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The presentation is little changed from August. No numbers are given for the amount of gold produced July or August and no update on tonnage to the mill.
It is mentioned that the ore headgrade is below 4.7 ... but we knew this already.
Is it just me or is anyone else feeling "underinformed" right now.
Not sure I see the point of puting out the september presentation.
This is complete crap. There was NO new information in the presentation. What's the point of putting out the presentation with no new information? No wonder the S/P is crap.
Very "underinformed". I'm so puzzled. What is the interim CEO thinking? I wish they could have given the July and August production ounces. For all we know the 1000 tpd could be just dirt.
Has anyone talked to Peter?
Anyways I'm still holding on to my shares. Hope we get over this hiccup sooner than later.
I completely agree with you. I think we all do. The digressions market communication and general lack of market support from new management (or even making basic attempts to educate the market on a consistent basis) is both frustrating and puzzling to both long suffering shareholders and new shareholders.
Shareholders suffered through 5 years of this exact approach. Peggy just recently changed her communication strtegy (starting late last year and for the first 5 months of this year) and it was probably the most positive period in the last 5 years (too bad about the Cease Trade Order and about the start up delays). I don`t think shareholders or the market had ever been so well informed over that 5 year period. I think shareholders felt good about their investment with Century and informed about the direction of the company (specifically the core operation - Lamaque). It showed in the share price.
Nevertheless, based on the numbers that are available (thanks to CMJ), I think we are producing more than just dirt.
This is from the CMJ article:
``the head grade has been approximately 4.0 g/t Au during startup``
``Gold recovery was running 95.6% in July``
Based on the available data, the math would suggest that they were producing gold in July and potentially August also.
If they did actually generate those numbers via the mill in August, 1,000 tpd, 4.0 g/t grade and 96% recovery rate, then we are looking at around 3,700 ounces for Lamaque in August.
Even if we lower the grade to 3.0 g/t, with 1,000 tpd and 96% recovery, we are still looking at around 2,800 ounces for Lamaque in August.
Perhaps they are thinking that the market, the analysts and the institutions will not embrace a 4.0 g/t grade when the life of mine target at ramped up levels is 4.77. Perhaps they are thinking that those folks will not care if we have very acceptable reasons for the 4.0 g/t grade (and that our reserve grade is actually coming in close to expected levels) during start up.
This is far out. Two others (oilers) I own with above average management have come out with a repeat presentation for Sept. and a much delayed progress report even though a lot has taken place.
Shortened work week .. holidays .. illness? or just an incorrect file name. If the previous pres. was the working (base doc.) then mistake. A better alternative than no progress.
It is quite apparent the Sept monthly updates is "underinformed" and a half-hearted job with apparently no importance being attached. But how/why so? I would like to offer the following reasons:-
1) Mr KH truly believes that from his past experience, a quarterly release is sufficient for the purpose of "progress reporting" for CMM at this stage. It is simple to figure out average figures of TPD and ounces mined over a quarter may be more realistic than the potential up and down figures of the various individual months. 2) Looking at the 5 upcoming events lined up for Sept and Nov, it is apparent the Co is making great effort in promoting. So it is possible these figures are "reserved" for these occassions otherwise "fresh, unexpected, surprising elements" will be lacking in the shows. If all info are fully released and every child is awared how many bolts and nuts CMM has to-date, then how are talking points be built? how could larger investors be impressed? 3) It is possible that all these TPD, ounces mined and other related figures/info might have been reserved for third party analysis before they are made public. 4) Lastly, it is felt that the final decision to continue making monthly releases or not will be left to the new CEO to decide These occured to me as I pondered. I do not expect concurrance by many, if at all any. Anyway, since Real_Economics mentioned he will be talking to PB early next week and will post a summary of his conversation with him, may I suggest we request him to bring this up SPECIFICALLY to PB at the same time? It will surely clear the air once and for all.
7 comments:
The presentation is little changed from August. No numbers are given for the amount of gold produced July or August and no update on tonnage to the mill.
It is mentioned that the ore headgrade is below 4.7 ... but we knew this already.
Is it just me or is anyone else feeling "underinformed" right now.
Not sure I see the point of puting out the september presentation.
Mike
This is complete crap. There was NO new information in the presentation. What's the point of putting out the presentation with no new information? No wonder the S/P is crap.
The only reason I can think of for the lack of production numbers (TPD and OZ) is that they've suffered from massive setbacks in production.
Very "underinformed". I'm so puzzled. What is the interim CEO thinking? I wish they could have given the July and August production ounces. For all we know the 1000 tpd could be just dirt.
Has anyone talked to Peter?
Anyways I'm still holding on to my shares. Hope we get over this hiccup sooner than later.
Hi Keith,
I completely agree with you. I think we all do. The digressions market communication and general lack of market support from new management (or even making basic attempts to educate the market on a consistent basis) is both frustrating and puzzling to both long suffering shareholders and new shareholders.
Shareholders suffered through 5 years of this exact approach. Peggy just recently changed her communication strtegy (starting late last year and for the first 5 months of this year) and it was probably the most positive period in the last 5 years (too bad about the Cease Trade Order and about the start up delays). I don`t think shareholders or the market had ever been so well informed over that 5 year period. I think shareholders felt good about their investment with Century and informed about the direction of the company (specifically the core operation - Lamaque). It showed in the share price.
Nevertheless, based on the numbers that are available (thanks to CMJ), I think we are producing more than just dirt.
This is from the CMJ article:
``the head grade has been approximately 4.0 g/t Au during startup``
``Gold recovery was running 95.6% in July``
Based on the available data, the math would suggest that they were producing gold in July and potentially August also.
If they did actually generate those numbers via the mill in August, 1,000 tpd, 4.0 g/t grade and 96% recovery rate, then we are looking at around 3,700 ounces for Lamaque in August.
Even if we lower the grade to 3.0 g/t, with 1,000 tpd and 96% recovery, we are still looking at around 2,800 ounces for Lamaque in August.
Perhaps they are thinking that the market, the analysts and the institutions will not embrace a 4.0 g/t grade when the life of mine target at ramped up levels is 4.77. Perhaps they are thinking that those folks will not care if we have very acceptable reasons for the 4.0 g/t grade (and that our reserve grade is actually coming in close to expected levels) during start up.
This is far out. Two others (oilers) I own with above average management have come out with a repeat presentation for Sept. and a much delayed progress report even though a lot has taken place.
Shortened work week .. holidays .. illness? or just an incorrect file name. If the previous pres. was the working (base doc.) then mistake. A better alternative than no progress.
Peter
It is quite apparent the Sept monthly updates is "underinformed" and a half-hearted job with apparently no importance being attached. But how/why so?
I would like to offer the following reasons:-
1) Mr KH truly believes that from his past experience, a quarterly release is sufficient for the purpose of "progress reporting" for CMM at this stage. It is simple to figure out average figures of TPD and ounces mined over a quarter may be more realistic than the potential up and down figures of the various individual months.
2) Looking at the 5 upcoming events lined up for Sept and Nov, it is apparent the Co is making great effort in promoting. So it is possible these figures are "reserved" for these occassions otherwise "fresh, unexpected, surprising elements" will be lacking in the shows. If all info are fully released and every child is awared how many bolts and nuts CMM has to-date, then how are talking points be built? how could larger investors be impressed?
3) It is possible that all these TPD, ounces mined and other related figures/info might have been reserved for third party analysis before they are made public.
4) Lastly, it is felt that the final decision to continue making monthly releases or not will be left to the new CEO to decide
These occured to me as I pondered. I do not expect concurrance by many, if at all any. Anyway, since Real_Economics mentioned he will be talking to PB early next week and will post a summary of his conversation with him, may I suggest we request him to bring this up SPECIFICALLY to PB at the same time? It will surely clear the air once and for all.
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