Sunday, June 13, 2010

I imagine the following 2 items are likely not too far away

1) The 3 drill holes drilled at the end of May. Century`s in-house assay lab is open, therefore much quicker turnaround time. It`s not clear if Century will release any results though. I don`t think the first few holes are ``sexy`` type holes (like the Bedard Dyke holes), although these holes should be very good for mine planning purposes. I think they are just drilling ahead of the mining, in the Lamaque flats. It should also help them with building the mining reserves in the flats (in addition to provide valuable info for actual mining and development of stopes).

The drilling might become more interesting to the casual (jump around) market audience once they start with the discovery test holes (i.e. test to see if the BD mineralization bumps into north dippers that were mined in the open pit days, test to the north of the BD where there was historical mining and mineralization is thought to still remain).

2) The updated SJ 43-101 report


Also, it`s almost mid June. It means that almost 1.5 months has elapsed of the estimated 5 months for the long-hole stoping permit. That means the estimate is now 3.5 months before we get the permit. It would be nice if the crown pillar study is ahead of schedule. If we get a nice surprise and get the permit say in month 3.5 or 4.0 (instead of month 5.0) then that would be very positive. Long-hole stope mining (of the BD and the North Wall) is what is going enable us to drive out really nice cash cost per ounce.

3 comments:

chillby said...

Carib,
Would you mind posting trading summaries for last week and today...trying to figure out why Godzilla is sitting on my leg...
Thanks!

Anonymous said...

Carib,

What are your thoughts on earnings for Q2. Looking at Q1 numbers 1.5 or so million was spent on San Juan upgrades. With that completed we should be profitable in Q2 based on San Juan alone. Add in production from Lamaque and CMM should be quite profitable should it not ?

Gifted One

paxman said...

people better want this stock at nearly this price or its no good now.