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Gold/Mining/Energy : Claude Resources TSE.CRJ Undervalued Junior Gold Anyone? -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (87)	1/7/1999 7:04:00 PM
From: Gord Bolton	Read Replies (1) \| Respond to of 359

Well I guess I had better revise that to March of 1999. Here is how I see the appreciation to $10.00. #1. Seabee produces 60,000 ounces per year at $180.00 U.S. per ounce. Lot's of good grade reserves for many years to come. Seabee is a very profitable little mine and can justify a $2.00 to $3.00 share price all by itself. <30,000,000 shares out. A years supply of broken ore on surface ready for the mill I believe. #2. Madsen is in production. No profits or production has been reported yet but will show up in the next report. The Madsen property may turn out to be one of the best deposits in North America. It has already produced some 2.5 to 3 million ounces from the Austin Zone. Madsen property will pay for it's own development from production. The Austin zone is not exhausted by any means and the ore get's richer with depth. The McVeigh zone is shaping up to be an identical twin to the Austin. That would indicate a >3 million ounce resource on the Madsen property open and increasing in grade at depth. The McVeigh has been traced on surface for 2 kilometers. The property has not been fully explored to date and more zones are possible. The logistics here are simply a matter of getting the ore to surface and feeding it to the existing mill. It is not in a remote location, the roads are all built, power is on location, mill is in place and the town infrastructure and services are all close by. The Madsen property, defined and indicated reserves have got to be worth $5.00 per share. #3. Once the Madsen property is fine tuned and producing which seems to be the case at the moment, Claude has other properties just waiting for development. Claude will drill the Jessop property near Timmons Ontario this winter. Earlier this year Claude bought the Vista Property near Flin Flon complete with mill and rolling stock. Claude has other advanced stage property close by, the Laural Lake/Amisk gold property. This operation can be put into production in short order. The drills will be working in this area this winter I believe. #4. In addition to the Gold properties, Claude has regular income from oil, NGL properties and an NGL plant operated by others.(1000 barrels per day of oil and gas equivalents) Claude also has shares and interests in several other properties and companies including Shore Gold SGF.A and Pacific Western Credit PWC.T (a small bank which lends almost exclusively to Governments and Government Agencies from what I understand) #5. I believe that the fundamental property and profits will justify a $10.00 share price with little allowance for upside potential. Claude will be positioned to take advantage of new opportunites and acquasitions this year. As drilling results come in and reports are made in the near future the market will become increasingly aware and the share price should be steadily increasing. A lot of "new money will be coming into the market in the next two months and looking for a nice safe place to grow. I think that many will be interested in a solid gold producer with large reserves and profitable operations and with upside potential. #6. Claude has a solid and growing reputation as an underground narrow vein miner with in house experience and capabilities. People are knocking on their door and that in itself is worth a lot. The folks who will put Madsen on the map again as a profitable producer will deliver more.