Lundin says buy Century for Kent's audacity
Century Mining Corp (C:CMM)
Shares Issued 87,237,353
Last Close 4/28/2006 $1.49
Friday April 28 2006 - In the News
In the April, 2006, edition of the Gold Newsletter, Brien Lundin says buy Century Mining Corp., a junior mining company directed by stock promoter Margaret "Peggy" Kent. Mr. Lundin has never before recommended Century Mining, now trading at $1.47. For those who do not remember Ms. Kent, Mr. Lundin provides a little primer. (For those who do remember, it is a little incomplete.)In the 1994, her company, Royal Oak Mines Inc. launched a gutsy bid for the much-bigger Lac Minerals Ltd. Barrick Gold Corp. outbid her for Lac, and Royal Oak was squeezed out of business due to falling gold prices. Now Ms. Kent is back, using her new company to buy up the Sigma-Lamaque mining complex in Quebec for $25.9-million. Over its life, Sigma-Lamaque produced 9.2 million ounces of gold along the Abitibi gold belt. Century plans to bring the underground resources at the adjacent Lamaque mine back on-line. So far, Ms. Kent's plan to cut high cash costs at the mine is proving effective. Production is on pace to generate 90,000 ounces of gold in 2006 at a cash cost of $235 (U.S.). The company also plans to overhaul the No. 2 shaft at the Lamaque mine. Mr. Lundin says that if everything goes well, Lamaque could contribute 10,000 ounces of gold this year. Fellow newsletter writer Jay Taylor was once a follower of Century, buying in at 38 U.S. cents on Oct. 21, 2004. He said sell at 32 U.S. cents in Feb. 14, 2006, citing "management concerns." He did not specify which part of management concerned him.
© 2006 Canjex Publishing Ltd.
tanoose.............ok JT give us another sell signal will yah??..............;-)) |
