Investments

Click here to read Pinetree’s Disclosure Criteria

Pinetree began investing in precious metals stocks in 2002 when gold was trading at $300/oz. In 2007, gold topped the $840/oz mark. With the fundamentals for gold remaining strong, we expect to see gold prices at or near record highs going forward. Government spending and inflationary pressures in the US coupled with interest rate cuts resulting from the sub-prime market are putting downward pressure on the US dollar. People are investing in gold as a hedge and safe haven.

Likewise, Pinetree believes that silver is highly leveraged to the depreciating US dollar and we remain very positive about junior silver exploration companies. The price of silver grew by 46% in 2006 and this growth continued in 2007 and is widely expected to continue, driven largely by investment and industrial demand. As is the case with gold downward pressure on the US dollar is driving investors to silver as a hedge. There is also strong demand for silver from industrial applications including: electronic and electrical applications, semi-conductors and new applications taking advantage of silver’s anti-microbial properties.

Looking forward, we believe the supply side fundamentals for both silver and gold support elevated prices as new mines are taking longer to come into production due to permitting delays, environmental activism and political risk. We believe superior returns will come from investments in junior exploration and development (pre-feasibility or feasibility studies under way) companies, given their potential for discovery and their high level of leverage to elevated gold and silver prices.

 

    24 Hour Spot Gold

 

   24 Hour Spot Silver

Precious Metals Investments as at December 31, 2009. 

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African Gold Group Inc. (AGG:TSXV)
Precious Metals 
9,079,500 common shares 
3,000,000 warrants expire January 23, 2011
282,500 warrants expire April 28, 2011

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AMI Resources Inc. (AMU:TSX-V)
Precious Metals 
9,079,500
3,000,000 warrants expire January 23, 2011
282,500 warrants expire April 28, 2011 

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Bear Lake Gold Ltd. (BLG: TSXV)
Precious Metals 

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Caledonia Mining Corp. (CAL:TSX)
Precious Metals 
35,910,000

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Colossus Minerals Inc. (CSI: TSX)
Precious Metals 
3,000,000 common shares

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Evolving Gold Corp. (EVG:TSXV)
Precious Metals 
9,500,000 common shares
500,000 warrants expire November 24, 2011 

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Gold Canyon Resources Inc. (GCU:TSXV)
Precious Metals
5,500,000 common shares
1,000,000 warrants expire September 29, 2011

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Latin American Minerals Inc. (LAT:TSXV)
Precious Metals 
13,500,000 common shares
500,000 warrants expire Feb 19, 2010
1,000,000 warrants expire October 5, 2011

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Mega Precious Metals (MGP-TSXV)
Precious Metals
4,980,836 common shares
375,000 warrants expire Nov 2, 2010

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Niogold Mining Corp. (NOX:TSXV)
Precious Metals
7,171,500 common shares
900,000 warrants expire December 22, 2010

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Nortec Ventures Corp. (NVT:TSXV)
Precious Metals 
16,080,000 common shares 
540,000 warrants expire Debruary 14, 2010
1,500,000 warrants expire June 15, 2011 

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Queenston Mining Inc. (QMI:TSX)
Precious Metals
5,248,200 common shares

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Redstar Gold Corp. (RGC:TSXV)
Precious Metals
6,750,000 common shares

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Redstar Gold Corp. (RGC:TSXV)
Precious Metals
6,750,000 common shares

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Shoreham Resources Ltd. (SMH:TSX-V)
Precious Metals
3,600,000 common shares
750,000 warrants expire May 14, 2010
250,000 warrants expire May 14, 2011

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Silver Quest Resources Ltd.(SQI:TSXV)
Precious Metals
4,250,000 common shares
1,250,000 warrants expire Sep 16, 2010
1,250,000 warrants expire Oct 6, 2010

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Solitario Resources Corp. (SLR:TSX)
Precious Metals
2,508,053 common shares

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Temex Resources Corp. (TME: TSXV)
Precious Metals
8,977,000 common shares
440,000 warrants expire May 26, 2011

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TNR Gold Corp. (TNR: TSXV)
Precious Metals
6,575,000 common shares
500,000 warrants expire April 17, 2010

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Treasury Metals Inc. (TML:TSX)
Precious Metals
2,186,055 common shares
500,000 warrants expire November 22, 2010

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Unigold Inc. (UGD:TSXV)
Precious Metals
10,516,000 common shares
1,500,000 warrants expire Dec 1, 2011

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Valencia Ventures Inc. (VVI:TSX-V)
Precious Metals
14,884,000 common shares
4,700,000 warrants expire Nov 25, 2011