Short Position Report

Short positions outstanding at Jan. 15/16 (with changes from Dec.31/15).

TSX Short Positions                
                 
Short positions outstanding at Jan. 15/16 (with changes from Dec.31/15).
                 
Largest Short Positions                
                 
Security Ticker Total Short Change          
First Quantum  FM 43209093 4578417          
Lundin Mining  LUN 34297322 357043          
PotashCorp  POT 32023016 4343030          
New Gold   NGD 26227284 982568          
B2Gold  BTO 23277508 853419          
Yamana Gold. YRI 20351484 4084459          
Kinross Gold  K 19096898 3985590          
Barrick  ABX 16342752 2109091          
Eldorado Gold  ELD 14347554 2971552          
Teck Resources  TCK.B 11379352 87281          
Iamgold  IMG 9699306 1490218          
Paramount Res.  POU 9031790 390395          
Thompson Crk Mtl  TCM 8779037 77211          
Goldcorp  G 8639297 1790795          
Hudbay Minerals  HBM 7717654 884414          
                 
Largest Increase in Short Position                
                 
Security Ticker Total Short Change          
First Quantum  FM 43209093 4578417          
PotashCorp  POT 32023016 4343030          
Yamana Gold  YRI 20351484 4084459          
Kinross Gold  K 19096898 3985590          
Eldorado Gold ELD 14347554 2971552          
                 
Largest Decrease in Short Position                
                 
Security Ticker Total Short Change          
Rubicon Minerals  RMX 2483166 -1705300          
Namibia Rare Earths  NRE 0 -1687000          
Denison Mines  DML 1176271 -1194214          
Torex Gold  TXG 6811513 -751958          
Ur-Energy  URE 1936750 -694329          
                 
TSX Venture Short Positions                
                 
Short positions outstanding at Jan. 15/16 (with changes from Dec.31/15).
                 
Largest Short Positions                
                 
Security Ticker Total Short Change          
Gold Reserve  GRZ 705600 600          
First Mining Finance  FF 561300 560813          
Iberian Minerals  IML 314200 155000          
Minaurum Gold         MGG 258000 249300          
Equitas Res.  EQT 257141 -10400          
Nexgen Energy  NXE 223162 47818          
Dajin Res.  DJI 180700 133500          
Golden Dawn Min.  GOM 178000 -15100          
Zenyatta Ven.  ZEN 173918 -3463          
Lithium X Energy  LIX 136700 36700          
Northern Graphite  NGC 127100 89366          
Peruvian Prec. Mtl  PPX 126000 126000          
Alx Uranium  AL 100000 0          
Montan Mining  MNY 93000 48000          
Nevada Sunrise Gold  NEV 92500 17500          
                 
Largest Increase in Short Position                
                 
Security Ticker Total Short Change          
First Mining Finance FF 561300 560813          
Minaurum Gold   MGG 258000 249300          
Iberian Minerals IML 314200 155000          
Dajin Res.  DJI 180700 133500          
Peruvian Prec. Mtl  PPX 126000 126000          
                 
Largest Decrease in Short Position                
                 
Security Ticker Total Short Change          
East Asia Minerals  EAS 0 -1049000          
Uragold Bay Res.  UBR 600 -587800          
Silver Range Res.  SNG 0 -318000          
Bayswater Uranium  BYU 0 -250000          
Oroco Res.  OCO 0 -230000          
                 
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