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  • Real Gold Explorers Take No Prisoners Says Thibaut Lepouttre

    Gold-tracker Thibaut Lepouttre treks the world hunting for solid gold mines and companies with the guts to dig for riches. The editor of Caesars Report and Sprout Money tells The Gold Report why the price of gold is moving sideways for the moment. Don't be fooled by cowardly gold bears, says Lepouttre; invest in muddy, muscled, bull-headed explorers with noses tuned to sniffing out the purest form of value.

    The Gold Report: In an interview with The Gold Report in April, you predicted that gold will continue to trade "sideways" between $1,200 and $1,410 an ounce [$1,410/oz]. That is exactly what happened! Why?

    Thibaut Lepouttre: The problem was the lack of catalysts. Nobody was really worried about war in Ukraine, or the Federal Reserve's reduction of quantitative easing [QE]. When the market is not at risk of collapsing, gold's appeal as a safe-haven investment fades. And with no inflation on the horizon, gold sours as a hedge against rising prices.

    TGR: Is the drop in the price of oil affecting gold?

    TL: Gold mining companies that depend on diesel generated power stations can benefit from a falling oil price, but there is no real direct correlation between the price of oil and the price of gold anymore.

    TGR: Why did gold drop in October and November?

    TL: Some people point at the Fed's decision to reduce quantitative easing, but that is bogus thinking. The gold price did not start to slide until 36 hours after the Fed's decision. I am not a conspiracy theorist, but the temporary drop could have been an orchestrated move to make the weak hands sell. Just a few weeks later, we were back up above the support level of $1,180/oz.

    TGR: When you say orchestrated move, who would you be pointing at?

    TL: The country that was positioned to benefit the most from a falling gold price was China. Not long ago, a person who works for one of China's biggest gold companies said that when gold trades below $1,150/oz after QE ends, there will be M&A activity from the Chinese in the gold market. What did we see? We saw the quantitative easing program with the Federal Reserve stop and gold slid to $1,150/oz. Go figure.

    TGR: Where is the gold price headed in 2015?

    TL: The two main gold price drivers are inflation and market panic. Right now, investors are falling over themselves to buy stock. The European Central Bank and the Bank of Japan are pumping ridiculous amounts of money into the financial system. The main issue is the velocity of money, which is currently at a multidecade low. The higher the velocity of money, the higher the inflation rate if the money supply decreases at a slower rate.

    The real problem here is that the money supply is increasing, but because the velocity of money is decreasing, no inflation is being created. When the velocity of money returns to the average velocity of the past 30-40 years, the inflation targets proposed by the European and Japanese central banks will be underwater. We are all walking on thin ice with monetary policy.

    TGR: Do you have a timeframe on the ice cracking?

    TL: Sooner rather than later; Japan is playing a very dangerous game. It injects $700 billion a year into the financial system. That amounts to 12% of Japan's GDP. Compare that to the United States, which was pumping $1.02 trillion a year into the economy: 6.3% of its GDP. Japan's quantitative easing program is twice as large as the American program. If the velocity of money spirals back up, it will be very difficult for Japan to reduce its money supply. Inflation will rise like a rocket.

    TGR: What gold juniors do you favor for the coming period?

    TL: Almaden Minerals Ltd. (NYSEMKT:AAU) has proposed spinning off a few of its early-stage exploration properties. It might be a smart move for Almaden to delay, actually. Spinning off properties in the current market might not be value accretive. Nonetheless, Almaden's Tuligtic project in Mexico has an updated preliminary economic assessment [PEA] calling for a 30,000 ton per day [30 Ktpd] operation worth between $151-260 million [$151-260M]. Once inflation pounds the markets and gold will be attractive again, Tuligtic will be in the spotlight.

    TGR: Why did Almaden's stock price take a hit last year?

    TL: The market views Almaden as still in the PEA stage. Production is four or five years away. The market is understandably a bit wary of exploration stories right now. That will change-gold is not going away! Quite a few juniors are trading at bargain prices.

    TGR: What about the Carlin Trend in Nevada?

    TL: In the Carlin Trend, we at Sprout Money like Premier Gold Mines Ltd.'s (OTCPK:PIRGF) [PG:TSX] Cove project. I am a bit more excited by Premier's Trans-Canada project, because it is more advanced than the Cove. But the Cove mine has a lot of high-grade potential at depth. Premier has also discovered silver-lead-zinc mineralization. The company has more than $50M in working capital. I expect Premier's managers to spend quite a bit of cash developing the Cove project in 2015, getting ready for an impressive PEA debut.

    On the other hand, Premier's Trans-Canada project should release a feasibility study in the second quarter of 2015. The mine is partly open pit, partially underground. It could be in play in the next year, so keep it in sight.

    TGR: It certainly sounds as if gold exploration is not dead, Thibaut. These companies all seem to be rather well positioned for a rebound in gold.

    TL: Try to pick companies with cash in the bank, or cash-attracting managers. Premier Gold has over $50M in working capital.

    TGR: Thanks for your time, Thibaut.

    This interview was conducted by Peter Byrne of The Gold Report and can be read in its entirety here.

    Thibaut Lepouttre is the editor of the Caesars Report, a newsletter and mining portal based in Belgium that covers several junior mining companies with a special focus on precious metals and base metals. More recently he also became the editor of Sprout Money, a publication focusing on companies in the precious metals sector. Lepouttre has a Bachelor of Law degree and two economics masters degrees that have forged his analytical approach to the mining sector. Considered a number cruncher, Lepouttre focuses on the valuations of companies and is consistently on the lookout for the next undervalued mining company.

    Want to read more Gold Report interviews like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent interviews with industry analysts and commentators, visit our Streetwise Interviews page.

    DISCLOSURE:
    1) Peter Byrne conducted this interview for Streetwise Reports LLC, publisher of The Gold Report, The Energy Report, The Life Sciences Report and The Mining Report, and provides services to Streetwise Reports as an independent contractor. He or his family own shares of the following companies mentioned in this interview: None.
    2) The following companies mentioned in the interview are sponsors of Streetwise Reports: Almaden Minerals Ltd. and Premier Gold Mines Ltd. The companies mentioned in this interview were not involved in any aspect of the interview preparation or post-interview editing so the expert could speak independently about the sector. Streetwise Reports does not accept stock in exchange for its services.
    3) Thibaut Lepouttre: I own, or my family owns, shares of the following companies mentioned in this interview: None. I personally am, or my family is, paid by the following companies mentioned in this interview: None. Caesar Holdings has a financial relationship with the following companies mentioned in this interview: None. Sprout Money does not have a financial relationship with any of the companies mentioned. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I determined and had final say over which companies would be included in the interview based on my research, understanding of the sector and interview theme. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
    4) Interviews are edited for clarity. Streetwise Reports does not make editorial comments or change experts' statements without their consent.
    5) The interview does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer.

    6) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview until after it publishes.

    Streetwise - The Gold Report is Copyright © 2014 by Streetwise Reports LLC. All rights are reserved. Streetwise Reports LLC hereby grants an unrestricted license to use or disseminate this copyrighted material (i) only in whole (and always including this disclaimer), but (ii) never in part.

    Streetwise Reports LLC does not guarantee the accuracy or thoroughness of the information reported.

    Streetwise Reports LLC receives a fee from companies that are listed on the home page in the In This Issue section. Their sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.

    Participating companies provide the logos used in The Gold Report. These logos are trademarks and are the property of the individual companies.

    101 Second St., Suite 110
    Petaluma, CA 94952

    Tel.: (707) 981-8999
    Fax: (707) 981-8998
    Email: jluther@streetwisereports.com

    Jan 12 2:14 PM | Link | Comment!
  • Will The January Effect Give Gold And Silver Miners A Bounce?

    The January Effect, the surge that small-cap companies may experience at the beginning of the year, goes back some seven decades. What will 2015 bring? The Gold Report talked to some experts to find out what they are expecting in the early days of the new year and which companies might be in position to take advantage. Most experts were optimistic about a bump, but some had some very interesting ways to profit from it.

    Louis James, senior editor of the International Speculator, Casey Investment Alert and Conversations with Casey: We certainly had plenty of tax-loss selling, and I think most investors who know resources see the sector as close to bottom, so, yes, I do expect healthy January buying. I'd differentiate that by commodity, however, as bad economic news could push oil and copper further down, while pushing gold and silver up, and the January effect won't be enough to offset another sharp decline in industrial commodities.

    Low-cost producers are the obvious candidates for dollars returning to the market, followed by developers with great projects with positive economics already in hand. Grassroots exploration will have its day in the sun again, but not on the back of January buying; I expect we'll see that when the whole market gets frothy again.

    Adrian Day, founder of Adrian Day Asset Management and author of "Investing in Resources": The early part of the year [not necessarily exclusively January] is typically a seasonally strong period for resource and resource equities. Given the very oversold nature of most resource stocks, I would expect a bounce in the new year.

    This will affect the major mining companies, including possibly the oil stocks, though they have already bounced off their lows. In particular, it will affect stocks that have been subject to tax-loss selling. In the resource sector, that means pretty much everything! Given that resource stocks are one of the few sectors in the U.S. where investors have heavy losses, this selling has been particularly vicious this year. Even without significant new buying volumes, the removal of tax-driven selling will cause a bounce in these stocks.

    The particular stocks affected may depend to some extent on what happens to gold and other resources. Some companies are particularly leveraged, and if gold falls in the first week or two, then these stocks, even if they have been subject to heavy tax-loss selling, would not move as much as others.

    Having said that, stocks such as Almaden Minerals Ltd. (NYSEMKT:AAU) and Reservoir Minerals Inc. (OTCPK:RVRLF) [RMC:TSX.V] could be beneficiaries.

    One should note that year-end tax-loss selling followed by a January bounce is so widely known that the effect has become less pronounced, the January rally depending as much on other factors such as the resource prices themselves.

    Jeb Handwerger, founder of Gold Stock Trades: When stocks are beaten down as far as they are now, it is a sign that we are at a bottom and an uptick is coming. January-specifically the beginning of the month-is traditionally a good time for the natural resources space. After tax-loss selling in December, many buy back their stocks or use year-end bonuses to purchase. This is the time smart investors look for value situations.

    Small stocks tend to outperform the broader market. This year, producers may do well as the collapse in the oil price is a good thing for gold producers because that lower price tag for a key cost can impact the bottom line. Producers have been warning the market about a future supply shortfall as high grading uses up the best ore and less money has been invested in exploration. There will come a time where producers begin outperforming and the valuations go from bad to less bad until suddenly they are very good. That is also when we could start seeing a lot of mergers and acquisitions, which is a very good thing for investors.

    A rebound or even a stabilization in the gold price could surprise everyone as the dollar rally could turn into a gold rally. The fundamentals pushing the dollar up right now-flight to a safe haven-are the same ones that could support gold once people see that the dollar is overbought.

    I like Goldcorp Inc.'s (NYSE:GG) balance sheet. The Canadian mines could be a big benefit for the company.

    A lot of exciting names can be picked up right now for almost nothing because the market is irrational and our job is to stay rational and stay the course. This is the craziest time I can remember when it comes to valuations, but that all could change this month.

    Mike Kachanovsky, author of the Mexico Mike column in Investor's Digest of Canada: I am expecting the same uptick in stocks and metals in 2015 as we saw in 2014. Things have gotten so oversold that the price of gold and silver is below the price of production. That has to push it higher. Plus, the dollar rise does not seem in line with fundamentals for such strength. When it corrects, that will help silver and gold. In fact, I expect silver to outperform gold this year.

    If you are sitting on a pile of money right now, that is a good place to be. The large, established producers are at historic lows right now and have a very low risk level.

    I particularly like Silver Standard Resources Inc. (NASDAQ:SSRI). The company has been around a long time and management knows how to survive downturns. It is more leveraged to the silver price than any other company in terms of defined silver resources in the ground and its two operating mines are very low cost producers. Plus it has a healthy pipeline in production.

    Agnico Eagle Mines Ltd. (NYSE:AEM) is another one that has been around and knows how to survive. It is highly diversified with production on several continents. This is a company that knows how to develop new mines efficiently and is positioned to acquire promising companies in 2015.

    Roger Wiegand, author of Trader Tracks: We continue to be upbeat. The stock market will continue to rise at least into the first quarter with the normal ups and downs. Small caps are just more volatile and the healing process for the junior miners will be difficult, but I see signs of stocks basing out.

    Gold, itself is in a trading range. To really break out, it will have to get past $1,450 an ounce [$1,450/oz]. Silver may not go above $20/oz until the fall. When that happens, the seniors will be the first group to take off. Companies like Goldcorp and Hecla Mining Co. (NYSE:HL) will move because the funds will buy into those. The juniors will take longer, but those days will come. I would look for ones with reserves in the ground and operating capital to cover a couple of years, particularly ones sitting next to big operations that may be in a position to buy them out. When stocks have been knocked down this low, the step back can be stunning.

    Thom Calandra, author of The Calandra Report: January, as you know, can have two faces, or more. That is more than mythological.

    In recent years, the so-called January Effect that supposedly lifts small company stocks made brief appearances, then disappeared. When I say small, I mean very small, as in companies with market caps worth below $500 million.

    The new face of January is now lacking a pronounced lift for small stocks. The main culprit is probably because everyone in North America, in Europe and in the UK, among other jurisdictions, are trading or managing the bulk of their money in retirement accounts. Thus, no reason to recapture the equities investors might have sold in November or December to capture tax-loss advantages.

    Probably the one potential beneficiary of any fresh sweep into a sector in January is biomedical and healthcare stocks. That is one face of January that continues in recent years. The biomedicals are getting more approvals per capita in North America than ever before, regarding FDA-approved pharmaceuticals.

    As for resource equities, I see little evidence that January is kinder than other months of the year-in recent years, definitely since 2011. Maybe with the decline of resource stocks since 2011, January can be argued to have a less devastating effect on the metals equities than during other months.

    If there is one thing that bears watching this January, it is the tremendous rise of the dollar-the U.S. dollar is sending all currencies to 7- and, in some cases, 10-year lows. Gold's buying power is keeping pace, as bullion is holding its ground. That means dollar-denominated gold holds a lot of buying power versus other currencies.

    The decline of most currencies against the dollar also helps miners and prospectors that report their expenses in other currencies. That is good.

    Plus, as investors with dollars, we get more buying power when we purchase Canada, U.S., Japan and other listed resource stocks.

    This interview was conducted by JT Long of The Gold Report and can be read in its entirety here.

    Find out what experts are saying about the January Effect on other commodities in The Mining Report.

    Want to read more Gold Report interviews like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see a list of recent interviews with industry analysts and commentators, visit our Streetwise Interviews page.

    DISCLOSURE:
    1) JT Long conducted this interview for Streetwise Reports LLC, publisher of The Gold Report, The Energy Report, The Life Sciences Report and The Mining Report, and provides services to Streetwise Reports as an employee. She owns, or her family owns, shares of the following companies mentioned in this interview: None.
    2) The following companies mentioned in the interview are sponsors of Streetwise Reports: Almaden Minerals Ltd. Goldcorp Inc. is not affiliated with Streetwise Reports. The companies mentioned in this interview were not involved in any aspect of the interview preparation or post-interview editing so the expert could speak independently about the sector. Streetwise Reports does not accept stock in exchange for its services.
    3) Mike Kachanovsky: I own, or my family owns, shares of the following companies mentioned in this interview: Silver Standard Resources Inc. and Agnico Eagle Mines Ltd. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I determined and had final say over which companies would be included in the interview based on my research, understanding of the sector and interview theme. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
    4) Jeb Handwerger: I own, or my family owns, shares of the following companies mentioned in this interview: None. I personally am, or my family is, paid by the following companies mentioned in this interview: None. My company has a financial relationship with the following companies mentioned in this interview as they are sponsors on my website: None. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I determined and had final say over which companies would be included in the interview based on my research, understanding of the sector and interview theme. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
    5) Adrian Day: I own, or my family owns, shares of the following companies mentioned in this interview: Reservoir Minerals Inc. I personally am, or my family is, paid by the following companies mentioned in this interview: None. My company has a financial relationship with the following companies mentioned in this interview: None. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I determined and had final say over which companies would be included in the interview based on my research, understanding of the sector and interview theme. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
    6) Roger Wiegand: I own, or my family owns, shares of the following companies mentioned in this interview: None. I personally am, or my family is, paid by the following companies mentioned in this interview: None. My company has a financial relationship with the following companies mentioned in this interview: None. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I determined and had final say over which companies would be included in the interview based on my research, understanding of the sector and interview theme. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
    7) Thom Calandra: I own, or my family owns, shares of the following companies mentioned in this interview: None. I personally am, or my family is, paid by the following companies mentioned in this interview: None. My company has a financial relationship with the following companies mentioned in this interview: None. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I determined and had final say over which companies would be included in the interview based on my research, understanding of the sector and interview theme. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
    8) Interviews are edited for clarity. Streetwise Reports does not make editorial comments or change experts' statements without their consent.
    9) The interview does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer.

    10) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview until after it publishes.

    Streetwise - The Gold Report is Copyright © 2014 by Streetwise Reports LLC. All rights are reserved. Streetwise Reports LLC hereby grants an unrestricted license to use or disseminate this copyrighted material (i) only in whole (and always including this disclaimer), but (ii) never in part.

    Streetwise Reports LLC does not guarantee the accuracy or thoroughness of the information reported.

    Streetwise Reports LLC receives a fee from companies that are listed on the home page in the In This Issue section. Their sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.

    Participating companies provide the logos used in The Gold Report. These logos are trademarks and are the property of the individual companies.

    101 Second St., Suite 110
    Petaluma, CA 94952

    Tel.: (707) 981-8999
    Fax: (707) 981-8998
    Email: jluther@streetwisereports.com

    Jan 07 3:27 PM | Link | Comment!
  • Are You Ready For The January Effect?

    As far back as 1942, economists have noted that small-cap companies in particular tend to surge at the beginning of the year in a cycle known as the January Effect. After the year we have seen in the natural resources space, The Mining Report checked in with sector experts to find out whether they are expecting this traditional gift, how they are preparing for it and what companies could benefit.

    Rick Mills, founder, Ahead of the Herd: There has been a general long-term downward trend in the resource sector. Junior resource companies have had the stuffing knocked out of them; many are oversold and ripe for a bounce.

    The January Effect is a calendar or seasonal-caused increase in the relative strength of small-cap stocks over large caps in late December and early January. This seasonal effect is mostly over by the end of the first full trading week in January and is not to be confused with the "January Barometer," an old market saw saying, "As goes the full month of January so goes the market for the year."

    The January Effect, as it pertains to the junior resource sector, is caused by both large and small individual investors [and institutional investors window dressing-dumping laggards so they won't show up in year-end reports] selling their stocks/rebalancing their portfolios starting in November and well into December to create a tax loss to offset capital gains.

    Smart investors and traders buy select stocks, starting as early as late November, through to the last day, or even a day or two beyond, of eligible tax-loss selling for the year.

    A great way to leverage any uptick in the uranium price is Uranerz Energy Corp. (NYSEMKT:URZ). [Editor's Note: This interview was conducted on Friday, Jan. 2, 2015. On Monday, Jan. 5, Uranerz announced an all-share buyout by Energy Fuels Inc. (OTC:UUUU)].

    I believe in commodities. If you do as well, then these companies are worth putting on your radar screen.

    Steve Palmer, founding partner, president and chief investment officer of AlphaNorth Asset Management: December, January and February are historically the best performing months of the year. There is no reason to believe the current situation will be any different. The TSX Venture index has been under severe pressure over the past few months, which has taken it down 30+% since August. It has recently been below the lows of the 2008 financial crisis despite an economic environment that is far better. I believe the current risk/reward is highly skewed to the upside for the TSX.V.

    Angelo Damaskos, founder and CEO of Sector Investment Managers Ltd.: We generally do not trade short-term technical volatility in markets but prefer to focus on fundamental value that is likely to be rerated over the medium term. Nevertheless, given the extreme selling conditions we have experienced in the last four months of 2014 in the energy space, there is a higher probability of a sharp rebound early in 2015. Historical review of previous corrections before the year-end in oil-related shares shows a seasonal pattern of recovery in the first quarter of the following year: The winter double-bottom pattern was observed in 2008-2009, 2006-2007, 2001-2002, 1998-1999, and 1993-1994.

    We, therefore, advise our clients to increase their allocations to mid-cap oil producers for three reasons:

    1. Extreme adversity against oil shares has led to solid companies trading at Price/Cash Flow and Price/Net Asset Value multiples last seen in the 2008 meltdown;

    2. Bearish calls for the oil price dropping below $50/barrel [$50/bbl] are widespread; a contrarian investment view would support a rebound to above $60/bbl. Fundamentally, it is widely accepted that oil prices at $60/bbl are extremely damaging to supply from marginal fields and prolonged trading at this level would result in a lot of supply shut-ins, thus removing any supply overhang within 6-12 months; markets are likely to discount such change in supply with a 3-6 month lead;

    3. Large short-selling interest built up in the months of November and December that may be closed on first signs of rebound-mid-cap shares are likely to respond first, followed by small caps after a sustained rally.

    We believe, nevertheless, that investments should be focused on companies with strong production growth even at lower oil prices based on sustainable capital expenditure programs [primarily funded out of organic cash flow], lower average cost of production contributing to profits at current prices and strong balance sheets with low debt and fixed obligations. Examples of such companies include RMP Energy Inc. (OTCPK:OEXFF) [RMP:TSX], Advantage Oil and Gas Ltd. (NYSE:AAV) and Parex Resources Inc. (OTC:PARXF) [PXT:TSX.V].

    We are generally cautious/bearish on the overall markets as we feel global economic growth is likely to slow, impacting earnings expectations. Central banks of both developed and emerging economies may raise interest rates, thus further slowing growth and negatively impacting equity valuations. Resources sectors have been sold off hard, so it is unlikely they would suffer further in correlation to a general market correction.

    This interview was conducted by JT Long of The Mining Report and can be read in its entirety here.

    Look for an article about the January Effect on precious metals in The Gold Report on Wednesday, Jan. 7.

    Want to read more Mining Report articles like this? Sign up for our free e-newsletter, and you'll learn when new articles have been published. To see recent interviews with industry analysts and commentators, visit The Mining Report home page.

    DISCLOSURE:
    1) JT Long conducted this interview for Streetwise Reports LLC, publisher of The Gold Report, The Energy Report, The Life Sciences Report and The Mining Report, and provides services to Streetwise Reports as an employee. She owns, or her family owns, shares of the following companies mentioned in this interview: None.
    2) The following companies mentioned in the interview are sponsors of Streetwise Reports: Uranerz Energy Corp. and Energy Fuels Inc. The companies mentioned in this interview were not involved in any aspect of the interview preparation or post-interview editing so the expert could speak independently about the sector. Streetwise Reports does not accept stock in exchange for its services.
    3) Rick Mills: I own, or my family owns, shares of the following companies mentioned in this interview: None. I personally am, or my family is, paid by the following companies mentioned in this interview: None. My company has a financial relationship with the following companies mentioned in this interview: None. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I determined and had final say over which companies would be included in the interview based on my research, understanding of the sector and interview theme. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
    4) Steve Palmer: I own, or my family owns, shares of the following companies mentioned in this interview: None. I personally am, or my family is, paid by the following companies mentioned in this interview: None. AlphaNorth Funds own all of the companies mentioned. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I determined and had final say over which companies would be included in the interview based on my research, understanding of the sector and interview theme. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
    5) Angelo Damaskos: I own, or my family owns, shares of the following companies mentioned in this interview: None. I personally am, or my family is, paid by the following companies mentioned in this interview: None. Funds I advise hold shares in RMP Energy Inc., Advantage Oil and Gas Ltd. and Parex Resources Inc. I was not paid by Streetwise Reports for participating in this interview. Comments and opinions expressed are my own comments and opinions. I determined and had final say over which companies would be included in the interview based on my research, understanding of the sector and interview theme. I had the opportunity to review the interview for accuracy as of the date of the interview and am responsible for the content of the interview.
    6) Interviews are edited for clarity. Streetwise Reports does not make editorial comments or change experts' statements without their consent.
    7) The interview does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer.

    8) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their families are prohibited from making purchases and/or sales of those securities in the open market or otherwise during the up-to-four-week interval from the time of the interview until after it publishes.

    Streetwise - The Mining Report is Copyright © 2014 by Streetwise Reports LLC. All rights are reserved. Streetwise Reports LLC hereby grants an unrestricted license to use or disseminate this copyrighted material (i) only in whole (and always including this disclaimer), but (ii) never in part.

    Streetwise Reports LLC does not guarantee the accuracy or thoroughness of the information reported.

    Streetwise Reports LLC receives a fee from companies that are listed on the home page in the In This Issue section. Their sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.

    Participating companies provide the logos used in The Mining Report. These logos are trademarks and are the property of the individual companies.

    101 Second St., Suite 110
    Petaluma, CA 94952

    Tel.: (707) 981-8999
    Fax: (707) 981-8998
    Email: jluther@streetwisereports.com

    Jan 06 2:41 PM | Link | Comment!
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  • $SRXLF Announces Plans to Exhibit at the 2015 Vancouver Resource Investment Conference Booth 1834. Read More: http://ow.ly/HsfJg
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