Short Position Report

TSX Short Positions                
                 
Short positions outstanding at Dec. 31/15  (with changes from Dec. 15/15).
                 
Largest Short Positions                
                 
Security Ticker Total Short Change          
First Quantum FM 38630676 453176          
Lundin Mining  LUN 33940279 -581562          
PotashCorp  POT 27679986 967864          
New Gold  NGD 25244716 -508002          
B2Gold  BTO 22424089 -2428770          
Yamana Gold  YRI 16267025 2862286          
Kinross Gold  K 15111308 -307945          
Barrick Gold  ABX 14233661 1561613          
Eldorado Gold  ELD 11376002 211601          
Teck Resources TCK.B 11292071 177106          
Thompson Creek Mtls TCM 8701826 -77411          
Paramount Res.  POU 8641395 -432581          
Iamgold  IMG 8209088 336704          
Torex Gold  TXG 7563471 -162178          
Argonaut Gold  AR 7278733 -12217          
                 
Largest Increase in Short Position                
                 
Security Ticker Total Short Change          
Yamana Gold  YRI 16267025 2862286          
Goldcorp  G 6848502 1576133          
Barrick Gold  ABX 14233661 1561613          
Lake Shore Gold  LSG 5425520 1175620          
PotashCorp  POT 27679986 967864          
                 
Largest Decrease in Short Position                
                 
Security Ticker Total Short Change          
Platinum Group Mtls  PTM 905911 -9114763          
Semafo  SMF 897934 -2464570          
B2Gold  BTO 22424089 -2428770          
Rubicon Minerals  RMX 4188466 -2014300          
Centerra Gold  CG 482083 -1648014          
                 
TSX Venture Short Positions                
                 
Short positions outstanding at Dec. 31/15  (with changes from Dec.15/15).
                 
Largest Short Positions                
                 
Security Ticker Total Short Change          
East Asia Minerals  EAS 1049000 0          
Gold Reserve  GRZ 705000 91400          
Uragold Bay Res.  UBR 588400 588400          
SILVER Range Res.  SNG 318000 -332000          
Equitas Res.  EQT 267541 116541          
Bayswater Uranium  BYU 250000 250000          
Oroco Res.  OCO 230000 230000          
Aura Silver Res.  AUU 214000 214000          
Alexandria Min.  AZX 212000 212000          
Golden Dawn Min.  GOM 193100 23100          
Zenyatta Ventures  ZEN 177381 -23935          
Fission 3.0  FUU 177122 100122          
Nexgen Energy  NXE 175344 -98156          
Iberian Minerals  IML 159200 157100          
Savary Gold  SCA 155000 155000          
                 
Largest Increase in Short Position                
                 
Security Ticker Total Short Change          
Uragold Bay Res.  UBR 588400 588400          
Bayswater Uranium  BYU 250000 250000          
Oroco Res.  OCO 230000 230000          
Aura Silver Res.  AUU 214000 214000          
Alexandria Minerals  AZX 212000 212000          
                 
Largest Decrease in Short Position                
                 
Security Ticker Total Short Change          
Arctic Star Exploration  ADD 8000 -1825000          
Majestic Gold  MJS 0 -948000          
GTA Res. and Mining  GTA 0 -400000          
Maya Gold & Silver  MYA 92500 -368000          
Silver Range Res.  SNG 318000 -332000          
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