RE: Toronto hedge fund managers, I don't think we will be waiting much longer according to this report. Excerpt:
Gold and Base Metal Plays: Jerome Hass and Jimmy Chu
Toronto-based hedge fund managers Jerome Hass and Jimmy Chu of Lightwater Partners discuss their strategic approach to taking long positions on gold, zinc and tungsten opportunities around the world. In an exclusive interview with The Gold Report, the Lightwater principals reveal several precious and base metal plays in which they have purchased stakes and define their criteria for limiting risks when taking on junior mining investments.
TGR: What about base metal mine development? Does that sector fit your risk-adjusted portfolio?
JC: We tend to shy away from base metals, with the exception being a small company that is a pure play on zinc. That's Tamerlane Ventures Inc. (TAM:TSX.V). It owns a zinc-lead mine called Pine Point in the Northwest Territories. It's a restart of a mine that was operated by Cominco Ltd., which is now owned by Teck Resources Ltd. (TCK:NYSE; TCK.A:TSX).
TGR: Pine Point was closed, but it is now being revitalized? How so?
JC: Teck had shut down the mine because it had developed its Red Dog mine, which is one of the world's most prolific high-grade zinc mines. There's no question that Red Dog is the better ore body, but Pine Point is also attractive based on its fundamentals and valuations. It will provide an independent source of zinc concentrate, which is very much in global demand by both smelters and traders.