Brien Lundin, in the August, 2014, edition of the Gold Newsletter, downgrades Kaminak Gold Corp. (recently 97 cents) to a hold from a buy. Mr. Lundin first said buy in January, 2010, at 59 cents. He then said take some profits -- perhaps sell half -- in July, 2010, at $1.54. Assuming a $1,000 investment for the buy, selling half at $1.54 yielded a profit of $757. Mr. Lundin said buy seven more times between August, 2010, and March, 2014, at prices ranging from 85 cents to $4.22. Assuming a $1,000 investment for each of the seven new buys, and taking into account the $500 investment left after the half sale, the $7,500 position is now worth $4,968. Kaminak has closed a $13.5-million private placement of 16.9 million units at 80 cents, with each unit comprising one share and one half-warrant. Although the financing is dilutive, says Mr. Lundin, it will allow Kaminak to complete a feasibility study on its main Coffee project in the Yukon over the next 12 to 18 months. The $13.5-million will be enough for phase I of the study, which will include 70,000 metres of infill drilling among other testwork. There will not be much market-moving news while Kaminak carries out the study, says the editor. Hold for now.