Claude Res Inc CLGRF

Look at that balance sheet

[7tapas]

Cash and cash equivalents (millions)

$0.06

Short term debt (millions)

$17.3

Long term debt (millions)

$0.6

 

The longer they wait to finance, the worst the terms.  Get that 30 million in the bank or there won't be any exploration on these fantastic properties next year.

[pdcon1]

what gets me is if they produce 50 000 oz of gold per year shouldnt they be self sufficient with an 800 dollar profit  per oz  on gold sales . With expectations to produce 15% more gold per year for the next 5 years with lower costs and an eventual production rate of 90 000 oz gold seems this cash flow is short term problem that will be rectified. Santoy gap high grade will

[pfaffgau]

pd.....I agree.   They raised $57 million in 2011 at $2.50 a share.  That has brought on a lot more ounces, but a much lower share price.  With L62 they could produce lots of ounces and $$ in the next two quarters and not be pressed for cash.  Earnings would get the market's attention.   They should go for the $$ before doing more expensive drilling.