Each one in plain English, with the numbers worked through for a shareholder.
23 Oct 2006capital raising announcement● Neutral
Claude announced a non-brokered flow-through placement of up to 3,333,333 shares at $1.65, for a maximum of $5,500,000, expected to close around November 8, 2006. A finders' fee of up to 5% applies. Proceeds are for qualifying Canadian exploration expenses. The price is above the $1.05 of the prior flow-through raise.
What it means for a shareholder
3.3m new shares at $1.65 to raise about $5.5m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Claude plans 70,000 m of drilling in 2006 at and around its 100%-owned Seabee mine, about 50,000 m underground and up to 20,000 m on the surface at Porky Lake, Santoy Lake and four new targets. The drilling is designed to replace 2006 production and supply the expanded Seabee mill. A February 2006 review lists reserves of 684,400 t at 6.55 g/t and inferred resources of 1,500,000 t at 8.86 g/t.
Claude completed the December placement: 1,999,999 flow-through shares at Cdn$1.05 for gross proceeds of Cdn$2,099,998.95. Proceeds are for qualifying exploration expenses, renounced effective no later than December 31, 2005.
Claude announced a non-brokered flow-through placement of up to 2,000,000 shares at $1.05 (maximum $2,100,000), expected to close around December 30, 2005, with finders' fees of up to 5%. The proceeds are for Canadian exploration expenses that qualify for flow-through tax treatment.
What it means for a shareholder
2.0m new shares at $1.05 to raise about $2.1m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
24 June 2005capital raising announcement● NeutralMajor
Claude completed the placement announced May 20: 4,023,100 units at Cdn$1.00 and 4,547,273 flow-through shares at Cdn$1.10, for gross proceeds of about Cdn$9,025,000. Proceeds are for bulk sampling and infrastructure at Porky Lake and Santoy Lake and general purposes; each unit carries a half-warrant exercisable at Cdn$1.20.
What it means for a shareholder
4.0m new shares at C$1.00 to raise about C$4.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Claude engaged Toll Cross Securities to place up to 5,000,000 units (4,000,000 at $1.00 plus a 1,000,000 over-allotment) and up to $5,000,000 of flow-through shares at $1.20. Units carry half a warrant at $1.20; proceeds are for bulk sampling at Porky Lake and Santoy Lake and general purposes, with closing targeted around June 17, 2005.
What it means for a shareholder
5.0m new shares at $1.00 to raise about $5.0m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Partner Placer Dome drilled 14 holes (5,315 m) at Madsen in the second half of 2004, found two new high-grade zones (the 'Fork Target'), and has now met the $8.2 million spending requirement of its option with Claude. To vest a 55% working interest in the Madsen JV, Placer must deliver a positive feasibility study by December 2006; Placer and Claude are discussing how to advance the property.
Claude completed the December placement: 1,150,033 units at Cdn$1.50 for gross proceeds of Cdn$1,725,049.50, each with a warrant at Cdn$2.00 (year one) or Cdn$3.00 (year two). Proceeds go to the 2005 exploration program. This closes the thread opened on December 22, adding shares and warrants.
What it means for a shareholder
1.2m new shares at C$1.50 to raise about C$1.7m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Claude announced a non-brokered private placement of up to 1,150,000 units at Cdn$1.50 (maximum Cdn$1,725,000). Each unit has one flow-through share and one warrant exercisable at Cdn$2.00 in year one and Cdn$3.00 in year two. Proceeds are for part of the 2005 exploration program.
What it means for a shareholder
1.1m new shares at C$1.50 to raise about C$1.7m. Shares on issue before the raise aren't in the record, so the dilution can't be worked out.
Claude reported results of 97 surface drill holes (12,237 m, February-July 2004) at its Santoy Lake property, about 11.5 km from the Seabee mine, finding gold in shear zones over a 4 km strike length. Claude plans more drilling in 2005 and an underground bulk sample (permitting started) to confirm grade and continuity. This is the early stage of the Santoy deposits that later became part of Seabee production.
Claude hired Toll Cross Securities as agent to sell up to 1,000,000 flow-through shares at $1.50 each, raising a maximum of $1,500,000, expected to close around August 31, 2004. The money is to fund part of the 2004 and 2005 exploration program. This is a small raise that issues new shares, so existing holders are diluted if it completes.
