BLAINE, WA, June 30 /CNW/ - Century Mining Corporation (CMM: TSX-V) today announced that its operations in Peru have not been affected by a nationwide strike and other labor issues reported in the media.
Century further stated that it maintains generally good working relationships with the workforce at the Company's San Juan Gold Mine, and that it does not anticipate operations at San Juan to be affected by labor issues in Peru.
4 comments:
Wow, this is the first piece of good news in over 6 months.
More importantly, where is the $5M bridge financing? Anyone here anything? I expected the AGM to be a little more exciting, it looks like it was a non-event. Too bad it was not in Toronto.
Hi Bargain Hunter,
Based on what I've been able to gather, PK mentioned (during the AGM) that the bridge loan is expected to close in 2-3 weeks. I don't have any firm suggestions as to why it would take so long to close. Hopefully it's just a timing sitation, where MRI has to make the funds available for draw down. As a side note, Tamerlane closed off a relatively small PP deal with MRI Trading AG today (the same company providing Century's bridge loan), so hopefully that's a positive sign that the relationship is still strong between PK and MRI.
Also, apparently they are targeting release of Q1 financials by July 7.
Of course, we all know about Century's reputation when it comes to meeting target dates. As it gets closer to these dates, it might be best for people to check in with IR to see if the company is still on track.
Certainly looked like someone(s)were willing to sell lots at .095, but somebody(s) also were more than willing to pick it up as well. I find that very puzzling as to why there is the two perspectives. I don't think there is much subjectiveness here. It is either there or not.
Lets hope with all the right offs being done in the year end that the 1st quarter shows a little better.
Mike
bargain hunter
"Wow, this is the first piece of good news in over 6 months.'
Looks like we got to wait another 6 months.
What a company! What a management group! What a BOD group! PATHETIC!
Then we have BJ with his misleading staements to round out the group. Looks like his initials suit him just fine.
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