I am writing this article today as Century Mining sites at about .20 . It trades on the Vancouver Stock Exchange under the symbol CMM.
They are about to restart their Lamaque mine in Québec when their $ 65 million dollar financing is announced, which is expected in a news release within weeks.
On May 22, 2009, a news release reported, “Century is currently in receipt of a US$ 65 million financing underwriting commitment. Once a financing is closed it is expected that the first gold will be poured within 4 months of start-up.”
After the Bre-X fraud, a 43-101 was instituted. It essentially puts to paper in a detailed report what size of mineral quantity your property has. Bre-X had wild claims of 200 million ounces of gold in a foreign country. Back then there was pretty much no serious accountability for these numbers. Investors bid Bre-X from pennies to as high as $ 280.00 an it split 10 to 1. People made and lost fortunes trading Bre-X. This isn’t a Bre-X flashback, it’s a little history as to why the 43-101 was started and it’s importance today.
Century did their NI43-101 back in 2008 proving over one million ounces of gold to exist on their Quebec property, which had already produced over nine million ounces previously.
Then of course we had a market meltdown and everything crashed. Now, it’s May 2009 and Century Mining is on the verge of restarting an already successful mine, with enough gold to mine for many years.
When the financing is announced, they will be drilling within weeks. And drilling in mining friendly Canada, with their 43-101 in hand for any investor to research.
I say mining friendly Canada on purpose. On the morning of May 27, 2009 Canada’s Uranium One (UUU.TO) traded over ten million shares, and watched the share price drop 30% based on possible illegal claims being sold in Kazakhstan, one of the world’s biggest uranium producers. Buyer beware yes, but you still have to feel for the shareholders.
As you know I can not post links to help with your research, but I highly suggest you look at Century’s website and also visit the Stockhouse message boards. Stockhouse has some very savvy investors sharing their Century research.
Canada’s Century Mining Corporation (CMM.V), like Orex Exploration Inc. (OX.V) are both on the verge of really great things in Canada’s mining sector.
Mike Perras manages the Canadian Stock Alerts blog. While these alerts are never meant as a recommendation to buy a particular stock, they are nonetheless a heads up or an alert to a certain potential positive trend.