(A Top Pick Nov 20/06. Up 8.7%.) Owned this one specifically as a takeout. Took some profits. Have a great asset and ultimately someone will buy or merge with them.
Really good project in northern Quebec. Will be producing at a rate of about 160,000 ounces a year. Catch costs of around $280 an ounce. Has another discovery called Joanna near Rouyn-Noranda, Quebec and is likely to be a very large open pit bulk mining gold. Undervalued on the Casa Berardi mine alone.
The only gold stocks that held up really well are those that are in prominent indexes. Smaller gold stocks are in gold funds and are under pressure for reasons that have nothing to do with the underlying operations of the company.
This one tends to be a bit of a trader as it has a lot of periods when it tends to go sideways. Have done a good job of developing the Casa Berardi mine but some disappointment in how much they have ramped it up. He’ll continue trading it.