Cumberland Resources (CLG)

[amarksp]

Well I picked up some CLG today at US$1.40 average, after selling all but 100 shares in my trading account...

CLG has a new corporate presentation dated Feb 2005.
http://www.cumberlandresources.com/pres/corp_pres/slide1.htm

Figure if POG goes above $450, then CLG leverage to POG should have it outperform most all HUI components...? CLG still has $37M cash so no risk of dilution anytime soon. 1Q05 should bring release of new feasibility study.

Only near term potential problem would be permitting.

FWIW, one of CC's Top 10 Long Term Holds...
"You all remember Cumberland Resources. It has been a favorite for a long time. It still is. Despite this year problems with higher than expected capital costs at Meadowbank, Kinross took a 10% stake in the company. It is not hard to figure that CLG will eventually become a bargin again with its 4 millions ounces of gold and $50 millions in the bank. It is only a matter of time for the economics to improve at Meadowbank. If you want a safe gold resource in Canada, Cumberland is for you." Dec 2004