Opinions
Andrew Cook
Claude Resources
CRJ-T
TOP PICK
Mar 31, 2011
Gold producer out of Saskatchewan. Been reasonably sleepy for a number of years. Over the last few years they’ve increased the resource size at Seabee and this year their Santoy deposit will allow them to increase production. Have a joint venture at another property, Amisk, which has a significant resource. Also an interesting property at Red Lake close to Goldcorp (G-T).
$2.400
Stock price when the opinion was issued
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COMMENT
Undergoing expansion at their Seabee mine, which should ultimately derive a 30%-40% increase in their production rate. There are some concerns that if they do not execute on budget, it will put a strain on the balance sheet. He has confidence in management that they can shore this up without having to come to the equity markets. Expect there will be some decent growth over the next 12-24 months.
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