Claude Resources

About Claude Resources

In 1980, a company named Claude Resources was founded in Saskatoon, Canada. Two years later, entrepreneur Bill MacNeill took control, setting the stage for it to become Saskatchewan's largest gold mining company. The business focused on acquiring, exploring, and developing gold mineral deposits. Their key asset was the Seabee Gold Operation, located 125 kilometers northeast of La Ronge, which began production in 1991. The company's journey, like many in the resource sector, faced cycles of highs and lows. A pivotal moment came in 2011 when the exploration team discovered new, higher-grade ore bodies, known as Santoy Gap and L62. This discovery was critical, as it gave the company a lifeline and an opportunity to turn its fortunes around after a period of high debt. Brian Skanderbeg, who became CEO in 2014, had been the vice president of exploration during this crucial find. The turnaround and the richness of the new deposits did not go unnoticed. In May 2016, Silver Standard Resources (now SSR Mining) acquired Claude Resources for approximately C$337 million. This strategic acquisition integrated the productive Seabee Gold Operation into Silver Standard's larger portfolio of precious metals mines. With the deal, Saskatchewan's only home-grown gold miner was absorbed into a larger entity, marking the end of an era for Claude Resources as an independent company.