Claude Resources(CRJ.TO)

Claude Resources is taking on a revolving credit facility with Canadian Western Bank and Crown Capital Partners:

http://ow.ly/gXbxq

imo, GBN.V has the intention of financing a new mill to bring the total capacity on site to 3000tpd, including the presently operating mill. The cost of the mill would be $200 million at an interest rate of 10%, meaning yearly costs would be $40 million, principal and interest. Operational costs should be in the area of $40m./year.

The stockpile from the EP Zone high grade glacial till is meant to operate Jolu for 2 years while the mill is being constructed.

I believe Waterton to be the provider of financing, GBN.V would be engaged in a Pre-feasibility or bankable feasibility.

Any deviation from the investment case, which I believe should include robust dividends, would be disastrous.

Fire River(FAU.V)

Fire River and Waterton have amended their agreement:

Fire River Website

Eagle Plains Resources(EPL.V)

Eagle Plains stakes Saskatchewan claims:

http://www.eagleplains.ca/13.1.8_EPL_Stakes_Sask_Projects.asp

Does Eagle Plains staking of Sask gold claims mean Netolitzky is now a believer in the gold bull market? Any mention of Golden Band cautiously avoided.

-F6