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. It rose 31% as of 6/1/07. Here is Adrian's original recommendation for Virginia Mines and his current favorite stock for the second half of the year.

He now says, "Virginia Mines, is a Canadian resource exploration company, but one with a difference. Although small (with a market cap of less than $150 million), it has about 14 active projects with four current drill programs underway, a lot for a junior company.

"It does this by bringing in partners of its Quebec exploration projects, partners who spend the money. Virginia gives up some upside on any particular project in return for spreading its risk and having a piece of multiple projects. This strategy enables the company to maintain a strong balance sheet, currently about C$45 million.

"The company's active projects include an exploration program adjacent to its recent gold discovery at Eleonore, a property sold last year to Goldcorp. There are early signs that Virginia could find more deposits on this ground. Other prospective projects include a zinc discovery, joint ventured with Breakwater.

"The stock has moved this year from C$4 to the current C$5.70, but it remains inexpensive. The business model is very low risk, while any exploration success will see the stock price higher."

Top 20 advisors: Adrian Day sees golden gains in Virginia originally appeared on BloggingStocks on Mon, 25 Jun 2007 14:02:00 EST. Please see our terms for use of feeds.