Claude Resources Inc. Announces Board Changes Effective from January 1, 2015
Dec 18 14
Claude Resources Inc. announced that its board of directors has named Brian Booth, current lead director, as chair of the board effective from January 1, 2015. The company's current Chair, Mike Sylvestre, will step down as chair effective December 31, 2014. Mr. Sylvestre will remain on the board as a director until February 19, 2015, at which point he will resign from the company to pursue a new role within the mining sector. Mr. Booth brings more than 30 years of exploration and mining experience throughout Canada, South America, Europe and Southeast Asia. He began his career as a geologist on the Casa Berardi gold discoveries in Quebec and then went on to work in a variety of management positions with Inco Ltd. In addition, Mr. Booth is past president, chief executive officer and director of Lake Shore Gold Corp. Mr. Booth currently serves as the president and chief executive officer of Pembrook Mining Corp. and is also on the board.
Claude Resources, Inc. Appoints Brian Skanderbeg as President and CEO, Effective November 17, 2014
Nov 13 14
Claude Resources, Inc.'s Board of Directors announced the appointment of Mr. Brian Skanderbeg as President and Chief Executive Officer of the company effective November 17, 2014. Brian joined Claude in 2007 and was appointed Senior Vice President and Chief Operating Officer in 2012.
Claude Resources, Inc. Reports Unaudited Earnings and Production Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Production Guidance for the Fourth Quarter and Full Year of 2014
Nov 3 14
Claude Resources, Inc. reported unaudited earnings and production results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue of CAD 24,323,000 compared to CAD 14,976,000 a year ago. The increase was attributable to a 63% increase in gold sales volumes, which reached 17,578 ounces compared to 10,781 ounces in the same period last year. Net profit was CAD 6,852,000 compared to net loss of CAD 33,871,000 a year ago. Basic and diluted earnings per share was CAD 0.04 compared to basic and diluted loss per share of CAD 0.19 a year ago.
For the nine months, the company reported revenue of CAD 64,665,000 compared to CAD 46,324,000 a year ago. Net loss was CAD 5,068,000 compared to net loss of CAD 46,323,000 a year ago. Basic and diluted earnings per share was CAD 0.03 compared to basic and diluted loss per share of CAD 0.26 a year ago.
The company recorded third-quarter gold production of 20,614 ounces was 96% more than was produced in the same period in 2013 - a product of higher-than-budgeted ore grades and increased mill throughput. The 74,930 tonnes fed to the mill was up 16% from last year as Santoy Gap deposit ramped up ahead of schedule, which also contributed to a 68% improvement in ore grade, measured at 8.88 grams per tonne. In third quarter of 2013, the company reported gold production of 10,541 ounces and tonnes milled were 64,642.
Year to date, the company milled 219,046 tonnes at a grade of 7.53 grams per tonne for total gold production of 50,700 ounces. The key drivers of the 63% increase in production and 52% increase in grade over the first nine months of 2013 were positive reconciliation on tonnes, grade and ounces from the L62 deposit and the replacement of the lower margin Santoy 8 ore with higher margin Santoy Gap ore. In nine months of 2013, the company reported gold production of 31,061 ounces and tonnes milled were 205,596.
Based on the company's improved operating performance, the company has increased its total 2014 gold production forecast at the Seabee Gold Operation to 61,000-64,000 ounces (previously 50,000-54,000 ounces).
During the fourth quarter, gold production from L62 deposit will be reduced while throughput from Santoy Gap deposit is expected to increase. Based on year to date performance and the addition of higher-margin tonnes from Santoy Gap, the company has revised unit cash cost target for 2014 to be approximately 20% lower than 2013's unit cash cost of CAD 983 per ounce.