GREY:CLGRF - Post by User
Comment by
oddykogon Nov 08, 2013 5:25pm
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Post# 21890374
RE:RE:The sale of Madsen
RE:RE:The sale of Madsen
I doubt Claude Resources will get much for Madsen in the present market and it is a shame to sell at the bottom of this market. Personally, I would not be surprised if the company gets taken over. The shares are now valued at around $30 million (down from around $250 million!!). Even with debt this is a steal. A company with a bit of capital gets two decent exploration projects at Madsen and near Flin Flon and a pretty high-cost mining operation at Seabee that is finding a considerable amount of additional gold at Santoy Gap. In contrast to the original Seabee mine, which is narrow-vein gold, Santoy Gap appears to have much thicker veins, which could be lower cost to mine, so even that operation could be viable at lower gold prices