Corporate Profile
Claude Resources Inc. is a mature and successful gold
mining and oil and gas company trading on the Toronto
Stock Exchange.
The Company has a strong balance sheet, experienced
management and an attractive mix of long-term revenue
generating assets. These critical strengths provide a solid
base for future corporate expansion.
Claude's principal asset has been the Seabee gold mine
located 125 kilometres northeast of La Ronge,
Saskatchewan. This 100% owned and operated mine is in
its seventh year of production and has produced over
300,000 ounces of gold.
On April 6, 1998, Claude acquired Madsen Gold Corp.
located in the prolific Red lake gold camp in northwestern
Ontario. This 10,000 acre (4,000 hectares) property
produced 2.8 million ounces before being closed in 1976.
The Company expects to place the mine into commercial
production in the second half of 1998 with annualized
production of 50-60,000 ounces.
The combined production from the two mines of
100-120,000 ounces annually will establish Claude as a
solid "intermediate" gold producer. Both mines are narrow
vein, high grade underground operations with mining
operations performed by Claude's subsidiary, Centaur
Mining Contractors Corporation. Each of the mines has
approximately 1 million tonnes of proven, probable and
possible reserves with significant upside potential. The
Seabee mine is currently one of the lowest cost producers
in North America and the two mines, combined should
have cash costs in the U.S. $220/oz range.
Claude's 100% owned Currie Rose property, (subject to a
30% net profits interest), surrounds the producing Seabee
property. This 11,000 acre (4,500 hectare) land position is
the Company's most advanced exploration property.
During the past 3 years, extensive prospecting and drilling
programs provide assurance that existing structures
currently being mined at Seabee extend onto the Currie
Rose property. Access drifts and stoping, combined with
surface and underground drilling programs during 1998,
are expected to provide feedstock for the Seabee mine
commencing in 1999.
Claude's Amisk/Laural Lake gold project, optioned from
Cameco Corp. and Husky Oil, is located 25 kilometres
west of Flin Flon, Manitoba. This advanced exploration
project is a 46,400 acre (18,800 hectare) land position
hosting numerous targets. Additional drilling with a possible
underground bulk sample is planned during 1998.
In addition to the Company's mineral properties, Claude
owns interests in several large oil and natural gas
properties, most of which are located in the province of
Alberta. The 1,000 barrels of oil and gas equivalent being
produced per day from these properties currently results in
some $8 million a year in revenues and $1.8 million cash
I started a new thread on October 2nd, 98 for more info.
clauderesources.com
Claude doesn't get much promotion and has lately traded very lightly.
Share Price has not responded yet to POG. Grab some for a quick %33 rise. |
