$$ Century Mining. Die Goldchance ! $$
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http://www.stockhouse.com/news/news.asp?newsid=5048732&tick=CMM
Century Mining Achieves Fourth Quarter Net Income of C$2.6 Million and Records First Annual Net Income of C$1.3 Million in 2006
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BLAINE, WASHINGTON--(CCNMatthews - April 19, 2007) - Century Mining Corporation (TSX VENTURE:CMM - News) announced that it has received an updated Certificate of Authorization from the Quebec Ministry of Environment for the Lamaque underground project, and will begin mining operations immediately. The Company has also satisfied the requirements of the Quebec CSST (Quebec Health and Safety Regulatory Authority).
ADVERTISEMENT
With the receipt of this permit, the Company will begin mining and transporting up to 400 tonnes of ore per day to the Sigma mill. Furthermore, the permit allows the construction of a haulage drift from the Lamaque underground into the Sigma pit at approximately 250 feet from the surface. This will facilitate efficient transport of ore from the upper levels of the Lamaque mine and allow the ore to be stockpiled in the Sigma pit where it will be picked up by larger trucks and hauled to the mill.
As previously announced, the Company has hired a crew of miners, geologists, and engineers for the Lamaque underground program and has procured necessary equipment and materials to begin the program.
Since late 2006, Century has drilled, sampled and defined underground resources and ore blocks, including an extensive sampling program of the available structures. As a result, an initial 11,000 tonnes of ore grading over 15 g/t has been identified, sampled and blocked out for mining at the Lamaque underground. These ore blocks, which are expected to contain over 7,500 ounces of gold, will be the initial targets for extraction.
Rehabilitation work associated with the main accesses and secondary means of egress have been completed and ground conditions encountered continue to be very favorable. The gold-bearing veins encountered to date underground are narrow vein flat laying structures, typically ranging in width from several inches to 2-3 feet, with significant assayed gold values returned from many samples and the presence of visible free gold occurring in a number of veins.
The Sigma-Lamaque underground has NI 43-101 compliant resources as follows: Measured 772,000 tonnes at a grade of 5.4 g/t Au, Indicated 3,151,000 tonnes at a grade of 4.91 g/t Au for a total contained 630,000 ounces of gold in Measured and Indicated. In addition a further 10,101,000 tonnes is carried in the inferred category at a grade of 5.21 g/t Au containing 1.7 million ounces of gold. (Ref. CAM report, Sigma Lamaque Complex, November 29, 2005 which is available on www.sedar.com).
Century's results herein described have been prepared under the guidance of Mr. Ross F. Burns, P.Geo., LG, Vice President of Exploration, who is designated as a Qualified Person with the ability and authority to verify the authenticity and validity of the data.
Margaret Kent, President & CEO, commented: "We are very excited to be able to begin mining underground at Lamaque. This project represents another step forward in Century's strategy to establish itself as a formidable mid-tier gold producer. To this point in Century's development, the Sigma Lamaque Complex has been instrumental, providing six consecutive quarters of positive cash flow and contributing to an annual net profit for the Company in 2006. With the opening of the Lamaque underground, we look forward to even more positive operational and financial results, through which we may continue to grow the Company."
Conference call
Management will host a conference call on Friday, April 20 at 11:00 a.m. Pacific time (2:00 p.m. Eastern time) to discuss 2006 results and future developments at its operations in Quebec and Peru. Mining analysts, investors and the media are invited to phone 1-888-809-8974, or 1-210-234-0008 if outside Canada and the U.S.A., followed by the pass code 18290 approximately 5 minutes before the start of management's presentation. The presentation will be followed by a question and answer period.
A replay of the conference call can be heard through Friday, April 27 by dialing 1-888-562-2923, or from outside North America 1-203-369-3750.
About Century Mining Corporation
Century Mining Corporation is an emerging mid-tier gold producer that is aggressively acquiring producing mines and exploration properties in Peru. The Company owns and produces gold at the Sigma and Lamaque mines in Quebec that historically have produced over 9.4 million ounces of gold. In Peru, Century owns an 82.6% interest in the San Juan Mine where the Company accounts for 100% of gold production. Century's growth strategy is to acquire gold producing assets in South America that will substantially reduce the Company's consolidated total cash cost of production and where there is exceptional exploration potential to expand production at these mines.
Margaret M. Kent, Chairman, President & CEO
Caution Concerning Forward-Looking Information
This press release contains forward-looking information within the meaning of applicable securities laws. We use words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward-looking information. It is based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and accordingly, readers should not place undue reliance on those statements. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in gold and other resource prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our South American activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com.
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Macht eigentlich keinen Sinn....und es wird auch fleißig eingesammelt. Mein Ek liegt bei 0,40, dementsprechend bin ich noch entspannt. Wenn das allerginds so weiter geht, dann .... naja...schaun mer mal.
Lg
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Date05/07/2007 §
Time§06:39:43 AM
Company§ CENTURY MINING CORPORATION
Title§Century Mining to Purchase Operating Mine in Peru and Announces Private
Placement
CDNX Symbol: CMM
Press Release
NEWS RELEASE TRANSMITTED BY CCNMATTHEWS
FOR: Century Mining Corporation
TSX VENTURE SYMBOL: CMM
May 7, 2007
Century Mining to Purchase Operating Mine in Peru and Announces Private
Placement
Management Likes Resource Expansion Prospects at Mina Rosario de Belen
BLAINE, WASHINGTON--(CCNMatthews - May 7, 2007) - Century Mining Corporation
(TSX VENTURE:CMM) announces that it has signed an agreement to purchase Mina
Rosario de Belen, an operating gold and silver mine located in northern Peru.
Mina Rosario de Belen is owned by a Peruvian family, and is located near the
town of Patival in the Angasmarca district of the state of La Libertad. The
property is in the same mining belt that includes the Lagunas Norte Mine and
the Yanacocha Mine, which are among the world's largest gold mines. The mine
property is approximately 12,471 hectares, adjacent to and directly to the
south of the operating Santa Rosa Gold Mine.
Mina Rosario de Belen began operations in February of this year as an open-pit
heap leach mine with an initial and expandable ore processing capacity of 5,000
tonnes per day. The mine and processing plant, still in the start-up phase, are
currently operating at a rate of 2,000 tonnes of ore per day. The processing
plant includes both a zinc precipitation circuit and a new carbon absorption
circuit. Mina Rosario de Belen is equipped with leach-pad capacity for
10-million tonnes and a Merrill-Crowe zinc precipitation circuit, which
currently operates at 530 gallons per minute. Power is currently generated
on-site, with plans to connect to the national power grid in the second quarter
of 2007.
Current start-up monthly production, on one 8-hour shift per day, 5 days per
week, is 650 ounces of gold and 6,500 ounces of silver. Century management
believes that the mine's production can be increased to approximately 25,000 to
30,000 gold-equivalent ounces per year. Gold equivalents are calculated using a
US$600/oz gold price and US$10/oz silver price. Cash costs of production are
reported to be in the US$250-$300/oz range during the current start-up phase. A
feasibility study has not been completed by Century and the estimate provided
by the previous owners should not be relied upon.
The deposit has a reported historical resource of 18 million tonnes of ore
grading 0.9 grams of gold equivalent per tonne or approximately 500,000 ounces
of gold. This resource was calculated by the previous owner in 2001, however an
NI 43-101-qualified report has not been completed on the deposit and the
historical resource should not be relied on.
The deposit is open along strike and is amenable to modern exploration
techniques. Based on the site visit and review of the owner's drill data,
trench sampling and geological maps and reports by Century's Qualified Person,
Dan Brost, Manager of Resource Geology, Century's geological team plans to
conduct a resource definition program to confirm the reported 18 million tonnes
grading 0.9 g/t gold equivalent. The above quantity and grade estimates are
Century's only, and there has been insufficient drilling to date to define a NI
43-101 compliant measured mineral resource.
The resource is associated with an intrusive sub-volcanic unit that has cut
across the sedimentary rocks of the Chimu Formation. The Chimu Formation hosts
the nearby Santa Rosa gold deposit, which is currently producing 140,000
gold-equivalent ounces per year, and is also host to world-class gold deposits
including Lagunas Norte, which is producing 1.1 million ounces of gold per
year, and Yanacocha, which is producing 2.6 million ounces of gold per year.
The resource and geological setting are characteristic for this district, in
that the resource is silver-rich and most of the mineralization is hosted in
the oxidized intrusive unit. The exploration model (sandstone-hosted
gold-silver) of the district could be applied to the area around the Patival
land concessions with reasonable prospects for further discovery.
Given Rosario de Belen's favorable geologic setting and its location adjacent
to Santa Rosa, along a recognized trend that includes other large mines, the
area is considered to be very prospective and could potentially host another
Santa Rosa-type deposit.
Century has agreed to issue one million Century shares to the sellers as
consideration for the purchase. Terms of the deal include a total purchase
price of US$20.5 million in cash, to be paid in installments of US$3.25 million
on closing in 45 days, US$3.25 million six months after closing, and US$13
million 12 months after closing, along with 500,000 shares of Century. Century
has also agreed to pay a 1.5% NSR royalty to the sellers. Century expects to
close the transaction in 45 days. The transaction is subject to the
finalization of all documentation and approval of the TSX Venture Exchange.
The Company also announced a non-brokered private placement of units raising up
to C$12 million. Each unit is priced at $0.89 and consists of one share plus
one-quarter share purchase warrant exercisable at $1.17 for a period of 24
months. After 12 months the warrants will become exercisable within 20 days if
the 20-day weighted average closing share price exceeds $1.25. The shares will
be subject to restrictions on resale for four months. A large portion of the
placement will be taken down by a significant European mining group.
No finder's fee or brokers warrants will be paid.
Proceeds of the unit offering will be used for the acquisition of Mina Rosario
de Belen, mining equipment, capital requirements at the San Juan Gold Mine and
other general corporate working capital purposes.
Margaret Kent, President & CEO, said, "We are very excited to announce another
quality acquisition in Peru. Rosario de Belen will not only add immediate
ounces to Century's production profile, but will also provide significant
exploration potential, and the Company plans to aggressively increase resources
here. This acquisition is consistent with the Company's policy of finding and
financing producing but undervalued gold mines on terms that can increase
shareholder value."
About Century Mining Corporation
Century Mining Corporation is an emerging mid-tier gold producer that is
aggressively acquiring producing mines and exploration properties in Peru. The
Company owns and produces gold at the Sigma and Lamaque mines in Quebec that
historically have produced over 9.4 million ounces of gold. In Peru, Century
owns an 82.6% interest in the San Juan Mine where the Company accounts for 100%
of gold production. Century's growth strategy is to acquire gold-producing
assets in South America that will substantially reduce the Company's
consolidated total cash cost of production and where there is exceptional
exploration potential to expand production at these mines.
Margaret M. Kent, Chairman, President & CEO
Caution Concerning Forward-Looking Information
This press release contains forward-looking information within the meaning of
applicable securities laws. We use words such as "may", "will", "should",
"anticipate", "plan", "expect", "believe", "estimate" and similar terminology
to identify forward-looking information. It is based on assumptions, estimates,
opinions and analysis made by management in light of its experience, current
conditions and its expectations of future developments as well as other factors
which it believes to be reasonable and relevant. Forward-looking information
involves known and unknown risks, uncertainties and other factors that may
cause our actual results to differ materially from those expressed or implied
in the forward-looking statements and accordingly, readers should not place
undue reliance on those statements. Risks and uncertainties that may cause
actual results to vary include but are not limited to the speculative nature of
mineral exploration and development, including the uncertainty of reserve and
resource estimates; operational and technical difficulties; the availability to
the Company of suitable financing alternatives; fluctuations in gold and other
resource prices; changes to and compliance with applicable laws and
regulations, including environmental laws and obtaining requisite permits;
political, economic and other risks arising from our South American activities;
fluctuations in foreign exchange rates; as well as other risks and
uncertainties which are more fully described in our annual and quarterly
Management's Discussion and Analysis and in other filings made by us with
Canadian securities regulatory authorities and available at www.sedar.com.
- 30 -
FOR FURTHER INFORMATION PLEASE CONTACT:
Century Mining Corporation
Brent Jones
Manager of Investor Relations
1-877-284-6535 or (360) 332-4653
Fax: (360) 332-4652
Email: bjones@centurymining.com
Website: www.centurymining.com
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or accuracy of the contents of this press release.
INDUSTRY: Manufacturing and Production - Mining and Metals
SUBJECT: STK - STOCK/OTHER MARKET NEWS
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Date05/03/2007 §
Time§03:56:42 PM
Company§ Century Mining Corporation
Title Short§
Positions on 2007/04/30 135,000 11
CDNX Symbol: CMM
Press Release
CENTURY MINING CORP ("CMM-V")
- Short Positions on 2007/04/30 135,000 117,000 0.91
//st
Net Total Last Total Price
Date Change Shorted Price Volume Range
--------------------------------------------------
2007/04/30 117,000 135,000 0.91 - - - -
2007/04/15 18,000 18,000 0.99* - - - -
2007/03/31 0 0 0.95* - - - -
2007/03/15 -101,700 0 0.85 - - - -
2007/02/28 3,700 101,700 0.66 - - - -
2007/02/15 97,500 98,000 0.67 - - - -
2007/01/31 500 500 0.55 - - - -
2007/01/15 0 0 0.65 - - - -
* - Indicates that the closing price used is the last non-zero
closing price and is not the closing price on the report date.
//et
__________________________________________________
(c)2007 Market News Publishing Inc. All rights reserved.
Toronto:(416)366-8881 Vancouver:(604)689-1101 Fax:(604)689-1106
MarketByFax - News As It Happens - (800)667-1617
20070430SHO+468+001311
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Wega Mining ASA ("Wega Mining") (OSLO:WEMI) and Century Mining Corporation ("Century") (TSX VENTURE:CMM) jointly announced today that Wega Mining has made an equity investment of $12,000,000 in the Canadian listed company Century Mining Corporation. Under the terms of the transaction, Wega Mining acquired 13,483,146 units at a purchase price of $0.89 per unit. Each unit consists of one common share and one quarter of one common share purchase warrant. The share purchase warrants will entitle the holder to acquire one Century common share at a price of $1.17 per share at any time on or before May 10, 2009.
In accordance with TSX Venture Exchange regulations, the issued shares are subject to a four month hold period. Resale of the shares is restricted until September 10, 2007.
After the transaction, Wega Mining owns 19,301,646 shares in Century, representing 14.1% of the issued and outstanding Century common shares. Upon exercise of the warrants, Wega Mining would own 22,672,322 common shares, representing 14.4% on a fully diluted basis.
During a period beginning May 10, 2008 and ending at the warrants' expiry date, Century may require the warrant holder to exercise its warrants, provided the value of Century shares exceed CAD 1.25 for 20 consecutive trading days.
Wega Mining has acquired the Century securities for investment purposes. Wega Mining's investment will be reviewed on a continuing basis and its holdings may be increased or decreased in the future.
The companies have also agreed that, until May 10, 2009, Wega Mining will not increase its direct and indirect share of outstanding shares in Century above 19.9% without the approval of the Board of Directors of Century.
Lars Marius Furu, CEO of Wega Mining said: "We are pleased to make this arrangement with Century Mining. Century's current operations are making good progress and there is considerable value to unlock. We are also excited about the company's growth opportunities in Peru, for which the main proceeds from this placement will be used."
Margaret Kent, President and CEO of Century Mining, said, "We are pleased to have Wega Mining as a significant shareholder. The relationship will give Century increased exposure to the European mining community, new institutional investors and sources of capital to increase shareholder value. We also plan to visit Norway for a road show in June as part of the company's ongoing investor relations activities.
Wega Mining ASA is an Oslo-based international mining company focused on exploring, developing and operating gold, copper and zinc deposits. The company currently holds exploration licenses in Guinea, Canada, Portugal, Ecuador, Romania and Norway, and a gold-copper development project in Canada. It trades on Oslo Axess, an exchange regulated by the Oslo Stock Exchange, under the ticker WEMI. Further information can be accessed at www.wegamining.com.
Century Mining Corporation is an emerging mid-tier Canadian gold producer formed in 2003. The company forecasts 100,000 ounces of gold production in 2007 at a cash cost of US$370 per ounce, including 86,000 ounces from its Sigma and Lamaque Mines in Quebec and 14,000 ounces from its Peru operation. Century's corporate strategy is to acquire and develop properties with previously discovered and undervalued mineral assets into operating mines. Further information can be accessed at www.centurymining.com.
SOURCE: Century Mining Corporation
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Century (evtl. rd. +100% Potenzial)
http://www.ariva.de/quote/profile.m?secu=911011&kx=s
Vedron (evtl. rd. +200% Potenzial)
http://www.ariva.de/quote/profile.m?secu=207780&kx=s
Finavera (evtl. rd. +500% Potenzial)
http://www.ariva.de/quote/profile.m?secu=100097311&kx=s
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Century Acquires Control of Shahuindo Project and Surrounding Property in Peru
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Besitzer von Zinspapieren schlafen gut; Aktienbesitzer dagegen leben gut
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Hoffentlich bleibt das Interesse in Deutschland gering, dann können die Kanadier das für uns machen, die gehen da Ganze ruhiger an. ;)
Warten wir mal ab, was Century in 2 jahren so treibt. Bei unveränderter fundamentaler Lage werde ich meine Anteile nicht verkaufen. Beachtlich finde ich aussder, dass Century sich unter der Bedingung, dass der Goldpreis doch ein Stückchen nachgegeben hat, prima hält.
Ich bin optimistisch.
Lg
TSX Venture
Aktuell
1,00 CAD
Zeit
24.05.07 18:20
Diff. Vortag
+0,00 %
Tages-Vol.
365.942,00
Gehandelte Stück
369.500
Geld
0,97
Brief
0,99
Zeit
24.05.07 18:47
Spread
2,02%
Geld Stk.
698
Brief Stk.
100
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Daily News Tuesday, May 22, 2007
Update: Century revives battle for Sulliden property
Century Mining's (CMM-V) Margaret Kent believes her company will build a gold mine at the contentious Shahuindo property in
Peru, but Century will have to win a long-festering court battle against concession holder Sulliden Exploration (SUE-T) to do it.
Sulliden president and CEO John Kearney says he was shocked to learn of Century's plans for Shahuindo, about 70 km south of
Newmont Mining's Yanacocha gold mine.
"I'm very surprised that a Canadian company would get itself involved in an extremely complex and hostile litigation," Kearney says.
Sulliden purchased the property in 2002 from Compania Minera Algamarca S.A. for US$4.13 million but when an outside party bought
Algamarca soon after, the company launched a suit declaring the contract for the property transfer was invalid.
Century has purchased Algamarca and three other companies that together claim ownership of Shahuindo for US$31 million. The price
was based on Sulliden's market capitalization and will be financed over two years.
Kent says Century wants to focus on properties in Peru. She says Shahuindo is a world-class property that's worth the trouble.
Before making the purchase, Century hired legal council in Peru and financial advisors in Toronto to go over the case that was last ruled
in Sulliden's favour.
In a three-year battle that ended last July, a Peruvian arbitration tribunal declared Sulliden had fully met the terms and obligations of a
2002 transfer agreement with Algamarca.
At the same time, the 55th Civil Court in Lima ordered Algamarca, or any third party that could have acquired rights from Algamarca, to
return the property to Sulliden. Algamarca is also prohibited from impeding Sulliden in its mining activities. Algamarca is appealing the
ruling.
Kent says the their analysis led Century to its purchase decision.
"We thought, 'Wow, we don't think Sulliden's going to win this litigation and if they do, it's going to be 10 years from now,'" Kent says.
"We came to the conclusion that if we wanted Shahuindo at this point in time, the deal to do was to buy Algamarca, not Sulliden."
Century already has big plans for the property - the company wants to produce 125,000 to 150,000 oz. gold per year by the fourth
quarter of 2009.
As of 2005, Shahuindo had an indicated resource of 38 million tonnes grading 0.95 gram gold per tonne and 22.99 grams silver and an
inferred resource of 0.62 gram gold per tonne and 12.83 grams silver.
Kearney says Sulliden has spent "millions" on litigation but the company isn't ready to give up the fight yet.
"It's not us that keeps going to court ... the Algamarca shareholders approved it, the money was paid and we've conducted two major
drilling programs," Kearney says. "You can't wipe all that out."
Algamarca applied for a mining permit for the property in the fall of 2006 but was rejected by the Ministry of Energy and Mines.
The selling companies will continue to manage the litigation and Century can walk away from the project at anytime.
But Kent hinted that while Century's intention is to prevail through the courts, the company is also open to reaching an agreement with
Sulliden.
"All they have done for their shareholders is sit in court. Why didn't they go settle it?" Kent asks. "My phone lines are open."
The case needs to be heard by three judges who have had nothing to do with the case before, which both Kent and Kearney say is
proving difficult.
Quelle: http://www.centurymining.com/investors/pdf/070522NorthernMiner.pdf
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2007-05-28 10:12 ET - News Release
Ms. Margaret Kent reports
CENTURY MINING SUBMITS FORM 40-F TO SEC TO REGISTER SHARES IN U.S.
Century Mining Corp., by filing Form 40-F, has completed the registration of its common shares with the United States Securities and Exchange Commission, 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.
As a foreign private issuer, Century has access to U.S. equity markets under the Multijurisdictional Disclosure System, 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 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 chief executive officer, 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."
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