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Nice, indeed; R_E!!! Does anyone have any ideas/indications where the buying is coming from? Are there any large block of shares changing hands (might be a sign of institutional buying)? I venture to predict that we'll reach $1.00 by April fools' day (for a variety of good reasons)! GLTA--BJ
Hey BigJohn I saw a few cross trades today with 033=Cannacord. One was for 400K, the other 100K...not sure if this helps, but it was nice seeing the amounts removed from the sell side.
Cannacord has been buying/cross trading in the last few sessions, who's apparently pushing this up. nevertheless, we'll see continuous climbs in the next while, TA wise.
Last year, we consolidated around .60 for a little while and then blasted off to the .80s in a matter of days. Therefore, there is very little resistance between the low .60s and our 2 yr high.
Also, the last time this happened it was mostly due to the hype of the countdown to start of production.
This time around, the actual production is increasing week by week, month to month as we speak and the revaluation will be happening in front of our eyes.
With most of the initial start-up risk off the table, we can now move up in a sustainable fashion and continue to form solid bases at higher levels.
RE I had anticipated sp will touch $0.60 soon judging from the price action/volume transacted in the past 10 days or so, never know it happens today. Agree when $0.60 was last crossed, situations were entirely different from what they are today. SP is currently moving up for a whole lot of very different cum positive reasons indeed. Believe the 2-yr high of $0.87 will be taken out soon, perhaps in days as you had said. Cheers!
I like the first impression of the new CEO. He comes across as an upfront and a no nonsense guy. I like that he is increasing the pressure on the operations to step up. I would like to see him increase the pressure to other areas of the company also, including IR/Marketing, Finance/Accounting, exploration, etc.
Talk is cheap. There has been plenty of talk with this company, both with past management and recent management.
Unfortunately, the company`s track record has always been 100% and 0% walk, in my view.
I would like to see the new CEO completely change the culture of this company.
It is my belief that Century has the properties to perform well in this gold price environment. IMO, it is all about the abilities and decision making of the people.
I hope the CEO continues with the impressive first impression.
A couple of specific comments about items in the conference calls:
1) He mentioned 70% for comm. prod. That would be odd. It is usually 60% for 90 days. If it`s 70% then I don`t see comm. prod. in April, unless they are able to use a 60 days period instead. Using 60 days would be odd for this operation. Even McWatters had to use 90 days for the open pit on this property.
The demoninator is usually based on steady state production of current mine plan or capacity of mine.
Our steady state is currently planned for 2000 tpd.
June is more reasonable at 70%. April may be possible at 60%.
2) The mine plan was based on 4.7 g/t. As such, the $450 - 550 cash cost per oz LOM target range was based on the 4.7 g/t. If they cannot get the grade beyond 3.75 g/t then basic logic to suggest that the cash cost per oz will be higher.
They might be able to offset some of the grade shortfall by getting greater economies of scale (if they can go well over the 2000 tpd and if the low-profile equipment turn out to be more cost effective than what was built into the original cost make up. They could also bridge some of the grade gap by running a tighter cost containment operation.
The bottom line is that such a large gap in grade relative to plan should have a material impact on cash cost per oz, unless the company achieves mitigation successes such as the ones I mentioned.
We just had our lunar new year celebration and we are keeping well. Tks. Also glad to read your disertation n comments again. Note your several cautous points. Yes, it is also my belief that CMM has the properties to do well in this gold price environment. In fact i have not forgotten the many unexplored land parcels in San Juan particularly Erika, Lamaque, NWT n those in the States + the possibility of a near tern 10million reserve n resources potential. Being already involved in the operating commettee last year n being a mining engineer by training, DM gives me the impression he is in total understanding and control of all mining matters in the co. His corp and banking worlds' experiences besides other exposures should give him the steel to exert command on the troop and will the direction of the co. I expect the culture of CMM will not be the same under his watch. Cheers!
Hi Production05. Nice to have you back. (Frankly, you became a sort of "Trademark" of this blog). Yes, we certainly hope that Mr Major will chnage the image and culture of this company. I think, so far, that the market is saying that the positive change is under way. It's obvious that some insttitutional investors are taking notice. I will endevour to inform him (through Peter Ball) that CMM has a loyal following on this Blog, and that he should visit us sometimes.
10 comments:
Nice, indeed; R_E!!!
Does anyone have any ideas/indications where the buying is coming from? Are there any large block of shares changing hands (might be a sign of institutional buying)? I venture to predict that we'll reach $1.00 by April fools' day (for a variety of good reasons)! GLTA--BJ
Hey BigJohn
I saw a few cross trades today with 033=Cannacord. One was for 400K, the other 100K...not sure if this helps, but it was nice seeing the amounts removed from the sell side.
and at 3:30 Cannacord cleared .60 with a 400k trade.
Cannacord has been buying/cross trading in the last few sessions, who's apparently pushing this up. nevertheless, we'll see continuous climbs in the next while, TA wise.
Cheers!
Last year, we consolidated around .60 for a little while and then blasted off to the .80s in a matter of days. Therefore, there is very little resistance between the low .60s and our 2 yr high.
Also, the last time this happened it was mostly due to the hype of the countdown to start of production.
This time around, the actual production is increasing week by week, month to month as we speak and the revaluation will be happening in front of our eyes.
With most of the initial start-up risk off the table, we can now move up in a sustainable fashion and continue to form solid bases at higher levels.
Cheers,
RE
RE
I had anticipated sp will touch $0.60 soon judging from the price action/volume transacted in the past 10 days or so, never know it happens today. Agree when $0.60 was last crossed, situations were entirely different from what they are today. SP is currently moving up for a whole lot of very different cum positive reasons indeed. Believe the 2-yr high of $0.87 will be taken out soon, perhaps in days as you had said. Cheers!
Hi BigJohn and Wingfong,
I hope you guys are keeping well.
I like the first impression of the new CEO. He comes across as an upfront and a no nonsense guy. I like that he is increasing the pressure on the operations to step up. I would like to see him increase the pressure to other areas of the company also, including IR/Marketing, Finance/Accounting, exploration, etc.
Talk is cheap. There has been plenty of talk with this company, both with past management and recent management.
Unfortunately, the company`s track record has always been 100% and 0% walk, in my view.
I would like to see the new CEO completely change the culture of this company.
It is my belief that Century has the properties to perform well in this gold price environment. IMO, it is all about the abilities and decision making of the people.
I hope the CEO continues with the impressive first impression.
A couple of specific comments about items in the conference calls:
1) He mentioned 70% for comm. prod. That would be odd. It is usually 60% for 90 days. If it`s 70% then I don`t see comm. prod. in April, unless they are able to use a 60 days period instead. Using 60 days would be odd for this operation. Even McWatters had to use 90 days for the open pit on this property.
The demoninator is usually based on steady state production of current mine plan or capacity of mine.
Our steady state is currently planned for 2000 tpd.
70% * 2000 tpd = 1400 tpd
60% * 2000 tpd = 1200 tpd
They are expecting to do 1200 tpd in jan and feb.
June is more reasonable at 70%.
April may be possible at 60%.
2) The mine plan was based on 4.7 g/t. As such, the $450 - 550 cash cost per oz LOM target range was based on the 4.7 g/t. If they cannot get the grade beyond 3.75 g/t then basic logic to suggest that the cash cost per oz will be higher.
They might be able to offset some of the grade shortfall by getting greater economies of scale (if they can go well over the 2000 tpd and if the low-profile equipment turn out to be more cost effective than what was built into the original cost make up. They could also bridge some of the grade gap by running a tighter cost containment operation.
The bottom line is that such a large gap in grade relative to plan should have a material impact on cash cost per oz, unless the company achieves mitigation successes such as the ones I mentioned.
Hi Prod05
We just had our lunar new year celebration and we are keeping well. Tks. Also glad to read your disertation n comments again.
Note your several cautous points. Yes, it is also my belief that CMM has the properties to do well in this gold price environment. In fact i have not forgotten the many unexplored land parcels in San Juan particularly Erika, Lamaque, NWT n those in the States + the possibility of a near tern 10million reserve n resources potential.
Being already involved in the operating commettee last year n being a mining engineer by training, DM gives me the impression he is in total understanding and control of all mining matters in the co. His corp and banking worlds' experiences besides other exposures should give him the steel to exert command on the troop and will the direction of the co. I expect the culture of CMM will not be the same under his watch. Cheers!
Hi Production05. Nice to have you back. (Frankly, you became a sort of "Trademark" of this blog).
Yes, we certainly hope that Mr Major will chnage the image and culture of this company. I think, so far, that the market is saying that the positive change is under way. It's obvious that some insttitutional investors are taking notice.
I will endevour to inform him (through Peter Ball) that CMM has a loyal following on this Blog, and that he should visit us sometimes.
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