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Paolo Lostritto

National Bank Financial

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Paolo Lostritto is the former director of mining equity research for National Bank Financial. He has also worked with Wellington West Mining, Scotia Capital and MGI Securities. He holds a Bachelor of Science degree in geological and mineral engineering from the University of Toronto.




Recent Interviews

Paolo Lostritto Outlines the Lombardi Method of Gold Investing (1/8/14) Deflation, inflation and reinflation all play into scenarios for the gold price and precious metals equity markets, as outlined by Paolo Lostritto, former director of mining equity research at National Bank Financial. How to play good defense in this unusual market? Companies with free cash flow top his list, but high-leverage, midtier producers with great management teams can satisfy investors with more appetite for risk, says Lostritto in this interview with The Gold Report.

Separating the Gold Mining Haves from the Have-Nots: Paolo Lostritto (1/23/13) After months of turmoil that have lasted longer than investors could have imagined, the mining world has been divided into haves and have-nots. There are gold companies that managed their balance sheets wisely and there are those that burned through cash and are left begging for financing. It's a great time for those flush companies that don't need handouts to take advantage of the resulting valuation differential, says Paolo Lostritto, the director of research and mining and metals analyst at National Bank Financial. In this interview with The Gold Report, Lostritto talks about a subtle shift he has seen in the market that may signal a bull run similar to that of the late 1970s and early 1980s.

A Defensive Portfolio Is the Best Offense: Paolo Lostritto (4/30/12) Paolo Lostritto, mining equity research analyst with National Bank Financial, attributes development companies' current struggles to both the recent trend for capital and operating cost increases and to the European sovereign debt crisis. But there are opportunities as long as investors look for companies with free-cash-flow growth and solid balance sheets. In this exclusive Gold Report interview, Lostritto shares some names of companies that have these attributes.

Recent Quotes

"One of our top picks is FNV because it's generating free cash flow yield even at lower gold prices." (1/8/14) Franco-Nevada Corp. - The Gold Report Interview with Paolo Lostritto Moreá>

"PLG is an exploration/development company that offers tremendous value." (1/8/14) Pilot Gold Inc. - The Gold Report Interview with Paolo Lostritto Moreá>

"TGM's feasibility study for the Karma project supports a low capital intensive, relatively simple and scalable gold project." (1/7/14) True Gold Mining Inc. - The Gold Report Interview with Paolo Lostritto Moreá>

"Offers from Hecla Mining and Alamos Gold both imply a significant price/cash flow premium for ARZ versus peers." (3/4/13) Aurizon Mines Ltd. - Paolo Lostritto, National Bank Financial Moreá>

"NG's success at Galore Creek highlights scale and further potential." (2/25/13) NOVAGOLD - Paolo Lostritto, National Bank Financial Moreá>

"PVG has had some exciting exploration in the Valley of the Kings." (1/23/13) Pretium Resources Inc. - The Gold Report Interview with Paolo Lostritto Moreá>

"PLG has had some notable drill results." (1/23/13) Pilot Gold Inc. - The Gold Report Interview with Paolo Lostritto Moreá>

"There's definitely an attraction to the royalty model, which was pioneered by the founders of FNV." (1/23/13) Franco-Nevada Corp. - The Gold Report Interview with Paolo Lostritto Moreá>

more comments

"We cover a few junior producers, but not all of them have the balance-sheet quality of ARZ." (1/23/13) Aurizon Mines Ltd. - The Gold Report Interview with Paolo Lostritto Moreá>

"ARZ received an unsolicited offer for all outstanding shares." (1/14/13) Aurizon Mines Ltd. - Paolo Lostritto, National Bank Financial Moreá>

"We are encouraged by the phased approach VTR planes for Kiaka." (1/10/13) Volta Resources Inc. - Paolo Lostritto, National Bank Financial Moreá>

"ARZ's Joanna drill results are a positive step for the company." (12/12/12) Aurizon Mines Ltd. - Paolo Lostritto, National Bank Financial Moreá>

"We look for ARZ to grow via acquisition." (10/5/12) Aurizon Mines Ltd. - Paolo Lostritto, National Bank Financial Moreá>

"We expect ARZ to work its balance sheet and grow via acquisition." (9/6/12) Aurizon Mines Ltd. - Paolo Lostritto, National Bank Financial Moreá>

"Drill results highlight the prospectivity of ORE's land package." (9/5/12) Orezone Gold Corporation - Paolo Lostritto, National Bank Financial Moreá>

"We reiterate our Outperform rating for ORE." (8/28/12) Orezone Gold Corporation - Paolo Lostritto, National Bank Financial Moreá>

"ARZ's stepout holes yielded positive results." (8/15/12) Aurizon Mines Ltd. - Paolo Lostritto, National Bank Financial Moreá>

"We expect ARZ to work its balance sheet and grow via acquisition." (8/9/12) Aurizon Mines Ltd. - Paolo Lostritto, National Bank Financial Moreá>

"ARZ's drilling confirms continuity of existing lenses." (7/30/12) Aurizon Mines Ltd. - Paolo Lostritto, National Bank Financial Moreá>

"We believe the IRR for NG's Donlin gold project is ~5.5%." (7/27/12) NOVAGOLD - Paolo Lostritto, National Bank Financial Moreá>

ôVGZ's Mt. Todd has been a turbo-leverage asset to the gold price." (7/12/12) Vista Gold Corp. - Paolo Lostritto, National Bank Financial Moreá>

"NG's Donlin project makes it an attractive acquisition target." (6/12/12) NOVAGOLD - Paolo Lostritto, National Bank Financial Moreá>

"ARZ's Marban drill results should help the upcoming resource update." (6/12/12) Aurizon Mines Ltd. - Paolo Lostritto, National Bank Financial Moreá>

"ORE's results continue to improve resource confidence and highlight growth potential." (6/4/12) Orezone Gold Corporation - Paolo Lostritto, National Bank Financial Moreá>

"VGZ's results turn a previous liability into a positive." (5/17/12) Vista Gold Corp. - Paolo Lostritto, National Bank Financial Moreá>

"ORE should be able to add value through its soft-rock development." (4/30/12) Orezone Gold Corporation - The Gold Report Interview with Paolo Lostritto Moreá>

"The current environment opens the door for royalty companies like RGLD to get involved with development projects." (4/30/12) Royal Gold Inc. - The Gold Report Interview with Paolo Lostritto Moreá>

"We believe there are more opportunities involving royalty companies like FNV." (4/30/12) Franco-Nevada Corp. - The Gold Report Interview with Paolo Lostritto Moreá>

"VGZ's drill results point to higher-grade potential." (4/26/12) Vista Gold Corp. - Paolo Lostritto, National Bank Financial Moreá>

"ARZ's recent data points highlight Marban's potential." (4/26/12) Aurizon Mines Ltd. - Paolo Lostritto, National Bank Financial Moreá>

"Metallurgical test results from ARZ's Marban showed initial promise." (4/24/12) Aurizon Mines Ltd. - Paolo Lostritto, National Bank Financial Moreá>

"ARZ's drill results should benefit Joanna project economics." (4/16/12) Aurizon Mines Ltd. - Paolo Lostritto, National Bank Financial Moreá>

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