Short Position Report

Short positions outstanding at Dec.15/14 (with changes from Nov.30/14).

TSX Short Positions                
                 
Largest Short Positions                
                 
Security Ticker Total Short Change          
Lundin Mining  LUN 54910998 -1032337          
New Gold  NGD 32535605 -76596          
PotashCorp  POT 26560975 -2463249          
Detour Gold  DGC 22129778 2649209          
Kinross Gold  K 19148380 -13486135          
B2Gold  BTO 16314264 -3778401          
Yamana Gold  YRI 14724549 -6249403          
Silver Wheaton  SLW 13984517 105882          
Argonaut Gold  AR 13844619 -308099          
Barrick Gold  ABX 13814738 2142784          
Eldorado Gold  ELD 11689814 -5116194          
Thompson Creek Mtls  TCM 11523343 1071595          
First Majestic Silver  FR 11298284 -273207          
First Quantum  FM 9288886 -3590886          
Dundee Prec. Mtls DPM 8635383 -1682710          
                 
Largest Increase in Short Position                
                 
Security Ticker Total Short Change          
Ivanhoe Mines  IVN 6382856 4853965          
Detour Gold  DGC 22129778 2649209          
Alacer Gold  ASR 2920956 2516166          
Barrick Gold  ABX 13814738 2142784          
Rio Alto Mining  RIO 8338318 1208475          
                 
Largest Decrease in Short Position                
                 
Security Ticker Total Short Change          
Tahoe Res.  THO 367850 -13776116          
Kinross Gold  K 19148380 -13486135          
Teck Res.  TCK.B 8477367 -7832600          
Yamana Gold  YRI 14724549 -6249403          
Eldorado Gold  ELD 11689814 -5116194          
                 
TSX Venture Short Positions                
                 
Largest Short Positions                
                 
Security Ticker Total Short Change          
Sarama Res.  SWA 417000 311000          
Atlantic Gold  AGB 400000 397000          
Niocorp Dev.  NB 384800 202564          
Graphite One Res.  GPH 310000 -51500          
Zenyatta Ventures  ZEN 309900 38391          
Ryan Gold  RYG 271000 271000          
Roxgold  ROG 263700 938          
Artha Resources  AHC 250000 250000          
Metanor Res.  MTO 218100 218000          
Barisan Gold  BG 182000 182000          
Mason Graphite  LLG 157400 -5000          
Northern Graphite  NGC 124900 -5452          
Bear Creek Mining  BCM 109100 -44450          
Focus Ventures  FCV 103000 103000          
Phoenix Gold  PXA 100000 0          
                 
Largest Increase in Short Position                
                 
Security Ticker Total Short Change          
Atlantic Gold AGB 400000 397000          
Sarama Res. SWA 417000 311000          
Ryan Gold RYG 271000 271000          
Artha Resources AHC 250000 250000          
Metanor Res. MTO 218100 218000          
                 
Largest Decrease in Short Position                
                 
Security Ticker Total Short Change          
African Queen Mines  AQ 0 -400000          
Tyhee Gold  TDC 0 -392000          
Viscount Mining  VML 4000 -300000          
Taku Gold  TAK 0 -300000          
Hard Creek Nickel  HNC 0 -210000          
                 
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