Only 6 business days remaining for the documentation finalization process (including today)

1) "Management continues to finalize the completion of documentation......., the Company expects that the closing of these financings will be prior to December 25, 2009."

Off the top of my head, it appears as if most of the complex liens on Century assets and other creditor situations have already been negotiated:

*the IQ buyout deal is set

*the Teck royalty buyout deal is now set

*there appears to be an understanding with Gerald Metals with regards to the $2.6M payment timeframe (upon closing of financing)

*the $1M owed to MRI appears to be unsecured (so no liens), but it's possible that the international bank might still prefer to see a settlement first before closing the financing deal (I have no idea). Perhaps Century should try to settle for something like $750K (a win/win figure, since MRI's actions resulted in damages to Century). MRI might play hardball and insist on $1M - if such is the case then I hope the international bank would disregard this item for the closing, especially since it's likely an unsecured item. I guess we'll eventually see.

*the $3.5M environmental bond has already been paid to Quebec

*payables are unsecured liabilities (and we already know a chunk of the payables will be eliminated once financing is in place

There are a few other very minor Balance Sheet items that may need to be looked it, but no show stoppers. Unless there are any major surprises I am not aware of, there should not be any Balance Sheet items (secured or unsecured) or liens on Century assets to prevent documentation flow. I guess we will know in time.


2) There was a sign yesterday that the new IR guy has started. Century's NR was distributed via Market Wire and Marketwire Canada, instead of usual CNW. It's not clear if this was a permanent move or just a one time experiment. It's also not clear if the move was made due to the new IR guy being more familiar with Market Wire and Marketwire Canada or if it's due to the new service having greater distribution. Perhaps it's a bit of both. The new guy is from Hawthorne Gold, and previously El Dorado Gold. Hawthorne Gold was using Market Wire and Marketwire Canada up until November 20'09, when they switched over to CCNMatthews. That's likely about the time period he departed Hawthorne.

Let's hope he's working on an improved website and a new Corporate Presentation for Century. More importantly, let's he is working on rolling out a solid plan to reconnect Century to institutional investors.