One of the drawbacks to a blog as compared to a stock forum like Stockhouse is that it is easy to miss a comment to a post if you don't check all recent posts for new comments. For that reason and the fact it is much easier to compose a new post, I usually prefer to make a new post rather than comment on an existing post.
Production05 I seldom, if ever, disagree with anything you post, but this time I'd like to make an opposing case for relocation of the Head Offices of Century Mining from the US to Canada. You do make a lot of valid points, but I think now is the time to become a truly Canadian company.
The company is, in fact, a Canadian company as it was incorporated in British Columbia in 1994 and is subject to Canadian laws and trades on a Canadian exchange and will pay Canadian taxes when profitable. The head office is in Blaine, Washington only because that is where Peggy Kent lives and she owns the building where Century rents space from her. There is no reason to continue to do so, but I agree the transition has to be a gradual process. I'd like to see it happen this year. We only need to relocate key management and technical people, but many of the accounting and data entry positions are easily fill-able at the new location.
I agree with you that Century should be located in Toronto rather than Vancouver. Apart from the reasons you cited, it is much closer to our operations in Val d'Or and Peru which would reduce travel costs and time and we'd be in the same time zone as our mining operations.
We are supposed to get our new CEO sometime in the fall. I'd like the company to tell prospective candidates that they will be located in Toronto, Canada - not Blaine, Washington.
Now might also be a good time to change the name of the company to something with the word "Gold" in the name. A lot of investors lost money on the decline in share price from its $1.89 peak to the low single digits. A new management and a new name might help to erase the PK experience and help bring them back once the company demonstrates its return to profitability.
On another note, I'd like to thank all contributors for their posts and comments and welcome Mike who posts on Stockhouse as Giftedone. He is one of the very few sensible posters on that Forum. Mike, if you'd like to become a blog member and have the ability to create new posts, send me an email to centurycarib@gmail.com. Of course that invitation is open to all of you "commenters".
4 comments:
Hi Carib,
Now u say so, how about New Century Gold Corp? Had been toying with this name change for sometime. Frankly, it took me a few rounds before I realised Century Mining is not a base metal mining co
Wingfong,
New Century Gold Corp might work. Both Century Gold and Century Gold Corp might also. Although, there is a private exploration company in Nevada called Century Gold LLC (I think they have a couple of royalty properties also - with majors). Maybe it wouldn`t matter unless they go public one day. It might get a bit confusing at that point, but it could still work. Here is their website:
http://www.centurygold.com/
Carib,
I thought I had heard somewhere that Century is registered in the US. Although, I don`t know what exactly would be registered in the US (given that trading is registered in Canada - perhaps such administrative things as company name, license to conduct business, etc. (maybe Century needs such adminstrative registrations in Canada, Peru and the US due to property holdings in all of those countries - Century has Century Peru and Century Finance as subsidiaries in Peru, I`m not sure how the Corporate Office is now structured, especially after the changes last year for security documentation purposes)).
I don`t know the registration details that existed when Century was officially formed. Peggy and company took over management of a TSX Venture trading company called Saxony then did a name change to Century Mining. I don`t have any details of how Saxony was registered (non-trading registration details) prior to the name change.
Getting back to Century, maybe I just heard ``headquartered in the US and trades in Canada``. It`s possible that my mind replaced the word ``headquartered`` with the word ``registered``. I can see myself doing that, as it`s probably not something I would have listened to very closely.
How about Lamaque Gold?
A couple of humorous offtakes on this idea:
Any Century Now Gold Corp.
Anathemetals
Where's The Gold Corp.
Some Day Precious Metals
Lamakky-Juan Gold
Sorry, fellow sufferers...couldn't resist & all in good fun!
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