【出版时间及名称】：2010年4月全球金属与矿产行业研究报告
        【作者】：CORMARKS证券
        【文件格式】：pdf
        【页数】：64
        【目录或简介】：
Demand To Strengthen, Supply Is Tight: As
industrial consumption for base and specialty metals recovers
and investment demand for precious metals intensifies, new
sources of mine supply are unlikely to keep pace with the
global demand growth for metals and minerals.
Value Creation Through Exploration: The supplydemand
imbalance over the mid and longer terms should
support a sustained period of high metals prices. In this
environment, capital will begin to flow to the next phase of
mining projects and companies, specifically, those in the
exploration and development stage.
The Prospects Presented: The smaller cap prospects
outlined in this report have interesting early stage projects
well positioned to meet the pending/continuing commodity
supply shortfall and potentially create shareholder value in the
process.
Base Metals: Sym. Pg. Precious Metals Cont'd: Sym. Pg.
Antares Minerals ANM 5 Oromin Exploration OLE 33
􀂋Candente DNT 7 􀂋 PC Gold PKL 35
Copper Mountain CUM 9 Pediment Gold PEZ 37
Coro Mining COP 11 Riverstone Resources RVS 39
Franconia FRA 13 􀂋 Sandspring Resources SSP 41
Mines Management MGT 15 Victoria Gold VIT 43
Nevada Copper NCU 17 Levon Resources LVN 45
NGEx NGQ 19 US Gold UXG 47
Western Copper WRN 21 Valley High Ventures VHV 49
Precious Metals: Sym Pg. Specialty Metals: Sym Pg.
Cadan Resources CXD 23 􀂋 Magma Metals MMW 51
Carpathian Gold CPN 25 Marathon PGM MAR 53
Clifton Star Resources CFO 27 Peregrine Diamonds PGD 55
East Asia Minerals EAS 29 􀂋Canada Lithium CLQ 57
􀂋Lydian International LYD 31 􀂋 Orocobre ORE 59
Rodinia Minerals RM 61

In this, our second edition of our Mining and Exploration Prospects report, we present
some of what we view as the more interesting emerging stories in the base and precious
metals market today. As noted before, the list is by no means complete and we have
restricted it to 30 names to be manageable. As such, there are many other high quality
prospects out there.
As we indicated in our initial report, we believe ongoing demand trends will require an
increased commitment to build additional production capacity in the coming years as the
emerging markets, namely China and India, continue to industrialize. We believe a lack
of committed and developed new projects are set to keep metal prices high and be
supportive of new developers as they work to move projects toward production. This
report aims to provide investors with development stories that are positioned to fill this
void, assuming exploration efforts continue to support further advancement.
In this edition, we have had five deletions and seven new names added as outlined below.
We expect names to come on and off of the list for a variety of reasons, such as,
movement to full research coverage, the catalyst events proved less promising than
originally anticipated, production has commenced, market capitalization has grown
significantly or the company has entered into joint venture type arrangement with a major
producer thus, in our view, removing it from a small-cap prospects list, which by
definition is more speculative in nature. We plan to review our list every six months at a
minimum to ensure the names continue to support the underlying thesis of being our Top
Prospects. That said, removal from the list does not necessarily mean the investment
merits have been reduced, just that we see other opportunities entering the market.