GREY:CLGRF - Post by User
Comment by
oddykogon Dec 17, 2008 2:03pm
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Post# 15652172
RE: Something is up!
RE: Something is up!Well, now we know what the news is - the commencement of underground drilling at Madsen. The program is larger than I expected, 20 holes and 6 months. This is the big one as far as Claude is concerned. If they find the zone 8 and it holds the promise they expected they could leave most of the juniors in the dust and turn themselves into an intermediate gold producer in the space of a few years. Since the shaft and the mill are there already I don't think the capital required will be too steep either. I would not be surprised with them becoming a billion dollar company by market value with just $100 million or so of new capital required. If they don't find the ore they will still appreciate, but not by dramatic amounts.
With the drilling taking all of the first half of 2009 we will probably have to wait until the 4th quarter of 2009 for substantial news from Madsen.
Good luck to all