Base Metals Recommendations

Balmoral Resources Ltd.

The Gold Report Interview with Brien Lundin (8/27/15) "BAR has an extraordinary exploration team."

Callinex Mines Inc.

Thibaut Lepouttre, Caesars Report (8/26/15) "CNX is one of the very few companies ticking all the boxes."

Balmoral Resources Ltd.

The Gold Report Interview with Mick Carew (8/24/15) "BAR's management team has a proven track record."

Trevali Mining Corp.

Derek Macpherson, M Partners (8/18/15) "TV's Q2/15 financial results were roughly in line with our estimates."

Stefan Ioannou, Haywood Securities (8/18/15) "TV appears positioned to fully fund remaining start-up costs at Caribou."

Joseph Gallucci, Dundee Capital Markets (8/17/15) "TV's Q2/15 headline EBITDA was $7.2M, above our estimate of $4.6M."

Peter Campbell, Mackie Research Capital (8/17/15) "Commissioning of TV's Caribou is proceeding according to schedule."

MAG Silver Corp.

Heiko Ihle, Rodman & Renshaw (8/17/15) "MAG ended Q2/15 with sufficient cash to fund activities for the next year."

Trevali Mining Corp.

Ian Parkinson, GMP Securities (8/17/15) "TV's Q2/15 financials were in line with our and consensus estimates."

Wellgreen Platinum Ltd.

Heiko Ihle, Rodman & Renshaw (8/17/15) "We highlight the favorable economics of WG's Wellgreen project."

Trevali Mining Corp.

Alex Terentiew, Raymond James (8/17/15) "TV delivered an in-line Q2/15 following improvements at Santander."

Cancana Resources Corp.

Haywood Securities (8/14/15) "CNY's Rio Madeira plant hit record production in July."

Thibaut Lepouttre, Caesars Report (8/14/15) "CNY has received an order from a 'key Brazilian fertilizer manufacturer,' a very important achievement."

North American Nickel Inc.

The Gold Report Interview with Jeff Mosseri and Doug Loud (8/13/15) "When NAN eventually goes into production, its leverage will come to the fore."

Trevali Mining Corp.

Derek Macpherson, M Partners (8/13/15) "It appears that production at TV's Caribou mine is ready to ramp up."

Joseph Gallucci, Dundee Capital Markets (8/12/15) "TV's Caribou start-up has been progressing very well."

Stefan Ioannou, Haywood Securities (8/12/15) "TV's Caribou progress to date is in-line wth our ramp-up expectations."

Great Panther Silver Ltd.

Christopher Ecclestone, Hallgarten & Co. (8/12/15) "By optioning Nyrstar's Coricancha complex in Peru, GPR has diversified itself."

Balmoral Resources Ltd.

Philip Ker, PI Financial (8/11/15) "We are initiating coverage of BAR with a Buy recommendation."

Franco-Nevada Corp.

Cosmos Chiu, CIBC World Markets (8/11/15) "FNV remains a top pick in the sector."

Pilot Gold Inc.

Kevin MacKenzie, Salman Partners (8/11/15) "We are initiating coverage on PLG with a Speculative Buy rating."

Franco-Nevada Corp.

Josh Wolfson, Dundee Capital Markets (8/11/15) "FNV reported Q2/15 adjusted EPS above our estimate."

Phil Russo, Raymond James (8/11/15) "FNV is well positioned to add to its portfolio."

North American Nickel Inc.

Charlotte McLeod, Nickel Investing News (8/5/15) "A 6,000m drilling program at NAN's Maniitsoq is 35% complete."

Midland Exploration Inc.

Eric Lemieux, PearTree Securities Inc. (8/4/15) "MD's field work is setting the stage for a potential drill program."

Alkane Resources Ltd.

Tom Hayes, Edison Investment Research (8/3/15) "FY/15 data show ALK's Tomingley to be a solid, profitable mine."

Midland Exploration Inc.

Brien Lundin, Gold Newsletter (Jefferson Financial) (7/30/15) "MD has begun a mapping and channel sampling program at Willbob."

Trevali Mining Corp.

Derek Macpherson, M Partners (7/30/15) "A positive Caribou update should be positive for TV's share price."

Pilot Gold Inc.

Gwen Preston, Resource Maven (7/30/15) "PLG has a good amount of cash and three prospective projects."

Callinex Mines Inc.

Trish Saywell, The Northern Miner (7/27/15) "CNX expects RCF to acquire most of its upcoming $3M private placement."

Primero Mining Corp.

Michael Gray, Macquarie Equity Research (7/21/15) "P has delivered exceptional results from its cornerstone San Dimas asset."

Trevali Mining Corp.

The Gold Report Interview with Ray Goldie (7/20/15) "TV is one of the best zinc plays."

The Gold Report Interview with Stefan Ioannou (7/16/15) "TV's management has demonstrated the ability to take significant geological finds and turn them into operating mines."

Balmoral Resources Ltd.

The Gold Report Interview with Stefan Ioannou (7/16/15) "BAR's Grasset is one of the market's current marquee high-grade nickel-sulphide exploration stories."

Integra Gold Corp.

Joe Reagor, ROTH Capital Partners (7/15/15) "ICG continues to demonstrate strong drill results at Sigma-Lamaque."

MAG Silver Corp.

Heiko Ihle, Rodman & Renshaw (7/13/15) "We are assuming coverage of MAG with a Buy recommendation."

Franco-Nevada Corp.

Canaccord Genuity (7/10/15) "We maintain our Buy recommendation on FNV's stock."

North American Nickel Inc.

Haywood Securities (7/10/15) "NAN's financing will fund 2015 exploration and drilling at Maniitsoq."

Trevali Mining Corp.

Peter Campbell, Mackie Research Capital (7/9/15) "TV's Santander is now running at steady state capacity."

Derek Macpherson, M Partners (7/8/15) "We model TV declaring commercial production at Caribou in Q3/15."

Joseph Gallucci, Dundee Capital Markets (7/8/15) "Overall, it was an excellent Q2/15 for TV's production."

Peter Arendas, Seeking Alpha (7/8/15) "TV's Q2/15 silver and lead production set a new historical record."

Stefan Ioannou, Haywood Securities (7/8/15) "Production continues to progress well at TV's Santander mine."

Balmoral Resources Ltd.

Haywood Securities (7/7/15) "BAR continues to expand its Grasset nickel-copper-PGE project in Quebec."

Trevali Mining Corp.

Alex Terentiew, Raymond James (7/7/15) "We believe that TV can realize free cash flow by year's end."

Joseph Gallucci, Dundee Capital Markets (7/7/15) "TV's commissioning of its Caribou mine is progressing very well."

Mark Turner, Scotia Capital (7/7/15) "TV's Caribou mine ramp-up is progressing in line with expectations."

Red Eagle Mining Corp.

Thibaut Lepouttre, Caesars Report (7/1/15) "RD doesn't seem to have an insurmountable hurdle in getting CB Gold shareholders to tender."

MAG Silver Corp.

David Sadowski, Raymond James (6/29/15) "MAG is a likely takeout candidate."

Gwen Preston, Resource Maven (6/26/15) "There may be high-grade mineralization underneath MAG's Juanicipio project."

David Sadowski, Raymond James (6/26/15) "We see potential for MAG to double Juanicipio reserves at high grades."

Balmoral Resources Ltd.

Brien Lundin, Gold Newsletter (Jefferson Financial) (6/26/15) "The Grasset and Martiniere projects make BAR a compelling exploration story."

North American Nickel Inc.

Haywood Securities (6/25/15) "NAN has completed 14,589m drilling thus far at Maniitsoq in Greenland."

Trevali Mining Corp.

Derek Macpherson, M Partners (6/25/15) "We view TV's new equity financing positively, as it provides flexibility."

Cancana Resources Corp.

Thibaut Lepouttre, Caesars Report (6/23/15) "CNY is aiming for a BMC manganese project resource estimate by late 2016."

Pilot Gold Inc.

Tara Hassan, Haywood Securities (6/23/15) "We continue to see attractive upside at PLG's Kinsley."

Trevali Mining Corp.

Joseph Gallucci, Dundee Capital Markets (6/16/15) "TV is the best vehicle for zinc leverage on the TSX."

Alex Terentiew, Raymond James (6/16/15) "TV is on the verge of realizing positive free cash flow this year."

Quaterra Resources Inc.

The Gold Report Interview with Michael Berry (6/15/15) "QTA's Yerington property could become a major world-class copper resource."

Teresa Matich, Resource Investing News (6/15/15) "QTA announced that Freeport Nevada has completed stage 1 of the agreement."

Trevali Mining Corp.

Ian Parkinson, GMP Securities (6/12/15) "TV's equity financing will provide flexibility during Caribou ramp-up."

Mark Turner, Scotia Capital (6/11/15) "TV's balance sheet is well capitalized and positioned for the ramp-up."

Mark Turner, Scotia Capital (6/11/15) "TV maintains one of the strongest balance sheets in our producer coverage universe."

Midland Exploration Inc.

Eric Lemieux, PearTree Securities Inc. (6/10/15) "Diamond drilling at MD's Casault is to begin in the next few days."

Source Exploration Corp.

Tickerscores (6/8/15) "SOP is a promising story worth looking at."

Trevali Mining Corp.

The Northern Miner (6/8/15) "Emerging producer TV is a preferred zinc play among analysts."

Pilot Gold Inc.

Gwen Preston, Resource Maven (6/5/15) "PLG is a company with too many good projects and people to ignore."

Balmoral Resources Ltd.

Peter Campbell, Mackie Research Capital (6/4/15) "BAR's stepout holes continue to define the limits of Horizon 3 at Grasset."

Eric Lemieux, PearTree Securities Inc. (6/4/15) "BAR's winter 2015 drill program expanded the nickel-copper-PGE zones."

Alkane Resources Ltd.

Tom Hayes, Edison Investment Research (6/3/15) "The planning consent that ALK just received derisks its Dubbo asset."

Pilot Gold Inc.

Brent Cook, Exploration Insights (5/31/15) "PLG will explore Kinsley Mountain and Goldstrike this summer."

Balmoral Resources Ltd.

Haywood Securities (5/29/15) "BAR announced successful drill results along the Grasset Trend in Quebec."

Midland Exploration Inc.

Eric Lemieux, PearTree Securities Inc. (5/28/15) "MD has shrewdly acquired more land within the Québec Detour Trend."

Balmoral Resources Ltd.

Peter Campbell, Mackie Research Capital (5/27/15) "The Sirius transaction indicates potential upside for BAR's nickel assets."

Cancana Resources Corp.

Etienne Moshevitz, Alphastox.com (5/27/15) "The next 6–12 months could be very interesting for CNY shareholders."

Trevali Mining Corp.

Resource Investing News Interview with Stefan Ioannou (5/27/15) "As the only pure-play zinc producer, TV deserves a premium valuation."

Cancana Resources Corp.

Thibaut Lepouttre, Caesars Report (5/27/15) "CNY increased its stake in the world's highest-grade manganese project."

Wellgreen Platinum Ltd.

The Gold Report with Darrell Pasloski (5/26/15) "WG's project has the potential to become one of the world's largest, low-cost producers of PGMs and nickel from an open pit."

Balmoral Resources Ltd.

Peter Campbell, Mackie Research Capital (5/26/15) "We are initiating coverage on BAR with a Speculative Buy."

Peter Campbell, Mackie Research Capital (5/26/15) "BAR's Grasset has nickel-PGM mineralization along much of its length."