Tuesday, April 12, 2011

Our Comments on the Conference Call

I pressed star 1 five times, several times when there "is no one in the que.
I am using skype but that should not be a factor.
Not feeling very good.

27 comments:

Rickydee said...

Cone crusher lubricant thing made me laugh, and the guy calling him a terrorist. Thank you sir for asking that. The lady had some valid questions and Major seemed to dance around Intergeo possibly making a play for WTG/CMM by making 3-4 assumptions, otherwise either he knows thats the plan and is screwing around or he doesnt know finskiy's true motives.
Did like the fact they cleared up the record date, didnt like the deferred stripping for Q3. One of the callers probably shouldnt have pointed to the forums for a source of our comments as now they will keep an even closer eye on us. The first caller was an idiot, taking a shot at dissenters.

Rickydee said...

and according to the oz cost at SJ they stated it was down 10percent from 2009, did they still not get the numbers correct from the 2009 audited cost base

peety said...

I also tried *1 repeatedly and could not get in queue to ask a question. Also, the call appeared to end abruptly prior to the stated 45 minute duration.

Hoov said...

I pressed *1, and didn't get through, either. I'm not too pleased by that.

Lar

nt300 said...

"The first caller was an idiot, taking a shot at dissenters."

Do you mean the guy getting is paws pampered by F & Co...

Wopster said...

These sites are definately being reviewed daily by all including CMM BOD's. This is why out committee is on private discussions.

Major had no comments on the guy who name called and only replied that future will reveal something to soften the blow for all upset minority shareholders if they meet and ramp up on Lamaque operation and grades if they can as they are stuggling right now - Ya Right!

Circular is delayed due to WTG being part of TSX and no record date as of yet.

No white knight as of yet - prbably waiting on circular.

Can't wait to see how the circular will compare both headquarters and what rules each area allows.

Grade has increased in April and TPD are at approx 1120 but won't be sure for about another month if we can raise our grades?

Wopster

peety said...

Has anyone tried contacting CMM investor relations directly with questions and been successful? I have emailed a couple of times and not received a reply...
Who do you contact at CMM that has the time to talk?

Wopster said...

Maybe record date has not been set because they are not so sure if they have enough yes votes and are delaying to accumulate as many shares as they can.

IMHO - At these rock low prices - don't sell and give up your shares and strengthen their hands.

Wopster

FREDERICTON said...

That Conference call was unreal and not what I expected. I've got to listen to it again and come to some conclusions. It was very strange to say the least.

In the meantime.... don't you just have to love Tyne Easily?

blizzy said...

I was out today, had to work.
Called in from my cell phone, waited and waited, called again, waited. Could not even get in on the call, the computer answered said i would be directed but never happened.
NOW I AM PISSED, if I was not before.
Hoov, S/N, Carib. Anything you need,ask.
I missed the close today but I will have a bid in tomorrow.
I may have more comments after I listen to the recording.

blizzy said...

Hydraulics 101 guys.
ANY tool with a wrench can turn a drain bung and seize a system on the spot, without even getting their hands dirty.
Under a minute.
Besides these systems are built with backup systems and alarms on the control panel, over pressure on the system due to a low oil condition sets off LOUD alarms, then the control panel will shut down the system to prevent it blowing.
If this is the story they are telling then it is absolutely fabricated, the systems are built to prevent this type of failure.
And I am an expert.

PayDay said...

We need to send that caller over to Lamaque to check out this cone crusher himself. He was ready to go there.

I'm not a mechanic myself but it seems inconceivable that a BRAND NEW piece of equipment would sieze up after less than a year of use.

These Bozos *do* need to be fired asap! Now they expect us to believe that they can run another mine in Russia as well? What kind of excuses then?

PayDay said...

Also, any ideas on which COMPANY would have purchased/exercised Finksky warrants??

Somehow related to Finksky no doubt.

Gold1 said...

We do not want to be too complacent.

Another delay in record date could be a big plus unless it was over sight as stated. R. date for cmm should not be influenced by wtg-tsx unless it has to do with meeting date for both co. Will the meeting be changed as well? Gobbling up our cash!!

dave peters said...

"I'm not a mechanic myself but it seems inconceivable that a BRAND NEW piece of equipment would sieze up after less than a year of use."

PayDay, FWIW, on the conference call the guy answering the question said that in fact it was NOT a new piece of equipment that failed.

Rickydee said...

funny the record date changes, this way they can concoct a strategy for staving off the no vote, hence the hiring of the former OSC guy. This gives them time to play some more games, put out negative news releases and drain some of the coffers and put us into more of a dire need sitation like theyve been doing. Plus dont forget that doing this brings us closer to the time that Intergeo comes onto the market, allowing them to scoop up CMM/WTG soon after merger if it happens. These guys are not idiots they wouldnt change the record date for our benefit, professional thieves plan their point of attack, this is exactly what they are doing. Expect another wacky news release in the near future to pick up more cheap shares. By overstating the production numbers for this year, he left the door open for failure, remember he said he might have to revise the numbers if the grades are not what was expected, so dont be surprised if they anounce extremely low grades or some sort of malfunction.

PayDay said...

this brings us closer to the time that Intergeo comes onto the market, allowing them to scoop up CMM/WTG soon after merger
------------

Didn't Major say that Intergeo had nothing to do with gold and wouldn't be interested in CMM? Or did I hear that wrong?

Funny how Finksky is president of Intergeo though...i wouldn't put it past him to try to combine the two somehow.

Rickydee said...

major did say that he assumed it would not happen since intergeo is not a gold mining company, but he spoke without confidence, as in he couldnt difinitevely say no to that argument. Dont forget guys 51percent control in BVI, nothing will stop him from having a reverse take over occur from either intergeo or polyus

Rickydee said...

and i wouldnt be surprised if prokhorov would be the person that exercised the warrants, it wouldnt be too far from logic

Wingfong said...

From the CC audio recording, DM's tone of voice was so much subdued. I thought I was listening to a ceo who was either sick or not slept well the previous night or his mind was full of fear, remorse n highly stressed. His cockyness was gone n surprisingly he had to bring along McNutt to buttress him this round.

nt300 said...

Just listened to the CC. The women that called in had a good questions on how much control CMM shareholders will have with the new company.

The CEO claimed that CMM shareholders would have over 60% control over the new company. Funny how he didn't say anything about the 51% control Fink-Skiy is going to have and will do what he wants regardless what we vote on.

More BS coming from Major...I hope we vote this merger down with a super large NO vote support just to let them know they F**ed Up...

maria said...

Those conference calls are such a waste of time. It's all lies and half-truths. The first caller (an insider), attempted to set the tone by mentioning his disapproval of the dissenters.

Major is very clear and precise when he finds an opportunity to recite WTG's "potential" but he rambles when he talks about CMM.

He refer the first question about the crusher to the "expert" as if he didn't know the answer. He didn't know the crusher lacked lubricant. Then when the same man called again, feeling his intelligence insulted, then Major seem to "know"all about it. He knew they had reevaluated the whole lubricant system...etc...etc.
This DM should run for political office.

nt300 said...

The explanation via the CC of how the Cone Crusher break down is a complete joke. The guy that explained about the lack of lubrication knows absolutely nothing about Fluid Power... These systems are designed with a failsafe to prevent damage if for some ridiculous reason there’s a leak in the system...



Having a crusher liner failure would have sounded more believable. But only takes hours to replace with a qualified tech. But using lubrication as the culprit? LMFHO, that doesn’t happen due to having protective systems in place to give you ample warning(s). This was a setup and the first step in assisting the dumping of Century’s stock price... Yes the BS worked too...



What makes me angry about this Merger/Takeover is not the merger itself, it’s the way they are conducting themselves both from CMM & WTG. It seems as though they are trying to force it down our throats regardless what we say and/or do by means of manipulation and lies. The authorities have been notified by many of CMM investors and climbing fast, be assured that there currently conducting a massive investigation to defraud this hidden agenda WTG leader has for us. We want no part in it...

Wingfong said...

Callers were fault finding. zeroing in on perceived mistakes/abnormal events with suspicion n I can feel the agitation of the caller who called for the firing of the person who had failed to lubricate the cone crusher! There were no interest from analyst or institution. One caller particularly brought up the issue that there were deep mistrust from minority share holders in management n DM said he was awared n would try to solve the problem by some sort of road show soon.
I think the best right thing for him to do now is to pledge that he shall pull out from the Lamaque ground a minimum of 6000oz gold per month and 18000oz per 3 months failing which he will resign n surrender his 3 million warrants.
It is so embarrassing that, our team, in spite of all the self-claimed experience, importance n qualification is not even able to match Integra Gold (ITG), our small neighbour in performance. Why talk so much n divert attention to all the fancy growth stories n venturing into Siberia bla bla bla when U can't even organise your backyard well n make ends meet first? I think the 1,321,287 oz of P&P gold in the Lamaque ground must be laughing too.

Ron S. said...

Love your comments Wing Fong.
We sure are all feeling the pain.

Yes, SO funny the the smart guys can recognize a better deal from Russia and cannot optimize production in Quebec.
Not up to the challenge to be miners. Lets see, what is our management then?

Oh but lets do a road show and talk up some salvation coming from russia.
Yeah, that will really make me a believer Danny.

Ryan K said...

After listening to the CC and looking at the press release. I believe that DM either misspoke or flat out lied. The caller asked the question about the 13.5mil payment if the BOD accepted a better offer. DM response was that they could accept an offer but not actively seek it out. Straight out of the press release 13.5mil due if "Agreement is terminated as a result of the board of directors of Century approving, recommending, or accepting a 'superior proposal' " I think that is pretty clear that if the BOD accepts a better offer (the white knight scenario) CMM will owe WTG. Am I missing something here?

paliman said...

Ron S. if there was a White Knight they would challange 13.5 million payment in court and have it removed. I cant believe it would stand.