Thursday, September 2, 2010

Standard SEC (US) insider filing by Finskiy today (likely due to the recent warrant conversions)

Finskiy filed the SEC 13D form, for insider share purchases. I only took a quick glance at the document. It has similar info to the original acquisition document filed SEDAR (Canada) on Jan. 14`10, with the exception of inclusion of the recent warrant conversion shares.

http://www.streetinsider.com/SEC+Filings/Form++SC+13D+++++CENTURY+MINING+CORP++++++++++++++++++++Filed+by%3A+Finskiy+Maxim+Valerievich/5943822.html

Of note, on May 28, 2007, Century stated that they submitted form 40-F to the SEC to register shares in the US. It`s not clear if this is the reason Finskiy has to file an insider report with the SEC (even though Century doesn`t trade on a primary US Exchange - I believe Century trades in the US on only the OTC platform, if I understand correctly), but that would be my first guess. Again, I don`t have a lot of knowledge about Century`s US exposure or requirements.

At one time Century stated that they hoped to eventually explore the possibilities of also trading on a primary US exchange or a London exchange or the Lima exchange or a combination. Once Century ramps up Lamaque, it will be interesting to see if they choose to continue exploring those avenues. I don`t think there are a lot of benefits to list elsewhere prior to fixing the market cap issues in Toronto (plus, some of those exchanges have a minimum share price requirement - $.42 just doesn`t cut it). Once the market cap issues are fixed on the Venture exchange, the next exchange priority is to seek out a TSX main board listing. A TSX listing should provide more visibility and perhaps attract some of the institutions that are not allowed to invest in Venture companies. We will know we have arrived if we one day get included in a TSX Index.

Here is Century`s NR from May 28, 2007:

BLAINE, WA: Century Mining Corporation (CMM: TSX-V) announced today that, by filing Form 40-F, it has completed the registration of its common shares with the United States Securities and Exchange Commission (SEC), pursuant to Section 12(b) of the Securities and Exchange Act of 1934. The registration is available for viewing on the SEC’s EDGAR Database at http://www.sec.gov.

As a foreign private issuer, Century has access to U.S. equity markets under the Multi-jurisdictional Disclosure System (MJDS), which allows Canadian issuers to meet U.S. filing requirements by using Canadian disclosure documents.

Since its introduction in 1991, MJDS has played a key role in allowing Canadian companies conducting public offerings in Canada to extend those offerings to the U.S. public. Canadian issuers use MJDS forms to offer securities publicly in the U.S. based on a Canadian prospectus that is only subject to review by Canadian securities regulators. In addition, MJDS allows eligible Canadian companies to meet their ongoing U.S. public annual reporting requirements by wrapping a Form 40-F around their Annual Information Form filed with the Canadian securities regulators and filing that Form 40-F with the SEC.

Margaret Kent, President and CEO commented, “This is yet another step for Century in our strategy to expand global operations and maintain growth. This filing is part of the company’s strategy to list its shares in the United States, and is a result of our firm belief that there is significant potential in U.S., European and other world equity markets for companies like Century Mining with excellent growth prospects. We will continue to implement policies that enhance shareholder value by increasing Century’s exposure to global capital markets.”

2 comments:

blevit said...

I noticed that Finskiy bought shares at 0.30 in July and Aug of 2010.
I know that he bought millions & millions worth of stock.
But why did i pay 0.49 around the same time.
I'm not complaining just wondering
Cheers

Wingfong said...

blevit
Finskiy exercised his warrants at $0.30 per share briefly meaning the co sell him the large quantity of shares at $0.30 being part of the investment deal he has with the co. For U, me and other retail investors, we buy from the market at prevailing prices such as your 0.49. By the way, I got some at price higher than what U paid for.
Cheers