Here is the automatic link to the CMJ article

Thanks for the link. It`s still not showing up on their homepage. I would have never found it without your link. I linked it directly to the Century article (for ease). You may need to chick on it if it`s not large.

http://century-mining.googlegroups.com/web/CMJ+Sept+Article+on+Century.pdf?gda=Q6mDdlkAAADTz2PT3QA3hiLQv4x9l8yOEPPN2EUTNpfzO8mKBV4Q5mZXIaVGPW2xEVtk7tL5ygUNRI9ZNupRuxzwtkKVawGP0tk1XayMEVQJVCRjDU7IK4QIqBBuatoZ3GVm6VpieyE

CMJ (Canadian Mining Journal)

"Marilyn Scales is in Val d'or, QC , this week touring Century Mining's reopened mine. Read her article in the September issue of Canadian Mining Jornal."

This was posted early August.
Anybody see anything from her on Century yet??

A Few Comments

Production, as always you present a compelling case for Century shares based on the market caps and forecast production of many of our peers.  We have more gold in the ground than many of them too.

Wingfong, I'm not certain that Century's shunning of Canadian brokerages was purely by choice.  I can recall Peggy saying on a conference call several years ago now that she chose not to finance with Canadian brokerages because they demand too high a price in financial terms - meaning full warrants and a discounted private placement share price.  That is all too true and if you're an exploration company or even a near-term producer, often the only way to get financing and analyst coverage is to "play the game".  However in Peggy's case, I suspect she didn't have a choice anyway because of her prior history with Canadian brokerages and therefore most of our financing has come from other countries.

In any case institutional investment covers a much wider investment community than the Canadian brokerages themselves.  There are many, many mutuals funds that invest in Canadian mining companies and many newsletters that recommend undervalued companies. It helps to be on the Toronto Stock Exchange, but that is something rarely mentioned by Century in a long time.

Based on records from Stockwatch that are mainly from 2009, our institutional investment is very weak:

The gap (updated)

Century Mining:
*Outstanding shares = 366,963,444
*Current market cap = $154,00,000
*2011 production = 115,000 ounces
*2013 production = 130,000 (potential for 180,000 ounces whenever they choose to put in place a 3,000 tpd mining plan for Lamaque – 3,000 tpd milling capabilities already in place)
*Cash cost per ounce = $450 - 550

It`s about giving the market reasons to have investor confidence in both the operations and management, along with the abilities to attract large investors.

It`s difficult for Century to fully compete with the extremely (expected) low cost mid-tier producers, but with US$1,250 gold Century should at least be within viewing distance. Century`s market cap is not even in the same stratosphere (or troposphere or mesosphere for that matter). Century`s market cap is so far behind that it`s similar to being isolated on some distant (desolate) planet in some far out galaxy without any fancy atmospheric names as those.

IMO, near-term, Century needs to (among many other things) :

*continue delivering good levels of tpd at Lamaque 2, while also continuing to increase the average grade of the non-reserve stopes while also continuing to optimize the new low-profile equipment

*initiate reasonable ore feeds to the mill from the Bedard Dyke

*continue to demonstrate good development progress with the North Wall Zone

*do a much better job at educating the market of all the fabulous initiates Century has on the go and about the wonderful property that is Lamaque

Century should never be satisfied with sub-standard performance. If that culture exists then it should be purged immediately. Century should aim to achieve shareholder performance levels like management from these companies (never mind the huge successes for other companies, not on the list, such as Red Back, Eldorado, Randgold and many others):

1) Andean Resources:
*Outstanding shares = 541,,382,867
*Current market cap = $3,779,000,000
*2011 production = zero
*2013 production = 250,000 – 300,000 ounces
*Cash cost per ounce = less than $200

2) Semafo:
*Outstanding shares = 270,991,435
*Current market cap = $2,450,000,000
*2011 production = 235,000 – 260,000 ounces
*2013 production = 235,000 – 260,000 ounces
*Cash cost per ounce = $485 - 520

3) Alamos Gold:
*Outstanding shares = 115,779,106
*Current market cap = $1,999,000,000
*2011 production = 160,000 – 175,000 ounces
*2013 production = 250,000 - 300,000 ounces
*Cash cost per ounce = $338 (for core asset only – the new mine in 2013 will likely increase the avg)

4) Lake Shore Gold:
*Outstanding shares = 351,097,726
*Current market cap = $1,331,000,000
*2011 production = 120,000 ounces
*2013 production = 200,000 ounces
*Cash cost per ounce = $320 (old estimate only)

5) San Gold Corp:
*Outstanding shares = 277,934,000
*Current market cap = $1,264,599,700

*2011 production = unclear (these guys seldom ever give production guidance, or at least I almost never see any – IMO, their actual production (start up) performance continues to be poor over 2 years now (probably more like going back 5 years now, but that`s another story), yet the market gives them a $1.3 billion market cap and never ever punishes them for the sub-standard operating performance (it`s probably because they, and certain public people, hype their high grade zones non-stop to investors that like to eat up that stuff, but at some point they need to start showing the goods on the operations front, IMO))

*2013 production = unclear (at one point I remember seeing an old figure of 200,000 ounces), in Q2 2010 they had gold sales of 10,190 which is only 40,000 extrapolated on an annualized basis, with a head grade of 6.76 g/t and only a 93% recovery rate, with an $8M Income Statement loss

*Cash cost per ounce = unclear (again, at one point I remember seeing an old figure of $350), their actual cash cost per ounce was US$1,084 in Q2 2010

6) Aurizon (another company with operations in Quebec):
*Outstanding shares = 159,723,105
*Current market cap = $1,089,000,000
*2011 production = 150,000 – 175,000 ounces
*2013 production = unknown
*Cash cost per ounce = $425 (US$504 operating cost per oz in Q2`10)

7) Anatolia Minerals:
*Outstanding shares = 138,798,696
*Current market cap = $1,038,000,000
*2011 production = 145,000 ounces
*2013 production = 210,000 ounces
*Cash cost per ounce = $260 (old number)

8) Romarco Minerals:
*Outstanding shares = 469,398,375
*Current market cap = $953,000,000
*2011 production = zero
*2013 production = 150,000 ounces
*Cash cost per ounce = $266 (old number)

9) China Gold International Resource (formerly Jinshan Gold):
*Outstanding shares = 171,854,459
*Current market cap = $767,000,000
*2011 production = 120,000 ounces
*2013 production = 140,000 ounces
*Cash cost per ounce = $401

10) B2Gold:
*Outstanding shares = 311,648,609
*Current market cap = $586,000,000
*2011 production = 120,000 – 130,000 ounces
*2013 production = 120,000 – 130,000 ounces
*Cash cost per ounce = $558 (avg of their 2 mines)

11) St Andrew Goldfields:
*Outstanding shares = 360,382,257
*Current market cap = $443,000,000
*2011 production = 110,000 ounces
*2013 production = unclear
*Cash cost per ounce = $550

Prod 5,,,,,,,,,,

one of our members here said it right. STANDING OVATION. Your response was more measured than mine would have ever been. I respect your level headed approach to investing and especially ALL the excellent analysis which you present to this Blog and on SH. I am sure I speak for all here and for all on SH, you are fountain of information and 99.9% of us enjoy your prognostications as we wait for CMM to come on line.

I hope you will continue to share your wit and thoughts on CMM, when you feel it is warranted.
With the most sincere respect! Rhump.

Standard SEC (US) insider filing by Finskiy today (likely due to the recent warrant conversions)

Finskiy filed the SEC 13D form, for insider share purchases. I only took a quick glance at the document. It has similar info to the original acquisition document filed SEDAR (Canada) on Jan. 14`10, with the exception of inclusion of the recent warrant conversion shares.

http://www.streetinsider.com/SEC+Filings/Form++SC+13D+++++CENTURY+MINING+CORP++++++++++++++++++++Filed+by%3A+Finskiy+Maxim+Valerievich/5943822.html

Of note, on May 28, 2007, Century stated that they submitted form 40-F to the SEC to register shares in the US. It`s not clear if this is the reason Finskiy has to file an insider report with the SEC (even though Century doesn`t trade on a primary US Exchange - I believe Century trades in the US on only the OTC platform, if I understand correctly), but that would be my first guess. Again, I don`t have a lot of knowledge about Century`s US exposure or requirements.

At one time Century stated that they hoped to eventually explore the possibilities of also trading on a primary US exchange or a London exchange or the Lima exchange or a combination. Once Century ramps up Lamaque, it will be interesting to see if they choose to continue exploring those avenues. I don`t think there are a lot of benefits to list elsewhere prior to fixing the market cap issues in Toronto (plus, some of those exchanges have a minimum share price requirement - $.42 just doesn`t cut it). Once the market cap issues are fixed on the Venture exchange, the next exchange priority is to seek out a TSX main board listing. A TSX listing should provide more visibility and perhaps attract some of the institutions that are not allowed to invest in Venture companies. We will know we have arrived if we one day get included in a TSX Index.

Here is Century`s NR from May 28, 2007:

BLAINE, WA: Century Mining Corporation (CMM: TSX-V) announced today that, by filing Form 40-F, it has completed the registration of its common shares with the United States Securities and Exchange Commission (SEC), pursuant to Section 12(b) of the Securities and Exchange Act of 1934. The registration is available for viewing on the SEC’s EDGAR Database at http://www.sec.gov.

As a foreign private issuer, Century has access to U.S. equity markets under the Multi-jurisdictional Disclosure System (MJDS), which allows Canadian issuers to meet U.S. filing requirements by using Canadian disclosure documents.

Since its introduction in 1991, MJDS has played a key role in allowing Canadian companies conducting public offerings in Canada to extend those offerings to the U.S. public. Canadian issuers use MJDS forms to offer securities publicly in the U.S. based on a Canadian prospectus that is only subject to review by Canadian securities regulators. In addition, MJDS allows eligible Canadian companies to meet their ongoing U.S. public annual reporting requirements by wrapping a Form 40-F around their Annual Information Form filed with the Canadian securities regulators and filing that Form 40-F with the SEC.

Margaret Kent, President and CEO commented, “This is yet another step for Century in our strategy to expand global operations and maintain growth. This filing is part of the company’s strategy to list its shares in the United States, and is a result of our firm belief that there is significant potential in U.S., European and other world equity markets for companies like Century Mining with excellent growth prospects. We will continue to implement policies that enhance shareholder value by increasing Century’s exposure to global capital markets.”

Thanks

This is my favorite blog in the world. I want to thank each of you for the honest and unhindered dialogues. For Blevit, just be aware that the market is like a school of baitfish swimming in an ocean full of predators. If a tuna darts in, he's going to get to eat, and all the school will scatter in all directions. Don't panic, be patient and alert, and remember that the school will re-form (reform?) in a bit and go on about its business. If you don't panic, you will keep your money - you only lose it if you sell at a loss, or buy a loser.

CMM is one of the toughest, most durable and persevering companies I have ever seen - even if they trip over their own feet sometimes along the way. They came this far entirely on their own speed, and continue to improve their profile from one month to the next. It isn't to say that we don't still face challenges - we do - but they are being dealt with by competent people. The tale of the tortoise and the hare isn't part of our mythology because its wrong about how things really work.

Comment

It is a frustrating thing to watch our s/p dither while so many miners are shooting up. Every day, I question why I keep holding CMM stock. (I do this with all my investments.) Part of why I keep my shares is that my investment window is 2-5 years. If you want to really grow a mining portfolio, you can't do it day-trading. The 3-month plan won't work. You are going to miss the pulse, when it comes, if you aren't on the table. Developing a profitable mine takes time, money and bloody hard work. Even if management is right all the time-which they never are (being human)- things crop up that slow things down. Our equipment is late. Anybody care to guess what the backlog is at Sandvik? Or any other mining equipment-maker right now?
There are so many mines in development right now that it blows the mind. Companies are out there digging it up at less than 1g/ton ore. Or planning to. And they are all buying and ordering mining equipment. I am glad the explorers get a bit of holiday here, with gold so high, but when gold corrects 5 years out or so, all those guys with less than .25oz/ton in the ground are going to go bust, shut down and pull out the mothballs and pumps. By that time, Century will be in full swing or bought out. The thing that makes this company attractive is the gold in the ground, the ore concentration, and the fact that they are in "...stable, mining-friendly jurisdictions..." as they are so fond of saying. I like this company because even if gold goes back to 800.00/oz, they will still turn a profit. I like this company because, even if I hold for the next 16 years, I know they have a good pipeline of properties. I know that because P05 does his homework, and isn't afraid to suggest scenarios. I know it because every time I call Peter, I get straight answers. I know it because I do a daily routine of due diligence.
Worried about debt? I'd like for CMM to be debt free, but they wouldn't trade at this level if they were. There is ALWAYS a good reason that the market holds a s/p down. But here's the nut-why I don't sell my core here: in manufacturing, the only mutable cost is labor. That includes management. We have issues as a company. All of them are well-known. And every person in Blaine, San Juan and Val D'Or that I can get a sense of is doing their damnedest to get this company up and running.
I reside in P05's camp strongly because I firmly believe that we small fish ought to be heard. Okay - we own less than 50%, maybe, but what happens to any public company if the public doesn't like them? 100% institutional ownership doesn't exist (okay-we'd like 20%, I get it!).
The money on this company is going to come next year. And every year after that, it is going to grow. I put all the information about our BOD out here because I believe that we have some excellent people who know mining on our board. Like any other small company, we have some debt financing to deal with. On top of that, we have to show: timely quarterlies, improving mine profiles, get a good CEO, etc.Just remember the basics - we have a lot of high-grade ore, and a team building that will PROBABLY get it out of the ground at a great profit. If you aren't comfortable with trusting your instinct, go buy the majors. Your investment won't grow much, but it will be stable. And after 16 years, you will likely have made less money than if you had bought a troubled company that was improving its profile.

For the record, Mr.Stormpay, please don't ever hesitate to publish your thoughts. I also am in your camp (for what its worth), because we ought to all be skeptics. If the hard questions aren't asked and discussed, then what the devil is the use of a blog anyway? Just let's all stay on topic, and avoid personal attacks - they disqualify an argument. We MUST be better than our politicians!

NSM......

Do they not also have about 45million worth of debt maturing in the next year or so? When we do the math they are almost worthless (as a company).

Easy now people!!!

Alright people, it's good to brain storm a little but making crazy assumptions about the stock and making all of these ideas public simple holds the share price down in the long run. Sure it is good to share ideas but this site get's a lot of hits and investors (retail) are taking this information way to seriously. At the end of the day 95% of the stuff that is said here is here is here say. If we keep raising the bar for century to umbers that are virtually impossible to acquire we raise investor expectations. When I talk to some of the smaller investors that own century the read this blog a lot. Not to sound like a preacher but it would be nice to keep things in perspective and not get a head of our selves. We are a junior producer and the smallest of expectations will either hurt us or make us in a bad way. I am not preaching at anyone person by any means but just letting people know what raising the bar too high can do. Like it or not this is the way the cards have been falling....People read raise their expectations and then when things are not met by people raising the bar we get hurt in the end when the true numbers were fairly close to reality.

Now your rebuttals lol