Friday, May 29, 2009

This is a pivotal (and exciting) time for us

Things are really shaping up for us, both at the macro and micro levels:

*the yield curve is starting to show that long-term investors are very concerned about inflation

*a lot of downward pressure on the US dollar, which will likely continue longer term due to the heavy dollar devaluation from unprecedented money printing, as well as the major US debt situation

*gold price now $966 US ($34 away from hitting $1,000, but likely sticking longer this time due to money managers now aggressively positioning themselves for longer term inflation concerns)

*LIBOR is still extremely low, thus making our LT Debt terms very attractive for lenders

*Q1’09 financials will likely be issued very soon (maybe within May 31’09 deadline)

*a few weeks ago (based on preparation work requirements I had envisioned) I had suggested that the last week of May / first week of June might be a reasonable time period to expect close off of the $65M US deal. It is now May 29th and (although anything is possible, both good and bad) I have every reason to believe that this is still a reasonable time period for close off, but perhaps more on the side of first week of June (given that May is almost over). It would be great if it could happen next week, especially if the gold price inches even closer to $1,000 US. In the past, we have had way more than our share of bad luck, bad bounces and bad performances. Let’s hope that we have reinvented ourselves to the point where (starting next week) we can finally view ourselves as a respectable (professional), top notch, gold mining producer. You know the company I envisioned seeing when I first began investing in Century.

*Other

2 comments:

The Ref said...

Thanks for all your informative posts production! I fear a little bit still though. I sometimes think that this company will never show its true valuation as long as we have our present board. There really is no reason to be where we are today even with the depressed markets IMO. One side of me is excited for the the up coming financing, but the other is thinking that even when we are pouring gold from Lamaque again, we will still be dragging up the rear on the gold charts.

I hope I am wrong.

Mike

rick said...

come on mike dont be like that be positive