Monday, October 10, 2011
Thursday, October 6, 2011
Claude Resources
Claude Resources (CRJ.T CGR on Amex) has been in operation since 1991. Their Seabee mine located in northeastern is in production, and they have discovered a new deposit called the Santoy 8. That deposit reached commmercial production in Q1 of 2011.
In addition to the producing mine in Saskatchewan they have also discovered a new gold project called the Amisk deposit located 20 kilometres southwest of Flin Flon, Manitoba. Claude owns 65 percent and St. Eurgene mining 35 percent, with Claude being the operator of the discovery.
They've been producing gold for 19 years and have an experienced management team. This, however isn't the main reason I am invested in Claude Resources.
Claude also holds 10,000 acres in the Red Lake gold Camp, called the Madsen mine.,
Now for some history! When the gold rush was on in the Red Lake district there were 3 original mines, the Campbell mine, the Dickenson mine and the Madsen mine.
The Campbell mine produced the most gold and the mine was bought out by Placer Dome, which was then bought out by Barrick. So the Campbell mine is now Barrick Gold.
The Dickenson mine was bought out by Goldcorp, and if you recall they didn't find the deep gold until Rob McEwen held the Goldcorp challenge and the rich, deep gold was discovered.
The 3rd mine was the Madsen mine which is 100% owned by Claude Resources. They have been in the process of dewatering the old shaft and carrying out some extensive drilling. The 10,000 acre property contains a 500 ton per day mill, a functioning 4,125 foot timbered shaft and a tailings management facility. All existing infrastructure is fully permitted.
The Madsen Mine has a rich history. From 1938 until the mine’s closure in 1976, gold production exceeded 2.4 million ounces at an average grade of 0.28 oz/t (9.02 g/t). Historic production exceeded 100,000 oz/year and was derived from both the ‘Tuff’ and ‘8 Zone’ Trends.
So there you have it. Management has been successful in operating the Seabee mine for over 19 years, even with low gold prices. They have a steady stream of income with which to develop the Madsen and Amisk deposits. I believe there's still a rich deposit of gold, yet to be found on the Madsen claims.
As always, please visit the Claude Resources website and do your own diligence
http://www.clauderesources.com/index.cfm
In addition to the producing mine in Saskatchewan they have also discovered a new gold project called the Amisk deposit located 20 kilometres southwest of Flin Flon, Manitoba. Claude owns 65 percent and St. Eurgene mining 35 percent, with Claude being the operator of the discovery.
They've been producing gold for 19 years and have an experienced management team. This, however isn't the main reason I am invested in Claude Resources.
Claude also holds 10,000 acres in the Red Lake gold Camp, called the Madsen mine.,
Now for some history! When the gold rush was on in the Red Lake district there were 3 original mines, the Campbell mine, the Dickenson mine and the Madsen mine.
The Campbell mine produced the most gold and the mine was bought out by Placer Dome, which was then bought out by Barrick. So the Campbell mine is now Barrick Gold.
The Dickenson mine was bought out by Goldcorp, and if you recall they didn't find the deep gold until Rob McEwen held the Goldcorp challenge and the rich, deep gold was discovered.
The 3rd mine was the Madsen mine which is 100% owned by Claude Resources. They have been in the process of dewatering the old shaft and carrying out some extensive drilling. The 10,000 acre property contains a 500 ton per day mill, a functioning 4,125 foot timbered shaft and a tailings management facility. All existing infrastructure is fully permitted.
The Madsen Mine has a rich history. From 1938 until the mine’s closure in 1976, gold production exceeded 2.4 million ounces at an average grade of 0.28 oz/t (9.02 g/t). Historic production exceeded 100,000 oz/year and was derived from both the ‘Tuff’ and ‘8 Zone’ Trends.
So there you have it. Management has been successful in operating the Seabee mine for over 19 years, even with low gold prices. They have a steady stream of income with which to develop the Madsen and Amisk deposits. I believe there's still a rich deposit of gold, yet to be found on the Madsen claims.
As always, please visit the Claude Resources website and do your own diligence
http://www.clauderesources.com/index.cfm
Tuesday, October 4, 2011
Very strange statistic
October 3rd 2008 - SPX closed at 1099.23
October 3rd 2011 - SPX closed at 1099.23
How freaky is that? In 2008 the SPX proceeded to lose 40% to a low of 666.79 which it hit in late February, early March of 2009. Is it an early warning sign or just an odd coincidence?
The SPX closed at 1123 today and I had a look at the weekly chart. It shows support at 1000 on the weekly chart. We could see another 10% drop, which is actually a hefty correction. If 1000 doesn't hold, then 950 is the next stop followed by 870.
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&b=5&g=0&id=p72698376642
October 3rd 2011 - SPX closed at 1099.23
How freaky is that? In 2008 the SPX proceeded to lose 40% to a low of 666.79 which it hit in late February, early March of 2009. Is it an early warning sign or just an odd coincidence?
The SPX closed at 1123 today and I had a look at the weekly chart. It shows support at 1000 on the weekly chart. We could see another 10% drop, which is actually a hefty correction. If 1000 doesn't hold, then 950 is the next stop followed by 870.
http://stockcharts.com/h-sc/ui?s=$SPX&p=W&b=5&g=0&id=p72698376642
Subscribe to:
Posts (Atom)