TABLE OF CONTENTS
Gold Fundamentals ........................................................................................................ 3
Breaking down Gold Supply..................................................................................... 4
The role of Central Banks in relation to gold supply ........................................... 5
Deciphering Gold Demand ...................................................................................... 6
Price Outlook .............................................................................................................. 7
Gold Equities Watch List ............................................................................................10
Alamos Gold (TSX: AGI) ...........................................................................................12
Anatolia Minerals (TSX: ANO) ..................................................................................15
Brett Resources (TSX-v: BBR) ...................................................................................18
Gold Wheaton Corp. (TSX-v: GLW) ........................................................................20
International Tower Hill Mines (TSX-v: ITH) ........................................................23
Jaguar Mining (TSX: JAG) ..........................................................................................25
Keegan Resources (TSX: KGN) ................................................................................28
Lake Shore Gold (TSX: LSG) .....................................................................................30
Luna Gold (TSX-v: LGC) ...........................................................................................33
Minefinders (TSX: MFL) .............................................................................................35
Orvana Minerals (TSX: ORV) ....................................................................................38
Premier Gold (TSX: PG) .............................................................................................41
Red back Mining (TSX: RBI) ......................................................................................44
Rubicon Minerals (TSX: RMX) ..................................................................................47
San Gold (TSX-v: SGR) ..............................................................................................49
Semafo (TSX: SMF) .....................................................................................................52