Claude Res Inc CLGRF

They Are Pretty Much Out of Money

[SN3165]

According to the latest Q3 report cash on hand is less than $1 mill and working capital is NEGATIVE . It looks like they have burned through all their money on exploration.
 

"The Company had cash and cash equivalents of $0.06 million at September 30, 2012."

"At September 30, 2012, the Company had a working capital deficiency of $(3.4) million"

[Bottles]

"According to the latest Q3 report cash on hand is less than $1 mill and working capital is NEGATIVE . It looks like they have burned through all their money on exploration."   In addition to exploration costs, Seabee upgrades made up the bulk of cash expenditures. Those benefits should start showing up in 2013 (ie: about a $30M capital investment). In addition, Santoy Gap is on

[clestor]

Bottles, All good points.  It is possible CRJ has a blowout 4th qtr . . . but even my math has to be very optimistic for CRJ to avoid a financing. So, if a financing seems likely, then the question is how much of that is already priced into the stock price.   In regards to 4th qtr, the mill can handle much more than what the mine can produce, but maybe they cut back on development work

[pfaffgau]

If they do borrow, they have said it won't involve stock.   They want a feasibility on Matson.   This stock is worth $2.00.   I've continued to buy.  Those additional ounces are worth money.  Maybe they will be bought out, but again $2.00 is my target.

[Bottles]

"In regards to 4th qtr, the mill can handle much more than what the mine can produce, but maybe they cut back on development work and targeted higher grade stopes . . . maybe ran the mill at 900 or 1,000 tons per day?  But, such a qtr would be followed by a couple of really bad qtrs . . . Make sense?"   The only hiccup on the horizon production wise is the shaft tie early next