(Every week, Business Edge columnist Gyle Konotopetz profiles the top three picks of one of Canada’s most accomplished investment pros.)

FEATURED PRO:
John Ing is president of Toronto-based Maison Placements, which specializes in resource stocks. Ing is the firm’s gold specialist.

Ing’s Perspective: “I think that after a 20-year bear market, gold is just at the beginning of a new bull market. The recent correction (in prices of gold stocks) is the first decent correction we’ve had on this run, but I think it’s offering a great purchase opportunity. The corrections, I believe, will be brief and I welcome the corrections. “I think the combination of the weakening U.S. dollar and reduction of hedging in the industry will likely mean that the gold price will be $375 (US per ounce) near term and $510 over the intermediate term of about a year and a half.”

Gold market risks: “There is always a threat of central bank selling of gold. The central banks are the largest holders of gold. But I think central banks are reluctant to sell into a rising gold market because they can look so foolish, as they have in the past.”

FIRST STAR:
* Kinross Gold (K-TSX)
* Recent Price: $3.30.
* 12-Month Range: $0.95-$4.44.
* Snapshot: Kinross is in the process of becoming the seventh-largest gold producer in the world with its recent acquisition of Edmonton-based Echo Bay Gold and TVX Gold. Kinross’s own operations include three flagship mines – in Alaska, Ontario and the Russian Far East.
* CEO: Robert Buchan.
* Head Office: Toronto (2,691 employees).
* Vital Stats: Revenue (last 12 mos), $430.0 million; 5-Yr Revenue Growth, 11.1%; Profit/Loss (last 12 mos), $58.7 million loss; Market Cap, $1.3 billion; Shares Outstanding, 334.7 million.
* Ing’s Comment: “I think the Kinross acquisition (of Echo Bay Gold and TVX Gold) is a case of the sum being worth more than the parts. All three gold mines individually were having trouble getting significant investor attention because of bigger producers like Newmont and Barrick. The end company will be producing about two million ounces, will have a resource to ensure at least two or three new mines and, most importantly, the stock valuation of Kinross went down on the news. I think investors have lost sight of the advantages of the deal.”
* Ing’s Risk Rating: Low.
* Web watch: www.kinross.com

SECOND STAR:
* Agnico-Eagle Mines (AGE-TSX)
* Recent Price: $23. (Ing also made Agnico-Eagle one of his top three picks on March 21 when it was trading at $17.52).
* 12-Month Range: $9.90-$25.40. Snapshot: Agnico-Eagle is a gold producer with Canadian-based properties. Its producing mines are primarily in northwestern Quebec and it also has exploration properties in Quebec and Ontario.
* CEO: Sean Boyd.
* Head Office: Toronto (397 employees).
* Vital Stats: Revenue (last 12 mos), $148.7 million; 5-Yr Revenue Growth, 8.3%; Profit/Loss (last 12 mos), $5 million loss; Market Cap, $1.6 billion; Shares Outstanding, 67.1 million.
* Ing’s Comment: “For this year, Agnico will produce 340,000 ounces, which is up from 230,000 ounces last year, so it’s one of the few gold producers with a rising production profile. It also has a potential to increase those reserves, which would be a big plus.”
* Ing’s Risk Rating: Low.
* Web watch: www.agnico-eagle.com

THIRD STAR:
* Meridian Gold (MNG-TSX)
* Recent Price: $25.40.
* 12-Month Range: $12.06-$27.59.
* Snapshot: Meridian is a gold producer focused on growing its reserves at its properties in North America and South America.
* CEO: Brian Kennedy.
* Head Office: Reno, Nev. (380 employees).
* Vital Stats: Price/Earnings Ratio, 33.8; Revenue (last 12 mos), $183.7 million; 5-Yr Revenue Growth, 14.8%; Profit (last 12 mos), $61.6 million; Market Cap, $2.1 billion; Shares Outstanding, 75.9 million.
* Ing’s Comment: “I like the fact that Meridian will have a new mine in late 2004 to early 2005 as a result of its acquisition two months ago of a company called Brancote, which has a potential mine in Argentina. That comes at an ideal time because that’s when their main mine will be running down on reserves.”
* Ing’s Risk Rating: Low.
* Web watch: www.meridiangold.com
* Ing’s Record (with March 21 picks): +45% (Agnico-Eagle +45%, Eldorado Gold +88%, Krystallex International +17%).
* Disclosure: Ing says he does not hold positions in the stocks he covers.