Claude Res Inc CLGRF

Dubai presentation

[oddykog]

The company gave a presentation at the Dubai conference, which contained some new information: 1) They expect Seabee to increase production to 90 000 ounces per year over the next 2 years, assuming good results from the bulk samples. 2) They laid out in detail the plans for Madsen and their belief that particularly at depth they have an identical ore body to the New Red Lake mine and the Campbell mine. 3) They have been approached by a bunch of companies to partner with them, but want to go it alone for now. They intend to spend $5 million per year on exploration at Madsen for the next 3 years. From 2008 that exploration will be at depth, but the first rig will be working at surface by the end of this month. 4) They are considering selling their oil and gas assets, saying that they may have a market value of up to $40 million. The reason is to be able to develop Madsen faster. 5) They think they ought to be trading at about US$ 2.25/share, which leaves the stock about a dollar shy of where they believe the value is.