RE: Debt Explosion Today! pfaffagau - who died and made you moderator of this board? ;) I guess you believe boards should silence opinions that you don't agree with? Are boards only for "cheerleaders" and pumpers or might one learn something from considering a diversity of opinions?
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But I can't figure out if you are an idiot or just ignorant? I have stated numerous times on these threads that I like the geology Claude has, but think that it stands a snowball's chance in H* LL of being developed before we are all old and grey under the existing management. Shoot even Bottles seems to agree that management is a bit "challenged."
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Maybe when one matures in their analysis of Junior miners, one will come to the realization that good management is key. The track record of McMillan speaks for itself - if you bought 17-years ago when Neil took charge your investment would be UNDERWATER. Shoot, one could have made more money buying Treasuries! And you want to "follow the leader" with a record like that?
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So what if Claude funded with no dilution? While dilution certainly isn't good for shareholders, they are paying a 10% rate for that money. Look at projects all over the world - they are getting funded for 5% and 6%! What does the "premium" over the 5% rate level tell you about the lender's evaluation of the risk of loaning money to Claude? Do they think it is less risky than loan money to others?
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Oh and obviously one doesn't understand the implications of the details of the debt financing. The amount of money Claude has to pay each quarter to service its debt, just jumped by SIX TIMES! Ouch! (next year the debt repayment load doubles from this year's level! Now, with today's announcement that 2013 production is forecast to be a 5% gain, where is Claude going to get the money to pay the debt? Cut down on exploration drilling? Stifle plans for PEA studies? Cut Management salaries?
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Increased ounces in the ground are nice - certainly one can't mine ounces that aren't there! But one has to be able to make a profit mining those ounces! Claude has some of the highest cash costs per ounce in the industry. Is THAT a good thing? Or do we just ignore costs because "they have increased ounces in the ground?".
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Then on Madsen - er, what is your estimate of the cost to start mining at Madsen? It isn't going to be free. How long do you think it is going to take to start up operations at Madsen? Where is Claude going to get the cash to pay for it? Dilution? More Debt? Magic?
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Do some real homework, DD and analysis and come back later. Nothing wrong with being ignorant, as education can fix that. But being an idiot - that is on you and nature/nurture.