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Claude Resources Inc. 2012 production guidance remains on track with strong Q3 results CGR/CRJ.TO) u.s. 85 cents : Co has announced preliminary production results from its 100% owned and operated Seabee Gold Operation. During the third quarter the Seabee Gold Operation produced ~ 15,100 ounces of gold representing a 24% increase over the second quarter 2012 production of 12,166 ounces of gold. During the quarter, the Company milled 66,173 tonnes at a grade of 7.27 grams per tonne. During the fourth quarter of 2012, the Company expects to complete the Seabee shaft extension. The shaft will be shut down for ~ 4-5 weeks. The Company expects to continue milling during this period and consequently expects to meet its production guidance of 48,000 to 50,000 ounces for the full year. The shaft project will extend the shaft to 980 metres from its current depth of 600 metres. This extension is expected to improve operating efficiencies and significantly lower operating costs on the Seabee ore body.
as with any mining company , there is plenty of room for surprises both good and bad.
in the march 2012 pdac conference, alexco was already talking about its new silver discoveries within the yukon district that it owns. this is on top of the several old mines that are part of its future flow of ore.
this company is likely to continue producting silver for decades, and is likely to get acquired long before it runs out of good high grade ore.
TSL, thanks for sharing that info on alexco. great to have somebody with good instincts like you visiting the site, instead of having to rely just on what is on paper. i just bought a 1000 to start. but it does seem like a great time to accumulate it.
The market has gotten so whacky I have no idea what will happen over the short term with anything so if I can find companies that I feel are competent and focused and have good assets then I am relatively comfortable holding them and waiting for things to develop. No guarantees though, of course. <g>
The #5 company on the list, Aurcana (v.AUN), is showing hyper-growth in 2013-2014. S/B producing close to 10 million silver oz. within 12 months. This coupled with a likely spike in siver prices could very well drive AUN to from 3X to 5X of the current SP. Isn't rapid increase in SP the objective? Regards, DrBill
Hi DrBill, Thanks for your comments! I am not familiar with Aurcana so maybe the information in the Motley Fool article is dated but that says:
"...now that Shafter has achieved commercial production we will see whether this budding mid-tier producer can come through with theambitious initial production goal of 3.8 million silver ounces in its first full year of operation."
Do they intend to go from 3.8MM to 10MM ounces over the second/third year?