I looks like they only got $1.3M for this first one. It's confusing though, as it doesn't say FT. It might be the FT though as there are no warrants. We'll see if there is more to come.
Maybe they will put out an NR soon. Here is the TSX-V note:
CENTURY MINING CORPORATION ("CMM")
BULLETIN TYPE: Private Placement-Non-Brokered
BULLETIN DATE: November 2, 2009
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced October 13, 2009:
First Tranche:
Number of Shares: 6,498,074 shares
Purchase Price: $0.20 per share
Number of Placees: 14 placees
Finder's Fee: $90,973.04 cash and (i)454,865 warrants
payable to Union Securities Ltd.
(i)Finder's fee warrants are exercisable at
$0.20 per share for 18 months.
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.
Monday, November 2, 2009
Saturday, October 31, 2009
Odds and ends
1) Bedard Dyke Drilling
We’ve probably been drilling for 4 weeks now. I wonder if the assay results will be back within the next 2 to 3 weeks. I guess it all depends on how busy the external labs are at this time.
2) Vulcan Resource Update
We are probably overdue for the next update. We have received 3 updates so far this year (February, April and June) and they have been very fruitful in either significantly increasing our 43-101 resource count or identifying new high grade zones, or both. It would be good if they could release another update in November so that all parties involved in the financing deal can get a refresher of Lamaque’s resource potential in this US$1,040 (potentially US$1,500 to US$2,000) gold price environment. This isn’t the late 90s with US$250 – US$300 gold. We have the right product for this market – gold.
3) Our Val d’Or properties outside of the Lamaque Complex
At some point after the major PP gets closed off I would like to see Century toss a bit of spare change towards initiating work on one or two of our high potential target areas on these properties (if it doesn’t get in the way of the start up of course). There have already been some really good drill results in some areas in the past. Perhaps Century can create a Vulcan model with these historical drilled data also, thus enabling them to better select drill targets (along with the assistance of mapping, surveys, rock samples, pit holes, etc.). I would like to see Century drill maybe about 10 holes to test the continuation potential of the historical holes.
I personally believe there is enormous potential here.
I think demonstrating the potential of our adjacent properties will get some of the skeptics (the ones that don’t like old mines) excited about our fresh new un-mined Val d’Or properties.
From the Salaried Staffed Personnel job posting: “There also exists significant exploration potential on and near the property which is expected to add substantial ounces and years to the current production schedule and mine life.”
4) IQ Debt
I wonder if they will renegotiate the IQ Debt down from C$16.1M to say C$11M then pay it completely off later in the ramp up phase once the Lamaque development targets are achieved and the C$10.8M (US$10M) is released by the bank (from the Performance Reserves Account). It would allow Century to be pretty much debt free other than the US$33M prepaid gold sale to the bank, which will be paid back by delivering the 61,000 gold ounces over the next 5 years. It would also mean no interest payments to make which will be positive on our cash flow.
From the Circular: “The closing of the Private Placement is subject to, among other things, the following conditions:”
“(e) an agreement shall have been entered into with respect to either a buy-out or renegotiation of the long
term note held by Investissement Québec, on terms satisfactory to the Investor acting reasonably;”
5) The Exchange has conditionally approved the major PP
From the Circular: “The Exchange has provided its conditional acceptance to the Private Placement subject to the Company obtaining disinterested shareholders’ approval on the creation of new Control Persons and other customary conditions of the Exchange, including the Company issuing a press release with respect to increasing the size of the Private Placement from $20,000,000 to $21,000,000.”
6) Investor’s intention for Century: ‘sizeable gold producer’
From the Circular: “Kirkland and Gravity have indicated their intention to grow the Company into a sizeable gold producer and Shareholders should benefit from this growth and support.”
We’ve probably been drilling for 4 weeks now. I wonder if the assay results will be back within the next 2 to 3 weeks. I guess it all depends on how busy the external labs are at this time.
2) Vulcan Resource Update
We are probably overdue for the next update. We have received 3 updates so far this year (February, April and June) and they have been very fruitful in either significantly increasing our 43-101 resource count or identifying new high grade zones, or both. It would be good if they could release another update in November so that all parties involved in the financing deal can get a refresher of Lamaque’s resource potential in this US$1,040 (potentially US$1,500 to US$2,000) gold price environment. This isn’t the late 90s with US$250 – US$300 gold. We have the right product for this market – gold.
3) Our Val d’Or properties outside of the Lamaque Complex
At some point after the major PP gets closed off I would like to see Century toss a bit of spare change towards initiating work on one or two of our high potential target areas on these properties (if it doesn’t get in the way of the start up of course). There have already been some really good drill results in some areas in the past. Perhaps Century can create a Vulcan model with these historical drilled data also, thus enabling them to better select drill targets (along with the assistance of mapping, surveys, rock samples, pit holes, etc.). I would like to see Century drill maybe about 10 holes to test the continuation potential of the historical holes.
I personally believe there is enormous potential here.
I think demonstrating the potential of our adjacent properties will get some of the skeptics (the ones that don’t like old mines) excited about our fresh new un-mined Val d’Or properties.
From the Salaried Staffed Personnel job posting: “There also exists significant exploration potential on and near the property which is expected to add substantial ounces and years to the current production schedule and mine life.”
4) IQ Debt
I wonder if they will renegotiate the IQ Debt down from C$16.1M to say C$11M then pay it completely off later in the ramp up phase once the Lamaque development targets are achieved and the C$10.8M (US$10M) is released by the bank (from the Performance Reserves Account). It would allow Century to be pretty much debt free other than the US$33M prepaid gold sale to the bank, which will be paid back by delivering the 61,000 gold ounces over the next 5 years. It would also mean no interest payments to make which will be positive on our cash flow.
From the Circular: “The closing of the Private Placement is subject to, among other things, the following conditions:”
“(e) an agreement shall have been entered into with respect to either a buy-out or renegotiation of the long
term note held by Investissement Québec, on terms satisfactory to the Investor acting reasonably;”
5) The Exchange has conditionally approved the major PP
From the Circular: “The Exchange has provided its conditional acceptance to the Private Placement subject to the Company obtaining disinterested shareholders’ approval on the creation of new Control Persons and other customary conditions of the Exchange, including the Company issuing a press release with respect to increasing the size of the Private Placement from $20,000,000 to $21,000,000.”
6) Investor’s intention for Century: ‘sizeable gold producer’
From the Circular: “Kirkland and Gravity have indicated their intention to grow the Company into a sizeable gold producer and Shareholders should benefit from this growth and support.”
Friday, October 30, 2009
A few initial key notes from the Circular
If my initial glance is correct, there is a chance that the financing could end up being $58,000,000 (not accounting for exchange rates) + $15,750,000 when the $.30 warrants are exercised.
The prepaid gold sales is now 61,000 ounces over 5 years. It provides US$33,000,000. However, US$10,000,000 will be deposited into a performance reserve account. My guess is that the US$10,000,000 will only be released once Lamaque achieves specific targets during the development period.
It looks like they will be closing $2,000,000 of the FT financing today (by end of October).
They are looking to close off another $2,000,000 FT financing in November, but prior to the major financing close off date.
It doesn't appear as if Finskiy and Scola are participating in the bridge financing.
Finskiy and Scola will be contributing $16,000,000 with a stand by guarantee for another $5,000,000 if additional purchasers are not identified for the $5,000,000. Essentially, if additional buyers (friendly to both Century and the Investor) are not identified then Finskiy and Scola will subscribe to the entire $21,000,000 (105,000,000 shares), otherwise they will stick to the C$16,000,000 (minimum requirement to access the US$33,000,000 bank financing).
It says that Finskiy and Scola could have a 42.9% ownership once the warrants are exercise. I have accounted for all those shares, as identified above. It means that they are not part of the bridge PP. Although, it looks like the 7,142,857 private sale has gone through. I guess it looks like they are currently official shareholders of Century shares, but not as substantial of a commitment as we would like to see at this stage. It would have been much more meaningful if Finskiy and Scola had participated in the bridge equity PP. It would have sent a much stronger message.
There might have been some last minute changes to the bridge PP, hence it is now scattered all over the map.
One other note, it sounds like they only need C$16,000,000 in equity financing instead of the original bank mandate of C$20,000,000.
The prepaid gold sales is now 61,000 ounces over 5 years. It provides US$33,000,000. However, US$10,000,000 will be deposited into a performance reserve account. My guess is that the US$10,000,000 will only be released once Lamaque achieves specific targets during the development period.
It looks like they will be closing $2,000,000 of the FT financing today (by end of October).
They are looking to close off another $2,000,000 FT financing in November, but prior to the major financing close off date.
It doesn't appear as if Finskiy and Scola are participating in the bridge financing.
Finskiy and Scola will be contributing $16,000,000 with a stand by guarantee for another $5,000,000 if additional purchasers are not identified for the $5,000,000. Essentially, if additional buyers (friendly to both Century and the Investor) are not identified then Finskiy and Scola will subscribe to the entire $21,000,000 (105,000,000 shares), otherwise they will stick to the C$16,000,000 (minimum requirement to access the US$33,000,000 bank financing).
It says that Finskiy and Scola could have a 42.9% ownership once the warrants are exercise. I have accounted for all those shares, as identified above. It means that they are not part of the bridge PP. Although, it looks like the 7,142,857 private sale has gone through. I guess it looks like they are currently official shareholders of Century shares, but not as substantial of a commitment as we would like to see at this stage. It would have been much more meaningful if Finskiy and Scola had participated in the bridge equity PP. It would have sent a much stronger message.
There might have been some last minute changes to the bridge PP, hence it is now scattered all over the map.
One other note, it sounds like they only need C$16,000,000 in equity financing instead of the original bank mandate of C$20,000,000.
Circular for meeting is on schedule
Given the mandatory deadline, I was expecting it to be completed at this time and it is. It is already posting on SEDAR. It has to be mailed prior to 21 days before the meeting. The meeting is now 25 days away. The Circular was likely mailed out yesterday or will be mailed out today or will be mailed out Monday, all depending on how long it takes to make thousands of copies and putting the packages together. Also, in my most cases it will go to a clearinghouse before being mailed directly to shareholders.
Thursday, October 29, 2009
My guess is that Century is waiting for TSX-V
I have been looking everyday and the TSX-V hasn't approved for filing at yet (at least they haven't made it public through their daily bulletins).
Perhaps it's taking longer due to added layers of complexity. For example, the bridge PP was announced for FT shares only (no warrants). However, if Finskiy and Scola subsequently joined the PP then their allotment would likely be common shares and warrants, as (being non-Canadians) they likely have little use (if any) for the benefits of FT shares. As such, the TSV-V may require more time to review the documents if the bridge financing now includes FT shares, regular common shares and warrants, and if additional parties are now taking down the PP.
I don't know if this is what Century is waiting for before issuing the NR. It would make sense though, given the large size of the PP. This would also be consistent with the last PP closed off by Century, which was delayed also. However, if you look back it would appear as if Century was waiting for the TSX-V filing also, prior to issuing the close off NR.
Sept 22'09 - TSX-V includes approved for filing note in its daily bulletin with regards to Century's C$1.1M financing.
Sept 22'09 - Century issues NR that C$1.1M financing has been closed off.
You see, the same day, and it was after the targeted date.
It's not always in-sync though. Sometimes Century issues their NR ahead of TSX-V's bulletin note. That could simply be a timing delay between when Century gets verbal notification of approval versus when the info gets published into the TSX-V bulletin. I guess the bottom line is that theoretically a PP cannot truly be closed off without the approval of the TSX-V.
Given the high dollar value of this current bridge financing, it is more than likely that Century is waiting for TSX-V to approve the filing (although there could be other factors behind the delay also).
Perhaps it's taking longer due to added layers of complexity. For example, the bridge PP was announced for FT shares only (no warrants). However, if Finskiy and Scola subsequently joined the PP then their allotment would likely be common shares and warrants, as (being non-Canadians) they likely have little use (if any) for the benefits of FT shares. As such, the TSV-V may require more time to review the documents if the bridge financing now includes FT shares, regular common shares and warrants, and if additional parties are now taking down the PP.
I don't know if this is what Century is waiting for before issuing the NR. It would make sense though, given the large size of the PP. This would also be consistent with the last PP closed off by Century, which was delayed also. However, if you look back it would appear as if Century was waiting for the TSX-V filing also, prior to issuing the close off NR.
Sept 22'09 - TSX-V includes approved for filing note in its daily bulletin with regards to Century's C$1.1M financing.
Sept 22'09 - Century issues NR that C$1.1M financing has been closed off.
You see, the same day, and it was after the targeted date.
It's not always in-sync though. Sometimes Century issues their NR ahead of TSX-V's bulletin note. That could simply be a timing delay between when Century gets verbal notification of approval versus when the info gets published into the TSX-V bulletin. I guess the bottom line is that theoretically a PP cannot truly be closed off without the approval of the TSX-V.
Given the high dollar value of this current bridge financing, it is more than likely that Century is waiting for TSX-V to approve the filing (although there could be other factors behind the delay also).
While we wait for the news
Alexandria Minerals came out with a 43-101 resource count at their Sleepy property this morning, of 150,000 Inferred ounces @ 3.0 g/t.
Their Sleepy property is 4 KMs away from our Sigma II Mine, in Louvicourt, Quebec. Sigma II is 20 - 25 KMs away from Lamaque, well within trucking distance. Placer Dome (trucked/mined) processed about 155,000 ounces (2.67 g/t) at Lamaque/Sigma in the 80s.
The Sigma II deposit is still open at depth. The property is relatively large. There is good mid-term potential for either u/g mining or o/p mining or both from Sigma II. The gold price is now US$1,040 and is expected to go much higher. With this type of gold price it might be quicker and cheaper to continue mining the deposit via o/p (especially since the deposit will likely be 2.67 g/t and likely getting higher as they go deeper).
It looks to be a large property so there is potential to locate new mineralized pits also.
Mining Sigma II via o/p will have none of the challenges we experienced while mining the Sigma o/p in recent years. Sigma II was never previously mined below the pit deposit.
Once the financing closes, Century needs to spend a couple of dollars to perform a preliminary assessment on Sigma II to determine if there is value in aggressively attacking the property. I think the gold price has presented a unique opportunity here.
In this gold environment, Sigma II has the potential to provide solid mill feed to Lamaque over the next few years while we wait on the lower parts of Lamaque to be dewatered.
I will attach a link of a map in the comment area.
Their Sleepy property is 4 KMs away from our Sigma II Mine, in Louvicourt, Quebec. Sigma II is 20 - 25 KMs away from Lamaque, well within trucking distance. Placer Dome (trucked/mined) processed about 155,000 ounces (2.67 g/t) at Lamaque/Sigma in the 80s.
The Sigma II deposit is still open at depth. The property is relatively large. There is good mid-term potential for either u/g mining or o/p mining or both from Sigma II. The gold price is now US$1,040 and is expected to go much higher. With this type of gold price it might be quicker and cheaper to continue mining the deposit via o/p (especially since the deposit will likely be 2.67 g/t and likely getting higher as they go deeper).
It looks to be a large property so there is potential to locate new mineralized pits also.
Mining Sigma II via o/p will have none of the challenges we experienced while mining the Sigma o/p in recent years. Sigma II was never previously mined below the pit deposit.
Once the financing closes, Century needs to spend a couple of dollars to perform a preliminary assessment on Sigma II to determine if there is value in aggressively attacking the property. I think the gold price has presented a unique opportunity here.
In this gold environment, Sigma II has the potential to provide solid mill feed to Lamaque over the next few years while we wait on the lower parts of Lamaque to be dewatered.
I will attach a link of a map in the comment area.
Wednesday, October 28, 2009
Amazing, I saw a US$1,500 per oz hedge deal
A US$1,500 hedge means that there is at least one hedge company willing to bet millions of dollars that the gold price is going well above US1,500 dollars for an extended period of time. This US$1,500 hedge means that someone fully expects to see a sustainable US$2,000 price - they are not betting all this money to just break even.
I know absolutely nothing about this Australian company called Catalpa Resources, but they were able to hedge 352,316 ounces of production for a price around US$1,500. That represents a gross revenue of US$500,000,000 when the ounces get delivered.
I don't think Century's share price will be $.155 per share when Century is producing 145,000 ounces (Lamaque and San Juan combined) @ US$1,500 gross revenue per oz.
Here is part of the article about Catalpa:
Neil Dowling
October 27, 2009 01:00pm
PERTH gold miner Catalpa Resources today announced it planned to pour its first gold in June next year.
In its activity statement for the September quarter, Catalpa says the timetable was based on rapid infrastructure progress at its Edna May gold project near Southern Cross.
It is buoyed by the successful raising of more than $106 million in debt and equity to advance the $92 million Edna May open-pit gold operation to production.
As part of the finance facility, Catalpa says it has sold forward 352,316 ounces of gold at an ``exceptional'' price of A$1557 an ounce.
I know absolutely nothing about this Australian company called Catalpa Resources, but they were able to hedge 352,316 ounces of production for a price around US$1,500. That represents a gross revenue of US$500,000,000 when the ounces get delivered.
I don't think Century's share price will be $.155 per share when Century is producing 145,000 ounces (Lamaque and San Juan combined) @ US$1,500 gross revenue per oz.
Here is part of the article about Catalpa:
Neil Dowling
October 27, 2009 01:00pm
PERTH gold miner Catalpa Resources today announced it planned to pour its first gold in June next year.
In its activity statement for the September quarter, Catalpa says the timetable was based on rapid infrastructure progress at its Edna May gold project near Southern Cross.
It is buoyed by the successful raising of more than $106 million in debt and equity to advance the $92 million Edna May open-pit gold operation to production.
As part of the finance facility, Catalpa says it has sold forward 352,316 ounces of gold at an ``exceptional'' price of A$1557 an ounce.
Tuesday, October 27, 2009
Closing the 5 Million offering
Just a quick note. I have an account at Canaccord, and I regularly participate in offerings at other firms. I usually ask my broker, if they can get me some, and 90% of the time, the answer is yes. So, upon hearing about the Flow Through shares, I figured it was a good deal, and I'd take some down. My brokers desk called Union, to ask for CMM shares, and they were refused. This was just days after the offering was announced, so in my mind, the deal is fully sucscribed.
Pete
Pete
Saturday, October 24, 2009
I wonder who the new Chairman will be
1) Idea for the new Chairman and the new IR person:
“Upon closing, the Investor will be entitled to nominate three members to Century's Board, and an independent non-executive chairman will be named.”
Hopefully they appoint someone that is well respected in the investment community (and maybe with some connections), especially with institutions.
I would like to see the new Chairman (once appointed) and the new IR person (once hired) to set up meetings with various institutional investors / fund managers to present Finksiy’s and Scola’s vision for the new Century Mining. I would like one of the meetings to be with Sprott Asset Management (if Sprott is receptive to a meeting). It would be nice to get John Embry (of Sprott) on side again. I think he knows that Lamaque can be a good investment in a gold bull market, once cashed up and with leaders he is comfortable with (assuming he warms up to the new Chairman, as well as to Finskiy and Scola).
2) John Embry’s successful experience with Lamaque during last bull market:
As mentioned in a pervious post, John Embry made a lot of money with Lamaque during the last gold bull market frenzy (late 70s – early 80s). Sigma Mines (which mined the Sigma u/g back then – Sigma u/g is now part of the Lamaque Complex), went from $.30 per share to $3.00, then from $3.00 to $36.00, and then eventually peaked at $57.00 per share. I heard John Embry state that he was invested in Sigma Mines from $3.00 all the way up to $20.00.
We’re not going to see $57.00 per share this time around for Sigma Mines / Century Mining, but I’m sure even John Embry realizes that there is potential here for a significantly appreciated share price relative to today’s price, especially once the company is cashed up and with new figureheads (with deep pockets) in place.
By the way, I will post a link in the comment area of a report I read back in 2005, prepared by Doug Casey. On page 7 and 8 of that report it shows the share prices of key junior companies during the time periods of Dec. 1978 to late 1980, during the last gold bull market. For Sigma Mines, it only captures the $36.00 to $57.00 per share period. For Carolin Mines (as I previously posted about also), it showed the climb from $3.10 to $57.00. A few of the other companies/mines on the list will be recognizable, but many will not be also.
3) Growth Strategy idea for Finskiy and Scola:
Also, I wonder what strategy Finskiy and Scola will employ to grow the business, once we reach that stage. Finskiy is the CEO for Intergeo Managing Company, the mining and exploration arm of Onexim Group, which is Russia's largest investment fund with $25 billion in assets. As we know, Prokhorov (currently Russia’s wealthiest person) is the driving force behind Onexim. I believe Prokhorov and Finskiy are close business associates.
Once Century’s share price is high enough, and the time is right, I would like to see a growth strategy that includes a partnership with Intergeo/Onexim, where both companies can benefit. The strategy can focus around Century merging with distressed companies with good assets (in need of financing). As part of the merger, Century can set up non-recourse financing with Intergeo/Onexim to either roll over current debt obligations from the new company or provide project financing for mine development projects (from the new company). It is something that will be attractive to shareholders of any company in distress. Also, these are situations where we can utilize Peggy’s best skills (in complex deal making roles, especially ones involving managing or rolling over debt). Intergeo/Onexim will benefit also because (as a financing partner) we can provide them with a very good interest rate on their non-recourse financing. This should be attractive since global interest rates are expected to stay relatively low for a number of years into the future (the global rates might increase but we are not going to see sky high rates until the unemployment rates have decreased by quite a bit, which typically doesn’t happen overnight).
“Fran Scola is a partner at LFM Partners, a partnership with extensive investments in the natural resources sector.” I don’t know much about LFM Partners, but hopefully Century can create a financing partnership with them also.
“Upon closing, the Investor will be entitled to nominate three members to Century's Board, and an independent non-executive chairman will be named.”
Hopefully they appoint someone that is well respected in the investment community (and maybe with some connections), especially with institutions.
I would like to see the new Chairman (once appointed) and the new IR person (once hired) to set up meetings with various institutional investors / fund managers to present Finksiy’s and Scola’s vision for the new Century Mining. I would like one of the meetings to be with Sprott Asset Management (if Sprott is receptive to a meeting). It would be nice to get John Embry (of Sprott) on side again. I think he knows that Lamaque can be a good investment in a gold bull market, once cashed up and with leaders he is comfortable with (assuming he warms up to the new Chairman, as well as to Finskiy and Scola).
2) John Embry’s successful experience with Lamaque during last bull market:
As mentioned in a pervious post, John Embry made a lot of money with Lamaque during the last gold bull market frenzy (late 70s – early 80s). Sigma Mines (which mined the Sigma u/g back then – Sigma u/g is now part of the Lamaque Complex), went from $.30 per share to $3.00, then from $3.00 to $36.00, and then eventually peaked at $57.00 per share. I heard John Embry state that he was invested in Sigma Mines from $3.00 all the way up to $20.00.
We’re not going to see $57.00 per share this time around for Sigma Mines / Century Mining, but I’m sure even John Embry realizes that there is potential here for a significantly appreciated share price relative to today’s price, especially once the company is cashed up and with new figureheads (with deep pockets) in place.
By the way, I will post a link in the comment area of a report I read back in 2005, prepared by Doug Casey. On page 7 and 8 of that report it shows the share prices of key junior companies during the time periods of Dec. 1978 to late 1980, during the last gold bull market. For Sigma Mines, it only captures the $36.00 to $57.00 per share period. For Carolin Mines (as I previously posted about also), it showed the climb from $3.10 to $57.00. A few of the other companies/mines on the list will be recognizable, but many will not be also.
3) Growth Strategy idea for Finskiy and Scola:
Also, I wonder what strategy Finskiy and Scola will employ to grow the business, once we reach that stage. Finskiy is the CEO for Intergeo Managing Company, the mining and exploration arm of Onexim Group, which is Russia's largest investment fund with $25 billion in assets. As we know, Prokhorov (currently Russia’s wealthiest person) is the driving force behind Onexim. I believe Prokhorov and Finskiy are close business associates.
Once Century’s share price is high enough, and the time is right, I would like to see a growth strategy that includes a partnership with Intergeo/Onexim, where both companies can benefit. The strategy can focus around Century merging with distressed companies with good assets (in need of financing). As part of the merger, Century can set up non-recourse financing with Intergeo/Onexim to either roll over current debt obligations from the new company or provide project financing for mine development projects (from the new company). It is something that will be attractive to shareholders of any company in distress. Also, these are situations where we can utilize Peggy’s best skills (in complex deal making roles, especially ones involving managing or rolling over debt). Intergeo/Onexim will benefit also because (as a financing partner) we can provide them with a very good interest rate on their non-recourse financing. This should be attractive since global interest rates are expected to stay relatively low for a number of years into the future (the global rates might increase but we are not going to see sky high rates until the unemployment rates have decreased by quite a bit, which typically doesn’t happen overnight).
“Fran Scola is a partner at LFM Partners, a partnership with extensive investments in the natural resources sector.” I don’t know much about LFM Partners, but hopefully Century can create a financing partnership with them also.
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