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We need to see the money in the bank first. That will allow more institutional investors to load up. Regulations may not allow them to buy the company without knowing that the money is good to go. We see .70 for the near future. Good luck all!
I believe that it will be a tight squeeze to close everything off in this week also. I think it's still possible to get it done this week, but it's likely in the hands of the TSX Venture (unless the International Bank is interested in doing a firm close with a small condition built in with regards to attaining the TSX-V document - based on how the process has progressed, it looks like the bank only wants to do one final close with all documents included and no conditions).
Here is part of my post from about 1.5 weeks ago:
"3)Royalty buyout from Teck Resources."
"The December 24th major financing close off could become a tight squeeze due to this transaction. With 1,500,000 shares being issued, (using our conclusions from above) it could invoke separate approval from the TSX-V. The NR was issued this past Wednesday (2 or 3 business days ago). Can we get approval by the TSX-V on Monday, Tuesday or Wednesday of next week – leaving just enough time for final circulation and approval of the overall package by all parties? It’s possible, but it might be out of Century’s control. Now, TSX-V has a process where companies can file for expedited approval by the TSX-V. Hopefully Century has used the expedited filing approach."
I didn't see the TSX-V filing approval go through today. It has been about 7 or 8 days since the royalty buyout NR was released. The TSX-V could still approve tomorrow or Thursday (it's a rather simply transaction relative to our other recent transactions), but the window is getting narrow for 2009.
Either way, assuming final closing of the major deal happens within the next week or two, we are still looking at January for Lamaque start up. However, start up doesn't mean gold pour right away though. Realistically, we are likely looking at May or June for first gold pour if all goes well.
I think the timing of mining ramp up will depend heavily on how well recruitment and training of miners progress over the next 1 to 4 months, and also the type of changes implemented by the new Lamaque Operations person. He just started a few weeks ago. He is our expert. Like anyone starting a new job, I'm sure he will come up with new ideas/adjustments (to maximize Lamaque's success) once he has reviewed everything in detail - whether those changes speed up first gold pour, or pushes back first gold pour, or has no impact on the timeline at all, I guess we have to wait and see.
Almost a million shares sold by Anonymous today. I'm guessing that these are shares acquired in the 13-cent PP earlier this year.
3 comments:
Thanks for the awesome evaluations and information, production5.
So where do we sit now. I believe they were talking Lamaque in production in January. Is that our next big milestone?
We need to see the money in the bank first. That will allow more institutional investors to load up. Regulations may not allow them to buy the company without knowing that the money is good to go. We see .70 for the near future. Good luck all!
I believe that it will be a tight squeeze to close everything off in this week also. I think it's still possible to get it done this week, but it's likely in the hands of the TSX Venture (unless the International Bank is interested in doing a firm close with a small condition built in with regards to attaining the TSX-V document - based on how the process has progressed, it looks like the bank only wants to do one final close with all documents included and no conditions).
Here is part of my post from about 1.5 weeks ago:
"3)Royalty buyout from Teck Resources."
"The December 24th major financing close off could become a tight squeeze due to this transaction. With 1,500,000 shares being issued, (using our conclusions from above) it could invoke separate approval from the TSX-V. The NR was issued this past Wednesday (2 or 3 business days ago). Can we get approval by the TSX-V on Monday, Tuesday or Wednesday of next week – leaving just enough time for final circulation and approval of the overall package by all parties? It’s possible, but it might be out of Century’s control. Now, TSX-V has a process where companies can file for expedited approval by the TSX-V. Hopefully Century has used the expedited filing approach."
I didn't see the TSX-V filing approval go through today. It has been about 7 or 8 days since the royalty buyout NR was released. The TSX-V could still approve tomorrow or Thursday (it's a rather simply transaction relative to our other recent transactions), but the window is getting narrow for 2009.
Either way, assuming final closing of the major deal happens within the next week or two, we are still looking at January for Lamaque start up. However, start up doesn't mean gold pour right away though. Realistically, we are likely looking at May or June for first gold pour if all goes well.
I think the timing of mining ramp up will depend heavily on how well recruitment and training of miners progress over the next 1 to 4 months, and also the type of changes implemented by the new Lamaque Operations person. He just started a few weeks ago. He is our expert. Like anyone starting a new job, I'm sure he will come up with new ideas/adjustments (to maximize Lamaque's success) once he has reviewed everything in detail - whether those changes speed up first gold pour, or pushes back first gold pour, or has no impact on the timeline at all, I guess we have to wait and see.
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