1918 NEWS, GOLDMAN SACHS AND A TORONTO STORYTELLER

Here is a special Remembrance Day YSK edition for you – hope you’re getting some

down time today.

Goldman Sachs on Wednesday came out with a bullish “buy” report on the Canadian dollar. The US investment bank is bullish on oil and likes our currency’s exposure to it, and is also favouring Canada as a hedge against an increasingly strong inflation outlook. Precious metals are part of that mix.

Oil & Gas:

Surge Energy SGY-T Mkt Cap CDN $380 million – fast-growing, medium/light oil play in Alberta and south-east Saskatchewan, high netbacks and low corporate decline, excellent leverage to oil prices and strong free cash flow profile.
Pine Cliff Energy PNE-V Mkt Cap CDN $265 million - highest leverage to natural gas of any Canadian producer, one of the lowest production decline rates in the sector, generating free-cash-flow yield in a range near 30%.
ROK Resources ROK-V Mkt Cap $16 million – executing a private-entity M&A strategy with light oil and gas assets in a prolific area of south-eastern Saskatchewan. Management team with four successful company exits in the area between 2009 – 2018.

Precious Metals

Nomad Royalty NSR- T Mkt Cap CDN $540 million - owns a global portfolio of 15 royalty, stream and gold loan assets of which 8 are currently producing mines. Highest dividend yield in the sector, next generation of mining leadership with strong ESG commitment.
Lucara Diamond Corp LUC-T Mkt Cap $285 million – owns one of the world’s most prolific diamond mines and has launched a “Shopify”-like platform that will be a disruptor in the global diamond marketing sector.
Integra Resources ITR-V Mkt Cap CDN $180 million – developing a strong gold-silver project in Idaho; management team with a track record of success, value creation will attract significant interest in the next round of gold sector M&A activity.

Thanks so much for your continued interest and support.

Rick Peterson

President

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