Odds and ends

1) Bedard Dyke Drilling
We’ve probably been drilling for 4 weeks now. I wonder if the assay results will be back within the next 2 to 3 weeks. I guess it all depends on how busy the external labs are at this time.

2) Vulcan Resource Update
We are probably overdue for the next update. We have received 3 updates so far this year (February, April and June) and they have been very fruitful in either significantly increasing our 43-101 resource count or identifying new high grade zones, or both. It would be good if they could release another update in November so that all parties involved in the financing deal can get a refresher of Lamaque’s resource potential in this US$1,040 (potentially US$1,500 to US$2,000) gold price environment. This isn’t the late 90s with US$250 – US$300 gold. We have the right product for this market – gold.

3) Our Val d’Or properties outside of the Lamaque Complex
At some point after the major PP gets closed off I would like to see Century toss a bit of spare change towards initiating work on one or two of our high potential target areas on these properties (if it doesn’t get in the way of the start up of course). There have already been some really good drill results in some areas in the past. Perhaps Century can create a Vulcan model with these historical drilled data also, thus enabling them to better select drill targets (along with the assistance of mapping, surveys, rock samples, pit holes, etc.). I would like to see Century drill maybe about 10 holes to test the continuation potential of the historical holes.

I personally believe there is enormous potential here.

I think demonstrating the potential of our adjacent properties will get some of the skeptics (the ones that don’t like old mines) excited about our fresh new un-mined Val d’Or properties.

From the Salaried Staffed Personnel job posting: “There also exists significant exploration potential on and near the property which is expected to add substantial ounces and years to the current production schedule and mine life.”

4) IQ Debt
I wonder if they will renegotiate the IQ Debt down from C$16.1M to say C$11M then pay it completely off later in the ramp up phase once the Lamaque development targets are achieved and the C$10.8M (US$10M) is released by the bank (from the Performance Reserves Account). It would allow Century to be pretty much debt free other than the US$33M prepaid gold sale to the bank, which will be paid back by delivering the 61,000 gold ounces over the next 5 years. It would also mean no interest payments to make which will be positive on our cash flow.

From the Circular: “The closing of the Private Placement is subject to, among other things, the following conditions:”

“(e) an agreement shall have been entered into with respect to either a buy-out or renegotiation of the long
term note held by Investissement Québec, on terms satisfactory to the Investor acting reasonably;”

5) The Exchange has conditionally approved the major PP
From the Circular: “The Exchange has provided its conditional acceptance to the Private Placement subject to the Company obtaining disinterested shareholders’ approval on the creation of new Control Persons and other customary conditions of the Exchange, including the Company issuing a press release with respect to increasing the size of the Private Placement from $20,000,000 to $21,000,000.”

6) Investor’s intention for Century: ‘sizeable gold producer’
From the Circular: “Kirkland and Gravity have indicated their intention to grow the Company into a sizeable gold producer and Shareholders should benefit from this growth and support.”