Below is a list of Pinetree's disclosed investees by name, as at December 31, 2012. | Issuer | Security Description | Cost | Fair
Value | % of
Sector
(FV) | African Gold Group Inc.
AGG:TSXV
Precious Metals | 16,550,000 common shares
| 6,148 | 3,641 | 2.5 | Americas Petrogas Inc.
API:TSXV
Oil & Gas | 3,775,000 common shares
| 7,828 | 11,325 | 37.2 | Apogee Silver Ltd.
APE:TSXV
Precious Metals | 15,000,000 common shares
| 2,636 | 1,200 | 0.8 | Argentum Silver Corp.
ASL:TSXV
Precious Metals | 10,090,910 common shares
| 1,532 | 1,312 | 0.9 | Azimuth Resources Limited
AZH:ASX
Precious Metals | 22,500,000 common shares
| 5,738 | 5,118 | 3.5 | Brownstone Energy Inc.
BWN:TSXV
Oil & Gas | 13,050,220 common shares
1,369,110 warrants expire Apr 13, 2014 | 10,161 | 2,741 | 9 | BSM Technologies Inc.
GPS:TSXV
Technology and Other | 1,000,300 common shares
| 853 | 1,290 | 8.7 | Caledonia Mining Corporation
CAL:TSX
Precious Metals | 53,000,000 common shares
| 7,557 | 4,770 | 3.3 | Canada Lithium Corp.
CLQ:TSX
Potash, Lithium and Rare Earths | 6,000,000 common shares
| 3,066 | 3,900 | 14.1 | Canadian Orebodies Inc.
CO:TSXV
Base Metals | 17,502,000 common shares
750,000 warrants expire Dec 28, 2013
500,000 warrants expire May 18, 2013
1,000,000 warrants expire Jun 4, 2014
1,000,000 warrants expire Dec 15, 2013 | 3,999 | 2,168 | 7 | Coro Mining Corp.
COP:TSX
Base Metals | 13,566,000 common shares
| 6,467 | 2,645 | 8.5 | Donnybrook Energy Inc.
DEI:TSXV
Oil & Gas | 14,000,000 common shares
| 5,225 | 1,750 | 5.8 | Energy Fuels Inc.
EFR:TSX
Uranium | 16,000,552 common shares
500,000 warrants expire Mar 31, 2015
2,816,000 warrants expire Jun 21, 2015 | 9,884 | 2,720 | 14.4 | Euromax Resources Ltd.
EOX:TSXV
Precious Metals | 4,401,133 common shares
83,333 warrants expire Jan 13, 2014 | 4,001 | 2,421 | 1.7 | European Uranium Resources Ltd.
EUU:TSXV
Uranium | 5,769,770 common shares
500,000 warrants expire Nov 6, 2013
750,000 warrants expire Mar 15, 2013 | 5,882 | 1,385 | 7.3 | Evolving Gold Corp.
EVG:TSX
Precious Metals | 6,900,000 common shares
2,000,000 warrants expire Aug 13, 2015 | 2,539 | 1,277 | 0.9 | Gold Canyon Resources Inc.
GCU:TSXV
Precious Metals | 17,000,000 common shares
22,778,000 common shares
750,000 warrants expire Nov 17, 2013
1,750,000 warrants expire Mar 8, 2014 | 12,354 | 17,170 | 11.8 | Happy Creek Minerals Inc.
HPY:TSXV
Base Metals | 6,912,500 common shares
500,000 warrants expire May 14, 2013
500,000 warrants expire Dec 21, 2013 | 2,589 | 1,486 | 4.8 | International Northair Mines Ltd.
INM:TSXV
Precious Metals | 7,249,500 common shares
500,000 warrants expire Dec 28, 2013 | 2,859 | 1,957 | 1.3 | Kilo Goldmines Ltd.
STA:TSXV
Precious Metals | 12,500,500 common shares
1,000,000 warrants expire May 12, 2013 | 3,046 | 1,125 | 0.8 | Latin American Minerals Inc.
LAT:TSXV
Precious Metals | 16,700,000 common shares
1,000,000 warrants expire Mar 10, 2013
1,000,000 warrants expire Apr 5, 2013 | 6,763 | 1,670 | 1.2 | Lithium Americas Corp.
LAC:TSX
Potash, Lithium and Rare Earths | 5,800,000 common shares
$750,000 debenture
500,000 warrants expire Jan 6, 2015 | 8,707 | 5,796 | 20.9 | Longreach Oil and Gas Limited
LOI:TSXV
Oil & Gas | 1,717,860 common shares
| 2,750 | 1,012 | 3.3 | Macarthur Minerals Ltd.
MMS:TSXV
Base Metals | 7,500,000 common shares
500,000 warrants expire Jan 3, 2013 | 9,477 | 3,750 | 12.1 | Macusani Yellowcake Inc.
YEL:TSXV
Uranium | 17,750,633 common shares
500,000 warrants expire Mar 25, 2013 | 10,421 | 2,310 | 12.2 | Matamec Explorations Inc.
MAT:TSXV
Potash, Lithium and Rare Earths | 14,250,001 common shares
| 4,696 | 2,280 | 8.2 | Mawson Resources Limited
MAW:TSX
Precious Metals | 3,750,000 common shares
| 2,985 | 5,550 | 3.8 | Mega Precious Metals Inc.
MGP:TSXV
Precious Metals | 14,496,100 common shares
250,000 warrants expire Nov 9, 2013
750,000 warrants expire Mar 22, 2014 | 8,053 | 3,407 | 2.3 | Mega Uranium Ltd.
MGA:TSX
Uranium | 13,150,000 common shares
1,500,000 warrants expire Oct 26, 2014 | 15,086 | 1,527 | 8.1 | Nighthawk Gold Corp. (formerly Merc International Minerals Inc.)
MRK:TSXV
Precious Metals | 7,350,000 common shares
875,000 warrants expire Mar 7, 2013
1,000,000 warrants expire Sep 21, 2013 | 2,253 | 1,066 | 0.7 | Opel Technologies Inc.
OPL:TSXV
Technology and Other | 4,000,000 common shares
1,000,000 warrants expire Sep 27, 2015
2,500,000 warrants expire Sep 13, 2015 | 989 | 3,083 | 20.9 | Oroco Resource Corp.
OCO:TSXV
Precious Metals | 7,700,000 common shares
500,000 warrants expire Apr 26, 2013
500,000 warrants expire May 23, 2013
500,000 warrants expire Sep 5, 2013
500,000 warrants expire Jun 12, 2014 | 2,141 | 1,333 | 0.9 | Osisko Mining Corp.
OSK:TSX
Precious Metals | 3,391,050 common shares
| 15,426 | 26,925 | 18.5 | Potash Ridge Corp.
PRK:TSX
Potash, Lithium and Rare Earths | 8,000,000 common shares
1,250,000 warrants expire Dec 5, 2014 | 2,200 | 5,033 | 18.1 | Powertech Uranium Corp.
PWE:TSX
Uranium | 10,710,000 common shares
| 3,959 | 1,332 | 7.1 | Primary Petroleum Corp.
PIE:TSX
Oil & Gas | 17,250,000 common shares
| 5,584 | 2,588 | 8.5 | Redstar Gold Corp.
RGC:TSXV
Precious Metals | 11,808,000 common shares
1,000,000 warrants expire Jul 14, 2013
500,000 warrants expire Jun 20, 2014 | 3,060 | 1,875 | 1.3 | Sanatana Resources Inc.
STA:TSXV
Precious Metals | 7,850,000 common shares
500,000 warrants expire Jul 12, 2013 | 4,598 | 2,041 | 1.4 | Soltoro Ltd.
SOL:TSXV
Precious Metals | 4,301,500 common shares
| 2,870 | 2,151 | 1.5 | Stans Energy Corp.
RUU:TSXV
Potash, Lithium and Rare Earths | 12,361,000 common shares
250,000 warrants expire Apr 28, 2013 | 8,653 | 5,068 | 18.3 | Talon Metals Corp.
TLO:TSX
Base Metals | 5,250,000 common shares
| 4,276 | 1,785 | 5.7 | Temex Resources Corp.
TME:TSXV
Precious Metals | 11,165,500 common shares
750,000 warrants expire Oct 11, 2014 | 4,713 | 2,834 | 2 | U308 Corp.
UWE:TSXV
Uranium | 12,274,771 common shares
500,000 warrants expire Feb 9, 2014
441,250 warrants expire Feb 15, 2013 | 6,642 | 2,639 | 14 | Unigold Inc.
UDG:TSXV
Precious Metals | 22,778,000 common shares
750,000 Warrants expire Nov 17, 2013
1,750,000 Warrants expire Mar 08, 2014 | 6,942 | 9,296 | 6.4 | Vanoil Energy Ltd.
VEL:TSXV
Oil & Gas | 4,650,000 common shares
500,000 warrants expire Oct 6, 2013
500,000 warrants expire Aug 2, 2014 | 2,323 | 2,465 | 8.1 | |