GREY:CLGRF - Post by User
Comment by
oddykogon Sep 06, 2008 4:53pm
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Post# 15436324
RE: Goldcorp
RE: GoldcorpHello Grizzly, yes, I am still around. Bought quite heavily around the 90 cent level - could obviously have done better if I had waited, but there it is. Conditions have certainly changed for the juniors since the heady days of $1000 gold just a few months ago and Claude looks a bit exposed with some new debt and large cash needs.
I think their failure in not being able to turn Seabee into a cash cow during the last years will come to haunt Claude, but if Madsen holds its promise the present price (and 90 cents) will be too low for a take-out, but I agree that they will need a partner by the end of 2009 even if they are successful at off-loading the oil and gas business at a decent price. It is interesting that Claude has not dropped during the last weeks as others have continued to be hit. A sign of things to come, I think.