Claude Res Inc CLGRF

Q3 results on web site

[oddykog]

They posted another loss and had low gold sales in the quarter. Had trouble getting the high grade ore out of the mine, though they mined a lot more than last year and the grade was high. Part of the loss is also due to the added costs of mining large tonnages, which will work their way through the mill in later quarters. They continue to chew through large chunks of cash and with all that is going on that is not going to stop in the next 6 months. For the first time they suggested that they would liquidate some of the Shore Gold investment if cash got really tight. It is a case of wait until 2006. Personally, I am willing to wait.