Top 20 advisors: Adrian Day views Vista Gold

Last December, over 100 stocks were featured in our Top Picks for 2007 report. Now, at mid-year, we turn to the 20 advisors whose picks showed the strongest gains to get an update on their previous picks, as well as a new favorite stock for the second half of the year.

Adrian Day, editor of the Global Analyst, chose Virginia Mines Inc. (TSE: VGQ) as his favorite stock for 2007, which rose 31% as of 6/1/07. Here's Adrian's original recommendation on Virginia Mines and his current opinion on the stock.

His new favorite for the rest of 2007 is -- like Virginia -- a "gold company with a difference." His new pick is Vista Gold Corp. (ASE: VGZ). He explains, "During the early 2000s, when the price of gold was weak, Vista acquired known gold resources, but ones that were uneconomic at the time.

"This enabled it to build reserves inexpensively, and rather than mining them when the price was low, it held on to the gold in the ground, building value as the price of bullion appreciated.

"Now Vista has 12 properties around the world in various stages of development, some economic at today's higher price. Together, it has over 13 million ounces of resource (proven, probable, and indicated), valued at just over $20 per ounce in the ground -- very cheap.

"In addition to the considerable exploration potential at many of its properties, it also has $20 million in cash. With strong leverage to rising gold prices, we would buy Vista as an option on gold, but one without an expiration date."