Highlights from the 2015 Metals Investor Forum

The event was put on by Gwen Preston of Resource Maven, Brien Lundin of the Gold Newsletter, Eric Coffin of Hard Rock Analyst and John Kaiser of Kaiser Research.

All four newsletter writers gave interesting talks on the broader market. Those were followed by two or three short presentations from companies featured in one or more of the writers’ newsletters.

Companies at the event included:

• Pilot Gold (TSX:PLG)
• Kaminak Gold (TSXV:KAM)
• First Mining Finance (TSXV:FF)
• Balmoral Resources (TSX:BAR)
• Fission 3.0 (TSXV:FUU)
• Pure Gold Mining (TSXV:PGM)
• Lion One Metals (TSXV:LIO)
• GoldQuest Mining (TSXV:GQC)
• Excelsior Mining (TSXV:MIN)
• Sabina Gold and Silver (TSX:SBB)
• InZinc Mining (TSXV:IZN)

Here are a few highlights from some of the presentations at the Metals Investor Forum:

• Be demanding: Preston stressed that even though she believes we’re at the bottom of the market, investors still need to be choosy when it comes to making picks. “It’s not easy, necessarily, to choose the best of the best,” she said, “so make sure you know what you’re looking for.” Preston has a long list of requirements for explorers and developers, including cash in the bank, security of tenure and a plan that goes beyond the next drill hole.

• A scientific approach to surfing: Those who’ve visited Pilot Gold’s website may have wondered about the surfer in the background. According to VP of Corporate Affairs Patrick Reid, the idea of taking a scientific approach to finding the best waves is a metaphor for Pilot’s scientific approach to exploration. Preston described the team at Pilot as “a group that has done it before” and is now “doing it again” — in that light, the metaphor seems appropriate.

• High-grade heap leach: Kaminak CEO Eira Thomas reiterated that the company’s Coffee gold project in Canada’s Yukon is set to be one of the highest-grade heap-leach gold projects in the world once it’s in production.

• Nature’s candy shop: Balmoral CEO Darin Wagner called Quebec’s Abitibi Greenstone Belt “nature’s candy shop.” Balmoral’s Grasset nickel discovery and Martiniere gold property are in the region. Lundin praised the company’s exploration success, stating, “they had a [drill] result the other day that was one of the best that I’ve ever seen in this industry.”

• Past mistakes: Brent Cook of Exploration Insights moderated a panel to finish up the forum, and he asked all four newsletter writers about their biggest investment mistakes. For Lundin, it was betting on legal outcomes for companies, while for Preston, it was forgetting about the importance of an “entry point” and jumping in due to fear of “missing the ride.” Cook stated that one of his biggest issues was holding a stock too long after mistakes had been made at a company.

• Top picks: Cook also asked each newsletter writer to name a top pick out of the companies at the Metals Investor Forum. Coffin picked Lion One, which he owns (and which just released a PEA for its Tuvatu gold project in Fiji), Kaiser found Sabina to be the most intriguing and Cook picked Pilot Gold, which he currently owns. Lundin and Preston said they wouldn’t want to single out any one company, but that if forced, they would pick Kaminak. Both newsletter writers own shares in the company.

Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article. 

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