Silver Recommendations

Silver Wheaton Corp.

The Gold Report Article by Adrian Day (12/5/16) "SLW is my favorite way to gain exposure to silver."

Charles Gibson, Edison Investment Research (11/24/16) "SLW's Q3/16 results showed an exceptionally strong performance from its gold assets."

Golden Arrow Resources Corp.

The Gold Report Article by Matt Geiger (11/17/16) "I think GRG shareholders will be rewarded with a generous offer in short order."

MAG Silver Corp.

Philip Ker, PI Financial (11/16/16) "MAG and its JV partner Fresnillo are charging ahead into 2017 with solid advancements."

Golden Arrow Resources Corp.

Gecko Research (11/15/16) "At GRG's Chinchillas JV project with Silver Standard Resources a lot of technical work is being done with great results."

MAG Silver Corp.

Joe Reagor, ROTH Capital Partners (11/13/16) "MAG will provide an updated resource including an initial resource for Valdecanas Deeps early in 2017."

TerraX Minerals Inc.

Ryan Walker, Echelon Wealth Partners (11/11/16) "TXR's drilling has extended Mispickel to the North, cutting a new high-grade lode."

Silver Wheaton Corp.

Michael Gray, Macquarie Capital Markets (11/10/16) "SLW trades in-line with peers while offering high quality streams with the majority of assets operating in the bottom half of their respective cost curves."

Josh Wolfson, Dundee Capital Markets (11/10/16) "SLW revised its production targets, with 2016 gold production now forecast to be 335 koz, up from 305 kHz previously."

Michael Gray, Macquarie Capital Markets (11/10/16) "This is a key opportunity to buy SLW at a discount; Salobo is delivering as the cornerstone asset."

Phil Russo, Raymond James (11/10/16) "SLW remains our highest FCF yielding name among our large caps and has increased the quarterly dividend by 20% this quarter."

Andrew Kaip, BMO Capital Markets (11/9/16) "SLW's Q3/16 production beat was due to higher gold production at Salobo."

Integra Gold Corp.

Phil Russo, Raymond James (11/9/16) "ICG's Lamaque C4 and C5 continue to return positive results outside the limit of the current resource estimate."

Klondex Mines Ltd.

Jeff Killeen, CIBC World Markets (11/8/16) "KLDX has set up to post a strong Q4 that will reflect increased production and lower costs."

Heiko Ihle, Rodman & Renshaw (11/7/16) "KLDX is an underground gold mining powerhouse in the making."

Tahoe Resources Inc.

Cosmos Chiu, CIBC World Markets (11/7/16) "TAHO continues to track towards the high end of 2016 silver production guidance."

Great Panther Silver Ltd.

Bhakti Pavani, Euro Pacific Canada (11/4/16) "Given the operating performance of GPR for the first nine months, we believe the Company might beat its own revised cash cost guidance of $4.00-$6.00."

Heiko Ihle, Rodman & Renshaw (11/4/16) "We feel strongly positions GPR to meet management's guidance of 4.0-4.2 million silver equivalent ounces as well as beat our estimate."

Southern Silver Exploration Corp.

Martin Wood, Vicarage Capital Ltd. (11/4/16) "SSV has an experienced board of directors and strong management team with a good track record in project exploration, discovery and development."

Tahoe Resources Inc.

Michael Gray, Macquarie Capital Markets (11/4/16) "TAHO's Q3/16 financials were better than Macquarie estimates; we rate it Outperform."

Klondex Mines Ltd.

Barry Allan, Mackie Research Capital (11/4/16) "KDX continues to achieve good operating results while digesting two new mines; we see it as a leader in high-grade mining."

Tahoe Resources Inc.

Chris Thompson, Raymond James (11/4/16) "TAHO's Escobal delivered an in-line quarter on production and costs, as did La Arena."

Andrew Kaip, BMO Capital Markets (11/3/16) "We expect a strong finish to 2016 to contribute to TAHO reaching its guidance targets for gold."

Great Panther Silver Ltd.

Brien Lundin, Gold Investment Letter (11/1/16) "GPR remains on track to meet its 2016 production guidance."

Trevali Mining Corp.

Ian Parkinson, GMP Securities (10/31/16) "TV reported drill results that intersected high-grade zinc, lead and silver mineralization; we maintain our Buy rating."

Silver Wheaton Corp.

Charles Gibson, Edison Investment Research (10/31/16) "SLW's shares are trading on near-term financial ratios that are cheaper than those of its peers in at least 75% of instances, despite being associated with materially less operational and cost risk."

Charles Gibson, Edison Investment Research (10/27/16) "SLW Q216 earnings were close to Edison’s forecast, but were still almost 50% better than the previous quarter."

Southern Silver Exploration Corp.

Eric Muschinski, Gold Investment Letter (10/26/16) "Visual results from SSV's drill program on the Oro project have been encouraging; samples have been submitted and assays are pending."

Thibaut Lepouttre, Caesars Report (10/21/16) "SSV has designed a new drill program that should increase confidence in the El Sol and Blond deposits."

MAG Silver Corp.

The Gold Report Interview with Doug Groh (10/18/16) "MAG's Deep Zone discovery is likely to be one of the best this decade."

Klondex Mines Ltd.

Heiko Ihle, Rodman & Renshaw (10/17/16) "KLDX is well on its way to becoming an underground gold mine consolidator in Nevada."

Trevali Mining Corp.

Joseph Gallucci, Dundee Capital Markets (10/13/16) "We are once again very impressed with the operating performance at Santander, where TV seems to set new production records every quarter."

Great Panther Silver Ltd.

Heiko Ihle, Rodman & Renshaw (10/13/16) "GPL is in a strong position to evaluate and execute an acquisition that should add production capabilities to the firm's portfolio."

Bhakti Pavani, Euro Pacific Capital (10/13/16) "Given the environment in the metals and mining industry, GPL has successfully managed to lower its cash cost and all-in sustaining cost."

Red Eagle Mining Corp.

Stuart McDougall, M Partners (10/11/16) "RD is an emerging, low-cost junior gold producer focused on the historic Santa Rosa project in Colombia."

Seabridge Gold Inc.

Raj Ray, National Bank Financial (10/7/16) "The importance of SA's KSM project lies in its significant scale (one of the largest undeveloped copper-gold deposits)."

TerraX Minerals Inc.

Ryan Walker, Echelon Wealth Partners (10/6/16) "TXR launched a three-rig, 27,000m drill program on the Yellowknife City Gold Project along the prolific shear system."

Golden Arrow Resources Corp.

Presmont Group (10/5/16) "GRG is the place to be for any investor and will become a prime takeover candidate."

Silver Wheaton Corp.

Kevin MacKenzie, PI Financial (10/5/16) "We view SLW to be a strong overall market hedge, and levered proxy to precious metal prices."

MAG Silver Corp.

Joe Reagor, ROTH Capital Partners (10/4/16) "We are increasing our target price and our rating to Buy, as we believe MAG's exploration potential is a near-term opportunity."

Michael Gray, Macquarie Capital Markets (10/3/16) "Our site visit reinforced our view that MAG's Juanicipio JV is the world's best undeveloped precious metals asset that a developer has exposure to."

Heiko Ihle, Rodman & Renshaw (10/3/16) "MAG could eventually be taken out by a larger firm as Juanicipio has proven itself to be a cornerstone asset with exceptional potential."

Chris Thompson, Raymond James (10/3/16) "MAG offers significant fully funded production and cash flow growth potential unlocked through organic development; it's our favorite developer."

Eric Zaunscherb, Canaccord Genuity (10/2/16) "We are increasing our target price for MAG and our rating to Speculative Buy, following a successful site visit to the Juanicipio JV."

Avrupa Minerals Ltd.

Brien Lundin, Gold Newsletter (Jefferson Financial) (10/1/16) "A great long-term play on metals discovery in Europe, AVU remains a Buy at current levels."

Silver Wheaton Corp.

Kevin MacKenzie, PI Financial (9/30/16) "SLW continues to tick all of the investment boxes."

Phil Russo, Raymond James (9/30/16) "We continue to like SLW today for its leading portfolio of mines, peer leading cash flow profile and favorable valuation profile."

Michael Gray, Macquarie Equity Research (9/30/16) "The in-house due diligence team provides SLW with a key competitive advantage."

Josh Wolfson, Dundee Capital Markets (9/30/16) "SLW maintains several key development projects which could add an incremental ~19 Moz Ag eq annually to its production profile."

NexGen Energy Ltd.

James Kwantes, Resource Opportunities (9/30/16) "I remain confident that NXE and its rapidly growing high-grade Arrow deposit will be taken out by a major."

Silver Wheaton Corp.

Andrew Kaip, BMO Capital Markets (9/29/16) "We came away impressed with SLW, a company that manages a portfolio of high-quality, long-life assets."

Cosmos Chiu, CIBC World Markets (9/29/16) "The presentation of SLW's Salobo and Sudbury reaffirmed the quality and significance of these as world-class assets."

Charles Gibson, Edison Investment Research (9/29/16) "SLW's Q2/16 performance was buoyed by record gold sales."

Josh Wolfson, Dundee Capital Markets (9/20/16) "SLW's management outlined it maintains a sector-leading low-cost portfolio, with >95% of production sourced from assets within the lower half of the cost curve."

Seabridge Gold Inc.

Raj Ray, National Bank Financial (9/19/16) "We expect the results of the upcoming PEA will include a positive updated resource estimate at SEA's KSM gold-silver-copper-Molybdenum project."

Silver Wheaton Corp.

Sean Williams, The Motley Fool (9/19/16) "If silver rises substantially, so should SLW's payout."

Southern Silver Exploration Corp.

James McClelland, TSX Media (9/19/16) "SSV's management team has a laundry list of successful track records."

Silver Wheaton Corp.

Jorge Beristain, Deutsche Bank (9/9/16) "We initiate coverage of SLW with a Buy."

The Gold Report Article by Ben Kramer-Miller (9/8/16) "SLW's cash flow will be bolstered through mine expansions at two of its biggest streaming assets—Salobo and Peñasquito—over the next few years."

MAG Silver Corp.

Michael Gray, Macquarie Capital Markets (9/8/16) "We reiterate our Outperform rating and Top Pick status for MAG."

Silver Wheaton Corp.

Adrian Day, Global Analyst (9/2/16) "SLW has a good project pipeline and available resources for future acquisitions."

Gold Standard Ventures Corp.

Brien Lundin, Gold Newsletter (Jefferson Financial) (9/1/16) "GSV rocketed higher earlier this month due to the release of an eye-popping intersection from drilling on its North Dark Star deposit."

Southern Silver Exploration Corp.

Christopher Ecclestone, Hallgarten & Co. (8/31/16) "If the resource keeps evolving SSV’s project will become a “must-have” for a major or mid-tier miner."

Silver Wheaton Corp.

Charles Gibson, Edison Investment Research (8/30/16) "SLW's performance was buoyed by record gold sales."

Azure Minerals Ltd.

Simon Tonkin, Patersons Securities (8/25/16) "AZS has thus far defined c.100koz gold at Loma Bonita with potential to at least double that."

Silver Wheaton Corp.

Charles Gibson, Edison Investment Research (8/25/16) "SLW is trading on near-term financial ratios that are cheaper than those of its royalty/streaming peers."

Southern Silver Exploration Corp.

Trish Saywell, Northern Miner (8/25/16) "SSV has caught the eye of the Electrum Group, a privately owned, natural resource investment management company founded by billionaire Thomas Kaplan."

Pretium Resources Inc.

Heiko Ihle, Rodman & Renshaw (8/24/16) "PVG's Brucejack should be constructed on schedule, and we continue to view the asset as one of the world's premier development-stage gold assets."

Jeff Killeen, CIBC World Markets (8/24/16) "PVG notes that it remains on time and on budget for a production start-up in late H1/17."

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."