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Derek Macpherson

M Partners

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Derek Macpherson is a mining analyst at M Partners; before joining M Partners he worked in mining research for a bank-owned investment dealer. Prior to entering capital markets, MacPherson spent six years working as a metallurgist. Macpherson has a Bachelor of Engineering and Management in materials science and a finance-focused MBA.




Recent Interviews

Derek Macpherson: Is It a Love Affair or a Tryst? (3/12/14) Investors have again begun flirting with the junior mining sector. Will it lead to a love affair or is it just a tryst? Derek Macpherson, a mining analyst with M Partners, believes it is still too early to be taking on high-risk, high-leverage names. In this interview with The Gold Report, he advises investors to carefully choose low-risk companies, even in this early stage of a rising gold price environment, and names a handful that investors could fall in love with.

Three Essentials to Look for in Junior Mining Equities: Derek Macpherson (10/21/13) Underappreciated companies and companies with management teams that have disappointed in the past can be opportunities to buy, not sell, says Derek Macpherson of M Partners. Don't be dazzled by flashy drill results, he advises. In this interview with The Gold Report, Macpherson says that investors are better to look for junior explorers with long-term vision, high grades and simple operations in good jurisdictions, and names eight companies that make the grade.

Recent Quotes

"NUG now is funded through the 70% earn-in of its Iceberg project." (8/19/14) NuLegacy Gold Corporation - Derek Macpherson, M Partners Moreá>

"KDX generated free cash flow in Q2/14, which sets it apart from peers." (8/13/14) Klondex Mines Ltd. - Derek Macpherson, M Partners Moreá>

"TMM's lower-than-expected cash costs offset one-time general and administrative expenses." (7/30/14) Timmins Gold Corp. - Derek Macpherson, M Partners Moreá>

"TMM's cash costs came in below expectations." (7/29/14) Timmins Gold Corp. - Derek Macpherson, M Partners Moreá>

"We expect MLN to see further multiple expansion." (7/25/14) Marlin Gold Mining Ltd. - Derek Macpherson, M Partners Moreá>

"ICG's new drill results suggest that the resource is likely to grow." (7/16/14) Integra Gold Corp. - Derek Macpherson, M Partners Moreá>

"TV is positioned as the next mid-tier base metal producer with significant leverage to a positive zinc market." (7/15/14) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"ICG has the balance sheet strength to continue exploring its land package aggressively." (7/15/14) Integra Gold Corp. - Derek Macpherson, M Partners Moreá>

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"MLN's new streaming agreement should lead to additional free cash flow generation." (7/14/14) Marlin Gold Mining Ltd. - Derek Macpherson, M Partners Moreá>

"TMM has operational experience and solid production results." (7/10/14) Timmins Gold Corp. - Derek Macpherson, M Partners Moreá>

"TMM has operational experience, low leverage and an improving valuation." (7/10/14) Timmins Gold Corp. - Derek Macpherson, M Partners Moreá>

"TV's sale of the non-core Tingo asset provides $13.5M and balance sheet flexibility." (7/3/14) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"We are impressed with KDX's Midas mill." (6/30/14) Klondex Mines Ltd. - Derek Macpherson, M Partners Moreá>

"Construction and rehabilitation at TV's Caribou appear to be on track." (6/27/14) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"Positive drill results identified new targets at TV's Stratmat." (6/20/14) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"TV's drill results from Stratmat were generally positive." (6/20/14) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"We are maintaining our Buy rating for MLN." (6/10/14) Marlin Gold Mining Ltd. - Derek Macpherson, M Partners Moreá>

"KDX continues to move Fire Creek toward full production." (6/10/14) Klondex Mines Ltd. - Derek Macpherson, M Partners Moreá>

"TV provides significant leverage to a favorable zinc environment." (6/4/14) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"We are maintaining our Buy recommendation on TMM." (6/2/14) Timmins Gold Corp. - Derek Macpherson, M Partners Moreá>

"TV will be the only midtier producer with significant zinc leverage." (5/28/14) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"KDX's Fire Creek has exceptional grades, strong management and a friendly jurisdiction." (5/27/14) Klondex Mines Ltd. - Derek Macpherson interview with Resource Investing News Moreá>

"ICG's drill results further highlight Lamaque's high-grade nature." (5/22/14) Integra Gold Corp. - Derek Macpherson, M Partners Moreá>

"KDX's Fire Creek drill results continue to imply likely resource growth." (5/22/14) Klondex Mines Ltd. - Derek Macpherson, M Partners Moreá>

"TV reported better-than-expected Q1/14 revenue." (5/20/14) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"We are encouraged by TV's operational execution." (5/16/14) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"Q1/14 grades at KDX's Fire Creek were 71.6% higher than our estimate." (5/15/14) Klondex Mines Ltd. - Derek Macpherson, M Partners Moreá>

"TV's Caribou PEA is generally in line with our expectations." (5/14/14) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"A deep drill hole from TV's Caribou project shows promise." (5/6/14) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"The Karen vein at KDX's Fire Creek could add ~110 Koz goldŚa 15% increase." (5/5/14) Klondex Mines Ltd. - Derek Macpherson, M Partners Moreá>

"KDX's PEA for Fire Creek is both positive and an important derisking step." (4/30/14) Klondex Mines Ltd. - Derek Macpherson, M Partners Moreá>

"We expect the economics of KDX's upcoming Fire Creek PEA to be very robust." (4/23/14) Klondex Mines Ltd. - Derek Macpherson, M Partners Moreá>

"New ICG drill results came in ahead of current Triangle zone grades." (4/22/14) Integra Gold Corp. - Derek Macpherson, M Partners Moreá>

"We are initiating coverage on ICG with a Buy rating." (4/21/14) Integra Gold Corp. - Derek Macpherson, M Partners Moreá>

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

"TMM should see a second consecutive quarter of free cash flow." (4/9/14) Timmins Gold Corp. - Derek Macpherson, M Partners Moreá>

"As a high-grade gold producer with significant free cash flow, MLN can grow via acquisition or exploration." (3/12/14) Marlin Gold Mining Ltd. - The Gold Report Interview with Derek Macpherson Moreá>

"TV has material growth on the horizon." (3/12/14) Trevali Mining Corp. - The Gold Report Interview with Derek Macpherson Moreá>

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

"We like KDX for its exceptionally high-grade resource, strong management team and excellent jurisdiction." (3/12/14) Klondex Mines Ltd. - The Gold Report Interview with Derek Macpherson Moreá>

"Free cash flow begins as TMM's San Francisco has reached a steady state." (3/7/14) Timmins Gold Corp. - Derek Macpherson, M Partners Moreá>

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

"TV is positioned as the next midtier base metal producer with significant leverage to a favorable zinc market." (1/7/14) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"TV is positioning itself as the next midtier base metal producer with significant leverage to a favorable macro-environment for zinc." (10/29/13) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"ATY is making the rapid transition from being a base metal developer to a producer; it should be generating positive operating cash flow by year-end." (10/22/13) Atico Mining Corp. - The Gold Report Interview with Derek Macpherson Moreá>

"CXO has been hitting good results that moved the stock up, even through this summer's tough market." (10/22/13) Colorado Resources Ltd. - The Gold Report Interview with Derek Macpherson Moreá>

"KDX has high grades, low costs, a clean balance sheet and the ability to self-fund development going forward." (10/22/13) Klondex Mines Ltd. - The Gold Report Interview with Derek Macpherson Moreá>

"We like TMM for its low all-in cash costs; the stock should move up once its resource report comes out." (10/22/13) Timmins Gold Corp. - The Gold Report Interview with Derek Macpherson Moreá>

"With so few vehicles to play in zincĺs positive macro environment, TV could trade at a premium to its peers. It should be generating cash very soon." (10/22/13) Trevali Mining Corp. - The Gold Report Interview with Derek Macpherson Moreá>

"Today's drill results underscore TV's Santander's potential to expand." (10/21/13) Trevali Mining Corp. - Derek Macpherson, M Partners Moreá>

"KDX's ability to raise a meaningful amount of money in a challenging equity market highlights the quality of the project." (10/17/13) Klondex Mines Ltd. - Derek Macpherson, M Partners Moreá>

"We are encouraged as KDX continues on track toward guidance." (9/12/13) Klondex Mines Ltd. - Derek Macpherson, M Partners Moreá>

"The recent selloff of TMM offers a very attractive entry point." (9/11/13) Timmins Gold Corp. - Derek Macpherson, M Partners Moreá>

"KDX is uniquely positioned to organically fund the next stage of growth." (7/18/13) Klondex Mines Ltd. - Derek Macpherson, M Partners Moreá>

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