If people have additional comments please feel free to post them. We need to get more discussion going in here!!!
Monday, August 23, 2010
My thoughts
Well People, At this point in the game we have the Russian’s to give us cash when we need it and we are now making positive numbers in most recent statements. Much of the risk has been eliminated from century as we get into the late Fall I am convinced that we will see the share price appreciate greatly with financial's and more mine development things should go well. To be honest there is not much holding us back at this point, most major firm still very bullish on gold which is obviously a plus for us. Now if we can bring in a half decent CEO we will be good to go. Victors 5 Bagger statement on BNN was very conservative and we back up those figures as-well. I simply can’t see what could hold this stock back from this point forward so I will continue to buy as long as we stay under .70. If you compare this stock to other that are very similar some are trading in the 3-5$ range which brings up the question why our stock is so low currently. I blame the CTO that we had, that definitely knocked the wind out of us but I think we will be fine for the future. There was some talk about Shares outstanding and I just wanted to say that the actual Public float is less than 170million. The other shares are held by insiders. Also, the fact that we have had huge reads on this wall means that we have been attracting some attention from the public and new investors. At this point in time we consider Century to be a very good play and none the less a risk but a calculated risk. We consider it a buy with a target of a buck for the near term.
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6 comments:
i had this comment posted in Chillby's "How Many Shares Are There?" I have added and ammended some details and re-post it here again.
Three to five months ago, things were hazy and we wrote more on possibilities only. There were much doubts, anxiety, even pain and the tendency to look over our shoulders for bad things to happen.
Now, the mine's fronts have made so much advancements that I can detect and am truly elated to see Prod05 able to easily quantity and assigning dollar values onto things. Thanks to all those who dedicated themselves to the mines and management, madness seems to have subsided and methods are coming to the front. As such, with this new perception, I would like to see that the coming CEO is a true heavy weight. I just can't bring myself to accept a half decent CEO (sorry, Mrstompy, no intention to sling mud).I do not mind nil dividend deing declared in the near terms but I will certainly judge him against the company's growth, growth rate and the growth of the company's market cap.
Quite obviously, the dirty, messy start-up heavy liftings had mainly been done or in place. So, among other things, he will surely need to deliver on these two scores to prove his worth. As such, I just want to say again that a half decent CEO need not apply. CMM deserves and has the means to hire a true heavy weight. I think I can say for all retail share holders that we want the best.
I see two issues with who we get for a new CEO: the first will be finding a candidate who enjoys Bay Street's respect. Without this we may wind up never attracting the attention we so richly deserve (as a resource-stocked miner). The second hurdle will be finding such a person who has the willingness to work with our BOD and for a company with the history we have. The Mafiya activities going on at Norilsk right now are not lending much popularity to working for Russians. While I have a great deal of personal respect for Max Finskiy, there may be others who are more prone to throwing the baby out with the bathwater.
Century is going to have to pony up a pretty attractive package to lure such a fish. Fortunately, we have the resources to do so. It remains to be seen whether the BOD will actually put that kind of money on the table. I do believe that they are as aware of these issues as they can be. The investment houses will be waiting until the pudding comes out of the oven.
I am going back to cliche school. BTW, Mr. Stormpay- thanks for the clarification on share float. I knew I had that number from somewhere. Late-night notes are sometimes confusing in the daylight...
Wingfong, yes I agree with the CEO situation. I should have been more clear with the CEO situation. In order for share price to be bumped up we need a CEO that has much experience and a CEO that has a very good track record. Thanx
I agree with you guys. One thing that can go against us is the market. Double dip is becoming more real. Although fundamentally CMM is only (for the most part) tied to gold price, what is the psychological effect will be, if there is a double dip?
Although I think the US will temporarily avoid the double dip with more stimulus money considering we are nearing elections.
As long as the government keeps printing money, we'll have a bull market in gold. Fundamentally, every government that prints its own currency runs the Zimbabwe Risk. We don't have a modern-day Paul Volcker-though if we did, he'd raise interest rates and damn the torpedoes. Just the same, I don't hear any other ideas coming from DC, the EU, AU or CDN. Keep printing cash...
It may actually happen that the investment houses are herded into gold because it becomes the "profit of last refuge." If this happens, Katie Bar the Door on a company like ours - in production, ramping up, and reserves we haven't begun to count. All we need is some dedicated, concerted action in our most impending hiring decision.
IMHO, Chillby has basically sum up the essence of the game. Among the countless economic woes in the states, with the US bonds becoming an ever bigger bubble in particular and the Fed continues to print its trillions, gold will become (it already has become, in my opinion) the ultimate financial save haven and wealth preserver.
It is getting clearer by the days that several reputable gold commentators are voicing their opinions that they are removing their near term gold price targets of US$1500-US$2000 in response to what are happening in the US financial markets and what Benanke had done and what they anticipate will be his next moves.
One can detect over the last 2 to 3 months or so, the frequency in suggesting/advocating the merits and needs to gain exposure in the gold miners (suggesting gaining exposure in gold bullions is old news) has increased markedly
As such, I do expect a soon-to-be heightened interest in the gold mining sector favouring gold producers in particular. As for CMM, my near-term target is $2.00 to $2.50 at which point I will review it again. I still have my buy orders on stand by
As for the new CEO, I view him as a critical figure to CMM's success and I believe, guided by the wisdom of our BOD and the international personnel recruiting house (I am told it is also called a head hunting co!), a true heavy weight will come on board.
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