Now your rebuttals lol
Wednesday, September 1, 2010
Easy now people!!!
Alright people, it's good to brain storm a little but making crazy assumptions about the stock and making all of these ideas public simple holds the share price down in the long run. Sure it is good to share ideas but this site get's a lot of hits and investors (retail) are taking this information way to seriously. At the end of the day 95% of the stuff that is said here is here is here say. If we keep raising the bar for century to umbers that are virtually impossible to acquire we raise investor expectations. When I talk to some of the smaller investors that own century the read this blog a lot. Not to sound like a preacher but it would be nice to keep things in perspective and not get a head of our selves. We are a junior producer and the smallest of expectations will either hurt us or make us in a bad way. I am not preaching at anyone person by any means but just letting people know what raising the bar too high can do. Like it or not this is the way the cards have been falling....People read raise their expectations and then when things are not met by people raising the bar we get hurt in the end when the true numbers were fairly close to reality.
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21 comments:
Now what I do when I would like to know something is either talk to friends in the industry that have experience or that know some details on what is going on or simply call Peter Ball.....He's an easy going guy and will answer all the questions he is able to the best of his knowledge.(from past experience) Fact us people like us know very little and trades should not be based on what a bunch of loonies(including myself) are posting in a blog. If you have questions do not hesitate to call these guys, it's what they are paid to do right?
I agree with you Mrstormpay, this blog does raise the bar for CMM. But I wonder how much long term effect it has on share price.
In my opinion, CMM is trading at a huge discount because we do not have much institutional buyers.
Everyone is watching how CMM will perform. No one is willing to trust them yet because of past, management, etc. Let's see if they can meet the 30k oz promised by end of December.
I'm sure institutions will start backing us once we show good production numbers.
I'm a super long on CMM. I'm willing to wait 2 years to achieve my targets because I know the Gold is there. I'm just watching how they are progressing, if they are improving (which they have been) I stay along, but if they screw up to a point where they cannot recover, then I'll walk away.
I agree 100% keith, great post.
I know it's only Sept.1st, but when can we expect to see the August production numbers?
Sorry for the last post. Spelling was atrocious, so we will try again.
Christopher,,, Peter Ball said that he will be posting the monthly update (SEPT presentation) on the website the week of Sept 6th. GL.
Thanks! Much appreciated. Hopefully we'll be on track.
FYI - regarding an earlier discussion. I asked Peter and he estimated Public Float to be in the 80-110 mil range.
Cheers!
RE
I completely disagree.
I am posting a quick message now, but I just haven`t decided how hard hitting I want my response to be, before posting a full response.
The bottom line is: I refuse to let Century become another Northern Stat Mining. I refuse to let my investment in Century become ZERO. I refuse to let Century shareholders lose all of their investment, if I can expose the situation before it happens. I will always set high standards for management. I will always refuse to accept sub-standard performance for the company and its management. I will always discuss potential opportunities and missed opportunities existing at Val d`Or and San Juan and other places.
I will always state that ``Century needs to get its crap together`` when I feel it is under performing or not fully transparent. As I stated was the case.
I will always push management.
I will always state when Century needs cash and will run out (when such a situation occurs), as I did earlier in the year when the company was publicly stating that they are cashed up. I stated that they needed to go into the Finskiy warrants because it was clear that they couldn`t achieve results to access the escrow funds. As we know, Finskiy ended up pumping $6 million into the company due to the under performance.
I will always that the the delay in equipment deliver and other delays is far more impacting to the business that the 3 weeks the company was claiming. Which turned out to be true.
I will always state when Century`s production forecast is not achievable, especially when they publicly haven`t adjusted it to reflect start up issues. Based on my analysis posted on the blog, I showed clearly why it wasn`t achievable. Century ended up reducing their Lamaque forecast from 40,000 ounces to 25,000 - 30,000 ounces, but long after the fact.
I will always refuse to accept the current Century share price as reasonable. In my view, it is clearly an under performance. I refuse to stop showing comparative stats on the blog, with regards to the severity of under performance relative to peer companies.
To be honest, it`s a flipping joke. Century was trading at $.42 six years ago. The gold price was US$415 back then. The gold price is US$1,250 now. The company has never looked better operationally. Don`t give me this crap that the company doesn`t need to set higher standards.
If you think a few small time retail investors babbling on a small time blog is the reason for Century`s pathetic share price performance then, sir, I have news for you: You are completely not understanding the lack of performance by this company. They have not convinced the large investors to invest in the company as yet.
I find your ``Easy now people!!`` message to be offensive for someone who hardly posts on the blog. I would respect those words from Carib, Wingfong, Chillby, Bigjohn, Rock3030, Rhump and others (frequent or long time posters), but I do not respect them from you.
I will continue to expose Century Mining when they are under performing. I REFUSE TO ACCEPT MY INVESTMENT AND THE INVESTMENTS OF OTHER CENTURY MINING SHAREHOLDERS to be washed away like the investors of Northern Star Mining (and other companies), if I have anything to do with it. If NSM shareholders had a blog like this then maybe they could have sounded the alarm bells long before it was too late.
I will also continue to identify opportunities, even if it embarrasses management for not having their crap together to be able to compete for those opportunities.
It is my dollar invested. I WILL CONTINUE TO DEMAND HIGH PERFORMANCE. I WILL CONTINUE TO POINT OUT ISSUES. THERE IS NO ROOM FOR FAILURE. THESE ARE MY DOLLARS, PERIOD!
Production05
STANDING OVATION!
Well said.
I see, well that's all dandy p5 but your actually hurting the share price a lot of the time. You mean well, we know this but in the end we have a lot of viewers on this site and it does have an impact. When we only have half the puzzle pieces it get hard to complete the puzzle. Yes, they are your dollars but in the end your dollars will not be the deciding factor on whether we hit 2 bucks or not. Tell management what you want but in the end insiders control more than 50% of the vote so our shares are worth very little in this case. I am sure that you have been in-touche with management on many occasions but in the end Peter is just there to tell you info that is already public. He can help clarify statements but he can;t go into too much detail. With that being said I think your heart is in the good place and you sure put a lot of time into the site. All I said was people should keep thing semi realistic in here. Many people agree....from the street that is.
I also agree with a lot of what you said but some is a little too far fetched for me. Sure, state what you must but remember the balances you see are always a few months behind. Whether they need cash or not why make huge fuss over it? In the end it does not help the slightest bit. It actually hurts us more. Management knows these things before we do. As part of the public float we are just tagging along. Cash is the least of my worries. We have an almost unlimited supply of it at this point.(for what we are doing that is)
I agree with you "production05"
I am a very small fish ,who was told by a so called freind,to sell everything and invest in CMM.
Now that I've seen my saving's lose 25%,I want to know why?
Now that you inform us that CMM was at 0.42 in 2004 with gold at $415.I'm really depressed.
If I'm going to lose all my money ,I swear to you ,I'M going out with a fight
blevit, I hear you, I have many shares myself and buy more weekly but over speculating makes things worst. With under 150mil of the public float our thoughts mean very little. It's sad but it's true. If they want to do something or not do something that is up to them. One of the major factors is people such as broker 099 Jitney playing games with the market. When century had little bid they sold to push down and they still have millions on hand. They simply day trade the hell out of it and it is completely legal. I have faith in the comapny and the russian for that matter. Why pump millions into a company to see it fail. We have the money and the resources so sit tight and enjy the ride. I am happy that we are this low and if we stay here for another 3 months I will still be happy. As some of my securities mature I will keep on buying. Look long term and not short term. Unless your a trader then the fundamentals really don't matter....focus on the technical's then.
Thx Mrstormpay
I feel a little releived
Mrstormpay, I really don’t understand what your issue is with production05’s posts? What “crazy assumptions” are talking about and how is this hurting the share price? How is raising expectations and raising the bar linked to the current share price? I could understand that concern if Century were in an inflated unsustainable price bubble, but this stock is so grossly undervalued, it’s not funny. What is the stockigloo effect you talked about on Stockhouse?
Blevit, no disrespect intended, but I believe you are typical of many of Century’s retail investors. You’re not certain why you bought the stock and don’t have enough comfort in the true value of the stock that you begin to question why you are here when the short term price doesn’t meet expectations. Many retail investors base their investment decisions on what they read on stock forums and buy the momentum plays. They buy after a quick run-up and become fearful when the price reverses course. Bashers play on that fear until the retailers sell out at a loss. One negative post is more effective than 10 positive posts. You couldn’t find a single negative post on CMM on Stockhouse before its run to 87 cents, but when it peaked and started dropping, the vultures moved in. Stay the course and even add to your holdings, and in a year from now, you’ll thank your friend for getting you into this stock. There is absolutely no chance that you’ll lose all of your money. A fully operational 3,000 tpd mill and 6 million ounces of gold in the ground with the potential to add millions more is worth a lot more than our current market cap.
Our biggest short term problem is the complete lack of institutional investors. No one other than Finskiy owns more than 5% of the stock. Considering Century’s history of over-promising and under-delivering, and its history of shunning Canadian brokerage houses when raising capital, the lack of institutional ownership is understandable. Failing to file the year-end financials on time which resulted in a CTO and revising the 2010 production forecast downwards was more of the same inept management we’ve had the past several years. However what is most important is operational progress and the company is on track to meet its 2011 production forecasts. It only needs to average 1,600 tpd next year and in a few short months we are already up to 1,000 tpd. I wouldn’t be too surprised if we get close to 1,600 tpd by the end of this year which will assure that the 2011 forecasts will be met or exceeded. At the current gold price, we’ll be generating serious cash flow at that time and the institutions will take notice.
Well,I'm no small time fish,I might actually be the biggest one, and I read this board every day. I totally accept use not reporting every month of grade as the fluctuations in grade are to broad and the quarterly #s will be more stable, where not going anywhere till the new boss is public ( option reasons)just don't sell us to soon, Da Goon
Trying to interpert your name here,is I believe it is pronounced Mrs. tormp-ay.Dudette ,you need to chill,you actually believe that P05 is ruining CMM. If you are a true investor,i want you to daydream back to last december,Christmas eve,not that long ago in the spectrum of things.That was the begining,let me remind you,9 months ago.I don't believe P05 could bring the company's SP down buy giving us his personal view and excitement,knowledge of CMM.Lets just hire a new CEO, let production start to roll,and then patience will be noted.
I think it's laughable to suggest that speculating on this board is hurting the share price. When in fact, we all know that management has hurt the share price for years. Even now, some see the company as rutterless if only temporarily (but glad that PK is gone). I speak for many I'm sure when I say that I appreciate P5's posts. Dave
Carib
You are right that I am a novice when it comes to investing.
I"m sure most of you have substantialy more invested than me,but when you guys start doubting yourselves,us little minnows are bewildered,because we don't know any better,
Anyway I feel much better today,from all the positive response.
Cheers
Dear Ms T
I find your input fresh but really do not agree. We have had bigger problems here at CMM than prod5 shifting share price down single handed.
Please put in the work and time as well and you may then have more credibility for large opinions opinions.
Ron
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