New Claymore Resources Message Board

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Gold/Mining/Energy : New Claymore Resources

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To: The-Saint who wrote (339)	7/19/1998 1:55:00 PM
From: Just Wayne	Read Replies (1) of 531

A valid question. I think there might be two explanations. Drilling is expensive. I believe they still have at least 6 100% owned properties within the Buffalo Hills area though this number is based on my April map. Their current funds can be almost eaten up with the upcoming drilling program on the Figaro. A full exploration and drilling program on the remaining 100% owned properties could easily eat through the million. The second argument might be that they are looking to the future. What if (dread the thought) the whole Alberta diamond play turns out to be a bust? It would be nice to have a nest egg in the bank to allow the company to survive to fight another day. Remember, Claymore has been around since the 70's and has seen many a boom and bust cycle. How many of these other companies can say that? To answer your question, to raising money now seems to me to be smart and conservative planning. My two bits Wayne

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