BLAINE, WASHINGTON--(Marketwire - Sept. 30, 2010) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) today announced that it will release its third quarter 2010 results on Monday November 15, 2010, after normal trading hours.
The Company's senior management will host a conference call on Tuesday, November 16, 2010 at 11:00 AM (P.S.T.) to discuss financial results and provide an update of the Company's activities.
Mining analysts, investors and the media are invited to dial toll-free 1-888-942-9044 in Canada and the United States, or 1-517-308-9426 from international locations (normal toll rates do apply) and state the verbal passcode "CenturyMining". To ensure participation, please dial approximately 5 minutes before the scheduled start of the call.
The conference call will be archived for later playback and may be accessed by dialing 1-888-562-7623 or 1-402-220-6504 and entering the pass code 1324#, or via www.centurymining.com via a downloadable audio file. The archived playback will be available until November 30, 2010.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
Keith Hulley, Interim CEO
Thursday, September 30, 2010
Wednesday, September 29, 2010
Article On century
http://www.proactiveinvestors.com/companies/news/8757/century-mining-drills-high-grade-gold-at-bedard-dyke-lamaque-gold-mine-in-quebec-8757.htmlTuesday, September 28, 2010
Century Mining Drills High Grade Gold At Bedard Dyke, Lamaque Gold Mine In Quebec
Canadian junior gold producer Century Mining (TSX-V:CMM) has reported high grade results from the first seven diamond drill holes at its first underground drill station in the Bedard Dyke at the Lamaque Gold Mine in Val D'Or, Quebec.
Significant results include hole 10-2760-1, which returned 1.34m gradng 67.5g/t Au (uncut), 31.10g/t Au (cut to 1oz/t), hole 10-2760-4, which intersected 2.41m grading 27.66g/t Au (uncut), 25.36g/t Au (cut) and hole 10-2760-3, which returned 1.62m grading 25.57 g/t Au (uncut), 20.74 g/t Au.
"The Bedard Dyke drilling continues to delineate high grade mineralization not currently within the company's existing proven and probable reserves or measured and indicated resources at Lamaque, which exceed 2.4 million ounces of gold," said interim CEO Keith Hulley.
This first drill station was designed to test the extent of both the Bedard Dyke contacts and the internal structure of the mineralization in areas where no previous drilling was done, the company said.
These results, along with continued drilling campaigns in the Bedard Dyke, will be used to complete a new 3D wire-frame model to assist in mine planning and resource estimation.
Century Mining is planning to complete a mineral resource estimate in 2011, compiled from current and future drilling at the Bedard Dyke zone.
All potential resources derived from the zone will be added to the current mineral resources already published for the Lamaque complex.
The company expects to soon be producing tonnes from the Bedard Dyke zone, which it considers a key component of its development plan for the Lamaque mine.
Century Mining holds land positions in Canada, the United States and Peru.
CMM rated "Outperform"
I noticed today is the first time we have an analyst rating in the Scarsdale Equity Compilation of Analyst ratings on Miners. These are compiled by analysts that report to Thomsons First Call. We were rated a "Outperform."
http://www.kitco.com/ind/matlack/sep272010_juniors.html
Upon further research this is validated by the Reuters CMM page
http://www.reuters.com/finance/stocks/analyst?symbol=CMM.V
"Outperform" of course is a ridiculous understatement IMO but a good start considering we have not been rated at all in the past.
http://www.kitco.com/ind/matlack/sep272010_juniors.html
Upon further research this is validated by the Reuters CMM page
http://www.reuters.com/finance/stocks/analyst?symbol=CMM.V
"Outperform" of course is a ridiculous understatement IMO but a good start considering we have not been rated at all in the past.
Does anyone here know how to find out which analyst rated us here? Was it Union Securities or another entity I wonder.
RE
RE
Tuesday, September 28, 2010
Depth....I would post full depth but it does not copy paste well(:
| # Orders | Shares | Bid | Ask | Shares | # Orders |
| 6 | 19000 | 0.475 | 0.480 | 12000 | 1 |
| 11 | 133500 | 0.470 | 0.485 | 24000 | 2 |
| 2 | 20000 | 0.465 | 0.490 | 20000 | 2 |
| 3 | 23000 | 0.460 | 0.495 | 15500 | 2 |
| 4 | 64500 | 0.450 | 0.500 | 180500 | 12 |
Monday, September 27, 2010
Friday, September 24, 2010
news
BLAINE, WASHINGTON, Sep 24, 2010 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Century Mining Corporation ("Century" or "the Company") (TSX VENTURE:CMM) is pleased to announce that it has closed the additional non-brokered private placement announced September 17, 2010. The private placement consisted of 3,105,846 units (the "Units") of the Company, at a price of $0.39 per Unit, for gross proceeds of $1,211,280. Each Unit consisted of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable for one common share at $0.60 for 18 months from closing.
The Company paid cash finder's fees totaling $48,754 in connection with the closing of the private placement. All securities issued under this private placement will be subject to a four-month hold period.
The proceeds from this offering will be used for the continued commissioning of its Lamaque Gold Mine operation in Val d'Or, Quebec, Canada, and as working capital.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
Keith Hulley, Interim CEO
Toronto Resource Conference this Weekend
Century will be exhibiting and presenting this weekend at the Toronto Investment Conference.
I also noticed they added several events for November.
My theory is they will be hitting these November Conferences with positive news on Bedard Dyke already announced to promote.
I also noticed they added several events for November.
- Nov 5-6 - Montreal Investment Conference
- Nov 21-22 - San Francisco Hard Assets Investments Conference
- Nov 22-25 - Quebec Exploration 2010
My theory is they will be hitting these November Conferences with positive news on Bedard Dyke already announced to promote.
Thursday, September 23, 2010
Germany, the world's largest retail gold investor
Century Mining is already listed on 3 German exchanges. Century should try aggressively promoting the Century story in Germany, Austria and Switzerland. German retailers (especially) appear to be hungry for gold right now, even more so than the Indians and the Chinese (per the most recent purchasing stats - below).
As I have mentioned on this blog in the past, Severstal (IMO) has done everything possible to suppress the High River Gold (HRG) share price over the past 2 years (for their own agenda, IMO), including absolutely no promotion. As such, Chris Charlwell, a minority HRG shareholder, took it upon himself to hire an Investor Relations company to promote HRG in Germany, Austria and Switzerland. He has spent US$195K of his own money thus far. Granted, Chris is wealthier than your typical retail investor, thus has more flexibility to take on such an initiative.
Anyway, he has received confirmation that new European investors are buying HRG shares. Also, HRG`s share price has increased from $.75 to $1.04 today, since he started his personal promotional campaign. Chris wrote this today:
``A few months ago I took it upon myself to hire an Investor Relations company – Precious Metals Investments - to promote the HRG story in Germany, Austria, Switzerland. I decided to do this in case HRG management and Severstal would only promote the Severstal Gold story. Germany has become the world’s largest retail purchaser of gold. See article below. I have invested US$195k in this program and it has been confirmed to me that new European investors (including funds) have been buying HRG since $.75 and continue to buy regularly.``
From the attached article:
``Germany in fact came in as the world's largest purchaser of retail gold investment products during the quarter at 44t against India's 42 and China's 36t.``
http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=110257&sn=Detail
As I have mentioned on this blog in the past, Severstal (IMO) has done everything possible to suppress the High River Gold (HRG) share price over the past 2 years (for their own agenda, IMO), including absolutely no promotion. As such, Chris Charlwell, a minority HRG shareholder, took it upon himself to hire an Investor Relations company to promote HRG in Germany, Austria and Switzerland. He has spent US$195K of his own money thus far. Granted, Chris is wealthier than your typical retail investor, thus has more flexibility to take on such an initiative.
Anyway, he has received confirmation that new European investors are buying HRG shares. Also, HRG`s share price has increased from $.75 to $1.04 today, since he started his personal promotional campaign. Chris wrote this today:
``A few months ago I took it upon myself to hire an Investor Relations company – Precious Metals Investments - to promote the HRG story in Germany, Austria, Switzerland. I decided to do this in case HRG management and Severstal would only promote the Severstal Gold story. Germany has become the world’s largest retail purchaser of gold. See article below. I have invested US$195k in this program and it has been confirmed to me that new European investors (including funds) have been buying HRG since $.75 and continue to buy regularly.``
From the attached article:
``Germany in fact came in as the world's largest purchaser of retail gold investment products during the quarter at 44t against India's 42 and China's 36t.``
http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=110257&sn=Detail
Tuesday, September 21, 2010
Second PP Filed
Century Mining 3,105,846-unit private placement
Century Mining Corp (C:CMM)
Shares Issued 366,963,444
Last Close 9/21/2010 $0.495
Tuesday September 21 2010 - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 17, 2010.
Shares:3,105,846
Price:39 cents
Warrants:1,552,923 share purchase warrants to purchase 1,552,923 shares
Exercise price:60 cents for an 18-month period
Hidden placees:13
Finders' fees:$24,964 cash payable to Union Securities Ltd.; $3,900 cash payable to Raymond James Ltd.; $15,015 cash payable to Canaccord Genuity Corp.; $4,875 cash payable to TD Securities Inc.
Century Mining Corp (C:CMM)
Shares Issued 366,963,444
Last Close 9/21/2010 $0.495
Tuesday September 21 2010 - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 17, 2010.
Shares:3,105,846
Price:39 cents
Warrants:1,552,923 share purchase warrants to purchase 1,552,923 shares
Exercise price:60 cents for an 18-month period
Hidden placees:13
Finders' fees:$24,964 cash payable to Union Securities Ltd.; $3,900 cash payable to Raymond James Ltd.; $15,015 cash payable to Canaccord Genuity Corp.; $4,875 cash payable to TD Securities Inc.
Some thoughts – 2P Reserves
We officially have 1.135M ounces in 2P Reserves for Lamaque, as an official 43-101 figure. I don`t know when Century will be in a position to revise that number. I am not in a position to know with any level of certainty if any changes will be material enough to make a difference.
Nevertheless, basic logic would suggest that we are mining with an unofficial 2P count that is above that total:
1) Bedard Dyke:
That 43-101 total only includes 21K ounces for Sigma West. The Sigma West area is essentially the same general area as the Bedard Dyke. It is not clear if any of those 21K SW ounces represent BD. There were only 3 BD drill holes at the time the last 43-101 report was generated. As such, BD was likely not represented much (if at all) in the 2P category of the last 43-101 report.
Century has advanced BD materially on the exploration front since the last 43-101 report. Century carried out a very successful exploration program that included 21 diamond drill holes. The company was not able to reach all of the targets from the surface, thus a number of drill targets still remain both within the dyke and beyond official dyke area. In addition, over the last month or two, Century has been performing definition/infill type drilling within the BD. As mentioned in my last post, I believe the primary reason for this drilling is to identify ore blocks in preparation for mining. Most likely (at least logic would suggest), a secondary benefit to the definition drilling should be additional infill data to support 2P reserve calculation for 43-101 purposes (at some point in the future).
2) Lamaque Flats:
Jul 6`10 NR: ``Of significance, during startup, approximately 30-35% of the milled tonnage was mined from outside the Company's underground resource base due to the continuation of vein systems or discovery of new mineralized areas as mining was in progress. The Company believes that additional "new" tonnage will continue to be mined within stope complexes that has never been placed, recorded or defined in the current resource base. ``
Based on actual performance of the stopes in this area, especially with significant continuation being realized with almost all of the stopes, an opportunity exist to add 43-101 ounces to both total Resources and 2P Reserves. I believe the company has been performing definition drilling in the Lamaque Flats for a number of months now. The drilling relates to advance work in order to better predict vein pinches and swells, to identify direction of the veins in advance and to gather other helpful info prior to mining particular stope areas.
However, similar to the BD definition drilling efforts, some of the infill drill data should be supportive of 43-101 calculation efforts. The data gathered during actually mining should provide fruitful info also. Hopefully they will have sufficient data to be able to add at least some of the 30-35% extra stope ounces to both the 2P Reserves and the Total Resource column of the 43-101 report (at some point in the future). Given that some of the stopes extend for long distances (2 km in the case of at least one stope), it may be difficult of Century to come up with the sufficient infill data far enough advance of mining (for 43-101 purposes). I guess we`ll have to wait and see what is possible.
3) North Wall:
There are 256,000 ounces of 2P Reserves and an additional 408,000 ounces book to Inferred for North Wall in the 43-101 report.
My guess is the North Wall might go through a similar drill definition exercise as the BD is currently going through – at least to better identify the ore blocks ahead of mining. Exploration possibilities increase once a decline access is in place and underground drifts are established to roam around within. Hopefully Century will take advantage of the situation to prove up the 408,000 Inferred ounces over the next couple of years or so.
4) Other mid-term opportunities (if required):
*Road Zone (near surface) – 251,000 ounces (94K in M&I, 147K Inferred), not currently built into the 3 year mining plan. Perhaps they can eventually drift over to mine those ounces from the Lamaque Flats (perhaps once they roll out the new mine plan, down the road at some point)
*Below Sigma Pit (1000 – 2000 ft from surface) – 715,000 ounces (430K in M&I, 285K Inferred). As noted in my previous post, the North Wall mineralization starts below pit level (or so I have read). The significance of this is that the North Wall decline could go to a relatively deep level. Given that it is starting at the pit bottom, it is logical to think it could eventually go to 1,000 – 2,000 ft level if necessary (relative to distance from the surface). I don`t remember how deep the pit is exactly. Let`s assume it is 600 ft down for strictly the purpose of this exercise. That would mean the North Wall decline only has to go down 1,400 ft to reach the 2,000 ft level. Of course, that all depends on the water situation in that particular area. My understanding is the Lamaque no. 2 decline goes down to the 2,000 ft level (not sure if part of it is in water though). Assuming water conditions are good in particular areas, one has to wonder if some of the 715,000 ounces (at the 1,000 – 2,000 ft level from the surface) is close enough to be reached via drifting from the North Wall decline. I guess we`ll see if they build something into the next mine plan (down the road).
*There are other promising near-surface areas also, such as the Cross Over Zone, but I will write about that another time.
Of note, detailed 43-101 figures used in this post can be found on pg iii to pg v of the latest Lamaque Technical Report.
Nevertheless, basic logic would suggest that we are mining with an unofficial 2P count that is above that total:
1) Bedard Dyke:
That 43-101 total only includes 21K ounces for Sigma West. The Sigma West area is essentially the same general area as the Bedard Dyke. It is not clear if any of those 21K SW ounces represent BD. There were only 3 BD drill holes at the time the last 43-101 report was generated. As such, BD was likely not represented much (if at all) in the 2P category of the last 43-101 report.
Century has advanced BD materially on the exploration front since the last 43-101 report. Century carried out a very successful exploration program that included 21 diamond drill holes. The company was not able to reach all of the targets from the surface, thus a number of drill targets still remain both within the dyke and beyond official dyke area. In addition, over the last month or two, Century has been performing definition/infill type drilling within the BD. As mentioned in my last post, I believe the primary reason for this drilling is to identify ore blocks in preparation for mining. Most likely (at least logic would suggest), a secondary benefit to the definition drilling should be additional infill data to support 2P reserve calculation for 43-101 purposes (at some point in the future).
2) Lamaque Flats:
Jul 6`10 NR: ``Of significance, during startup, approximately 30-35% of the milled tonnage was mined from outside the Company's underground resource base due to the continuation of vein systems or discovery of new mineralized areas as mining was in progress. The Company believes that additional "new" tonnage will continue to be mined within stope complexes that has never been placed, recorded or defined in the current resource base. ``
Based on actual performance of the stopes in this area, especially with significant continuation being realized with almost all of the stopes, an opportunity exist to add 43-101 ounces to both total Resources and 2P Reserves. I believe the company has been performing definition drilling in the Lamaque Flats for a number of months now. The drilling relates to advance work in order to better predict vein pinches and swells, to identify direction of the veins in advance and to gather other helpful info prior to mining particular stope areas.
However, similar to the BD definition drilling efforts, some of the infill drill data should be supportive of 43-101 calculation efforts. The data gathered during actually mining should provide fruitful info also. Hopefully they will have sufficient data to be able to add at least some of the 30-35% extra stope ounces to both the 2P Reserves and the Total Resource column of the 43-101 report (at some point in the future). Given that some of the stopes extend for long distances (2 km in the case of at least one stope), it may be difficult of Century to come up with the sufficient infill data far enough advance of mining (for 43-101 purposes). I guess we`ll have to wait and see what is possible.
3) North Wall:
There are 256,000 ounces of 2P Reserves and an additional 408,000 ounces book to Inferred for North Wall in the 43-101 report.
My guess is the North Wall might go through a similar drill definition exercise as the BD is currently going through – at least to better identify the ore blocks ahead of mining. Exploration possibilities increase once a decline access is in place and underground drifts are established to roam around within. Hopefully Century will take advantage of the situation to prove up the 408,000 Inferred ounces over the next couple of years or so.
4) Other mid-term opportunities (if required):
*Road Zone (near surface) – 251,000 ounces (94K in M&I, 147K Inferred), not currently built into the 3 year mining plan. Perhaps they can eventually drift over to mine those ounces from the Lamaque Flats (perhaps once they roll out the new mine plan, down the road at some point)
*Below Sigma Pit (1000 – 2000 ft from surface) – 715,000 ounces (430K in M&I, 285K Inferred). As noted in my previous post, the North Wall mineralization starts below pit level (or so I have read). The significance of this is that the North Wall decline could go to a relatively deep level. Given that it is starting at the pit bottom, it is logical to think it could eventually go to 1,000 – 2,000 ft level if necessary (relative to distance from the surface). I don`t remember how deep the pit is exactly. Let`s assume it is 600 ft down for strictly the purpose of this exercise. That would mean the North Wall decline only has to go down 1,400 ft to reach the 2,000 ft level. Of course, that all depends on the water situation in that particular area. My understanding is the Lamaque no. 2 decline goes down to the 2,000 ft level (not sure if part of it is in water though). Assuming water conditions are good in particular areas, one has to wonder if some of the 715,000 ounces (at the 1,000 – 2,000 ft level from the surface) is close enough to be reached via drifting from the North Wall decline. I guess we`ll see if they build something into the next mine plan (down the road).
*There are other promising near-surface areas also, such as the Cross Over Zone, but I will write about that another time.
Of note, detailed 43-101 figures used in this post can be found on pg iii to pg v of the latest Lamaque Technical Report.
Monday, September 20, 2010
Hedgehog writer bio
I was able to look into the files properties to see whose computer it was created on and I came up with this guy.
- Current
- Owner at Hedgehog Trader
- Virtual Fund Manager at Marketocracy.com
- Past
- Investment Writer at Delphi Associates
- Education
- University of Toronto
- University of Toronto - University College
- WebsitesFinancial ServicesIndustry
Nicholas Winton’s Summary
Nicholas Winton’s Specialties:
Forecasting the rise/fall of commodities, indices and uniquely - individual stocks, over the short-term, long-term and even on a week-to-week and day-to-day basis using traditional methods, technical analysis, contrarian strategy, and most importantly, Hedgehog Trader's own proprietary Alpha Signals. Finding undervalued resource companies about to explode in value!
Nicholas Winton’s Experience
Owner
Hedgehog Trader
(Financial Services industry)
October 2006 — Present (4 years )
CEO and editor-in-chief of HedgehogTrader.com. That's where I offer a number of cutting-edge investment advisories profiling elite metal stocks, uranium, oil & gas, alternative energy and microcap stocks on US and Canadian Exchanges.
Virtual Fund Manager
Marketocracy.com
(Privately Held; Financial Services industry)
February 2003 — Present (7 years 8 months)
Manage several virtual investment funds, including my flagship Hedgehog Fund which began with a NAV of 10 and rose to a high of 36 in just two years by focusing on resource stocks.
Investment Writer
Delphi Associates
(Financial Services industry)
August 2005 — January 2008 (2 years 6 months)
Investment writer for one of North America's largest New Age magazines, The Delphi Associates Newsletter. Starting in 2005, wrote about the future (now present) financial crisis and recommended preparing for it with physical gold and silver - as well as a basket of 8 US-listed gold and silver stocks that soared an average of 100% in two years!
Nicholas Winton’s Education
University of Toronto
cTESL , 1997 — 1999
University of Toronto - University College
B.A. , English , 1992 — 1997
- Activities and Societies:
- Writer (University College: Gargoyle), Writer (The Newspaper), Writer (The Independent), VP Classics Students Union
Sunday, September 19, 2010
Buried deep...
On the opening page off the digital edition of CMJ- Well, there's Lamaque! Happy reading (just getting to it myself, but thought I'd pass it on!)
Observations – new diagrams
1) As mentioned before, it had sounded to me like they were working on 2 accesses to the North Wall. Based on previous diagrams, it looked to me like the North Wall mineralization was too far to drift over from the Lamaque Flats. I figured if they were drifting over it would be from the Bedard Dyke area, which appeared to be much closer to the zone. Of course, this was before we found out about the big Bedard Dyke delay.
Well, it looks like they might indeed be establishing 2 accesses to the North Wall and they are actually drifting over from the Lamaque Flats (and not the Bedard Dyke):
``Access ramp from Lamaque Flats currently being driven to North Wall``
``collaring of North Wall portal from pit commenced``
It`s good that they are able to drift over from the Lamaque Flats as that area is far more established, naturally.
2) Infill drilling has been going on for the past month or two which will allow them to identify blocks to be mined. Pg 18 of the presentation: ``mineralization definition drilling commenced``.
3) ``Developed to 2nd level as at September 2010``
4) It looks to me like they have ramped past the top sub-level and the second sub-level. I think that includes most of the mineralization for the upper portion of the dyke. There is a chance that might be good enough ramp down for the first long-hole stope (unless they feel they need to wait for the ramp to be developed further down first in order to avoid over congestion from multiple heavy jobs that requires use of the ramp). If they can now move forward with stope area preparation then they probably now need to do a bunch more work down there, such as the ``undercut``, the ``loading crosscut``, the ``transport drift``, etc. It sounds like they are getting closer to production though. Hopefully the long-hole stoping permit will be arriving soon (the technical sign off was the important hurdle - which we apparently have). Hopefully they will be in a position to launch Bedard Dyke in late October or early November.
5) A vast mid section of the BD still to be explored, as well, the ore body is open to the west and at depth. We shouldn`t forget about a potential high grade shear zone nearby to the north that was historically mined at depth. They will see if it flows up to the BD level of the mine. They will also try to see if some of the north dippers intersect with the flats that go through the BD. North dippers were prominent in this area of the pit in the past.
6) Lamaque Flats Zone: ``Production from and development to 7 stope complexes as at September 2010``
7) Production commencement:
Lamaque Flats - ``Q1 2010``
Bedard Dyke - ``Q4 2010``
North Wall - ``Q1 2011``
Well, it looks like they might indeed be establishing 2 accesses to the North Wall and they are actually drifting over from the Lamaque Flats (and not the Bedard Dyke):
``Access ramp from Lamaque Flats currently being driven to North Wall``
``collaring of North Wall portal from pit commenced``
It`s good that they are able to drift over from the Lamaque Flats as that area is far more established, naturally.
2) Infill drilling has been going on for the past month or two which will allow them to identify blocks to be mined. Pg 18 of the presentation: ``mineralization definition drilling commenced``.
3) ``Developed to 2nd level as at September 2010``
4) It looks to me like they have ramped past the top sub-level and the second sub-level. I think that includes most of the mineralization for the upper portion of the dyke. There is a chance that might be good enough ramp down for the first long-hole stope (unless they feel they need to wait for the ramp to be developed further down first in order to avoid over congestion from multiple heavy jobs that requires use of the ramp). If they can now move forward with stope area preparation then they probably now need to do a bunch more work down there, such as the ``undercut``, the ``loading crosscut``, the ``transport drift``, etc. It sounds like they are getting closer to production though. Hopefully the long-hole stoping permit will be arriving soon (the technical sign off was the important hurdle - which we apparently have). Hopefully they will be in a position to launch Bedard Dyke in late October or early November.
5) A vast mid section of the BD still to be explored, as well, the ore body is open to the west and at depth. We shouldn`t forget about a potential high grade shear zone nearby to the north that was historically mined at depth. They will see if it flows up to the BD level of the mine. They will also try to see if some of the north dippers intersect with the flats that go through the BD. North dippers were prominent in this area of the pit in the past.
6) Lamaque Flats Zone: ``Production from and development to 7 stope complexes as at September 2010``
7) Production commencement:
Lamaque Flats - ``Q1 2010``
Bedard Dyke - ``Q4 2010``
North Wall - ``Q1 2011``
Hedgehog Trader Newsletter - BUY Century Mining
Hedgehog Trader Newsletter HedgehogTrader.com on 09/17 alerted subscribers to BUY Century Mining. In the past the brains behind the Hedgehog Trader Newsletter, Nicholas Winton using proprietary algorithms has enjoyed success in recommending mining stock BUY and SELL points. Unlike a lot of other herd following analysts, Nicholas is not afraid to take a position. So, cutting to the chase this is what he had to say, "With production set to rise rapidly, it is no surprise that our Alpha signals suggest a major rise should ensue over the coming months!"
New Presentation?
If you look online I think peter may have added in some details to the September presentation. If you look at the properties of the PDF file it was last updated on the 17th of September.
Mrstormpay,
Friday, September 17, 2010
Additional PP for $1.2M
BLAINE, WASHINGTON--(Marketwire - Sept. 17, 2010) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Century Mining Corporation ("Century" or "the Company") (TSX VENTURE:CMM) is pleased to announce, due to strong interest in the Company's activities, an additional private placement financing of 3,076,923 units (the "Units") of the Company, at a price of $0.39 per Unit, for gross proceeds of $1,200,000. Each Unit will consist of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable for one common share at $0.60 for 18 months from closing.
The Company will pay a cash finder's fee of 5% of the gross proceeds of the private placement. The completion of the private placement is subject to regulatory approval by the TSX Venture Exchange and completion of documentation. All securities issued under this private placement will be subject to a four-month hold period.
The proceeds from this offering will be used for the continuing commissioning of its Lamaque Gold Mine operation in Val d'Or, Quebec, Canada, and as working capital. Century has been advised that Kirkland Intertrade Corp and Gravity Ltd. have consented to the Offering and will not exercise their pre-emptive rights in respect thereto as provided in the current Shareholders Agreement.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
Keith Hulley, Interim CEO
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Century Mining Corporation ("Century" or "the Company") (TSX VENTURE:CMM) is pleased to announce, due to strong interest in the Company's activities, an additional private placement financing of 3,076,923 units (the "Units") of the Company, at a price of $0.39 per Unit, for gross proceeds of $1,200,000. Each Unit will consist of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable for one common share at $0.60 for 18 months from closing.
The Company will pay a cash finder's fee of 5% of the gross proceeds of the private placement. The completion of the private placement is subject to regulatory approval by the TSX Venture Exchange and completion of documentation. All securities issued under this private placement will be subject to a four-month hold period.
The proceeds from this offering will be used for the continuing commissioning of its Lamaque Gold Mine operation in Val d'Or, Quebec, Canada, and as working capital. Century has been advised that Kirkland Intertrade Corp and Gravity Ltd. have consented to the Offering and will not exercise their pre-emptive rights in respect thereto as provided in the current Shareholders Agreement.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
Keith Hulley, Interim CEO
Some old maps (info for further down the road)
http://www.ccnmatthews.com/docs/cmm0925.pdf
1) Exploration properties immediately outside of the Lamaque Complex
On map 6, you will notice a bunch of gold showings within very close proximity to one another. As I`ve mentioned in the past, based on historical drill results, similar geology to Sigma-Lamaque property and the fact that it flows parallel to the Larder Lake-Cadillac break, I`m of the belief that we have a decent chance of finding a new Lamaque Complex or a mini Lamaque Complex or some strong individual ore bodies at the very least.
2) Colina Dorado (located in northern Peru)
I thought we had completely gotten rid of this property. Apparently, we kept 1,000 hectares (which is still a decent size property position). From the Q2`10 financials (note 5):
``In February 2006, the Company acquired the Colina Dorada properties in Peru which consisted of 7 properties (50 claims) covering an area of 6,600 hectares. These properties are held by a former employee of Century Peru in trust for the benefit of the Company. After a geologic assessment of this property in early 2008 it was determined that the properties had little economic value and the payments to hold most of the land position were not made in 2008. One concession covering 1,000 hectares was retained.``
You will find the location of the Colina Dorado property on map 5. It is located along a prominent gold-copper belt on the Peru side but near the Ecquador border. On the Ecquador side of the belt is Dynasty Metals and Mining - now in production. On the southwestern side of the belt is Tambo Grande - huge ore body, but was never brought into production because it is located under a town and the town refused to move (very different from Osisko`s success in moving the town of Marlartic in Quebec). To the immediate right of our Colina Dorado property is Plexmar`s property, which is speculated to have good potential based on grab samples. I think Plexmar now has a 50/50 joint venture partner. They are working to bring a small processing plant into operation - 100 tpd gold ore and 100 tpd copper sulphides I think. I don`t know if the material to be processed is from small scale miners in the area or their own material or material from their J/V partner.
Perhaps Century kept the 1,000 hectares of Colina Dorada that is closest to Plexmar`s property, just in case Plexmar eventually comes up with a major discovery.
Anyway, it will probably be a while until we do anything with this property (if ever) as I believe it takes a bit of time when applying for exploration permits for any properties located near to the border.
3) 4 of our Alaskan properties (Eagle River, Patton, Peterson and Bessie)
Map 10 - I like the location of these 4 properties. They are located within a 10 mile area along an extremely successful gold belt, with only about 10 miles away from Coeur`s Kensington Mine (northwest on the belt - currently in production), and about 20 miles away from the Treadwell Mine (southeast of the belt - 3.2 ounces of historical gold production, and still mineralized at depth).
As mentioned in a previous post, Kensington has over 1.5 million ounces and is still having significant exploration success. A few of their recent drill holes showed 1 ounce per tonne intersections (just 10 miles away from our properties).
Eagle River produced 22,500 ounces of gold early last century. It contained a 4.5 foot zone assaying 0.59 opt (18.4 g/t) Au on the hanging wall. Of course, without further exploration it is impossible to know if other areas on the property is minerialized like this. Nonetheless, the good location along the belt is a great start. It`s also positive that Kensington is finding similar high grade ore zones that was previously mined on the Eagle River property, right along the same belt as Kensington.
Bassie has 4 old adits and a shaft (of note, adits are above ground entraces to the mineralization, such as through the side of a mountain). It produced 300 ounces in the past, with average grade of .431 ounce per tonne (13.4 g/t). It`s a property with high grade potential that has been under explored.
Patton has 4 small adits. It`s also an under explored property with high grade potential: ``Sampling by United States Geologic Survey returned 2.2 and 1.9 opt Au over 0.7 feet and 0.7 feet respectively``.
Peterson: ``Historical prospecting identified gold mineralization within an arsenic soil anomaly which covers most of the property. Stream sediment sampling returned significant Au values in pan concentrates.``
I like the historical high grade encounters of the properties. I like the location along the belt. I like what Coeur is still finding just 10 miles up the belt. I like that 3.2 million ounces was produced about 20 miles down the belt. I like that these 4 properties are within trucking distance of one another. If we decide to go there one day (much further down the road of course) it will help with the exploration process. If exploration is successful we will be able to treat all 4 properties as one big mining operation.
1) Exploration properties immediately outside of the Lamaque Complex
On map 6, you will notice a bunch of gold showings within very close proximity to one another. As I`ve mentioned in the past, based on historical drill results, similar geology to Sigma-Lamaque property and the fact that it flows parallel to the Larder Lake-Cadillac break, I`m of the belief that we have a decent chance of finding a new Lamaque Complex or a mini Lamaque Complex or some strong individual ore bodies at the very least.
2) Colina Dorado (located in northern Peru)
I thought we had completely gotten rid of this property. Apparently, we kept 1,000 hectares (which is still a decent size property position). From the Q2`10 financials (note 5):
``In February 2006, the Company acquired the Colina Dorada properties in Peru which consisted of 7 properties (50 claims) covering an area of 6,600 hectares. These properties are held by a former employee of Century Peru in trust for the benefit of the Company. After a geologic assessment of this property in early 2008 it was determined that the properties had little economic value and the payments to hold most of the land position were not made in 2008. One concession covering 1,000 hectares was retained.``
You will find the location of the Colina Dorado property on map 5. It is located along a prominent gold-copper belt on the Peru side but near the Ecquador border. On the Ecquador side of the belt is Dynasty Metals and Mining - now in production. On the southwestern side of the belt is Tambo Grande - huge ore body, but was never brought into production because it is located under a town and the town refused to move (very different from Osisko`s success in moving the town of Marlartic in Quebec). To the immediate right of our Colina Dorado property is Plexmar`s property, which is speculated to have good potential based on grab samples. I think Plexmar now has a 50/50 joint venture partner. They are working to bring a small processing plant into operation - 100 tpd gold ore and 100 tpd copper sulphides I think. I don`t know if the material to be processed is from small scale miners in the area or their own material or material from their J/V partner.
Perhaps Century kept the 1,000 hectares of Colina Dorada that is closest to Plexmar`s property, just in case Plexmar eventually comes up with a major discovery.
Anyway, it will probably be a while until we do anything with this property (if ever) as I believe it takes a bit of time when applying for exploration permits for any properties located near to the border.
3) 4 of our Alaskan properties (Eagle River, Patton, Peterson and Bessie)
Map 10 - I like the location of these 4 properties. They are located within a 10 mile area along an extremely successful gold belt, with only about 10 miles away from Coeur`s Kensington Mine (northwest on the belt - currently in production), and about 20 miles away from the Treadwell Mine (southeast of the belt - 3.2 ounces of historical gold production, and still mineralized at depth).
As mentioned in a previous post, Kensington has over 1.5 million ounces and is still having significant exploration success. A few of their recent drill holes showed 1 ounce per tonne intersections (just 10 miles away from our properties).
Eagle River produced 22,500 ounces of gold early last century. It contained a 4.5 foot zone assaying 0.59 opt (18.4 g/t) Au on the hanging wall. Of course, without further exploration it is impossible to know if other areas on the property is minerialized like this. Nonetheless, the good location along the belt is a great start. It`s also positive that Kensington is finding similar high grade ore zones that was previously mined on the Eagle River property, right along the same belt as Kensington.
Bassie has 4 old adits and a shaft (of note, adits are above ground entraces to the mineralization, such as through the side of a mountain). It produced 300 ounces in the past, with average grade of .431 ounce per tonne (13.4 g/t). It`s a property with high grade potential that has been under explored.
Patton has 4 small adits. It`s also an under explored property with high grade potential: ``Sampling by United States Geologic Survey returned 2.2 and 1.9 opt Au over 0.7 feet and 0.7 feet respectively``.
Peterson: ``Historical prospecting identified gold mineralization within an arsenic soil anomaly which covers most of the property. Stream sediment sampling returned significant Au values in pan concentrates.``
I like the historical high grade encounters of the properties. I like the location along the belt. I like what Coeur is still finding just 10 miles up the belt. I like that 3.2 million ounces was produced about 20 miles down the belt. I like that these 4 properties are within trucking distance of one another. If we decide to go there one day (much further down the road of course) it will help with the exploration process. If exploration is successful we will be able to treat all 4 properties as one big mining operation.
Thursday, September 16, 2010
Today's Trading
We got some new blood today with Haywood taking a position and two of the earlier biggest sellers on past down days became buyers today - Anonymous and Jitney. It sure feels like a reversal, but it's only one day.
Technical Events
| Event Date: | Sep 16, 2010 |
| Opportunity Type: | Intermediate-Term Bullish |
| Close Price: | $0.47 |
| Target Price Range: | $0.69 - $0.75 |
A Continuation Wedge (Bullish) consists of two converging trend lines. The trend lines are slanted downward. Unlike the Triangles where the apex is pointed to the right, the apex of this pattern is slanted downwards at an angle. This is because prices edge steadily lower in a converging pattern i.e. there are lower highs and lower lows. A bullish signal occurs when prices break above the upper trend line.
Over the weeks or months that this pattern forms the trend appears downward but the long-term range is still upward.
Volume should diminish as the pattern forms.
1mth | 3mth | 6mth | 1yr | 2yr | 5yr
------------------------------
Price Crosses Moving Average (alerts on 21 day, 50 day, and 200 day)
Indicator
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| 1mth | 3mth | 6mth | 1yr | 2yr | 5yr | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Finally! A good day for us!
Up 15% today. This also confirms the triple bottom and is important from a technical standpoint as we busted through the 20 and 50 day moving averages! I'll try to post a chart later. Great start - we still have miles and miles to run from here! Also, let the conspiracy theories begin about the stock being "held back" for the PP? Sure seems a little fishy.
A happy cheers today,
RE
A happy cheers today,
RE
CMM Closes $5M PP
BLAINE, WASHINGTON--(Marketwire - Sept. 16, 2010) -
"NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES"
Century Mining Corporation ("Century" or "the Company") (TSX VENTURE:CMM) is pleased to announce that it has closed the private placement announced September 15, 2010. The private placement consisted of 12,820,513 units (the "Units") of the Company, at a price of $0.39 per Unit, for gross proceeds of $5,000,000. Each Unit consisted of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable for one common share at $0.60 for 18 months from closing.
The Company has paid a finder's fee of $250,000, representing 5% of the gross proceeds of the private placement. All securities issued under this private placement will be subject to a four-month hold period.
The proceeds from this offering will be used for the continued commissioning of its Lamaque Gold Mine operation in Val d'Or, Quebec, Canada, and as working capital.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
Keith Hulley, Interim CEO
Caution Concerning Forward-Looking Information
"NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES"
Century Mining Corporation ("Century" or "the Company") (TSX VENTURE:CMM) is pleased to announce that it has closed the private placement announced September 15, 2010. The private placement consisted of 12,820,513 units (the "Units") of the Company, at a price of $0.39 per Unit, for gross proceeds of $5,000,000. Each Unit consisted of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable for one common share at $0.60 for 18 months from closing.
The Company has paid a finder's fee of $250,000, representing 5% of the gross proceeds of the private placement. All securities issued under this private placement will be subject to a four-month hold period.
The proceeds from this offering will be used for the continued commissioning of its Lamaque Gold Mine operation in Val d'Or, Quebec, Canada, and as working capital.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
Keith Hulley, Interim CEO
Caution Concerning Forward-Looking Information
Wednesday, September 15, 2010
Single Placee for the Private Placement
Someone other than Finisky has opted to take a $5 million stake in the company as there was only one placee. In one respect that is disappointing because we probably didn't buy any analyst coverage and it's just another snubbing of Canadian brokerages. The analysts that went to the Lamaque Tour were probably hoping to get in on a financing as that is how they operate. They don't recommend companies that didn't do any kind of financing with them.
OTOH, there should be no question about the closing of the PP or clients of a Canadian brokerage that might have gotten a piece of the PP selling their existing shares to raise funds for the PP. Here is the NR annoucing the filing. It is very unusual to get the filing announcement on the same day as the PP announcement.
Century Mining 12,820,513-unit private placement
Century Mining Corp (C:CMM)
Shares Issued 366,963,444
Last Close 9/15/2010 $0.415
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 15, 2010.
Shares:12,820,513
Price:39 cents
Warrants:6,410,257 share purchase warrants to purchase 6,410,257 shares
Exercise price:60 cents for an 18-month period
Hidden placees:one
Finder's fee:$250,000 cash payable to Liton Securities Ltd.Wednesday September 15 2010 - Private Placement
OTOH, there should be no question about the closing of the PP or clients of a Canadian brokerage that might have gotten a piece of the PP selling their existing shares to raise funds for the PP. Here is the NR annoucing the filing. It is very unusual to get the filing announcement on the same day as the PP announcement.
Century Mining 12,820,513-unit private placement
Century Mining Corp (C:CMM)
Shares Issued 366,963,444
Last Close 9/15/2010 $0.415
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Sept. 15, 2010.
Shares:12,820,513
Price:39 cents
Warrants:6,410,257 share purchase warrants to purchase 6,410,257 shares
Exercise price:60 cents for an 18-month period
Hidden placees:one
Finder's fee:$250,000 cash payable to Liton Securities Ltd.Wednesday September 15 2010 - Private Placement
New Frank Holmes Article : 9 Bullish Arguments for Gold
http://www.kitco.com/ind/Holmes/holmes_sep132010.html
It's hard for me to link to an article on Kitco, just because of my intense hatred for their staff writer Jon Nadler. For those few who don't know who i'm talking about, he's been a bear on Gold from 600 to present and floods the market with poorly reasoned garbage. Frank Holmes on the other hand, knows his stuff.
RE
It's hard for me to link to an article on Kitco, just because of my intense hatred for their staff writer Jon Nadler. For those few who don't know who i'm talking about, he's been a bear on Gold from 600 to present and floods the market with poorly reasoned garbage. Frank Holmes on the other hand, knows his stuff.
RE
$5M Private Placement
Century Mining Corporation ("Century" or "the Company") (CMM: TSX-V) is pleased to announce that it intends to complete a private placement financing of 12,820,513 units (the "Units") of the Company, at a price of $0.39 per Unit, for gross proceeds of $5,000,000. Each Unit will consist of one common share and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will be exercisable for one common share at $0.60 for 18 months from closing.
The Company will pay a finder's fee of 5% of the gross proceeds of the private placement. The completion of the private placement is subject to regulatory approval by the TSX Venture Exchange and completion of documentation. All securities issued under this private placement will be subject to a four-month hold period.
The proceeds from this offering will be used for the continuing commissioning of its Lamaque Gold Mine operation in Val d'Or, Québec, Canada, and as working capital. Century has been advised that Kirkland Intertrade Corp and Gravity Ltd. have consented to the Offering and will not exercise their pre-emptive rights in respect thereto as provided in the current Shareholders Agreement.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
"Keith Hulley"
Interim CEO
The Company will pay a finder's fee of 5% of the gross proceeds of the private placement. The completion of the private placement is subject to regulatory approval by the TSX Venture Exchange and completion of documentation. All securities issued under this private placement will be subject to a four-month hold period.
The proceeds from this offering will be used for the continuing commissioning of its Lamaque Gold Mine operation in Val d'Or, Québec, Canada, and as working capital. Century has been advised that Kirkland Intertrade Corp and Gravity Ltd. have consented to the Offering and will not exercise their pre-emptive rights in respect thereto as provided in the current Shareholders Agreement.
About Century Mining Corporation
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
On behalf of Century Mining Corporation,
"Keith Hulley"
Interim CEO
Tuesday, September 14, 2010
Possible Triple Bottom Forming
We have the makings for a triple bottom. A move through .45 over the next few days or weeks would serve as confirmation and would be very bullish.The green line represents if we can bust through .45
For info on the triple bottom formation click here
Monday, September 13, 2010
Yes Anonymous they have recieved sign-off on the geotechnical/ structural stability of the Bedard dyke.
Awaiting final mining permit. Status, any day. More low-profile equipment has arrived in Sudbury and should be @ Lamaque very soon. Can't wait till they start adding those tpd
from BD.
October should be good................I hope
from BD.
October should be good................I hope
One Year Return On Investment (ROI)
Good work Century, one step at a time. We can say it's not enough but it's always easy to make decisions when we are not the ones running the show I guess. The problem with new start-ups is that there are always delays but I think most novice investors understand that concept behind venture capital.....Well, all capital for that matter. Most investors require in the range 0f 8%-10% return per year to be happy. Now let's do the math for Century's ROR.
September 24th 2009 SP----> $0.17
September 13th 2010 SP----> $0.40
End-BGN
------- = Net % Gain or Loss!!
BGN
0.40-0.17 0.23
--------- = ---- = 1.353 OR 135.30% Gain
0.17 0.17
So a 135.30% Return in a period where the TSX returned almost 11%
.....Not 2 shabby Century!!!! Keep up the good work:):)
September 24th 2009 SP----> $0.17
September 13th 2010 SP----> $0.40
End-BGN
------- = Net % Gain or Loss!!
BGN
0.40-0.17 0.23
--------- = ---- = 1.353 OR 135.30% Gain
0.17 0.17
So a 135.30% Return in a period where the TSX returned almost 11%
.....Not 2 shabby Century!!!! Keep up the good work:):)
New GM and Mine Superintendent for Lamaque
BLAINE, WASHINGTON--(Marketwire - Sept. 13, 2010) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) is pleased to announce the appointment of Mr. John McDonald as the General Manager and Mr. Marc Defosses as Mine Superintendent of the Lamaque Gold Mine in Val d'Or, Quebec.
Mr. McDonald brings over 30 years of mine management experience, primarily from the Abitibi Belt in Timmins, Ontario and also extensive mining experience from the Sudbury mining camp in Ontario, where he has held various roles of increasing responsibility with Xstrata/Falconbridge. During his time spent with Xstrata he has held such roles as Mine Superintendent of the Kidd Mine, Engineering Superintendent of the Lockerby Mine, and Mine Manager of the Montcalm Mine. Mr. McDonald is a Professional Engineer and a graduate (B.Sc. with Honours) in Mining Engineering, Queens University, 1979.
Mr. Defosses has extensive mining experience from the Abitibi Belt, and specifically the mining community of Val d'Or, Quebec, where he worked at both the Sigma mine complex and the Kiena mining operation from 1988 to 2001. During the last 10 years, also in Quebec, Mr. Defosses has held other management roles including General Superintendent of Dumas Contracting and Mine Superintendent at Breakwater Resources' Langlois Mine. Mr. Defosses is a long term resident of Val d'Or, and graduated from the Cegep de l'Abitibi-Temiscamingue (Rouyn-Noranda) with a College Degree in Mineral Technology in 1988.
"I am extremely pleased to be able to appoint such experienced mining professionals for our Lamaque operation. Both John and Marc bring the level of experience and local knowledge required for our team to be successful in the continued development and commissioning of the mine," commented Keith Hulley, Century's interim CEO. "These appointments, though a long time coming, are key additions to the team and will assist in building a successful gold mining operation in Val d'Or, Quebec."
Mr. McDonald brings over 30 years of mine management experience, primarily from the Abitibi Belt in Timmins, Ontario and also extensive mining experience from the Sudbury mining camp in Ontario, where he has held various roles of increasing responsibility with Xstrata/Falconbridge. During his time spent with Xstrata he has held such roles as Mine Superintendent of the Kidd Mine, Engineering Superintendent of the Lockerby Mine, and Mine Manager of the Montcalm Mine. Mr. McDonald is a Professional Engineer and a graduate (B.Sc. with Honours) in Mining Engineering, Queens University, 1979.
Mr. Defosses has extensive mining experience from the Abitibi Belt, and specifically the mining community of Val d'Or, Quebec, where he worked at both the Sigma mine complex and the Kiena mining operation from 1988 to 2001. During the last 10 years, also in Quebec, Mr. Defosses has held other management roles including General Superintendent of Dumas Contracting and Mine Superintendent at Breakwater Resources' Langlois Mine. Mr. Defosses is a long term resident of Val d'Or, and graduated from the Cegep de l'Abitibi-Temiscamingue (Rouyn-Noranda) with a College Degree in Mineral Technology in 1988.
"I am extremely pleased to be able to appoint such experienced mining professionals for our Lamaque operation. Both John and Marc bring the level of experience and local knowledge required for our team to be successful in the continued development and commissioning of the mine," commented Keith Hulley, Century's interim CEO. "These appointments, though a long time coming, are key additions to the team and will assist in building a successful gold mining operation in Val d'Or, Quebec."
Saturday, September 11, 2010
Message from Peter Ball
Received this email from Peter Ball. Nice to see things are progressing. I'm happy to see they are still expecting to hit 25-30k at Lamaque in 2010. Even if they come close, I think that will set us up for good numbers in 2011 which will be a critical year.
Cheers,
RE
There is nothing to report that is material at this moment as the company continues with stope development and Bedard development.
LAMAQUE continues to mine in the flats and expect mining in q4 in Bedard and then subsequently in the northwall zone where we expect to finally be able to increase tonnage once these zones are opened which have been delayed by the geotechnical for Bedard, delay in mine equipment delivery.
The mine is playing catchup on all fronts to get ahead in development and thus the delivery of mined tonnage.
The mill is fully upgraded and working wonderful and awaits the mine to open the new mined areas for delivery of tonnes.
The tonnage hovers lower than expected but is expected to take the required jump in q4 and we are still expected to to meet our guidance of 25 to 30k at LAMAQUE in 2010
Day to day right now is immaterial as long as we continue with our mine plan to open the mine the way we have planned.
I see a good q4 as all the above comes together but until then we are behind and tpd etc does not tell the picture as it will mislead readers and not define the true picture over the next few months.
Call me next week and we can chat.
I will be copying this exact email to other folks who email me.
Thanks for your patience.
Peter
LAMAQUE continues to mine in the flats and expect mining in q4 in Bedard and then subsequently in the northwall zone where we expect to finally be able to increase tonnage once these zones are opened which have been delayed by the geotechnical for Bedard, delay in mine equipment delivery.
The mine is playing catchup on all fronts to get ahead in development and thus the delivery of mined tonnage.
The mill is fully upgraded and working wonderful and awaits the mine to open the new mined areas for delivery of tonnes.
The tonnage hovers lower than expected but is expected to take the required jump in q4 and we are still expected to to meet our guidance of 25 to 30k at LAMAQUE in 2010
Day to day right now is immaterial as long as we continue with our mine plan to open the mine the way we have planned.
I see a good q4 as all the above comes together but until then we are behind and tpd etc does not tell the picture as it will mislead readers and not define the true picture over the next few months.
Call me next week and we can chat.
I will be copying this exact email to other folks who email me.
Thanks for your patience.
Peter
Sent from my Verizon Wireless BlackBerry
Finskiy exercised a few more warrants
Filed on SEDI:
1) he exerised 1,000,000 full warrants on Sept 7th (filed Sept 10th) @ $.30 = $300,000
2) This next one is a bit tricky. He showed an exercise of 1,933,333 warrants in his warrants section. He then shows the 1,933,333 common shares in his common shares section, but he shows it as a credit (reduction). He obviously keyed it into SEDI incorrectly. It makes no sense to exercise warrants and then show them as a reduction to the common shares total (I would understand if there were 2 entries to common shares, debit and credit, but there was only one single entry). Finskiy will need to go back in to correct it (once he realizes).
Anyway, exercising the 1,933,333 @ $.30 gives us a further $580,000 (Sept 10th transaction date and Sept 10th filed date also).
The two transactions combined gave us $880,000 new cash.
A good chunk of the previous $6,000,000 in warrants exercise was likely allocated towards Bedard Dyke development and drilling. The new contractor for North Wall development might get some of the leftovers from the $6,000,000, but nevertheless this new $880,000 cash will likely go to North Wall development. I wouldn`t be surprised if the North Wall gets more of Finskiy`s warrant money in the future.
As I mentioned previously, Finskiy will need to exercise all of his warrants before they expired mid 2011. He might as well continue to exercise them now (if he continues to have the cash available).
1) he exerised 1,000,000 full warrants on Sept 7th (filed Sept 10th) @ $.30 = $300,000
2) This next one is a bit tricky. He showed an exercise of 1,933,333 warrants in his warrants section. He then shows the 1,933,333 common shares in his common shares section, but he shows it as a credit (reduction). He obviously keyed it into SEDI incorrectly. It makes no sense to exercise warrants and then show them as a reduction to the common shares total (I would understand if there were 2 entries to common shares, debit and credit, but there was only one single entry). Finskiy will need to go back in to correct it (once he realizes).
Anyway, exercising the 1,933,333 @ $.30 gives us a further $580,000 (Sept 10th transaction date and Sept 10th filed date also).
The two transactions combined gave us $880,000 new cash.
A good chunk of the previous $6,000,000 in warrants exercise was likely allocated towards Bedard Dyke development and drilling. The new contractor for North Wall development might get some of the leftovers from the $6,000,000, but nevertheless this new $880,000 cash will likely go to North Wall development. I wouldn`t be surprised if the North Wall gets more of Finskiy`s warrant money in the future.
As I mentioned previously, Finskiy will need to exercise all of his warrants before they expired mid 2011. He might as well continue to exercise them now (if he continues to have the cash available).
Friday, September 10, 2010
2 key ramp up points - last 3.5 months of 2010
1) Bedard Dyke is targeted to start supplying ore to the mill in early October.
October starts in 21 days. If they are unable to bring the Bedard Dyke online come early October or even mid October then I am hoping they can get it started in November. I would like to see BD onstream early in October (as currently anticipated), naturally, but worst case scenario I would like to see it in production by start of December 2010. The month of December is the month I have been keying on all along. I would like to see the Bedard Dyke feeding at least 200 - 400 tpd to the mill in December.
Hopefully, with us currently working on, these 2 following items signifies that we are not too far away from being in a position to extract ore (either via bulk sampling, which we know for sure we are permitted to do, or full scale long-hole stope mining):
*``ramp being development for ore extraction levels``
*``mineralization definition drilling commenced``
2) It looks like we are still expecting the North Wall Zone to be producing ore by the end of December 2010.
``Tonnage is forecasted to increase in Q4 2010 from the advancement of Lamaque Flats zone, and commencement of mining from Bedard Dyke and North Wall zones``
It would be good if the North Wall could come onstream and provide at least 50 - 200 tpd to the mill in December.
December 2010 tpd potential:
Base case (if Lamaque Flats keeps up current pace, and if both BD and NW come online by December):
1,000 tpd Lamaque + 300 tpd BD + 100 tpd NW = 1,400 tpd December 2010
This would give us a good kick start into 2011.
Stretch target:
1,000 tpd Lamaque + 400 tpd BD + 200 tpd NW = 1,600 tpd December 2010
October starts in 21 days. If they are unable to bring the Bedard Dyke online come early October or even mid October then I am hoping they can get it started in November. I would like to see BD onstream early in October (as currently anticipated), naturally, but worst case scenario I would like to see it in production by start of December 2010. The month of December is the month I have been keying on all along. I would like to see the Bedard Dyke feeding at least 200 - 400 tpd to the mill in December.
Hopefully, with us currently working on, these 2 following items signifies that we are not too far away from being in a position to extract ore (either via bulk sampling, which we know for sure we are permitted to do, or full scale long-hole stope mining):
*``ramp being development for ore extraction levels``
*``mineralization definition drilling commenced``
2) It looks like we are still expecting the North Wall Zone to be producing ore by the end of December 2010.
``Tonnage is forecasted to increase in Q4 2010 from the advancement of Lamaque Flats zone, and commencement of mining from Bedard Dyke and North Wall zones``
It would be good if the North Wall could come onstream and provide at least 50 - 200 tpd to the mill in December.
December 2010 tpd potential:
Base case (if Lamaque Flats keeps up current pace, and if both BD and NW come online by December):
1,000 tpd Lamaque + 300 tpd BD + 100 tpd NW = 1,400 tpd December 2010
This would give us a good kick start into 2011.
Stretch target:
1,000 tpd Lamaque + 400 tpd BD + 200 tpd NW = 1,600 tpd December 2010
Nice resource for calculating Century's Upside
Hey guys,
My first member post. Forgive me if some of this is repetitive and basic, but I think some of the viewers will still benefit.
Not sure if others have already seen this. I know most of you have already seen the comparison study on goldminerpulse that show's Dennis' interpretation of how undervalued we are against peers. (10X cheaper than Agnico Eagle with higher grade)
Most of us also read PO5s recent comparison study list, which was very eye opening as to our potential once we get going and are taken seriously as a emerging mid-tier.
Just wanted to also mention, there is an additional resource I found to calculate metals leverage that is not very well known and quite useful. It is on shareknow.net
The specific link on Century Mining is here
This is a free resource where you can type in any Canadian Miner and it shows all the projects by mine and resources and then automatically calculates the total value of the company based on ounces in the ground.
It then gives each miner a leverage ratio (they call it "RI Quotient") which is net company value vs. current valuation.
To do this, you have to click on the "accept terms and condition" button and then click calculate.
They also attempt to calculate the leverage AFTER operating expenses in their second tab, but I find this to be less accurate due and filled with errors due to incorrect data so I rarely use it.
Century Mining is currently trading at a RIDICULOUS RI Quotient of just under 50. Meaning essentially, we are priced at 1/50th of our proven resources.
This is the highest leverage of almost all producers they track. Many companies with NO PRODUCTION AT ALL have ratios of around 50 or LOWER. Some producers you will find with no production and no near term plans for construction have ratios around ours too!
The only companies I have found that have higher ratios have resources that have political opposition against them so they may never get developed (Like Revett.)
Many of our competitors have RI Quotients between 8-15. (Claude Resources is a 15, Osisko a 5 ) Some even 3-8! (Endeavour Silver is a 3) Feel free to play around and input any name and you'll see what I mean.
Our proven 43-101 compliant gold in the ground is currently worth just under worth 7 billion and this will vastly grow when new Bedard Dyke results get added to our 43-101.
The point is, even though it's frustrating that were going through this production ramp-up, it's important to keep in mind the tremendous inevitable upside from here.
The street has priced us as if the Gold is just in the ground and that's it. This has to change as we ramp up and go through these growing pains.
I believe this can easily be one of the top performing mining equities starting from these levels over the next couple years. While we may be outperformed on a daily and weekly and monthly basis - ultimately, when we deliver, there will be more upside here.
My first member post. Forgive me if some of this is repetitive and basic, but I think some of the viewers will still benefit.
Not sure if others have already seen this. I know most of you have already seen the comparison study on goldminerpulse that show's Dennis' interpretation of how undervalued we are against peers. (10X cheaper than Agnico Eagle with higher grade)
Most of us also read PO5s recent comparison study list, which was very eye opening as to our potential once we get going and are taken seriously as a emerging mid-tier.
Just wanted to also mention, there is an additional resource I found to calculate metals leverage that is not very well known and quite useful. It is on shareknow.net
The specific link on Century Mining is here
This is a free resource where you can type in any Canadian Miner and it shows all the projects by mine and resources and then automatically calculates the total value of the company based on ounces in the ground.
It then gives each miner a leverage ratio (they call it "RI Quotient") which is net company value vs. current valuation.
To do this, you have to click on the "accept terms and condition" button and then click calculate.
They also attempt to calculate the leverage AFTER operating expenses in their second tab, but I find this to be less accurate due and filled with errors due to incorrect data so I rarely use it.
Century Mining is currently trading at a RIDICULOUS RI Quotient of just under 50. Meaning essentially, we are priced at 1/50th of our proven resources.
This is the highest leverage of almost all producers they track. Many companies with NO PRODUCTION AT ALL have ratios of around 50 or LOWER. Some producers you will find with no production and no near term plans for construction have ratios around ours too!
The only companies I have found that have higher ratios have resources that have political opposition against them so they may never get developed (Like Revett.)
Many of our competitors have RI Quotients between 8-15. (Claude Resources is a 15, Osisko a 5 ) Some even 3-8! (Endeavour Silver is a 3) Feel free to play around and input any name and you'll see what I mean.
Our proven 43-101 compliant gold in the ground is currently worth just under worth 7 billion and this will vastly grow when new Bedard Dyke results get added to our 43-101.
The point is, even though it's frustrating that were going through this production ramp-up, it's important to keep in mind the tremendous inevitable upside from here.
The street has priced us as if the Gold is just in the ground and that's it. This has to change as we ramp up and go through these growing pains.
I believe this can easily be one of the top performing mining equities starting from these levels over the next couple years. While we may be outperformed on a daily and weekly and monthly basis - ultimately, when we deliver, there will be more upside here.
Thursday, September 9, 2010
Today's Trading
No surprise who the biggest sellers were again today. Canaccord only made 2 trades. The first for 185,000 shares sold at market and the second for 85,000 shares - again at market. Anonymous had a couple of big blocks - one for 70,000 and one for 47,000.
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