Post by
audigger13321 on Mar 18, 2014 5:19pm
Something to think about...
I considered Madsen as the key to Claude's future growth, and upon learning of the sale, I bailed out. Tried to buy Laurentian Goldfields, twice at "ask" but could not get it filled until today, when I was able to buy 10,000 shares. Why??? . This makes Laurentian the third largest land owner in the Red Lake district at 5000 ha. .Indicated resources are at 928,000 oz, with an average grade of 8.93 gpt. This comes out at $ 10.78 per oz of gold in the ground; one of the cheapest in the area. This does not include the inferred 297,000 oz. at 11.74 gpt. The cutoff grade for this calculation was 5.0 gpt..many co's would wish that their deposit was as high as this cut off grade. This property was drilled in the past to a staggering of 13,674 surface and underground and surface holes, for a total 816,367 meters of drilling. Hell, drilling alone would probably cost more than the $ 10 million purchase price. This property also consists of fully permitted mill, shaft, and infrastructure. This is a first full consolidation of Madsen properties. Major stockholders include: Claude at 10.1% Evanchen (McEuen) at 12.4% Anglo Gold at 12.7% Other Institutions at 13.4% Management at 7.2% Totals at about 52.1% And, the property still has vast unexplored areas, with some good future drill targets, Full engineering report can be found at the Laurentian web site. Personally, I think that this mine is a go. Audi.