Base Metals Recommendations

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."

Adam Low, Raymond James (4/14/14) "TV's Q1/14 production results exceeded our estimates for all metals."

Erik Bermel, M Partners (4/14/14) "TV's Q1/14 operating results were well ahead of our estimates."

Stefan Ioannou, Haywood Securities (4/14/14) "Ramp-up continues to progress well at TV's Santander mine."

Derek Macpherson, M Partners (4/14/14) "TV's Santander operating results were well ahead of our estimates."

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

Joseph Gallucci, Dundee Capital Markets (4/14/14) "At its current pace, TV could beat 2014 production guidance handily."

Clifton Star Resources Inc.

Killian Charles, Industrial Alliance Securities (4/11/14) "The NPV of CFO's Duparquet project could increase by about $75–100M."

Virginia Mines Inc.

Haywood Securities (4/11/14) "VGQ will acquire Alto Ventures' 0.5% NSR on Windfall and Arcane."

Trevali Mining Corp.

Joseph Gallucci, Dundee Capital Markets (4/7/14) "TV is our Top Pick in the junior mining space."

Virginia Mines Inc.

Brent Cook, Exploration Insights (4/6/14) "VGQ is quality for sure."

Zimtu Capital Corp.

The Mining Report Interview with Stephan Bogner (4/1/14) "Many of ZC's core holdings have more than doubled year-to-date."

Pasinex Resources Ltd.

The Mining Report Interview with Stephan Bogner (4/1/14) "The outlook for PSE turned from bad to fabulous a few weeks ago."

Hot Chili Ltd.

Kip Keen, MineWeb.com (3/31/14) "HCH reported 90.5 Mt reserves and 214 Mt resources at Productora."

Trevali Mining Corp.

Erik Bermel, M Partners (3/31/14) "We expect the PEA on TV's New Brunswick assets in early April."

Champion Iron Mines Limited

The Mining Report Interview with Mark Lackey (3/25/14) "CHM has a major player behind it with a proven track record in Australia's iron ore business."

Freyja Resources Inc.

The Mining Report Interview with Mark Lackey (3/25/14) "FRA took over an excellent near-term production project in Mexico, a jurisdiction where it has a proven track record."

Deborah Bacal, Proactive Investors (3/25/14) "FRA has received a government drilling permit for Las Cristinas."

Etienne Moshevich, Alphastox.com (3/24/14) "FRA could generate substantial profits if it achieves its goals."

Royal Nickel Corp.

The Mining Report Interview with Jeb Handwerger (3/18/14) "RNX's Dumont Nickel project is one of the best advanced nickel projects under the control of a junior."

Jeb Handwerger, Gold Stock Trades (3/18/14) "RNX is significantly undervalued and could be a tenbagger."

Tinka Resources Ltd.

Thibaut Lepouttre, Caesars Report (3/18/14) "Intercepts of interest at TK's Ayawilca include 22.8m of 5.8% zinc."

Trevali Mining Corp.

Chris Chang, Laurentian Bank Securities (3/14/14) "TV is expected to release its Caribou deposit mine plan very soon."

Atico Mining Corp.

The Gold Report Interview with Derek Macpherson (3/12/14) "Because ATY has very high grades, it doesn't need a lot of throughput to generate meaningful free cash flow."

Trevali Mining Corp.

The Gold Report Interview with Derek Macpherson (3/12/14) "TV has material growth on the horizon."

Midland Exploration Inc.

Brien Lundin, Gold Newsletter (Jefferson Financial) (3/12/14) "MD is a well-funded junior explorer with a wealth of great projects."

Hot Chili Ltd.

Luke Smith, Canaccord Genuity (3/12/14) "HCH's Frontera resource potentially provides additional mine life via satellite ore feed to Productora."

Northern Minerals Ltd.

The Mining Report Interview with Paul Adams (3/11/14) "NTU is blessed with one of the simplest mineral assemblages, dominated by xenotime."

Hot Chili Ltd.

The Mining Report Interview with Paul Adams (3/11/14) "HCH sought areas that fulfilled its criteria and found, negotiated and acquired three projects very quietly."

Esmarie Swanepoel, Mining Weekly (3/11/14) "HCH has declared a maiden resource of 50.5 Mmt grading 0.4% Cu and 0.2 g/t Au at its Frontera project."

Freyja Resources Inc.

Deborah Bacal, Proactive Investors (3/7/14) "Insiders of FRA now own an approximately 17% total interest in the company."

Mandalay Resources Corp.

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

Atico Mining Corp.

Erik Bermel, M Partners (3/3/14) "ATY has a proven management team, high grades and expansion potential."

Trevali Mining Corp.

Barry Allan, Mackie Research Capital (2/27/14) "Results from TV's Stratmat program have been largely positive."

Barry Allan, Mackie Research Capital (2/27/14) "Results from TV's Stratmat program have been largely positive."

Adam Low, Raymond James (2/26/14) "The assays for a number of TV's Stratmat drill holes are impressive."

Derek Macpherson, M Partners (2/26/14) "Stratmat provides TV with long-term growth potential in the Bathurst mining camp."

Canadian Mining Journal (2/26/14) "TV is intersecting multiple high-grade massive sulphide lenses over significant intervals at its Stratmat zinc-lead-copper deposit."

Adam Low, Raymond James (2/26/14) "The assays for a number of TV's drill holes were impressive; at times, well in excess of the current Inferred resource estimate for Stratmat."

Royal Nickel Corp.

The Mining Report Interview with Paul Renken (2/25/14) "RNX's deposit is very, very big. It offers a secure supply, not for just a few years but for a few decades."

Trevali Mining Corp.

Matthew O'Keefe, Mackie Research Capital (2/21/14) "Performance at TV's Santander has been consistently good."

Joseph Gallucci, Dundee Capital Markets (2/20/14) "TV did well to get Santander to commercial production in six months."

Adam Low, Raymond James (2/20/14) "TV is transitioning from a mine developer to a metals producer."

Aleem Ladak, PI Financial (2/20/14) "During January, TV's Santander produced 4.9 Mlb zinc."

Erik Bermel, M Partners (2/20/14) "TV's commercial production at Santander should be a derisking step."

Chris Chang, Laurentian Bank Securities (2/20/14) "Shares of TV should expect a rerating over time."

Charlotte McLeod, Resource Investing News (2/20/14) "Expect to see TV give New Brunswick more attention moving forward."

Champion Iron Mines Limited

The Gold Report Interview with Adam Low (2/19/14) "Mamba Minerals will bring credibility and know-how to CHM in its transition from developer to producer."

Trevali Mining Corp.

The Gold Report Interview with Adam Low (2/19/14) "TV is in a stronger position now than I've ever seen it; its balance sheet is robust."

Mandalay Resources Corp.

Chris Thompson, Raymond James (2/19/14) "MND has a solid growth profile, a proven operating team and a strong balance sheet."

Freyja Resources Inc.

James West, Midas Letter (2/18/14) "FRA is on the fast track to copper production."

Hot Chili Ltd.

Barry Fitzgerald, The Australian (2/18/14) "HCH is a prime example of a company with quality management and a project in a favorable location."

Bob Moriarty, 321 Gold (2/17/14) "HCH is a good copper story with excellent management."

Freyja Resources Inc.

Deborah Bacal, Proactive Investors (2/14/14) "FRA is looking to advance to initial production from the get-go."

Hot Chili Ltd.

The Gold Report Interview with Bob Moriarty (2/12/14) "HCH has really good management and a really good story."

Revolver Resources Inc.

The Gold Report Interview with Bob Moriarty (2/12/14) "RZ has an exciting prospect in northern British Columbia."

Brazil Resources Inc.

Jay Taylor, Gold, Energy & Tech Stocks (2/7/14) "From its acquisition, BRI gains 1.4 Moz based on a 0.5 g/t cutoff."

Freyja Resources Inc.

Stockhouse (2/5/14) "FRA has a promising project in Las Cristinas, and continues to pick up fans of late."

Trevali Mining Corp.

Matthew O'Keefe, Mackie Research Capital (2/5/14) "TV's mill at Santander operated at nameplate capacity in January."

Joseph Gallucci, Dundee Capital Markets (2/5/14) "TV is undervalued compared to its base metals-producing peers."

Stefan Ioannou, Haywood Securities (2/4/14) "TV is poised to become a marquee midtier zinc producer."

Adam Low, Raymond James (2/4/14) "TV is transitioning from a mine developer to a metals producer."

Erik Bermel, M Partners (2/4/14) "TV again achieved nameplate capacity in January at Santander."

Joseph Gallucci, Dundee Capital Markets (2/3/14) "TV is our top pick in the junior mining space based on its unique zinc leverage and relationship with Glenstrata."

Freyja Resources Inc.

Chris Parry, Stockhouse (2/1/14) "FRA has completed its first-stage exploration program at the Las Cristinas."

Brazil Resources Inc.

Brien Lundin, Gold Newsletter (Jefferson Financial) (1/31/14) "Acquisitions have provided BRI nearly 4 Moz total gold resources."

Royal Nickel Corp.

Jeb Handwerger, Gold Stock Trades (1/30/14) "RNX's Dumont is one of the largest nickel deposits in the world."

Trevali Mining Corp.

Chris Chang, Laurentian Bank Securities (1/30/14) "Improving zinc prices, production growth and takeover potential all support our Buy rating for TV."

Red Eagle Mining Corp.

Paul Harris, Colombia Gold Letter (1/30/14) "RD expects to conclude its bankable feasibility study by year-end."

Freyja Resources Inc.

Deborah Bacal, Proactive Investors (1/30/14) "FRA has finished its first phase of exploration work on Las Cristinas."

Trevali Mining Corp.

The Gold Report Interview with David Morgan (1/27/14) "TV is one of the few positive stories out there right now."

Arianne Phosphate Inc.

Bob Moriarty, 321 Gold (1/22/14) "DAN is a takeover target, and once its share overhang is gone on Feb. 1, it would be natural for the shares to roar higher."

Midland Exploration Inc.

The Gold Report Interview with Eric Lemieux (1/21/14) "MD is well positioned to find new strategic partners for its different portfolio of projects."

Eric Lemieux, Laurentian Bank Securities (1/17/14) "MD has determined future drill targets at Valmond."

Mandalay Resources Corp.

Duncan Hughes, RFC Ambrian (1/17/14) "MND's 2013 total production of 126,908 oz Au eq exceeded guidance."

Revolver Resources Inc.

Bull Market Run (1/16/14) "RZ has completed the first 400m drill hole of its 1,000m program."

Mandalay Resources Corp.

Benjamin Asuncion, Haywood Securities (1/16/14) "MND will focus on the Cerro Bayo expansion to 1,400 tpd in Q1/14."

Trevali Mining Corp.

Aleem Ladak, PI Financial (1/16/14) "We are increasing our target price for TV following solid production results from Santander."

Orvana Minerals Corp.

The Gold Report Interview with Chen Lin (1/13/14) "ORV's balance sheet gets better quarter by quarter."

Trevali Mining Corp.

Matthew O'Keefe, Mackie Research Capital (1/8/14) "TV's mill has continued to operate consistently at nameplate capacity."