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Gold/Mining/Energy : Claude Resources TSE.CRJ Undervalued Junior Gold Anyone?
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To: Terence Mitchell who wrote (191)4/9/1999 4:26:00 PM
From: Enigma   of 359
 
RE: $325/oz. Spoke to the company - the price of $325 represents what the company can reasonably (and conservatively) receive for its gold - taking into account its hedging policy, forward sales. As for ore described as a 'resource' - the company is being typically very conservative to conform to Stock Exchange requirements even though several consulting firms would describe the ore as 'reserves'. The re-assessment of reserves, etc., due within 6 months is independent of any decision to go into production in the meantime - it represents the company's first re-calculation (i.e.audit), for its own purposes, since its pre-acquisition estimate. In fact the company has been steadily adding to its pre-acquisition estimates. So everything is very positive - it's just that the company is bending over backwards to be conservative and squeaky clean in its presentation, which can be a little frustrating to some investors they admit. dd
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