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.
8 comments:
Hi BullionBull,
"Next Piece of News"?
Good question. We should expect that the new CEO will be/is "his own man" (i.e. indicate that he reprents ALL shareholders). Plus,announcements for a seasoned Canadian Chairman of the BOD; move head-office to Canada; change name of company to have "GOLD" in the name; news about accelerated exploration program in Peru. Just a few ideas.
BB,
From a technical standpoint I think a continued consolidation between current levels and .56 is likely and actually healthy coming from .40 until we burst through either on news or just momentum.
I think the next step above this would be a consolidating tightly around the .60 mark and once that is broken for a couple days in a row there is virtually no resistance until the .75-.88 zone.
Of the various events coming, I personally feel the announcement of achieving commercial production and a new 43-101 will be the most significantly correlated to large price movements and trends.
I'm not sure if announcing cash-flow positive status would be a separate earlier PR, but agree that would be a useful and positive step as well.
In either case, the one thing that seems certain is that IMO we have indeed turned the corner and this will be a fruitful year.
RE
The next piece of news has to be confirmation of meeting lowered 2010 guidance and affirming or providing guidance for 2011.
It really is unacceptable for IR to continually promise an update and not provide it. Let's hope that the new CEO brings a culture change to the company and that he addresses shareholders soon.
After talking with Peter he is still pushing for that report by end of month.
If you guys want to look at a comparable, look at AVR, Avion Ressources. They were at 45 cents and when they got to commercial production, that is when their share price moved. When they had their first big month of production last August, that is when the market took notice and a the re assessing of the price per share really started.
Now, hopefully, our December number for ounces produced were decent and we can just increase that number every month for the next 6 months.
The $4M financing details from late last year finally came through on the TSX Venture Daily Bulletin Report today.
I am unable to post the details due a technical problems I am currently experiencing. Most of it is essentially the same as what we already know.
The new info is regards to Insider/Progroup subscription. Greg McKenzie subscribed to 400K CMM shares and Tim Burgess subscribed to 195K CMM shares. I believe both of these gentlement are with Haywood. I think the first one might be VP, Portfolio Management.
Here is the news release for the PP filing:
Century Mining 10,324,600-unit private placement
Century Mining Corp (C:CMM)
Shares Issued 407,463,445
Last Close 1/21/2011 $0.50
Friday January 21 2011 - Private Placement
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Nov. 12, 2010, and Dec. 23, 2010.
Shares:10,324,600
Price:39 cents
Warrants:5,162,300 share purchase warrants to purchase 5,162,300 shares
Exercise price:60 cents for an 18-month period
Hidden placees:19
Pro groups:Greg McKenzie 400,000; Tim Burgess 195,000
Finders' fees:$118,423.19 cash and 315,084 options payable to Haywood Securities Inc.; $118,432.20 cash and 291,285 options payable to Byron Capital Markets; $24,864.22 cash and 64,730 options payable to Union Securities Ltd.; the options are exercisable at 39 cents per unit and units are under the same terms as those to be issued pursuant to the private placement
Thanks Carib.
Just so you know, this blog is posting perfectly. The technical problem is entirely on my side. It simply has to do with a damaged part that controls internet speed and data flow, external to my pc. The part will be replaced tomorrow.
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