Thursday, March 12, 2009

Volume

It is pretty amazing to see the factors of volume at work here. When we have volume, you see buying interest, but the last couple of days (today especially), you see more sellers, and opportunist buyers waiting on the bid side. Question, has the company actually given a time frame for when they think (wink wink) when the financing might happen. I don't seem to be able to find any reference that way.

TIA, Mike

2 comments:

Anonymous said...

It like the Rolling Stone's song, "Time time is on my side...Oh, yes it is." and The Au is still there. I would not get worried unless I saw a lot of insider trading.

Peter Cz

production05 said...

I think we still have a bit of time. With the economy being as terrible as it is (and likely to get much worst), my guess is that IQ (our secured lender) as well as the province of Quebec want Lamaque to reopen ASAP in order to create jobs, which is likely why IQ was willing to reduce the debt amount by $6M (down to $9M) if the Fortis deal had gone through - IMO, they were doing their little part to help create jobs.

"San Juan is cash flow positive."

Both the short-term and the long-term future looks very bright for gold producers. Century is in the right business right now, with the most successful investment product in the world today - gold. Actually, Century has almost 6 million ounces of that yellow stuff.

IMO, Century is well positioned for success. There is no need for Peggy to give away the farm just for the sake of getting something done immediately.

Sometimes plans get altered a bit, and it takes a bit longer than everyone prefers, and longer than targeted timelines. With the way the economy is today, these days 1 week feels like 1 entire year. Actually, 1 day can sometimes feel like an entire year. That's what happens when fear drives the economy - rational thinking goes out the door.

Sometimes, IF one door closes, another can open up very quickly, for companies that have the goods (which we do). I think it's a matter of time until we finally catch that long awaited break. It's just unclear how long that will be. One thing is for sure though, it's nice being in a $920 US gold price environment while we wait. I'm looking forward to seeing $1,200 US gold price also, be it later this year or 2010 or 2011 or 2012 - inflation is coming at some point (even the mainstreet people no longer argue against it), and any company with 6 million ounces of gold, and in production, will likely benefit substantially.