Agnico Eagle: 3 mines operating & 3 new gold mines soon.

Gold production to double to 590,000 ounces in 2009, double again to 1.2 million ounces in 2010.

Message: NP says Palos keen on Genivar and Agnico-Eagle

NP says Palos keen on Genivar and Agnico-Eagle

posted on Jan 06, 2009 05:50AM

NP says Palos keen on Genivar and Agnico-Eagle

2009-01-06 09:30 ET - In the News

See In the News (C-GNV) Genivar Income Fund

The National Post reports in its Tuesday edition that Charles Marleau and Tommy Nguyen of Palos Management seek out companies whose balance sheets are strong and have qualities that could benefit stockholders in the short term. The Post's David Pett writes in the Trading Desk column the investment process is supplemented by the firm's proprietary quantitative model. The team is bullish on engineering services company, Genivar Income Fund. They say it should benefit from a strong acquisition strategy that will help drive growth and increased government infrastructure spending this year and next. They continue to like consumer staple stocks like Coca Cola and McDonalds, both of whom should profit from low commodity costs in 2009. Longer term, they recommend Agnico-Eagle Mines. "We expect Agnico to increase annual output by five fold from current production of 250,000 ounces by 2010," they said. "It recently completed a $290-million equity financing and has all the money it needs to fund its projects going forward." Jean-Francois Tardif of Sprott Asset Management was bullish on Genivar in the Trading Desk column on Nov. 11 when the units were trading at $19.99. The units closed Monday at $24.45.

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