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Gold/Mining/Energy : Gold and Silver Mining Stocks
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To: russwinter who wrote (360)7/2/2000 5:48:21 PM
From: Gord Bolton   of 4051
 
From the CRJ.TO annual report;

The Seabee mine, Claude's flagship asset, is expected to have an excellent year with total production costs under US $240 per ounce. The resulting free cash flow from Seabee is available to advance development on Claude's other assets, most notably the Madsen mine. Claude expects to have completed dewatering and rehabilitation of the Madsen mine by the end of the second quarter of 2000 and will initiate exploration drilling on the historic, high-grade No. 8 Zone in the third quarter. The timing and nature of additional development at the Madsen mine will depend on the success of this exploration program and the future price of gold.

The Company also expects to undertake an underground bulk sample at its Amisk/Tartan Lake project, subject to available funding.

Oil and gas revenue continues to provide significant cash flow for Claude. The Company expects free cash flow from oil and gas to cover most, if not all, of Claude's general and administrative costs.

Claude Resources has an attractive undeveloped asset base which gives the Company confidence that it can continue to build shareholder value for the foreseeable future.

clauderesources.com

The #8 zone referred to has been drilled through before. There is realistic hope for multi-ounce per tonne intersections. CRJ.TO is currently trading near a multi year low.
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