This is just some minor fyi info, as Century will likely not be doing anything with our Alaskan properties for a long long long time into the future (but you never know for sure). This info is very facinating nonetheless (check out the $ value of the Greens Creek Mine - below).
Greens Creek is a high grade polymetallic mine in production in the Juneau area. It is located about 30 km (or so) from Century`s own polymetallic property. Greens Creek is owned 100% by Hecla Mining. Hecla has been in business for about 100 years (I think one of the oldest mining companies in America), yet the CEO says that Greens Creek is by far the best mine Hecla has ever owned.
Hecla use to own 29.7% but increase their ownership to 100% in 2008. They paid Rio Tinto US$750M for the remaining 70.3%. It means that 100% of Greens Creek (a Juneau area polymetallic mine) was valued at about US$1.1 billion at the time of the transaction.
``The Greens Creek orebody contains silver, zinc, gold and lead, and lies adjacent to the Admiralty Island National Monument, an environmentally sensitive area.``
``Greens Creek is an underground mine which produces approximately 2,100 tons of ore per day. The primary mining methods are cut and fill and longhole stoping. The ore is processed on site at a mill, which produces lead, zinc and bulk concentrates, as well as gold doré. In 2009, ore was processed at an average rate of approximately 2,167 tons per day. During 2009, mill recovery totaled approximately 72% silver, 79% zinc, 69% lead, and 64% gold.``
Greens Creek`s (probable) reserves show grades of:
*12.1 opt silver
*0.1 opt gold
*3.6% lead
*10.3% zinc
Attached is a link to the Greens Creek profile on Hecla`s website. I highly recommend watching the short video about Greens Creek (link is at the middle of the Hecla page). The CEO is very excited about what they have there in Alaska. He really likes the geologic potential of the area.
http://www.hecla-mining.com/hmc_prop_greenscreek.html
8 comments:
Again, thank you for your diligence and sincere interest in sharing information about this company.
The negative is so well known surely there is a time coming when the fact of more potential will be accepted by the market.
Ron S
They have so many properties with a lot of potential, I guess the main issue is where to focus.
O/T does anybody here do any technical analysis? Looking at the 5 year chart it appears that we have a massive cup and handle formation. get ready for blastoff!
what is the negative?
i am looking for momentum. two more comsecutive up days will provide it.
RE; Negative
Paxman, Precisely, what really is negative?.I have been buying more.
So as for dark clouds hanging overhead... if she retired perhaps a few others will be able to as well. :-)
Ron S.
I don't expect that there's much of a technical side to what I'm about to say, but I'm certainly interested in whatever feedback comes...anyone who thinks Peggy ought to retire is out to lunch. While it wouldn't pain me to see Mr. Hughes hit the highway, getting rid of Peggy would be like cutting off the nose to spite the face. People who haven't been through a battle have no stand to judge people who have - period.
Granted, there are those who always keep making the same mistakes, but Peggy isn't one of them. This gal has paid her dues, and most importantly for those of us hoping to make a buck because we understand what makes a good gold miner, the lady knows how to dig up some bright metal.
Smart folks learn from their errors - and if you aren't making any, I promise you aren't learning a thing.
Sticking with Century isn't the most exhilarating ride I've had, but I know from long experience that common sense rules the long term. These folks have a lot of very profitable gold in the ground, and its beginning to come up. Its like Ms. Kent said at the conference call- a couple of months of drag getting into 12 years of production is OK. Better than backtracking later...
we may make a move in the gold to day-the jury is out as to which way.
that gold mining is a lot easier the higher the prices goes.
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