Thursday, January 27, 2011

I smell shark...

Things are just about dead normal. Every year, POG goes fishing - spear-fishing. A plain ole plunge. Its enough to scare the witless from their benches, hence the flurry of selling...paper. The spectators, all rah-rah in December, are now just a typical mob. "The bubble is bursting! The sky is falling! And Canaccord is at it again (true, as usual). My guess, apt to be as wrong as the next guy's, is that we'll see things heat up again in March-April, then subside again May-August, then heat up again through year-end. I used to enjoy watching to see what tall tales the press would invent to explain the seasonal cycle. That was before they became a pack of knee-jerk marionettes. The only coherent message in the press these days is that there isn't any coherence.
What I notice is that, no matter how fast JP and the Boys can drop the price from New York, seemingly every day now, there isn't any supply to take delivery of. Silver is being vacuumed off of internet sales sites at a hefty premium to spot, and the only thing really selling off is paper - ETF's and that lot. CMM's SP performance, relative to others in the industry, has actually been very strong these last three weeks, as have many of the juniors. When the results of backwardation , combined with physical shortages for delivery (some folks seem to think that there isn't any silver left), I imagine we'll see a spike in POG as he comes rushing up for air.
I'd like to think we'll hit commercial production right about that time...
I hope all of you are having a great beginning to the year.

Monday, January 24, 2011

A Few Comments

There hasn't been a whole lot to post about since the new CEO was announced and the otherwise dearth of news that was promised since early December.  Our old nemesis - Canaccord selling - returned on Friday and intensified today.  Coincidentally 4 months earlier on September 21, Century announced the closing of a 3 million shares PP priced at 39 cents and Finder's fees of $15,015 were paid to Canaccord Genuity Corp.  The hold period is 4 months so is it a coincidence that Canaccord began dumping shares on January 21 and the selling increased today as the share price broke below 50 cents?  I think not and hey they still have the warrants.

There was a NR from B2Gold today that caught my attention as BTO is close to being one of our peers.  They announced 2011 guidance of 135,000 oz at a cash cost of $540 to $560 per ounce.  That's not much different than a NR from Century should look like in a year from now. 

Significant differences between CMM and BTO though are the facts that CMM has twice as much gold and BTO operates out of Nicaragua where the country risk is much higher than CMM's jurisdictions.  However BTO has no debt, $70 million in cash and respected management that do what they say they are going to do.

BTO's market cap is $793 million; CMM's is $193 million. 

There is a December 2 post here from Glorieux that quotes Peter Ball as saying there will be news around December 15 that includes a production update and BD drill results.  A later post from Roxy14 quotes Peter as saying the news will be between December 15 and 24.  Now we are hopeful of getting some news in early February. 

Saturday, January 15, 2011

Next Piece of News?

What can we expect in the next few weeks?

In the not too distant future we will have the announcement of cash-flow positive status. We should also expect additional drill results, perhaps a new resource estimate and eventually, the declaration of commercial production.

But what is the next "step" in the shareprice? While some, including myself, have said Century could follow a "hockey stick pattern" of appreciation, I'm increasingly starting to think we're going to see gradual step-up's over the next year. The first piece of evidence was the CEO announcement, and the shareprice jumped from 0.40 to 0.55 before consolidating to our current levels.

Interested in everyones opinion.

Tuesday, January 11, 2011

Wednesday, January 5, 2011

Hey Y'all

Sorry-can't help my Southern-ness this time of year! Must be the black-eyed peas...

I would like to take this opportunity to thank Keith Hulley and the Centurions for starting the new year on such a positive note. My wish is that KH will have a very long and happy vacation, as he richly deserves it. Thank you for being tough-minded, and planning and navigating a successful journey through a tough passage. Your work ensures jobs for a lot of people, monetary enhancement for your shareholders, and most importantly, reinforces the idea that we can manage any difficulty with a good attitude, thoughtful planning, and capable people. I wish you and the CMM team the best of the new year, and thank you for rewarding the faith in this company that so many of us 'retail' customers keep. For what its worth, a BIG welcome to Mr. Major.

Beyond that, we ought to be mindful of the still-current dearth of supply of yellow metal. I'd like to see commercial production before April, and I'd like to see some precious white metal show up in our explorations.

Happy New Year to all you fellow-sufferers!

Nice day today!

Not much to say but congrats! This is just the very beginning. We have the winning numbers on our tickets folks. We have all along.


Tuesday, January 4, 2011


BLAINE, WASHINGTON--(Marketwire - Jan. 4, 2011) - Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) is pleased to announce the appointment of Mr. Daniel Major, B. Eng. (Honors) as the Company's new President, Chief Executive Officer and Director, with his appointment effective January 3, 2011.

"We are extremely fortunate to have a person of Daniel's calibre and experience to lead Century at this stage of its development. His broad and diversified experience will benefit the Company's current and future development of its extensive gold resources," said Keith Hulley, interim CEO of Century Mining.

Mr. Major brings close to 25 years of extensive international mining experience, including mine development planning, project development, operations management, commercial negotiations, project and debt financing, and mergers and acquisitions.

Mr. Major's recent roles included COO of Ecometals Limited, overcoming political and legal issues in South America to advance the company's exploration and development projects. Prior to that Mr. Major was at Basic Element, a large and diversified Moscow-based conglomerate that he joined in 2003. He was CEO of the resource division, specifically responsible for development of the mining and other assets in Russia. The division had an annual revenue turnover in excess of a half a billion dollars, and was a producer of approximately 8% of global ferro molybdenum. This division had over 17,000 employees, and under his tenure the mines achieved two million manhours without a lost time accident.

Earlier in Mr. Major's career, he spent time as an investment banker and senior mining analyst at financial institutions that included JP Morgan and HSBC, where he was part of the No. 1 ranked Global Mining Team. He holds a B.Eng. (Honors) from Camborne School of Mines in Cornwall, England.

Concurrently with Mr. Major's appointment, Mr. Keith Hulley will step down from the position of Interim CEO and also leave the Board of Century Mining to enjoy his retirement.

"I would like to thank Keith for his hard work and dedication during this transition period since August 2010. Keith's dedication to the Company to ensure progress continues at the Lamaque and San Juan gold mine operations has been invaluable and at 71 years of age and over 45 years in the mining field, we wish him a well deserved retirement," commented Ricardo Campoy, Lead Director of Century.

Mr. Daniel Major, Century's new President and CEO, has been granted 3,000,000 stock options for a period of five years at the closing price as at January 4, 2011. The Company has also granted stock options to Officers, employees and consultants to purchase up to 995,000 shares (445,000 shares at a price of $0.44 per share and 550,000 shares at a price of $0.43 per share) for a period of five years, which includes 225,000 options priced at $0.43 per share to Officers.

About Century Mining Corporation

Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, the 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,

Ricardo Campoy, Lead Director