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Claude Res Inc CLGRF

Metals & Mining Gold
"Claude Resources Inc is engaged in the acquisition, exploration, and development of gold and other precious metal properties. Its projects include Seabee Property and various exploration properties located at Laonil Lake. It also owns Amisk Gold Property."


GREY:CLGRF - Post by User

Claude Res Inc > golden band turning the lights out.
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Comment by 7tapason Dec 16, 2013 9:59pm
328 Views
Post# 22012091

RE:RE:RE:RE:golden band turning the lights out.

RE:RE:RE:RE:golden band turning the lights out."In light of current market conditions and gold price volatility, the Company is in the process of divesting its Madsen Gold Project in Red Lake, Ontario. The Company expects to complete the transaction by the end of 2013 or early 2014. The divestiture of the asset will strengthen the Company’s Balance Sheet and reduce the risk in its capital expenditure requirements for the upcoming 2014 winter re-supply program." The above is their Q3 press release. Below is from their quarterly financial statement. "At current gold prices and forecast production, Management believes that operating cash flows will not be sufficient to fund the 2014 Winter Ice Road resupply requirements and further development opportunities at the Seabee Gold Operation. Accordingly, the Company is investigating various external financing options, including the divestiture or non-core assets, to ensure sufficient funding is in place." Sorry but the truth is in Claude's disclosures. Wish the news is better.
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