Sector Experts

Philip Ker

PI Financial

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Philip Ker is a mining analyst for PI Financial. He has field experience as an exploration geologist working across Canada on gold, diamond and base metal projects. He holds a Master of Business Administration degree in finance at the University of Alberta and also completed a Bachelor of Science degree in geology.




Recent Interviews

Why Miners with Positive Cash Flow Deserve Your Attention: Philip Ker (3/2/15) Cash flow. Cash Flow. Cash flow. That's where investors should focus in 2015, says Philip Ker, mining analyst with PI Financial. Ker says that Canadian and Mexican gold producers are generating greater cash flow owing to a stronger U.S. greenback and more finely tuned mine plans. In this interview with The Gold Report, he shares his top stock pick for 2015 and some equity stories that could unlock further shareholder value with the drill bit.

Thinning the Junior Mining Herd Tough but Necessary: Philip Ker (4/12/13) A dearth of financing is culling the junior mining herd. Who will be left? Philip Ker, a mining analyst with PI Financial in Toronto, believes cash-flow generators in safe jurisdictions will continue to perform in this market. In this interview with The Gold Report, Ker talks about a few favorite companies that fit the bill.

Junior Miners Still Giving the Street Something to Talk About: Philip Ker (7/30/12) Which junior miners are giving the Street something to talk about? Some shining examples of promising companies with good balance sheets do exist despite what seems like a market dominated by bad news. In this exclusive interview with The Gold Report, Philip Ker, an analyst with Vancouver-based Union Securities, shares the good news his latest site visits have revealed about projects in Nevada and Mexico.

Recent Quotes

"We believe BAR's Bug Lake target may contain grades that could support a stand-alone operation." (8/27/15) Balmoral Resources Ltd. - Philip Ker, PI Financial More >

"KDX continues incremental tonnage increases at both its operations." (8/13/15) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"We are initiating coverage of BAR with a Buy recommendation." (8/11/15) Balmoral Resources Ltd. - Philip Ker, PI Financial More >

"We are confident that KDX's exploration and development efforts will lead to further discoveries." (8/4/15) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"TMM will amend its San Francisco mine plan to target high-grade ore zones." (7/31/15) Timmins Gold Corp. - Philip Ker, PI Financial More >

"KDX continues to deliver on all fronts of its operations." (7/22/15) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"KTN is raising funds to advance its exciting La Negra discovery in Mexico." (7/17/15) Kootenay Silver Inc. - Philip Ker, PI Financial More >

"TMM has begun underground drifting at its San Francisco operation in Mexico." (7/8/15) Timmins Gold Corp. - Philip Ker, PI Financial More >

more comments

"KTN's La Negra discovery amplifies the potential of the district." (6/15/15) Kootenay Silver Inc. - Philip Ker, PI Financial More >

"Based on upside at Fire Creek and Midas, we maintain our Buy rating on KDX." (5/21/15) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"KTN's final assays confirm broad intercepts of silver mineralization." (5/20/15) Kootenay Silver Inc. - Philip Ker, PI Financial More >

"KDX remains well positioned to meet capital requirements over the remainder of 2015." (5/14/15) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"We are upgrading TMM's stock from Neutral to Buy." (5/6/15) Timmins Gold Corp. - Philip Ker, PI Financial More >

"We are increasing our price target for KTN and maintaining our Buy rating." (4/30/15) Kootenay Silver Inc. - Philip Ker, PI Financial More >

"MAG's highlight intercept boasted a wide interval of mineralization." (4/24/15) MAG Silver Corp. - Philip Ker, PI Financial More >

"KDX announced a slight beat to Q1/15 production estimates." (4/15/15) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"TMM had gold production of 24,155 oz for Q1/15." (4/14/15) Timmins Gold Corp. - Philip Ker, PI Financial More >

"Highlight intersections at KDX's Midas lead to 2015 mine plan upside." (4/7/15) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"We remain bullish on KTN's exploration potential at La Negra." (3/31/15) Kootenay Silver Inc. - Philip Ker, PI Financial More >

"For 2014, TMM met annual guidance by selling ~121 Koz Au eq." (3/11/15) Timmins Gold Corp. - Philip Ker, PI Financial More >

"BAR's Grasset nickel discovery is on its way to becoming a world-class asset." (3/2/15) Balmoral Resources Ltd. - The Gold Report Interview with Philip Ker More >

"The recently announced reserve calculation for Midas was a fantastic milestone for KDX." (3/2/15) Klondex Mines Ltd. - The Gold Report Interview with Philip Ker More >

"Ana Paula is a very attractive project and a good bolt-on asset for TMM to possess and develop." (3/2/15) Timmins Gold Corp. - The Gold Report Interview with Philip Ker More >

"We are increasing our target price for KDX." (2/24/15) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"Ana Paula could yield ~170% growth to TMM's production profile." (2/18/15) Timmins Gold Corp. - Philip Ker, PI Financial More >

"KDX's Fire Creek has blue-sky potential to grow beyond the updated resource." (1/30/15) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"Progress on Caballo Blanco's permitting would reduce TMM's risk." (1/27/15) Timmins Gold Corp. - Philip Ker, PI Financial More >

"We are raising our target price for KDX." (1/20/15) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"MAG is well positioned to meet funding requirements for the development of Juanicipio." (1/6/15) MAG Silver Corp. - Philip Ker, PI Financial More >

"Our best performing precious metals mining top pick for Q4/15 was KDX." (1/6/15) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"TMM plans to advance Caballo Blanco into construction." (1/6/15) Timmins Gold Corp. - Philip Ker, PI Financial More >

"KTN confirmed broader mineralization over the breccia at La Negra." (11/26/14) Kootenay Silver Inc. - Philip Ker, PI Financial More >

"SVL's Q3/14 net income of $3.6M was better than our $2.2M estimate." (11/13/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"KDX provides investors with a low-cost, expanding operation." (11/13/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"TMM generated positive net income despite low gold prices and record rainfall." (10/29/14) Timmins Gold Corp. - Philip Ker, PI Financial More >

"KDX announced a strong beat for Q3/14 production." (10/28/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"TMM's recovery rates of 74% in Q3/14 beat our expectation of 68%." (10/17/14) Timmins Gold Corp. - Philip Ker, PI Financial More >

"KTN confirmed a significant silver discovery was made at La Negra." (10/16/14) Kootenay Silver Inc. - Philip Ker, PI Financial More >

"SVL is a compelling investment with low costs in a weakened metal price environment." (10/15/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"KDX announced an increase in grade and in situ ounces at Midas." (10/2/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"We continue to remain positive on SVL's Santa Elena operation." (10/2/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"SVL is evaluating re-opening Santa Elena's pit and is taking tenders." (9/26/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"KDX's drilling will amass ~240,000 ft over the next 18 months." (9/5/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"SVL's drill results showed intercepts with good widths and grades." (9/4/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"Its Grasset project is rapidly driving value for BAR's share price." (8/29/14) Balmoral Resources Ltd. - Philip Ker, PI Financial More >

"SVL had a successful Q2/14 and we expect continued production growth to come." (8/14/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"KDX announced positive assay results from its initial drifting along the Hui Wu vein." (8/5/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"KDX realized excellent average widths of 4.2 ft on the Karen vein." (7/30/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"TMM's San Francisco mine is running smoothly and efficiently." (7/29/14) Timmins Gold Corp. - Philip Ker, PI Financial More >

"We expect consistent growth from SVL." (7/18/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"KDX had strong sales and production in Q2/14, both of which beat our projections." (7/16/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"The CA$14M financing provides KDX with a security blanket to support initiatives." (7/15/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"TMM's positive operations are leading to free cash flow." (7/10/14) Timmins Gold Corp. - Philip Ker, PI Financial More >

"MAG's new source of cash allows it to be financially comfortable for a while." (7/7/14) MAG Silver Corp. - Philip Ker, PI Financial More >

"KDX's Fire Creek project has significant exploration potential." (7/4/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"SVL's new 3 Ktpd mill is progressing on time and on budget." (6/18/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"CMM's $5M bought-deal financing should support the required capital to further advance the Castle Mountain Mine feasibility study." (6/11/14) NewCastle Gold Ltd. - Philip Ker, PI Financial More >

"TMM announced a $5M regional exploration program at San Francisco." (5/29/14) Timmins Gold Corp. - Philip Ker, PI Financial More >

"MAG's increased tonnage at Juanicipio provides additional upside." (5/28/14) MAG Silver Corp. - Philip Ker, PI Financial More >

"KDX beat our gold and silver recovery projections and made progress with the Midas mill in just five weeks." (5/15/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"SVL's low cash costs contributed $6.6M to Q1/14 operating cash flow." (5/15/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"The commissioning of SVL's Santa Elena mill proves management's credibility and level of execution." (5/5/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"A considerable increase to the NPV of KDX's Fire Creek is likely." (5/5/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"KDX's robust economics at Fire Creek position the company nicely for growth." (5/1/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"TMM prereleased Q1/14 record gold production and sales results." (4/30/14) Timmins Gold Corp. - Philip Ker, PI Financial More >

"CMM delivered positive economics on its flagship project in California." (4/25/14) NewCastle Gold Ltd. - Philip Ker, PI Financial More >

"The in-situ resource and in-hand, approved operating permits make CMM an attractive takeover candidate." (4/16/14) NewCastle Gold Ltd. - Philip Ker, PI Financial More >

"We are confident SVL can attain the higher end of guidance in 2014." (4/15/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"TMM announced record Q1/14 production, a beat to our target." (4/9/14) Timmins Gold Corp. - Philip Ker, PI Financial More >

"SVL can more rapidly develop the underground at Santa Elena." (4/7/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"KDX has been one of the sector's top performers in Q1/14." (4/3/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"The commissioning of SVL's mill is expected in early April." (4/1/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"We expect positive operating results from SVL going forward." (3/19/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"MAG has significant potential to make additional discoveries on the Juanicipio JV land package." (3/19/14) MAG Silver Corp. - Philip Ker, PI Financial More >

"TMM generated higher-than-expected free cash flow in Q4/13." (3/7/14) Timmins Gold Corp. - Philip Ker, PI Financial More >

"We continue to favor accumulating shares of KDX." (3/3/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"TMM's recently closed financing allows it to significantly strengthen its balance sheet." (2/13/14) Timmins Gold Corp. - Philip Ker, PI Financial More >

"MAG's Juanicipio will benefit from Fresnillo as the project operator." (2/11/14) MAG Silver Corp. - Philip Ker, PI Financial More >

"The Midas mine acquisition makes KDX a bona fide producer with great potential." (1/23/14) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"SVL announced stellar Q4/13 silver production from Santa Elena." (1/16/14) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"TMM's record production at San Francisco beat our projections." (1/13/14) Timmins Gold Corp. - Philip Ker, PI Financial More >

"We are initiating coverage of KDX; we view this compelling deposit and experienced management team as a must-have in any mining-focused portfolio." (11/22/13) Klondex Mines Ltd. - Philip Ker, PI Financial More >

"TMM's new reserve/resource estimate is a 43% increase in contained gold." (11/6/13) Timmins Gold Corp. - Philip Ker, PI Financial More >

"We see good value in SVL's La Joya as it continues to advance." (10/22/13) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"SVL announced record silver production from Santa Elena for Q3/13." (10/15/13) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"Record production during Q3/13 is a good sign TMM's San Francisco mine is moving in a positive direction." (10/10/13) Timmins Gold Corp. - Philip Ker, PI Financial More >

"SVL is our top pick for Q4/13." (10/3/13) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

"The scale of SVB's Sierra Mojada makes it a perfect candidate for M&A activity." (9/30/13) Silver Bull Resources Inc. - Philip Ker, PI Financial More >

"We are initiating coverage of MAG with a Buy recommendation." (9/6/13) MAG Silver Corp. - Philip Ker, PI Financial More >

"SVL identified a new zone at Santa Elena named Tortuga." (9/5/13) SilverCrest Mines Inc. - Philip Ker, PI Financial More >

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