Lunch with various broker analysts last Friday and...

Lunch with various broker analysts last Friday and subsequent:-

If you want gold, stick to West Africa, with Perseus the favourite. If you cannot consider anything offshore, Integra (IGR) and Ramelius (RMS) appear the favourites.

Base metals with a copper emphasis, there is nothing onshore representing value at the moment. Go offshore and have a good look at Intrepid (IAU)or maybe Romblon (ROL).

Aluminium-just had a long discussion with a smelter expert=avoid the sector.

Iron ore- there is way too much capacity.

Rare earths are not rare!

Given the current market buoyancy, fundamentals/management capabilities are being ignored for the time being. Have fun anyway but do not be surprised to wake up in May being a few sheckles the worse for wear!

Cheers, TAS

In terms of disclosure I remain exposed to the yellow stuff coz I am anal when it comes to global economies.