Colorado Gold Mining Company with Grand Plans
Dear Resource Stock Guide Reader,
It has been a few months since we last sent an update. Today, we are writing to point out a very
interesting exploration/development company in Colorado. It is Calais Resources (OTCBB: CAAUF), a
Company with highly prospective assets in Colorado and Nevada.
As many of you know, people are almost everything in the mining business. We have done very well
following quality people, like Randall Oliphant, former CEO of Barrick who founded Western Goldfields
and later became the Executive Chairman of NewGold (NGD) after the merger. Needless to say that
following Mr. Oliphant from the early stage of Western Goldfields to what is now NGD, made us very
large sums of money. Ray Threlkeld, another ex-Barrick executive also transitioned from Western
Goldfields to join what is now wildly successful Rainy River (RR.TO). Quality assets attract quality people.
More than anything, Calais Resources is a people play as well. Earlier this year, David Russell joined the
Company as the CEO and Executive Chairman. Mr. Russell has a wealth of exploration and most
importantly operational experience. He is the Chairman of Pure Nickel (NIC:TSX), Lead Director for Fire
River Gold (FAU:TSX.V) and a Director for General Molybdenum (GMO:AMEX).
Previously, Mr. Russell was the Founder, President, CEO and Director of the former Apollo Gold
Corporation, now Brigus Gold Corp. (BRD). He and his family now own around 30% of Calais Resources.
Calais Resources has an exciting 2011 ahead of it and management is intent to keep the positive
newsflow going in an effort to build up greater investor recognition:
- Listing on the Canadian Stock Exchange; it currently trades on the US Pink Sheets only;
- Start of Production from its fully-permitted and previously operated high grade Cross-Caribou
Mine in Colorado;
- Positive cash flow from production due to high grades (14.1g/t Au and 417g/t Ag) and good
- Underground development in order to ramp up production in 2012; being a past producer, the
mine’s metallurgical aspects are well known and quite simple;
- Release of the NI 43-101 resources; only historical resources are currently available – over
600,000 ounces of gold and silver on an gold-equivalent basis;
- Further in-fill drilling and expansion drilling; qualified independent geologists we’ve spoken to
express confidence in the Cross-Caribou property and its potential to reach 2 million of high
- Restructuring of the $11 million debt facility with Brigus Gold in the coming months;
The Company does not have immediate cash needs but will be looking to raise funds in order to re-start
production at the mine and engage in additional drilling.
There is a lot of good information found on Calais’s website at: http://www.calaisresources.com ; If you
are interested, we encourage you to visit the website and learn more about the Company and do your
own homework before investing. Don’t just take our word for it. Calais is starting to be noticed by
names such as Bob Moriarty and J Taylor. Here are some of the links to recent articles on Calais:
We have been shareholders of Calais Resources after recently having had the opportunity to visit the
Cross-Caribou Mine. To us, this is a thrilling developing story and while there are risks, the opportunities
are also great. This is a Company worth speculative investors’ attention.
Resource Stock Guide