Cadre Resources (CSL.V) Awaiting production #'s and Financ Message Board

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Gold/Mining/Energy : Cadre Resources (CSL.V) Awaiting production #'s and Financ

CSL 303.76

+0.8%

Nov 19 4:00 PM EST

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To: Francis R. Biscan Jr. who wrote (566)	6/9/1999 3:13:00 PM
From: Claude Cormier	Read Replies (2) of 1285

<<The cash flow from the project works out to $64,644,104 U.S. or $10.77 U.S. per share, based on 6 million shares FD. Of course there will be either share or project dilution if a JV is undertaken.>> On that basis, given Martin Marietta letter of intent, Teck should proceed as this is big enough for them. Me think. Assuming this goes and Cadre end up with only 25% interest. This could mean annual cash flows of US$ 15M to Cadre.. or $C3.00-$4.00+ per share and a stock price of $15-$20. This seems to me like a high speculation but one with a reward that makes the risk wortwhile.

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