The International Speculator, in its Sept. 25, 2015, issue, says buy Newmarket Gold Inc. at $1.25, officially, "Buy first tranche." This is the newsletter's first buy of the former Crocodile Gold. The writer calls Australia-focused Newmarket "deeply undervalued." The writer blames its low price on investor fatigue and the fact that more than half of the shares are locked up in one large institutional shareholder. Mostly, he adds, that while the company had strong operational managers, it lacked promotional savvy. The writer has high hopes for Doug Forster, the new chief executive officer; Mr. Forster's board includes "legendary" promoter Lukas Lundin. The company has just under a million ounces of gold in mining reserves, but it has another 4.8 million ounces measured and indicated, plus another two million inferred. The main project is Fosterville, which is on track to exceed projected gold production of 100,000 to 105,000 ounces. The average grade is 5.84 grams per tonne. The official mine life is only four years but the actual mine life is several times that. The writer commends Newmarket's quality of operations, its low-cost mining methods and the high recoveries the company is achieving. Do not pay above $1.30, he says.