In the metals and minerals sector, our analysts target companies involved in the exploration and production of precious metals such as gold, silver, palladium, and platinum. We also target base metals, focusing on growth opportunities in the production of aluminum, copper, lead, nickel and zinc.

Research analysts specializing in the mining sector:

Richard Gray

(416) 864-3645

rpgray@blackmont.com

Richard joined First Associates (now Blackmont) in September 2004. He has 10 years of investment research experience in the Precious Minerals sector, five of them as an analyst. He was previously employed as an analyst at Westwind Partners, where he provided coverage on junior and emerging gold producers. Richard provides research coverage on the gold sector, including senior, intermediate and junior producers, as well as the silver sector.

Richard became a CFA in 2005 and earned his Bachelor of Applied Science (Geological and Mineral Engineering, 1997) from the University of Toronto.

George Topping

(416) 865-2158

gtopping@blackmont.com

George has over 20 years of experience in the mining industry as an analyst in brokerage firms and in management positions for South African mining companies. In the early stage of his career George gained valuable industry experience in production as a supervisor for 5 years with the Gencor Group, a major South African mining company. He moved on to Gold Fields of South Africa, where he developed his financial analysis skills in their Mineral Economics Department where he was responsible for conducting due diligence on possible acquisition targets. In 1995, George moved to the sell-side of the investment industry to work as an analyst for Irish & Menell Rosenberg in South Africa. He moved to Canada in 1997 where he has continued to pursue his career as a sell-side analyst in the base metals and minerals sector, most notably at Sprott Securities from 1999 to 2005.

George’s coverage currently includes an attractive mix of emerging and mid-capitalization companies in the base metals sector, each having a varying degree of exposure to copper, zinc, uranium, and molybdenum.