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.
3 comments:
Latest word from Ball is the first week of February. It is out of his hands hes just the messenger. Apparently the report will be filled with lots of key details that will be beneficial to stake holders.
I look forward to seeing how things are progressing at the mine.
Cheers
Stormy
Too bad it'll come out in a falling POG setting. Typical
It looks like today Canaccord has switched to selling their shares "Anonymously" as they have often done in the past whenever a light has been shone on their selling. 285k of the 388k shares sold today have been from "Anonymous". None from Canaccord.
At least it is costing less money to buy them out at 45 cents than at higher prices.
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