Comment

It is a frustrating thing to watch our s/p dither while so many miners are shooting up. Every day, I question why I keep holding CMM stock. (I do this with all my investments.) Part of why I keep my shares is that my investment window is 2-5 years. If you want to really grow a mining portfolio, you can't do it day-trading. The 3-month plan won't work. You are going to miss the pulse, when it comes, if you aren't on the table. Developing a profitable mine takes time, money and bloody hard work. Even if management is right all the time-which they never are (being human)- things crop up that slow things down. Our equipment is late. Anybody care to guess what the backlog is at Sandvik? Or any other mining equipment-maker right now?
There are so many mines in development right now that it blows the mind. Companies are out there digging it up at less than 1g/ton ore. Or planning to. And they are all buying and ordering mining equipment. I am glad the explorers get a bit of holiday here, with gold so high, but when gold corrects 5 years out or so, all those guys with less than .25oz/ton in the ground are going to go bust, shut down and pull out the mothballs and pumps. By that time, Century will be in full swing or bought out. The thing that makes this company attractive is the gold in the ground, the ore concentration, and the fact that they are in "...stable, mining-friendly jurisdictions..." as they are so fond of saying. I like this company because even if gold goes back to 800.00/oz, they will still turn a profit. I like this company because, even if I hold for the next 16 years, I know they have a good pipeline of properties. I know that because P05 does his homework, and isn't afraid to suggest scenarios. I know it because every time I call Peter, I get straight answers. I know it because I do a daily routine of due diligence.
Worried about debt? I'd like for CMM to be debt free, but they wouldn't trade at this level if they were. There is ALWAYS a good reason that the market holds a s/p down. But here's the nut-why I don't sell my core here: in manufacturing, the only mutable cost is labor. That includes management. We have issues as a company. All of them are well-known. And every person in Blaine, San Juan and Val D'Or that I can get a sense of is doing their damnedest to get this company up and running.
I reside in P05's camp strongly because I firmly believe that we small fish ought to be heard. Okay - we own less than 50%, maybe, but what happens to any public company if the public doesn't like them? 100% institutional ownership doesn't exist (okay-we'd like 20%, I get it!).
The money on this company is going to come next year. And every year after that, it is going to grow. I put all the information about our BOD out here because I believe that we have some excellent people who know mining on our board. Like any other small company, we have some debt financing to deal with. On top of that, we have to show: timely quarterlies, improving mine profiles, get a good CEO, etc.Just remember the basics - we have a lot of high-grade ore, and a team building that will PROBABLY get it out of the ground at a great profit. If you aren't comfortable with trusting your instinct, go buy the majors. Your investment won't grow much, but it will be stable. And after 16 years, you will likely have made less money than if you had bought a troubled company that was improving its profile.

For the record, Mr.Stormpay, please don't ever hesitate to publish your thoughts. I also am in your camp (for what its worth), because we ought to all be skeptics. If the hard questions aren't asked and discussed, then what the devil is the use of a blog anyway? Just let's all stay on topic, and avoid personal attacks - they disqualify an argument. We MUST be better than our politicians!