Critical Metals Recommendations

Trevali Mining Corp.

Joseph Gallucci, Dundee Capital Markets (1/22/15) "TV's 2014 production performance at Santander is one of the best start-up years we have seen."

Mandalay Resources Corp.

Mike Parkin, Desjardins Securities (1/13/15) "We met with MND's CEO and came away with higher conviction in our Top Pick rating."

Mike Parkin, Desjardins Securities (1/7/15) "Investors should buy MND before it rerates to trade more in line with its peer group."

Argonaut Gold Inc.

Andrew Kaip, BMO Capital Markets (1/7/15) "AR's Q4/14 and full year production numbers came in well above our estimates."

Balmoral Resources Ltd.

Thibaut Lepouttre, Caesars Report (1/6/15) "BAR's latest batch of drill results confirms the depth of the Horizon 3 sulphide zone."

Focus Graphite Inc.

The Mining Report Interview with Chris Berry (12/30/14) "The optimal junior mining graphite opportunities going forward will be those that have worked to establish their own supply chains, such as FMS."

Commerce Resources Corp.

The Mining Report Interview with Chris Berry (12/30/14) "CCE is both an REE play and a tantalum/niobium play; both are valuable and highly strategic assets."

Namibia Rare Earths Inc.

The Mining Report Interview with Chris Berry (12/30/14) "NRE is a good example of a critical metals story that slowly continues to derisk itself and impress in the process."

Uranerz Energy Corp.

The Mining Report Interview with Chris Berry (12/30/14) "URZ is one of the few companies that can operate in the current low uranium price environment."

Nemaska Lithium Inc.

The Mining Report Interview with Chris Berry (12/30/14) "We know a great deal about the potential economics of NMX's production plans; 2015 will be the year the company starts to solidify them."

Trevali Mining Corp.

Derek Macpherson, M Partners (12/19/14) "As TV ramps up production it should trade at a premium to peers."

Balmoral Resources Ltd.

Kevin MacKenzie, Salman Partners (12/18/14) "BAR announced the final results from its summer/fall drill program at Grasset."

Carbine Tungsten Ltd.

Peter Chilton, Edison Investment Research (12/16/14) "CNQ has received debt funding for the starter phase of its Hard Rock tungsten project."

PolyMet Mining Corp.

Chris Krueger, Lake Street Capital Markets (12/16/14) "POM reported Q3/15 results that met expectations."

Mason Graphite Inc.

Charlotte McLeod, Resource Investing News (12/15/14) "LLG has increased Lac Gueret's Measured and Indicated resource by 31%."

David Talbot, Dundee Capital Markets (12/15/14) "LLG is well funded and has experienced management."

Focus Graphite Inc.

David Talbot, Dundee Capital Markets (12/15/14) "FMS has an offtake agreement, a superb location and quality management."

Balmoral Resources Ltd.

Haywood Securities (12/12/14) "BAR's EM survey at Grasset successfully showcased the project's massive high-grade potential."

Medallion Resources Ltd.

Brien Lundin, Gold Newsletter (Jefferson Financial) (12/11/14) "I am still enamored with MDL's long-term prospects."

Balmoral Resources Ltd.

Brien Lundin, Gold Newsletter (Jefferson Financial) (12/11/14) "BAR enters the new year with two promising exploration projects."

Focus Graphite Inc.

Ben Kramer-Miller, Seeking Alpha (12/4/14) "FMS' Lac Knife is the most advanced of the major flake-graphite projects."

Syrah Resources Ltd.

Luke Smith, Canaccord Genuity (12/3/14) "We remain firmly of the view that SYR's Balama is a world-class project."

PolyMet Mining Corp.

Tom Meyer, CIBC World Markets (11/24/14) "Outperformer POM is continuing to make positive progress at its development project."

Callinex Mines Inc.

Stockhouse Editorial Team, Stockhouse (11/21/14) "CNX's Flin Flon and Pine Bay projects both have potential for big resource deposits."

Syrah Resources Ltd.

The Mining Report with Michael Slifirski (11/18/14) "SYR sits on one of the best graphite deposits in the world."

Mason Graphite Inc.

Daniel Greenspan, Macquarie Capital Markets (11/18/14) "By trucking Lac Guéret's ore to a mill, LLG could decrease capex and opex by 8% and 20%, respectively."

Trevali Mining Corp.

Adam Low, Raymond James (11/17/14) "TV offers investors the best equity exposure to zinc."

Primero Mining Corp.

Brian Szeto, PI Financial (11/13/14) "P's San Dimas is a long-life, high-grade asset that will continue producing well into the future."

Ucore Rare Metals Inc.

Jeb Handwerger, Gold Stock Trades (11/12/14) "UCU's technology produced a +99% HREE concentrate from Bokan ore."

Northern Minerals Ltd.

The Gold Report Interview with Jack Lifton (11/11/14) "NTU has a deposit of xenotime, the most desirable HREE."

Namibia Rare Earths Inc.

The Mining Report Interview with Jack Lifton (11/11/14) "NRE may be the lowest cost mine of all to bring to production."

Alkane Resources Ltd.

The Mining Report Interview with Jack Lifton (11/11/14) "ALK has an offtake for its REEs."

Mandalay Resources Corp.

Chris Thompson, Raymond James (11/7/14) "We continue to rate MND a Strong Buy."

Andrew Kaip, BMO Capital Markets (11/6/14) "MND's unit costs are trending downward at Cerro Bayo and Costerfield."

Excelsior Mining Corp.

Brien Lundin, Gold Newsletter (Jefferson Financial) (11/6/14) "With a 5 Blb+ copper resource and phased production approach, MIN is very attractive."

Uranerz Energy Corp.

The Mining Report Interview with Colin Healey (11/4/14) "URZ is a new producer and it's set to deliver its first financial results since the company registered first sales of uranium in September."

Northern Minerals Ltd.

The Gold Report Interview with Paul Adams (11/3/14) "NTU should be the world's next major dysprosium producer outside of China."

Medallion Resources Ltd.

Nick Wells, Rare Earth Investing News (11/2/14) "Processing monazite is MDL's unique approach to the rare earths market."

Focus Graphite Inc.

Ben Kramer-Miller, Seeking Alpha (10/29/14) "FMS entered an agreement with a First Nation tribe, a crucial step."

Comstock Mining Inc.

Teresa Matich, Resource Investing News (10/28/14) "LODE is expanding its mine plans and ramping up production while reducing costs."

Callinex Mines Inc.

Stockhouse Editorial Team, Stockhouse (10/25/14) "The depth of expertise and experience on CNX's advisory board is vast."

Mason Graphite Inc.

The Gold Report Interview with Ron Struthers (10/22/14) "LLG is the leader as far as graphite grade is concerned."

Focus Graphite Inc.

The Gold Report Interview with Ron Struthers (10/22/14) "FMS successfully tested upgrading the Lac Knife graphite to battery grade."

Commerce Resources Corp.

Stephan Bogner, Rockstone Research Ltd. (10/22/14) "CCE's Ashram is a great project in the hands of great management; it's my top pick."

Largo Resources Ltd.

Luisa Moreno, Euro Pacific Canada (10/17/14) "The TSX.V approved consolidation of LGO's shares on a 1:10 basis."

Commerce Resources Corp.

Arie Papernick, Secutor Capital Management (10/17/14) "CCE is cashed up and ready to advance Ashram."

Mandalay Resources Corp.

Craig Foggo, RFC Ambrian (10/15/14) "MND reported an all-time quarterly production record for gold, antimony and Au eq."

Bear Creek Mining Corp.

Trevor Turnbull, Scotia Capital (10/15/14) "With CA$43M cash, BCM has a liquidity runway of several years at current silver prices."

Namibia Rare Earths Inc.

The Mining Report Interview with John Kaiser (10/14/14) "NRE's PEA reported an after-tax IRR of 43%."

Mandalay Resources Corp.

Andrew Kaip, BMO Capital Markets (10/14/14) "MND's Q3/14 production numbers were a solid beat compared to our expectations."

Carbine Tungsten Ltd.

Gavin Wendt, Share Cafe (10/14/14) "CNQ is making meaningful strides toward production."

Red Eagle Mining Corp.

Thibaut Lepouttre, Caesars Report (10/13/14) "RD's Santa Rosa is a perfect fit for investors looking for low-capex and high-margin projects."

Focus Graphite Inc.

Ben Kramer-Miller, Seeking Alpha (10/10/14) "Of the late-stage Canadian graphite companies, I continue to believe FMS is the best positioned."

Commerce Resources Corp.

Derek Hamill, Zimtu Capital Corp. (10/9/14) "Material from CCE's Ashram achieved +40% TREOs with 70% REE recovery."

Focus Graphite Inc.

Jon Hykawy, Investor Intel (10/9/14) "FMS' Lac Knife is a good project by any measure."

Exeter Resource Corp.

Hebba Investments, Seeking Alpha (10/8/14) "XRC's Caspiche is rare in that it offers an acquirer great development options for a low price."

Bear Creek Mining Corp.

The Gold Report Interview with David Morgan (10/8/14) "We are bullish on BCM and believe Peru will return the Santa Ana project in full."

Trevali Mining Corp.

Derek Macpherson, M Partners (10/7/14) "TV is our top base metals pick as it continues to benefit from strong supply and demand fundamentals."

Exeter Resource Corp.

Daniel Earle, TD Securities (10/7/14) "Validating the potential water source at XRC's Caspiche will greatly derisk the project."

Mkango Resources Ltd.

Christopher Ecclestone, Hallgarten & Co. (10/1/14) "MKA's prefeasiblity numbers were attractive, and gave the stock price a deserved kick upwards."

Namibia Rare Earths Inc.

Nick Wells, Rare Earth Investing News (10/1/14) "NRE's Lofdal PEA highlights an impressive rate of return and potential to grow."

PolyMet Mining Corp.

Tom Meyer, CIBC World Markets (9/30/14) "POM is our top developer pick with a low-risk design and significant infrastructure in place."

Largo Resources Ltd.

Joseph Gallucci, Dundee Capital Markets (9/29/14) "LGO's Maracás positions the company to benefit from improving vanadium fundamentals."

Trevali Mining Corp.

GMP Securities (9/27/14) "We were very impressed by the tour to TV's Caribou mine."

Syrah Resources Ltd.

Luke Smith, Canaccord Genuity (9/26/14) "We view the board's experience as the right mix of market, technical, development and management."

Alkane Resources Ltd.

The Gold Report Interview with Richard Karn (9/24/14) "ALK increased gold reserves by 47% this year."

PolyMet Mining Corp.

Chris Krueger, Lake Street Capital Markets (9/23/14) "POM's EIS received one of the highest environmental grades possible for a mining project."

Energizer Resources Inc.

Luisa Moreno, Euro Pacific Canada (9/17/14) "EGZ plans a $4.8M private placement to fund production of samples."

Medallion Resources Ltd.

Vertus Equity Research (9/17/14) "Securing a long-term feedstock contract would trigger a rerating of MDL."

PolyMet Mining Corp.

Joe Reagor, ROTH Capital Partners (9/11/14) "POM is a value opportunity, so we are maintaining our Buy rating."

Callinex Mines Inc.

Gaalen Engen, Stockhouse (9/10/14) "CNX's President and CEO Max Porterfield has well-developed management skills and a gift for gab."

Energizer Resources Inc.

The Mining Report Interview with Filipe Martins (9/9/14) "EGZ's Molo has a low strip ratio and doesn't require acid treatment to improve its purity."

PolyMet Mining Corp.

Heiko Ihle, H.C. Wainwright & Co. (9/8/14) "POM's NorthMet sits in one of the world's largest undeveloped copper/nickel/precious metals deposits."

Bear Creek Mining Corp.

Trevor Turnbull, Scotia Capital (9/8/14) "BCM's cost-saving measures at Corani shouldn't require a new ESIA."

Eric Zaunscherb, Canaccord Genuity (9/8/14) "BCM's Corani optimization studies will help maintain low capex and opex while easing permitting."

Mason Graphite Inc.

Jim Rogers Interview with Midas Letter (8/28/14) "LLG is the place to play graphite or graphene."

Commerce Resources Corp.

Stephan Bogner, Rockstone Research Ltd. (8/27/14) "CCE's Ashram is leading the pack, while its peers are lagging in terms of economics and commercial viability."

Exeter Resource Corp.

SomaBull, Seeking Alpha (8/27/14) "XRC's Caspiche can perform well as a small project or as a massive one once gold prices return."

Syrah Resources Ltd.

The Mining Report Interview with Luke Smith (8/26/14) "SYR owns the Balama project, which contains close to 1.2 Bt with about 10% total contained graphite."

Excelsior Mining Corp.

Eric Coffin, HRA Advisory (8/24/14) "MIN has advanced Gunnison with very impressive results and the stock has big value potential."