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Claude Resources, Inc. Message Board

  • markconnors16 markconnors16 Mar 17, 2008 2:57 PM Flag

    Down on huge (for CGR) volume

    It's unsettling not only that CGR is down as much as 17% today, but volume is reinforcing this move - now about 10X the daily average, with more than an hour left.

    All my other pm stocks are down a hefty amount as well, but none are exhibiting this kind of comparitive volume. Probably not a good thing.

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    • Well CGR went down so much today i did due diligence at their website financials and projects. Did not know they had such an oil/ gas cash flow, which i suspect hurt the stock today as the whole oil sector did a record one-day selloff. In the long run i don't think oil at $110 or 90 makes much difference to the bottom line.

      imo CGR in the one-teens is a good speculative buy. Especially when the Fed announces a substantial cut and the dollar tanks to ridiculous lows.

      • 1 Reply to johnkoeng
      • OK here's some back of the envelop calclation looking at CGR situation. The following is a portion of their press release;
        1) Average realized gold price
        (US $/oz.) 790 620 692 604
        (2) Total cash operating costs
        (US $/oz.) 621 468 586 396

        Operations:
        The market price of gold began its significant rise during Q4 2007 during which time Claude Resources' gold production was 12,166 ounces compared to 10,300 ounces during Q4 2006. Total gold production for 2007 was 44,323 ounces, of which 61% of production occurred in Quarters 3 and 4. Overall 2007 production represents a 4% decline from 2006.

        From the info above we can see that in Q4 they realized $790 at a cost of $621. Well now gold has rapidly risen to $1000 range. If production cost hold relatively stable and we average this 1K gold price that's the leverage we've been waiting for. About $200 per ounce in additonal profit. If they just maintain last year's poor production level of 44,000 oz. this times $200 is $8.8 million in revenue. Me thinks stock price was WAY! oversold today. JMHO

    • I'd say complete capitulation by the market.

      CGR, IMHO, is a STRONG buy in the $1-1.15 level....the chart tells it all. It has hit this range a few times over the past 18 months and has always bounced back. Support is at $1.

 
CLGRF
0.5283+0.0040(+0.76%)Apr 24 3:56 PMEDT