Top 100 Canadian Stocks with Highest Upside Potential Updated Apr 29, 2010

Top Canadian Stocks with Highest Upside Potential Updated Apr 29, 2010

RANKINGS: TOP 10 Lists; Tech Leaders; Large Cap; Dow 30; Chinese ADRs | FREE Newsletter

Below are the top Canadian stocks with highest upside potential, calculated as the difference between current price and Wall Street analysts' average target price.

Ranking | Company (Ticker) | Potential Upside
1 Tethys Petroleum Limited (TSE:TPL) 8060.2%
2 Crew Gold Corporation (TSE:CRU) 4900.0%
3 Lanesborough REIT (TSE:LRT.UN) 1637.7%
4 Kimber Resources, Inc. (TSE:KBR) 1293.5%
5 BioSyntech, Inc. (TSE:BSY) 445.5%
6 Continental Precious Minerals Inc (TSE:CZQ) 408.5%
7 Allon Therapeutics Inc. (TSE:NPC) 377.7%
8 Isotechnika Pharma Inc (TSE:ISA) 328.6%
9 Energy Fuels Inc. (TSE:EFR) 314.6%
10 Wall Financial Corporation (TSE:WFC) 270.7%
11 ProMetic Life Sciences Inc. (TSE:PLI) 270.4%
12 UEX Corporation (TSE:UEX) 250.0%
13 Hydrogenics Corporation (TSE:HYG) 241.1%
14 Commercial Solutions Inc. (TSE:CSA) 221.0%
15 Duluth Metals Limited (TSE:DM) 217.3%
16 Carpathian Gold Inc. (TSE:CPN) 212.5%
17 Rockwell Diamonds Inc. (CAN) (TSE:RDI) 207.7%
18 DiagnoCure Inc. (TSE:CUR) 205.1%
19 Powertech Uranium Corp. (TSE:PWE) 189.6%
20 Fortune Minerals Limited (TSE:FT) 182.9%
21 Protox Therapeutics Inc. (TSE:PRX) 175.4%
22 Strateco Resources Inc. (TSE:RSC) 170.5%
23 Apollo Gold Corporation (TSE:APG) 167.6%
24 Cyberplex Inc. (TSE:CX) 166.7%
25 Peregrine Metals Ltd. (TSE:PGM) 165.1%
26 Mega Uranium Ltd. (TSE:MGA) 158.9%
27 Intermap Technologies Corporation (TSE:IMP) 154.5%
28 Formation Metals Inc. (TSE:FCO) 154.0%
29 Warnex Inc. (TSE:WNX) 150.0%
30 Candente Copper Corp (TSE:DNT) 150.0%
31 Laramide Resources Ltd. (TSE:LAM) 137.6%
32 SemBiosys Genetics Inc. (TSE:SBS) 130.8%
33 Shore Gold, Inc. (TSE:SGF) 129.9%
34 Western Potash Corp. (TSE:WPX) 126.7%
35 Burcon NutraScience Corporation (TSE:BU) 126.0%
36 Linear Gold Corp (TSE:LRR) 125.5%
37 PolyMet Mining Corp. (TSE:POM) 122.3%
38 Phoscan Chemical Corp. (TSE:FOS) 122.2%
39 LAB Research Inc. (TSE:LRI) 122.2%
40 Intrinsyc Software International, Inc. (TSE:ICS) 121.0%
41 CIC Energy Corp. (TSE:ELC) 120.6%
42 Franconia Minerals Corporation (TSE:FRA) 119.3%
43 Global Alumina Corporation (TSE:GLA.U) 114.3%
44 South American Silver Corp. (TSE:SAC) 114.3%
45 Nautilus Minerals Inc. (TSE:NUS) 112.0%
46 Coro Mining Corp. (TSE:COP) 110.2%
47 Peregrine Diamonds Limited (TSE:PGD) 108.0%
48 HSE Integrated Ltd. (TSE:HSL) 106.5%
49 Magindustries Corp. (TSE:MAA) 106.2%
50 U.S. Geothermal Inc. (TSE:GTH) 105.7%
51 Questerre Energy Corp. (TSE:QEC) 104.1%
52 TSO3 Inc. (TSE:TOS) 102.1%
53 Wallbridge Mining Company Limited (TSE:WM) 100.0%
54 CryptoLogic Limited (TSE:CRY) 98.3%
55 Sulliden Exploration Inc. (TSE:SUE) 98.3%
56 Aeroquest International Limited (TSE:AQL) 96.4%
57 YM BioSciences Inc. (TSE:YM) 93.7%
58 Webtech Wireless Inc. (TSE:WEW) 93.4%
59 CriticalControl Solutions Corp (TSE:CCZ) 91.2%
60 Dynasty Metals & Mining, Inc. (TSE:DMM) 90.7%
61 Bennett Environmental Inc. (TSE:BEV) 90.0%
62 Resverlogix Corp. (TSE:RVX) 89.7%
63 Labrador Iron Mines Holdings Limited (TSE:LIM) 88.6%
64 Silver Bear Resources Inc. (TSE:SBR) 87.5%
65 La Mancha Resources, Inc. (TSE:LMA) 85.3%
66 Platmin Limited (TSE:PPN) 84.0%
67 Augusta Resource Corp. (TSE:AZC) 83.7%
68 ProSep Inc. (TSE:PRP) 83.3%
69 Divestco Inc. (TSE:DVT) 83.1%
70 Crocodile Gold Corp (TSE:CRK) 83.1%
71 Global Railway Industries Ltd. (TSE:GBI) 80.4%
72 Cangene Corporation (TSE:CNJ) 79.5%
73 Hemisphere GPS, Inc. (TSE:HEM) 78.8%
74 Baja Mining Corp. (TSE:BAJ) 78.6%
75 Enterra Energy Trust (TSE:ENT.UN) 77.5%
76 Pinetree Capital Ltd. (TSE:PNP) 76.6%
77 Clearwater Seafoods Income Fund (TSE:CLR.UN) 76.5%
78 Wireless Matrix Corporation (TSE:WRX) 76.0%
79 Cinch Energy Corp. (TSE:CNH) 75.8%
80 Bronco Energy Ltd (TSE:BCF) 72.4%
81 Angiotech Pharmaceuticals, Inc. (TSE:ANP) 72.4%
82 Pethealth Inc. (TSE:PTZ) 71.4%
83 Orbit Garant Drilling Inc. (TSE:OGD) 71.2%
84 BioteQ Environmental Technologies Inc. (TSE:BQE) 71.1%
85 Potash One Inc (TSE:KCL) 70.7%
86 Oncolytics Biotech Inc. (TSE:ONC) 70.4%
87 Ur-Energy Inc. (TSE:URE) 69.3%
88 Gold Wheaton Gold Corp (TSE:GLW) 67.5%
89 DragonWave, Inc. (TSE:DWI) 67.2%
90 Sure Energy Inc. (TSE:SHR) 66.7%
91 Carmanah Technologies Corporation (TSE:CMH) 66.7%
92 MGM Energy Corp. (TSE:MGX) 66.3%
93 Xtreme Coil Drilling Corp. (TSE:XDC) 65.5%
94 Aura Minerals Inc. (TSE:ORA) 64.9%
95 Minera Andes Inc. (TSE:MAI) 64.3%
96 Mercator Minerals, Ltd. (TSE:ML) 64.3%
97 Day4 Energy Inc. (TSE:DFE) 63.4%
98 Guestlogix Inc. (TSE:GXI) 62.9%
99 Etruscan Resources Inc. (TSE:EET) 60.3%
100 Dundee Corp. (TSE:DC.A) 59.3%

Technically Speaking Time To Buy YRI-T

Highlighting: Yamana Gold Inc. (Public, TSE:YRI)

The markets get battered and gold stocks rally. This was the theme of the day on Tuesday that saw Gold stocks rally to gains of as much as 2%. So I suppose you want a Gold play… well here it is. Yamana Gold Inc. gained just over 2% on the day as investors sought safety in Gold following the bottom falling out in equities. Wednesday brings upon earnings from Goldcorp and Barrick, so best bet is to wait for the morning earnings report to make your play.

Stocks were clobbered today, averaging losses of 2.29% on volumes over 30% higher than the day previous. Of the 1661 stocks analyzed, only 145 advanced, 1506 declined and the last 10 were dead even…or possibly just dead. Overbought levels have come way down, now only in the single digit percentage points according to stochastics and RSI. Small-Caps won the session yet again, losing the least amount of value at 2.32% on average. Mid-Caps and Large-Caps rounded out the losses at 2.39% and 2.68%, respectively. Bolstering the losses amongst the stocks analyzed were equities traded on the Toronto Stock Exchange, which only saw losses of 0.89%.

YAMANA GOLD INC COM NPV (YRI.TO) Seasonality Analysis has revealed that with a buy date of October 19 and a sell date of February 22, investors have benefited from a total return of 2732.96% over the last 10 years. This scenario has shown positive results in 8 of those periods. Conversely, the best return over the maximum number of positive periods reveals a buy date of December 3 and a sell date of February 22, producing a total return over the same 10-year range of 1795.55% with positive results in 10 of those periods. The buy and hold return for the past 10 years was 4.53%. Comments:

Yamana is rebounding from a significant support level at $10 after finding significant volume on Tuesday, floating the stock amongst the losses present in the market. With volatility increasing, Gold is being sought as a safe haven, however with earnings continuing to progress the ideal entry point at this level is all but certain. Two majors within this space, Goldcorp and Barrick, report on Wednesday, which may subject this stock to pressure if the earnings are not interpreted well. But for the most part, Gold and Gold related stocks are seen as a safe choice and poised to receive a little bit of strength after being ignored in the market upturn since February lows.

The stock faces a quick spurt coming off of Q1 earnings season in the month of May for gains reaching 10% on average. Will history repeat? The main period of strength for the equity is at year end for substantial returns over the period.

YAMANA GOLD INC COM NPV (YRI.TO) 10.59 + 0.21 (2.02%) Support 2 Support 1 Pivot Point Resistance 1 Resistance 2 10.19 10.39 10.54 10.74 10.89 Expected Short-Term Trading Range: 10.07 – 10.55 Support & Resistance Analysis Broke Lwr Resistance (1) MACD Analysis Negative/Increasing MACD MACD vs. Signal Above/Widening -0.032 RSI Analysis Bullish RSI Stochastic (Fast) Analysis Neutral 56.811 50-Day MA Analysis Above 50-Day MA – Crossover %K (fast) 200-Day MA Analysis Below 200-Day MA 78.824 Critical Level Analysis Broke Above Previous Trend

Retirees may be forced to keep risking investments

The turmoil in Greece, hot on the heels of the financial crisis and the tech wreck before, may have future retirees scurrying to the safety of fixed income again but investors should keep their focus squarely on growth to avoid outliving their portfolios, a new report argues.

"Retirees should keep a significant portion of their wealth allocated to risky assets, like stocks, in order to provide enough growth over the long run and avoid prematurely depleting their wealth," Kurt E. Reiman, a strategist at UBS AG said in a note to clients.

At retirement, investors have typically been taught to become more risk averse by reducing their exposure to equities and other growth assets in favour of fixed-income securities such as bonds. Indeed, a well-worn rule of thumb is to allocate your age in bonds. In other words, at 70 years of age, an investor should hold 70% bonds, and 30% equities.

But traditional cookie-cutter retirement approaches that recommend reduced risk for all may not do the trick anymore.

"I use it as starting point, but many portfolios need more growth in order for people to retire on their own terms these days," Adrian Mastracci, a portfolio manager at KCM Wealth Management Inc. in Vancouver, said.

According to Mr. Reiman, a variety of societal trends has rendered retirement as we know it a thing of the past. As a result, that is creating new financial objectives for investors that are much more personalized in nature compared with the largely shared retirement mindset of the past.

"Pension plans, both public and private, face imminent funding pressure because there are fewer people working and more people retiring," he said.

"Medical costs and spending on health care services are on the rise as well, which burdens government finances even further. At the same time, people are anticipating longer active lives, with some form of employment potentially a part of the picture."

Mr. Reiman said these trends are not happening in isolation, but instead are converging to alter how people perceive their relationship to their career and how they plan to pay for the time when their careers end.

Faced with growing pressures to meet their spending needs, wants and wishes, retirees are also dealing with increasing levels of uncertainty and complexity related to financial risks, such as market volatility and inflation.

To combat these challenges, he said more portfolio growth is needed. He recommended a portfolio that includes stocks, commodities or real estate, highlighting two strategies that offer growth, but also provide a degree of safety for investors.

The first is a laddered approach of short-term bonds maturing over the next five years, and an additional growth portfolio for the longer run. "The main advantage of this strategy is that investors can weather storms on the financial markets, he said.

"The retiree has a period of up to five years before he/she has to sell assets from the diversified growth portfolio. Therefore, the investor is not forced to sell assets in a severe bear market, but can hold onto his/her investments until the market has recovered."

A second approach is to consider annuities as part of the solution, which can better address longevity risk.

Mr. Mastracci said most of his clients in retirement fluctuate between 40% and 50% growth exposure in their portfolios in order to meet their individual needs. However, like the UBS report, he stressed the importance of ensuring each portfolio provides some degree of emotional comfort.

"Some people may need some extra juice in their portfolio, but they have to be satisfied with the potential extra risk," he said.

Financial Post

Markets have been bountiful, but there's risk in overstaying your welcome

How to take a profit

Markets have been bountiful, but there's risk in overstaying your welcome

David Pett, Financial Post

Illustration by Juan Carlos Solon/Financial Post

Buy low. It's the first step of the most famous investing cliche out there, and thanks to dirt-cheap prices in the wake of the financial crisis, it's never been easier to accomplish over the past year.

But with stock markets up more than 60% and hitting new recovery highs, now comes the tough part: selling high.

"An investor's biggest problem generally -- fund managers, retail investors, everyone -- is that they don't sell very well," said Joanne Hruska, a vice-president at Aston Hill Financial. "And there is nothing more frustrating than riding a stock up and riding it back down."

Deciding if, when and how to take profits is never clear-cut, and the dizzying rally that doesn't want to quit has left many investors unprepared to think about locking in gains. But smart investors who have a plan in place over what to do with their stocks tend to get burned far less often than those who don't.

George Athanassakos, a professor of finance at the Richard Ivey of School of Business, says investors should have an exit strategy even before buying a stock.

"More than that they need to be disciplined, consistent and patient," he said.

As a value investor, Mr. Athanassakos buys stocks that are trading at a discount of at least one-third intrinsic value. Generally, he likes to hold a stock for three to five years or longer, but when it hits full value, he exits.

Not without exception, of course. If a stock rises quickly in a very short period of time, the finance professor said it makes sense to get out even if it hasn't reached intrinsic value.

"If your target upside is 50% and the stock rises 30% in a week, get out and invest your money somewhere else that now offers better upside," he said.

That doesn't necessarily mean selling the whole position, but at a minimum Mr. Athanassakos said it is important to bring exposure back within preset positional limits. For diversification purposes, the typical weight of any one stock ranges from 3% or 5% of a total portfolio.

Additionally, he said it is prudent to lock in profits early when the business model of the company changes in a way you don't like.

He recalled the story of Shermag Inc., a Quebec-based furniture maker that earlier this decade stopped manufacturing its own product locally and decided to manufacture and distribute furniture made in China.

"Investors realized the stock was no longer the stock they bought and sold out in 2002 and 2003," he said. Sure enough, in 2008, Shermag filed for bankruptcy.

Robert Floyd, the lead manager at R.A. Floyd Capital Management Inc., admits to taking some knocks over his 30-year career because he didn't sell soon enough or didn't sell at all.

For him, knowing the right time to take profits is a matter of consistently reassessing the true worth of the underlying investment, whether it be a stock, bond, exchange-traded fund or commodity. At the same time, it is equally important knowing what to do with the proceeds of the sale.

"If you like a sector but the stock you own now trades at a premium value, look for another stock in the group that trades at a discount," Mr. Floyd said.

"In many respects, that is where we are in this market. There are some names that have gone wildly positive and others that are laggards that make more sense."

The other possibility, he said, is shifting out of the sector entirely into a cheaper sector that is trading at more attractive valuations.

As a total-return investor who views performance as a combination of capital gains and dividends, Mr. Floyd said people must never forget why they bought the stock in the first place. During the market collapse of 2008 and early 2009, he held on to Baytex Energy Trust, even though it got crushed.

"I didn't sell, because I thought it was a terrific cash machine. They did cut their distribution and it went from the mid-$30s to the teens, but I needed to generate income for my clients and it was still providing cash flow on a regular basis."

Valuing the worth of a stock to determine whether it trades at a discount or premium can be a complicated affair. It will depend largely on the company and sector being bought and sold, but also on the type of investment style being employed.

Managers who rely on fundamental analysis may look at earnings and revenue momentum as well as balance sheet strength, for instance, while technical analysts will rely on moving averages, resistance levels and seasonal indicators (Sell in May and Go Away).

Ms. Hruska, who runs an oil and gas fund, uses a combination of strategies, including cash flow multiples.

For example, she likes to buy companies that are trading at 3x cash flow, compared with 5x, which is the average for the group. Once it gets over 7x, she will consider selling it, but it is not always a hard and fast rule.

"We look at what the market is doing as well," she said. "If we see strength, we may extend for a few days. At the same time, we don't delay too long."

Colin Cieszynski, a market analyst at CMC Markets Canada, believes using fixed targets such as those utilized by Ms. Hruska makes for smart investing.

One method used by many of the short-term traders he advises is to sell once a stock either rises to a pre-determined price or falls to a pre-determined price.

"Generally, you would look for a stock where your return-to-risk ratio is at least two-to-one. In other words, a stock bought for $10 would be sold at $12 or more, or if it falls to $9.

"It is important to avoid marginal trades. If a stock could go up one dollar but down two, you don't want to make those trades."

Another method is to use a trailing stop. Using this strategy, investors stay invested as long as the trend is in their favour, Mr. Cieszynski said.

"You might start with a stop loss at 10% below the buy price. If the price goes up, you would keep moving the stop loss up in proportion. Therefore, you only sell when the stop loss is triggered," he said.

If the underlying stock is volatile, Mr. Cieszynski thinks a wider berth with your stop loss may be necessary so the trade does not get knocked out too early.

"If you are day trading, you probably go with some pretty tight stops. If it is weeks or months, there's probably more leeway," he added.

No matter what strategy one utilizes, Mr. Cieszynski cautions investors against becoming complacent.

"The market is dynamic and always changing, he said. "Be proactive, particularly in a consolidating market like we have today. You do not want to outstay your welcome."

The return of oil Janet Whitman, Financial Post

Natural gas piped over the Canada-U.S. border and into the New York City borough of Queens helps light up about one in four bulbs in Manhattan's shimmery Times Square. Beyond serving a quarter of the Big Apple's base load electricity needs, Canada is the United States' biggest source of imported crude oil. Minnesota, for example, gets about 83% of its oil needs from north of the border. While U.S. President Barack Obama may have made much recently of steps to achieve "energy independence," the country's reliance on imports from Canada - as well as the volatile Middle East and other nations around the globe - won't be changing soon and perhaps not for decades.

Mr. Obama's plan to open up huge swaths of long off-limits parts of the U.S. coast to oil and gas exploration isn't expected to yield any significant production for five to 10 years. And that might end up being a bit longer in the wake of this week's oil spill in the Gulf of Mexico following the fiery blast on a drilling rig, which could give momentum to environmental groups opposed to opening up more of the offshore. Ultimately, whether delayed or not, offshore drilling won't be enough to feed the United States' oil habit.

As Mr. Obama himself said, the United States consumes more than 20% of the world's oil, but has less than 2% of the world's oil reserves. About 70% of the oil consumed in the United States goes to feed gas-guzzling automobiles. Unless the nation's fleet of cars and trucks switches to electric power or vehicles can somehow be fuelled by much more plentiful natural gas, there is no way the country can get anywhere close to being energy self-sufficient, industry observers say.

"With domestic production falling almost everywhere, the best we might hope for is that whatever we find might be enough to stabilize our production for a while," said Charles Ebinger, energy policy specialist at the Brookings Institution, a Washington think-tank.
"Every time we lose a barrel of domestic production we offset it with imports, which upsets the balance of trade," he added. The United States paid roughly US$350-billion last year for 4.9 billion barrels of imported oil. "When you put that in context, anything you can do to keep more money home and give Americans jobs is good," Mr. Ebinger said. The U.S. government estimates that between 39 billion and 63 billion barrels of oil could be recovered from the expanded areas proposed for possible drilling, which include off the Atlantic coast, the eastern Gulf of Mexico and the northern shores of Alaska. That won't stretch far given the thirst for oil in the United States. Last year, even as the economy sputtered, 18.7 million barrels a day were consumed. The recoverable oil estimates could be low. Much of the land hasn't been surveyed for oil for nearly 30 years. If, down the road, the United States does end up with more oil than is needed to replace its current production decline, it could supplant some sources. But Canada probably wouldn't be one of them, said Gary Mar, the Alberta government's top representative in Washington.

"I would suggest that oil from a next-door neighbour, friend and ally is the last place the U.S. would be looking at reducing its reliance as an offshore source." Besides the advantage of being able to pipe the oil instead of shipping it on a tanker, Canada's oil sands create a significant number of jobs throughout the United States, Mr. Mar said. The giant Caterpillar trucks used to help recover the oil come from Peoria, Ill., while their 13-foot-high, US$60,000 tires are made in South Carolina.
"If you buy a barrel of oil in Canada, you get it back in a lot of ways," Mr. Mar said. "For every dollar on oil the U.S. spends in Venezuela or Nigeria, the country doesn't get much back." Also in Canada's favour is the fact that recovering crude from the oil sands is less expensive than trying to find new strikes offshore, said Fadel Gheit, managing director of oil-and-gas research with Oppenheimer & Co. in New York.

"The low-hanging fruit has already been picked in the United States. It's going to take billions and billions of dollars to develop new sites. In the oil sands, there's no exploration risk." The United States imports about 53% of its crude-oil needs. Many Americans believe, mistakenly, that the country is heavily reliant on the Middle East for oil. In fact, Canada is the biggest source of oil by a long shot. Alberta alone exports about as much to the U.S. market as Saudi Arabia does. Increased production from the U.S. offshore won't have much, if any, impact on energy security. Even if the United States isn't buying from politically volatile states, some other nation will step in to replace U.S. demand. "The big problem with oil and security is the states that are empowered by their oil revenue," said Michael A. Levi, an energy expert at the Council on Foreign Relations, a New York think-tank. "Both Democrats and Republicans have been slow to modernize their thinking on energy security. The expanded offshore drilling is addressing something else. It may have positive political, commercial and economic implications, but it's not going to change the United States' position in the world when it comes to national security." Crude is trading at around US$85 a barrel.

(It closed at US$85.12 yesterday, up US$1.42.) "If it reaches US$125-a barrel again, as it did in 2008, then approximately half the wealth in the world - above and below ground - will be controlled by OPEC nations," R. James Woolsey, a foreign-policy specialist and former head of the CIA, wrote in a recent op-ed piece for The Wall Street Journal. The sunken oil rig in the Gulf of Mexico - a disaster some observers worried could rival 1989's Exxon Valdez oil spill in Alaska and taint Louisiana's shores - appears to be contained, according to reports from the U.S. Coast Guard yesterday. The blast isn't altering Mr.Obama's drilling strategy, White House spokesman Robert Gibbs told reporters yesterday.
Allan Pulsipher, executive director of the Centre for Energy Studies at Louisiana State University, said the quick clean-up of the spill could help make a case that offshore drilling isn't the danger to the environment it once was. "They've built up a very good oil-spill response and containment capability on the Gulf Coast," he said. "Those guys showed up within a few hours."
IHS Cambridge Energy Research estimates that the new areas approved to open for possible exploration off the U.S. coasts could lead to the recovery of about 40 billion barrels of oil. Areas kept off limits - the U.S. Northeast, Pacific coast and ecologically rich Bristol Bay in Alaska - could hold three times that much, said Bob Fryklund, a geologist who is now a vice-president with IHS in Texas. "If the offshore was expanded further, it could help, but it's not enough to solve the overall problem. Nor is solar power or wind power or biofuels.

Those are all part of the future mix." The biggest game changer will be to break the United States' dependence on oil. In that regard, the expansion of offshore drilling is seen as a crucial bargaining chip to win support from "drill-baby-drill" Republicans for climate-change laws. So-called cap-and-trade legislation, which could diminish the use of fuels by putting a price on carbon emissions, probably won't end up in the final bill, said Mr. Ebinger of Brookings. "But if we can get an energy bill out of Congress, we could see further efficiency goals for home appliances, new standards for automobiles and stricter building codes." For the United States - which has some of the lowest prices at the pump in the world - tighter fuel-economy standards have the same impact as a gas tax, but have the virtue of being politically possible. "A gasoline tax could make people think twice," said Mr. Gheit of Oppenheimer. "But there's no political guts to get Americans off their feeling they have a right to cheap gas.

Europeans pay twice as much and they're not complaining." One wildcard that could dramatically alter the landscape for the United States' move toward energy independence is natural gas, which is plentiful in the country and much cleaner and cheaper than many other fuels, industry analysts and policy experts say.

"First, we need to figure out a way to make it into a transportation fuel," said Mr. Fryklund of IHS. "Hybrids are definitely working. It's a consumer issue as much as anything. It's about changing the way they think." Financial Post

Pescod Talks about...

Mining for quality in the precious metal sector

Mining for quality in the precious metal sector

Thursday, April 22, 2010

WHAT ARE WE LOOKING FOR?

This is our last look this week at what the pros are buying for their mutual funds.

Checking out their top holdings is a way to get stock ideas. It may help you do your due diligence when buying a specialty fund.

You can find the biggest holdings on a firm's website. Today, we will look at Dynamic Precious Metal at Dynamic Funds' site.

ABOUT THE FUND

The $675.4-million precious metals equity fund has been run by Robert Cohen for a decade. It gained 35.7 per cent for the year ended March 31. Over 10 years, it has an annualized return of 22.5 per cent.

The value manager looks for quality companies with experienced management, and projects in countries where there is low political risk.

Mr. Cohen is bullish on the price of gold. His colleague Martin Murenbeeld, chief economist at DundeeWealth Inc., forecasts the yellow metal will climb to about $1,226 (U.S.) an ounce by the end of the year, and have an average price of $1,293 next year.

The U.S. monetary base has been growing massively especially over the last couple of years to “bail out the financial crisis,” and paper money is becoming devalued, he said.

“Gold is a monetary asset that can't be simply willy-nilly printed,” he said. “It is the single and only commodity central banks around the world use to back their foreign exchange reserves.”

WHAT DID WE FIND?

Andean Resources and Red Back Mining have been the big gainers so far this year.

But Mr. Cohen is still enthusiastic about Andean Resources, a gold explorer with its flagship Cerro Negro project in Argentina.

“It is really one of the premier gold-exploration projects out there owned by a junior,” he said. “Mind you, it has a market cap of over $1-billion (Canadian).”

The project has a high-grade resource of more than three million ounces of gold, but that should double over the next two years, he said. “The geology is analogous to the El Penon mine, which made Meridian Gold, but we feel it is better.” He has a target of $5 a share over the next couple of years.

He is also a big fan of Red Back Mining, which has two high-quality, low-cost producing mines, including the Chirano project in Ghana and Tasiast mine in Mauritania.

The Tasiast mine has a reserve of close to five million ounces of gold, but “we feel it is going to grow to over 10 million ounces over the next couple of years,” he said. “Tasiast will, in my opinion, be the major driver of the net asset value of the company.” His target is $32 a share over two years.

Mr. Cohen also sees potential in Osisko Mining, which expects to start production of its first gold mine in Malartic, Que. early next year. “It should be producing close to 750,000 ounces a year which will make it the single-largest gold mine in the country,” he said.

Osisko is in the throes of acquiring Vancouver-based Brett Resources Inc. “If that does close, by 2015 the company can produce 1.1 million ounces a year from two mines,” he said. Excluding this proposed acquisition, he has a target of $15 a share over two years.

FA: $425,000 Awarded by The Supreme Court of B.C.

Farallon Announces Internet Defamation Case Award

cnw


$425,000 Awarded by The Supreme Court of B.C.

VANCOUVER, April 22 /CNW/ - Dick Whittington, President and CEO of Farallon Mining Ltd. ("Farallon" or the "Company") (TSX:FAN) is pleased to announce that on March 30th, 2010, Farallon Mining Ltd., Farallon's Chairman Ronald Thiessen and Hunter Dickinson Inc., were awarded a total of $425,000 in a defamation case brought by the Company against Mr. Robert Butler.


Farallon Mining, on behalf of all the Plaintiffs, filed a lawsuit against Mr. Butler on October 5th, 2004 for posting various defamatory statements on the website at www.stockhouse.com. On March 30th, 2010, the Honourable Madam Justice Wedge of the Supreme Court of British Columbia, awarded each of the Plaintiffs general and punitive damages, while Mr. Thiessen was also awarded aggravated damages. The total damages awarded against Mr. Butler are $425,000. Madam Justice Wedge also awarded costs against Mr. Butler, as well as ordering a permanent injunction against him, restraining him from publishing any further defamatory statements against the Plaintiffs. The Plaintiffs intend to vigorously pursue enforcement of the Order against Mr. Butler to the full extent permitted under the law.


Dick Whittington said: "This is amongst the highest awards of its kind in Canada and will hopefully restrain others from issuing unfounded defamatory statements against companies that are trying to legitimately create value for shareholders, stakeholders and mining communities around the world. Farallon has been the subject of defamatory allegations for some time and our intention has always been to expose those making these allegations and then apply the rules of law to seek compensation. I am very pleased that the Court has ruled so convincingly in our favour. Shareholders can be assured that we will continue to be vigilant in defending their interests against such libellous accusations in the future. We stated we would bring those involved to justice and while it has taken longer than anticipated, in the end, justice has prevailed."


Further details of the Court Order are posted on the Company's website at www.farallonmining.com. The Company was represented in this action by Tom Hakemi of Hakemi & Company Law Corporation.





Farallon operates the G-9 zinc mine on its Campo Morado Property in Guerrero State, Mexico. G-9 is a 1,500 tonnes per day, underground, zinc mine with important by-product credits of copper, gold, silver, and lead. The Company is targeting to produce at an annualized production rate of 120 million pounds of zinc and 15 million pounds of copper per year.




<<
ON BEHALF OF THE BOARD OF DIRECTORS
J.R.H. (Dick) Whittington
President & CEO
>>

New Gold Announces 44% Increase in Gold Sales, 8% Decrease in Cash Cost and $72 Million Increase in Cash in First Quarter of 2010

New Gold Announces 44% Increase in Gold Sales, 8% Decrease in Cash Cost and $72 Million Increase in Cash in First Quarter of 2010

(All figures are in US dollars unless otherwise indicated)


VANCOUVER, April 21 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX:NGD) today announces 2010 first quarter gold sales of 80,020 ounces at a total cash cost(1) of $472 per ounce, net of by-product sales. The preliminary production, sales and total cash cost(1) information provided are approximate figures and may differ slightly from the first quarter earnings results. New Gold is also pleased to reiterate its 2010 full year guidance of 330,000 to 360,000 ounces of gold production at a total cash cost(1) of $445 to $465 per ounce sold, net of by-product sales.


<<
First Quarter Highlights

Results presented below are for the period of ownership for the Mesquite
Mine (June 1, 2009).

- Gold sales increased by 44% to 80,020 ounces from 55,397 ounces in
the same period in 2009

- Total cash cost(1) decreased 8% to $472 per ounce sold, net of by-
product sales, from $513 per ounce sold in the same period in 2009

- Gold production increased 41% to 77,215 ounces from 54,938 ounces in
the same period in 2009

- Cash balance increased by $72 million from year-end 2009 to $344
million at March 31, 2010

- Fully repaid the remaining $27 million of the Mesquite Term Loan
Facility

The Mesquite and Peak Mines had strong operating quarters achieving their targeted gold production levels at lower than forecasted total cash cost(1). In addition, in response to the delay in renewal of the explosives permit at Cerro San Pedro, operating parameters were adjusted to maximize the production of gold and silver and contribute meaningfully to the consolidated results in the first quarter of 2010. New Afton also continued its strong progress with a fifth straight quarter of increased underground advance since the beginning of 2009.


"We are very pleased with the operating performance and continued enhancements at all of our mines," stated Robert Gallagher, President and Chief Executive Officer. "Mesquite, Peak and New Afton all had an excellent start to 2010 and the team at Cerro San Pedro effectively maximized production from the heap leach pad despite the delayed receipt of our explosives permit."

Operations Overview

Historical results presented below include gold production, sales and total cash cost(1) for the first quarter of 2009 which reflects a period prior to the acquisition of the Mesquite Mine (June 1, 2009).

Mesquite Mine Successfully Increasing Production and Reducing Costs





Gold sales in the first quarter at Mesquite increased by 51% to 49,502 ounces from 32,715 ounces sold in the first quarter 2009. Gold production was 44,034 ounces compared to 33,660 ounces in the same period in 2009. The increased gold sales and production at Mesquite during the first quarter were primarily driven by mining at reserve grade when compared to the lower grade ore mined in the first quarter of 2009 as well as continued improvement in gold recoveries.


Total cash cost(1) per ounce of gold sold for the first quarter of 2010 was $550 compared to $573 in the same quarter of 2009. The total cash cost(1) decrease is a result of higher gold sales in the quarter partially offset by higher consumable and labour costs when compared to the first quarter of 2009.


The Mesquite Mine is forecast to produce 145,000 to 155,000 ounces of gold in 2010 at total cash cost(1) of $540 to $560 per ounce sold.





Cerro San Pedro Mine Maximizes Relative Contribution





As a result of a previously disclosed legal challenge that was subsequently dismissed in mid-March, the renewal of the Mine's explosives permit was delayed until March 18, 2010. Despite limited ore delivery in the first quarter, the team focused on optimizing the processing of heap leach ore to maximize the production of gold and silver during the quarter. Gold sales in the first quarter at Cerro San Pedro were 13,124 ounces compared to 18,314 ounces in the same period in 2009. Gold production was 12,938 ounces compared to 20,583 ounces in the same period in 2009. The decrease in production was a result of limited delivery of ore to the leach pad due to the delayed granting of the explosives permit. Silver sales in the first quarter were 193,506 ounces compared to 372,219 ounces in the first quarter of 2009.


Total cash cost(1) per ounce of gold sold, net of by-product sales, for the first quarter was $622 compared to $551 in the first quarter of 2009. The increase in total cash cost(1) is due to the fixed portion of operating costs at Cerro San Pedro being attributed to fewer gold ounces sold as well as lower by-product credits resulting from lower silver sales during the quarter. As the mine uses contracted equipment, variable mining costs were reduced, however, these were offset by increased processing costs to maximize production from the ore that was previously placed on the heap leach pad.


The company continues to work with federal and local levels of government in Mexico to resolve the ongoing legal challenges at Cerro San Pedro.


Since the receipt of the explosives permit the mine has been fully operational and the forecast for Cerro San Pedro remains unchanged with expected production of 95,000 to 105,000 ounces of gold and 1.4 to 1.6 million ounces of silver in 2010. Total cash cost(1) is forecast to be $390 to $410 per ounce sold, net of by-product sales. The full year total cash cost(1) assumption is based on a by-product silver price of $15 per ounce.





Peak Mines Continues to Deliver with Record Low Cash Cost(1)





Gold sales in the first quarter at Peak Mines were 17,394 ounces compared to 20,856 ounces sold in the first quarter of 2009. Gold production was 20,243 ounces compared to 20,629 ounces in the same period in 2009. Gold production quarter-over-quarter remained consistent, with gold sales decreasing slightly due to timing of concentrate shipments. Copper sales increased in the first quarter to 4.1 million pounds from 2.8 million pounds in the same quarter of 2009. The increase in copper production over the same quarter in 2009 was the result of higher copper grades and recoveries.


Total cash cost(1) per ounce of gold sold, net of by-product sales, for the first quarter was $136 compared to $337 in the first quarter of 2009. The decrease in total cash cost(1) is due to higher by-product sales resulting from increased copper volumes and higher average copper prices during the first quarter of 2010 compared to 2009. The first quarter cash cost further benefited from copper sales of 4.1 million pounds being netted against 17,394 ounces of gold sales. As gold sales are expected to increase in subsequent quarters of 2010, with copper sales remaining consistent, the relative by-product benefit should be lower than that recorded in the first quarter. These cost reductions were partially offset by an increase in the Australian dollar exchange rate when compared to the first quarter of 2009.


Peak Mines remains on target to produce 90,000 to 100,000 ounces of gold and 15 to 17 million pounds of copper in 2010. Total cash cost(1) is forecast to be $360 to $380 per ounce sold, net of by-product sales. The full year total cash cost(1) assumption is based on a by-product copper price of $2.75 per pound.





New Afton on Track to Contribute Significantly





New Gold's primary development project continued on schedule during the first quarter and is expected to commence production in the second half of 2012. The project will be an underground mine and concentrator which will produce an annual estimated average of 85,000 ounces of gold, and 75 million pounds of copper.


The company looks forward to production commencing in just over two years, as New Afton is expected to contribute significantly to New Gold's current portfolio of operating assets. As a low-cost operation, New Afton should meaningfully expand the company's operating margin and cash flow generation. At current commodity prices, the mine is expected to double the company's cash flow.


During the first quarter of 2010, the New Afton underground development crews continued their track record of continuous improvement advancing development 742 metres. This marks the fifth consecutive quarter of increased development.


Activities were initiated during the quarter in preparation for commencement of surface construction in May 2010, including: tendering of buried services contracts, geotechnical drilling and site grading.





El Morro Project Update





New Gold's 70% joint venture partner on the El Morro Project, Goldcorp Inc., continues to work through the permit review process for the project with a target to begin construction in early 2011. A project team has been assembled to advance exploration and development at the site during 2010 and plans to further optimize the existing feasibility study are underway.





First Quarter Production and Cash Cost(1) Overview





Results presented below are for the period of ownership for the Mesquite Mine (June 1, 2009).

Crackhouse Or Mansion Game You Gotta See To Believe

The game features real Vancouver real estate listings, as of April 10th, 2010.
Can you tell the difference between a crack shack and a Vancouver, BC mansion, listed for one or two million dollars? Find out!

The original Crack Shack or Mansion game.

PC GOLD PKL-T Time To Buy!

PC Gold Closes $9.1 Million Private Placement
09:44 EDT Tuesday, April 20, 2010

OTTAWA, ONTARIO--(Marketwire - April 20, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

PC Gold Inc. (TSX:PKL) ("PC Gold" or the "Company") is pleased to announce that it has closed its previously announced offering of 5,000,000 flow-through common shares (the "Flow-Through Shares") at a price of $1.82 per Flow-Through Share for total gross proceeds to the Company of $9.1 million (the "Offering"). The Offering was completed on a guaranteed agency private placement basis by Cormark Securities Inc. as lead underwriter, with a syndicate which included Canaccord Financial Ltd.

The proceeds of the Offering will be used by the Company to incur eligible Canadian Exploration Expenses, as defined under the Income Tax Act (Canada), that will be renounced in favour of the purchasers with an effective date of no later than December 31, 2010. The funds will be used for exploration on the Company's Pickle Crow property located in northwestern Ontario, Canada.

The Flow-Through Shares are subject to a hold period that will expire on August 21, 2010. The Offering remains subject to the final approval of the TSX.

The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. person absent an exemption from the registration requirements of such Act.

FOR FURTHER INFORMATION PLEASE CONTACT:

PC Gold Inc.
Kevin M. Keough
President and Chief Executive Officer
(613) 271-2105

kevin.keough@pcgold.ca
www.pcgold.ca






PC GOLD INC. is a mineral exploration and development company incorporated for the purpose of acquiring the Pickle Crow Property. Following the completion of the Minimum Offering and Acquisition, the Pickle Crow Properties will be the Company's sole property. The Company intends to undertake a major exploration and development program on the Pickle Crow Property.

PKL.TO - Pc Gold Inc (TSX)

Date	Open	High	Low	Last	Change	Volume	% Change
04/19/10	1.5100	1.5800	1.5100	1.5100	-0.0900	423110	-5.63%

Composite Indicator	-- Signal --	-- Strength --	-- Direction --
Trend Spotter (TM)	Buy	Weak	Weakest
Short Term Indicators
7 Day Average Directional Indicator	Sell	Minimum	Strengthening
10 - 8 Day Moving Average Hilo Channel	Sell	Minimum	Strengthening
20 Day Moving Average vs Price	Sell	Minimum	Strongest
20 - 50 Day MACD Oscillator	Buy	Maximum	Strongest
20 Day Bollinger Bands	Hold		Bearish
Short Term Indicators Average:	40% - Sell
Medium Term Indicators
40 Day Commodity Channel Index	Hold		Bearish
50 Day Moving Average vs Price	Buy	Average	Weakest
20 - 100 Day MACD Oscillator	Buy	Maximum	Strongest
50 Day Parabolic Time/Price	Sell	Average	Strongest
Medium Term Indicators Average:	25% - Buy
Long Term Indicators
60 Day Commodity Channel Index	Hold		Bearish
100 Day Moving Average vs Price	Buy	Strong	Weakest
50 - 100 Day MACD Oscillator	Buy	Maximum	Strongest
Long Term Indicators Average:	67% - Buy
Overall Average:	16% - Buy

iseemedia Ties Up with Indiatimes Mail to Offer 'Blackberry-like' SMS Email Service

iseemedia Ties Up with Indiatimes Mail to Offer 'Blackberry-like' SMS Email Service

09:37 EDT Wednesday, April 07, 2010

TORONTO and MUMBAI, India, April 7 /CNW/ - Feature phones will now offer user experience comparable with smartphones, following a recent tie-up between Indiatimes Mail and iseemedia Inc., (TSX-V: IEE), a leading provider of messaging and content handling technologies. The strategic partnership between both companies was announced today, and involves the integration of its ground-breaking iseemail(TM) software with IndiaTimes Mail.

The integration allows Indiatimes Mail users to easily migrate their web email activities to their mobile phones through iseemedia's agreements with Tata Teleservices Ltd. and Reliance Communications, two leading wireless service operators in India.

"This partnership with Indiatimes Mail is an important milestone for our Company in order to drive awareness and traction of our SMS services to our carrier partners in India," said Mr. Anthony DeCristofaro, President and CEO, iseemedia. "Our carrier partners can expect a higher adoption rate for iseemail through one of India's most popular web domains, as they aggressively market the iseemail service to its customer base."

Indiatimes is one of the largest value-added services (VAS) providers to the telecom industry in India. It creates, aggregates and distributes information, utilities and entertainment to mobile users. Being operator-agnostic, its content is accessible to all the 175 million mobile users across the country.

Speaking about the latest development, a senior Indiatimes official and company spokesperson of Times Internet Ltd, said: "We are happy to associate with iseemail. This partnership helps us meet a fundamental mobile consumer need to keep connected to mail via mobiles, and is a further step towards convergent service delivery vis-à-vis the accessing of emails on almost all types of mobile phones."

In India, the telecom industry is growing by leaps and bounds with an ever-increasing subscriber base. "We're observing a discernible trend among social mobile users who are driving the convergence of web content portals with mobile wireless services," said Mr DeCristofaro. "Indiatimes Mail and iseemail together provide an ideal platform for better wireless email adoption and web content consumption," he added.

iseemedia's multi-platform email solution, iseemail, enables every mobile handset in India to act as a smartphone and enable users to check, download and retrieve email messages using the SMS interface. iseemail supports all types of email messaging systems in India through standard POP3, IMAP4 and Microsoft Exchange ActiveSync protocols. It also offers access to enterprise and consumer messaging from Microsoft Exchange, Lotus Domino, Gmail, Hotmail, AOL and more.

About Indiatimes

About Times Internet Limited: Times Internet Limited, (TIL), is the Internet venture of India's largest media house - the Times Group. TIL made a foray into the Internet with a mission to create world-class Web products and services. Within a short span of time, the company has emerged as India's foremost Web entity, running diverse portals and niche websites. Over the years, TIL has led the internet revolution in India, seamlessly integrating content, community and commerce. TIL websites are among the fastest growing web-based networks worldwide. Indiatimes.com is TIL's flagship brand. India's largest internet portal encompasses telecom, e-commerce, online advertisement solutions, events and expert seminars. Touted the youngest ever "Business Superbrand", Indiatimes.com is undoubtedly India's preferred online destination for millions of surfers looking for a rich and diverse online experience. Indiatimes.com, the multi-faceted portal, commands more than 400 Million page views per month.

About iseemedia

iseemedia Inc. is a software development company focused on the commercialization of a Service Delivery Platform (iseemail(TM)) for delivering Blackberry-like email services to the mass market and an advanced Content Delivery Platform (iseedocs(TM)) for rich media adaptation and extremely cost-efficient network delivery to mobile devices. The Company maintains a broad portfolio of issued and pending patents that cover content authoring, streaming and interactive viewing on mobile devices. iseemedia is publicly traded in Toronto (Symbol: IEE.V).

    <<      (C) 2010 iseemedia Inc. All rights reserved. iseemedia, iseemail and        iseedocs are either Registered Trademarks or Trademarks of iseemedia         Inc. in the United States and or Canada. All other trademarks and            trade names are the property of their respective owners. 

Silver As An Investment?

These past few years have shown us how unfair investments have become.

With billion dollar Ponzi schemes and market manipulation plaguing our markets, it is becoming much harder to understand where the markets are heading. Goldman Sachs were just accused of securities fraud, adding more insult to injury (see SEC charges against Goldman Sachs).

This leads us to the next conspiracy theory that, if proven correct, could reap big rewards for those who are in the know.

Silver Manipulation

For months we have been raving about precious metals such as gold and silver, with many past newslettersfocusing on gold. But this time around, we're going to focus specifically on silver and why we are heavily favouring silver and silver miners right now.

Gold is great. But we think silver is better.

Silver historically trails gold in a precious metals bull market because everyone sees gold as an alternative to money. But a closer look will tell you that silver posts better percentage returns nearly every time there is a sustained gold rally.

If you like gold, you should love silver

For thousands of years, the gold/silver ratio price per ounce has remained relatively constant at 16 to 1-meaning one ounce of gold can buy 16 ounces of silver. Coincidently, that ratio remains relatively constant for the amount of silver versus gold in the world. For every ounce of gold in the ground, there is roughly 17.5 ounces of silver.

Right now, the gold and silver price spread is 60 to 1.

We think there is a good reason why. And this reason alone, if exposed, could send silver prices through the roof...

Even though there is far more silver on earth than gold, the silver market is much smaller than gold. This makes transactions much more visible and the market more susceptible to large fluctuations - and thus, manipulation. Silver is a less-active and lower-volume market than gold, which means that purchases even by individual investors can make an impact on silver prices.

That is exactly what the Commodity Futures Trading Commission (CFTC) is thinking.

The CFTC is currently investigating the manipulation of the silver market by the big banks, including J.P. Morgan. This isn't the first time this has happened. The CFTC has done this many times before.

But this time, they had no choice.

The Consipracy Theory?

Andrew Maguire, a successful metals trader and whistleblower went to the CFTC with data that strongly suggested that a small number of short sellers had rigged the markets for both silver and gold. Maguire not only provided the regulators on how the manipulation generally worked, but also warned them of a specific scenario where the SPDR Gold Trust (NYSE:GLD)and iShares Silver Trust (NYSE:SLV) markets would be manipulated.

Not only that, he told the regulators that a massive crime was about to happen, and the crime happened precisely as he predicted it would, forcing the CFTC to take a closer look.

You can search the conspiracy theories all over the internet regarding the events that followed by searching the net for "Andrew Maguire" and "Silver Manipulation". It's actually quite entertaining.

However, we're not here to tell right from wrong, nor accuse any one of any wrong doings. That's the CFTC's job. But certain things were revealed during the hearing that could have a significant upward impact on the price of both silver and gold.

It has now been revealed that most of the gold that is traded in the markets is not actually fully backed by the actual metal itself, as many believe. For years, most people have assumed that the London Bullion Market Association (LBMA), the world's largest gold market, had actual gold to back up the massive "gold deposits" at the major LBMA banks.

This was confirmed during the CFTC hearings when Jeffrey Christian of the CPM Group said that the LBMA banks have approximately 100 times more gold deposits than actual gold bullion. This means that for every ounce of gold traded in these markets, 99 of them appear from thin air. Has gold and silver been converted into a fiat currency in these markets?

What happens if everyone decides that they want actual physical delivery of their gold? What about silver?

In fact, we may already be seeing some action in the markets from the information presented at the recent CFTC hearings. Silver prices are up almost 8% since the hearings and rumours are circulating that JPMorgan is already buying back some of its silver short positions.

If the CFTC announces that the silver markets have, in fact, been manipulated, the price of silver could easily skyrocket. Combine that with the fact that the silver traded in the today's markets may not be 100% backed by physical metals, and we could have s signifcant supply shortage.

Therefore, as rare as silver is thought to be today, it will be even rarer than we once believed if the markets are being manipulated with excess futures.

It's Only Just Begun

What makes this scenario even more scary, or should we say bullish, is the fact that silver inventories are drying up, while the demand of silver through ETF's and investment purposes are rising.

In the last decade, silver has been readily consumed almost as quickly as it has been produced, with the largest driver of growth coming from the electronics sector such as new flat screen TV's. The very TV or computer screen you are staring at right now probably contains several grams of silver - most of which will never be recovered or recycled.

Commodities research firm CPM Group says the current amount of above ground refined silver has fallen from 2.2 billion ounces in 1990 to less than 1 billion today. The fact that total global inventories could completely collapse in just 15 years gives us some indication of how grossly-undervalued silver truly is.

Now Don't Forget China

We all know that China has played a pivotal role in the price of gold increase (see Where the Billionaires Invest). As recently as 2002, the private ownership of gold was prohibited in China. But since 2009, the central Chinese government removed all restrictions and began to encourage their citizens to buy precious metals such as gold and silver.

Again, because not everyone can afford gold, many of their citizens will be rushing toward silver. Practically every bank in China now sells gold and silver bullion bars in different sizes. And with a savings rate of 30-40%, you can bet the Chinese are buying these up. Heck, there are even reports of mining employees that have been encouraged to convert some of their wages to gold on payday.

In addition to bullion alone, China also represents an ever-growing economy migrating from a developing nation to first world country. This means that millions upon millions of Chinese citizens will be buying new TV`s, cell phones and devices that require silver.

China's silver consumption already accounts for 70% of the global total of industrial use, and its middle class is far from reaching its spending potential. This will undoubtedly send the silver supply further downward as global production slows.

Think about it. How many silver producers are there out there? Not many.

That's why we have been aggressively meeting with the management teams of silver juniors recently and we may be on the brink of releasing our next featured silver company very soon.

Source: EQUEDIA Report On Silver

PKL Time To Buy

PC Gold PKL-T Time To Buy before Results Of Tests Reported

A total of 795,240 70-cent warrants were exercised by shareholders on March 12, 2009, for total proceeds to the company of $556,668.

UPDATE 3-PC Gold increases private placement size to C$9.1 mln

14:21 EDT Monday, April 05, 2010

* Increases offering size by 1.15 million shares

* Says to use proceeds for Pickle Crow mine

* To add a fourth drill at Pickle Crow

* Shares rise 11 pct (Recasts; adds details, updates share movement)

April 5 (Reuters) - Canadian gold explorer PC Gold Inc increased the size of its private placement to C$9.1 million ($9.05 million) by offering more shares to underwriters.

Shares of PC Gold, which plans to use the proceeds to fund exploration at its key gold mine in Ontario, were trading up about 11 percent at C$1.61 Monday afternoon on the Toronto Stock Exchange.

The company said it would offer an additional 1.15 million flow-through shares, bringing the total to 5 million, at C$1.82 apiece, a premium of 26 percent to the stock's closing price on Thursday.

The underwriters for the offering, which is expected to occur about April 20, include Cormark Securities Inc and Canaccord Financial Ltd.

The company said a fourth drill would be added to its exploration program at the Pickle Crow gold mine in Ontario, where it made a significant gold discovery late last month.

In March, PC Gold said in an interview that it remains focused on the property, its trump card, and is not on the lookout for any other properties. [ID:nSGE62N0DY]

($1=1.006 Canadian Dollar) (Reporting by Aftab Ahmed and Abhiram Nandakumar in Bangalore; Editing by Anne Pallivathuckal)

DEE ENERGY Ready To Run

Experts who have talked about Delphi Energy Corp.

TOP PICK	2.730	Eric Nuttall	Exceptionally well run natural gas. 50% of their production is hedged at $6.50. Very cheap at 6X cash flow. Testing 4 new zones, none of which have any meaningful reserves. Tremendous success in the Cardium.	2010-03-24
BUY	2.770	Jason Donville	Have a big capital expenditure program. There should be a big ramp up in production.	2010-03-23
BUY	2.600	John Stephenson	Small. It’s not going to be a home run. A few good wells.	2010-03-05
WAIT	2.400	Jennifer Stevenson	It has had its challenges because it is gas focused and balance sheet was hefty. They have done well in paying down their debt and growing their production. Stock is not expensive. Biggest risk is that it is a gas focused player and as we are rolling into the shoulder season, you may get a chance to buy it cheaper over the next few months.	2010-02-16
SELL	2.030	Laura Lau	One of the cheapest gas stories. Priced to sell but doesn't think they are ready to sell yet.	2010-02-08
TOP PICK	2.000	Andrew Cook	About 80% production is natural gas with about a 15% production growth. Also have a pretty strong drilling program over the next year. Also have some light oil exposure.	2010-01-20
BUY	1.760	Laura Lau	Tend to spend a lot of their capital, more than other companies, in the winter months. Have some good assets so will be able to grow their production and reserves. Expects a few more months of good performance..	2009-11-18
BUY	1.720	John Stephenson	(Market Call Minute.) Small at 6800 BOE’s a day that has a lot of catalysts for growth.	2009-11-09
Comment	1.650	Michael Smedley	Very small gas company that has made some acquisitions. Basically a speculation.	2009-10-26
PAST TOP PICK	1.620	Joseph Schachter	(Top Pick Nov 14/08, Up %24.6) Would be a buyer here. Like the company. They have an oil business to grow while Nat Gas is suffering.	2009-10-20
TOP PICK	1.620	Joseph Schachter	Has a very dominant core in west Alberta. There is vertical as well as horizontal potential. They’ve started going after the horizontal natural gas. Just did a number of acquisitions to try to get control of that area. By next year they should be doing about 8,000 bue’s a day. They estimate $.35 in cash flow.	2009-10-20