₪ David Pescod's Late Edition June 1, 2006
Hello from Provence France
We're here at the incredible Four Seasons Provence Resort in France doing the dirty work. Canaccord holds it's annual gathering for its top 20 brokers, and there is time spent going over what clients, customers and fans of Canaccord want, or hope to see that can be done better, faster or cheaper.
Coming from the typical "bank" operation, the move to Canaccord was like a re-birth to us - their expertise on the junior markets, plus the expertise in everything from income trusts to top rated research everywhere has made us a huge fan of Canaccord. Why would a broker work any where else but Canaccord we wonder, but there are those that have yet to see the light. So taking advantage of the presence of the top twenty brokers from across the country (they must know something to be here), we ask our favorite question to each broker. “If you could buy only one stock for the next year, what would it be?” Note that the picks below go right across the investment spectrum.
For those participants that don't pick the winning stock, a bottle of good quality red wine will be delivered to the winner. All are also expected to say words of praise to the winner at next years meeting...
Canaccord Brokers Picks:
Broker Stock & Symbol Closing Price
May 26th
Seth Allen Petaquilla Minerals Ltd (PTQ-T) $2.19
Rob Anderson Bluerock Resources.( BRD-V) $0.45
Peter Chandler TSO3 Inc. (TOS-T) $2.94
Cam Currie Gabriel Resources (GBU-T) $2.86
Gerry Fabbro Jaguar Mining (JAG-T) $4.34
Jeff Finkelstein Russia & East Europe (ETF) (TRF-N) $78.80
Templeton Russian East European Fund
Rick Langer Mena Resources (MEA-V) $1.27
Bruce McClymont Globestar Mining (GMI-V) $1.27
Murray McWilliam High Arctic Energy Trust (HWO.UNT) $13.30
Glen Milne Aranka Gold (ARK-V) $2.58
Rick Moore Ryjencap Inc (RYJ.P-V) $0.15
Dave Pescod Watch Resources (WR-V) $0.45
Colin Rothery Pacific Rodera (PRD-V) $1.01
Wendy Strub Kinross Gold Corp (K-T) $12.15
Bob Schiesser Culane Energy (CLN-V) $4.50
Vandana Varshney JER Envirotech Intl. (JER-V) $0.92
Doug Wood Klondex Mines (KDX-V) $2.65
GRAND PETROLEUM (V-GPP) $4.90 +0.05
We’ve mentioned before that Haywood analyst Fred Kozak is a big fan of Grand Petroleum, but then he knows management and it is GPP’s management that trained him to be an analyst.
Today, Canaccord’s own Martin Pelletier reiterated that he’s fond of Grand Petroleum as well, writing that “the company has established some strong drilling momentum on its well diversified asset base….and has also unexpectedly become more oily with some recent light oil discoveries on its Sylvan Lake property”.
It’s better to find oil, these days, with oil at $70.00 then natural gas, which is in the toilet at $6.00 an MCF and Pelletier continues to say that GPP trades at a steep discount at a 4.2 times 2006 debt adjusted cash flow multiple versus the junior E&P in our coverage universe trading at 6.7 times….
Pelletier maintains a “buy” recommendation with a $6.50 target which given its current weaker price, makes it something to be looking at. |
