Before their on the chopping block.
Somebody will buy them, and it might be the only way they can create some bona fide shareholder value, because mgmt sure isn't doing it.
I figure it's worth $100mm if the acquirer can also scrape some funds from the mitts of the Province of Saskatchawan for building a 70km unpaved, all-weather road to mine.
Simply put, mine development has devolved into a 'make or buy' decision in this market.
Best of luck.
The company has placed a For Sale sign on Madsen.
Madsen isn't worth much. The mine is timbered, and much of has been underwater for years, until CGR decided to start dewatering it couple of years ago.
They should never have screwed around with dewatering and initiating a drill program here. They burned too much cash doing so. Cash they now need.
Should have cannabalized the mill to jazz up Seebee throughput and been done with it, but that opportunity has passed.
What evidence do you have for this?
i believe claude should jump out the window
Sentiment: Strong Sell
As an outside contractor I know the area and Madsen has gold. Claude has reserves to weather the storm to an extent. Maybe the debt crisis will impact the gold price and rebound this.