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Gold/Mining/Energy : Claude Resouces CRJ/TSE -- Ignore unavailable to you. Want to Upgrade?

To: Jay Anderson who wrote (17)	5/21/1998 5:12:00 PM
From: Jay Anderson	Read Replies (1) \| Respond to of 23

SASKATOON, May 21 /CNW/ - Claude Resources Inc. recorded net earnings of $.6 million ($.03 per share) for the first quarter of 1998 compared to $1.4 million ($.09 per share) last year. The Company reported cash flow of $2.5 million ($.14 per share) this year versus $3.0 million ($.18 per share) generated for the same period in 1997. The average realized price per ounce of gold dropped from US $365 in 1997 to US $293 this year. Cash operating costs of US $173 per ounce in the first quarter of 1998 are significantly lower than US $233 a year ago. Working capital increased to $18.6 million compared to $15.6 million a year ago. The Seabee mine produced 13,200 ounces of gold during the first three months of the year, an increase of 10% over the prior year. Mill feed grade of 10 grams per tonne for the quarter was consistent with the overall average grade of the Seabee mine reserves.