lake Shore adds a large high-grade, geopolitically friendly asset to THO."

Geordie Mark, Haywood Securities (2/8/16) "The acquisition of Lake Shore Gold would lower THO's overall risk profile."

Barry Allan, Mackie Research Capital (2/8/16) "Lake Shore will provide excellent political insulation for THO shareholders."

Viscount Mining Corp.

Ron Struthers, Struthers Resource Stock Report (2/5/16) "VML stock responded well to drill results from Cherry Creek showing moderate to high-grade silver mineralization."

NOVAGOLD

Jefferson Research (2/5/16) "NG's stock deserves a Buy rating."

Silver Wheaton Corp.

Hard Asset Investments, Seeking Alpha (2/3/16) "The Panoro Minerals deal is simply a no-brainer for SLW."

Tahoe Resources Inc.

The Gold Report Interview with Ralph Aldis (2/1/16) "THO's management team has a lot of experience and has maneuvered a lot of markets before."

Silver Wheaton Corp.

The Gold Report Interview with Ralph Aldis (2/1/16) "SLW's tax controversy could result in a very good entry point for some people."

Trefis (1/27/16) "SLW is the world's largest silver streaming company and its production is anticipated to increase significantly."

Tahoe Resources Inc.

Chris Thompson, Raymond James (1/26/16) "THO ranks as a premier low-cost precious metals producer that offers fully funded organic growth."

Falco Resources Ltd.

Mick Carew, Haywood Securities (1/25/16) "The significant increase in resources in FPC's updated estimate provides confidence in the quality and predictability of the Horne deposit."

Great Panther Silver Ltd.

Bhakti Pavani, Euro Pacific Canada (1/22/16) "GPR's 2015 production was the highest in the company's history and above guidance."

David Morgan, Golden Opportunities (1/21/16) "GPR has worked consistently to increase output and reduce costs."

Falco Resources Ltd.

Haywood Securities (1/21/16) "In Q1/16 FPC is expected to release an updated resource estimate and a PEA."

Pershing Gold Corp.

Bhakti Pavani, Euro Pacific Canada (1/21/16) "PGLC will provide a resource estimate update in Q2/16."