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Gold/Mining/Energy : Century Mining Corporation
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From: John McCarthy5/21/2006 2:34:59 PM
   of 545
 
CMM 2006 Cash and Debt

1st Quarter Balance Sheet
shows Debt as follows:

2006 Debt
Canadian
(millions)
------------------------------------
(1) $4.3 Cur Port of Lng Term
(2) $12.3 Long Term Notes
(3) $2.3 Asset Retirement
------------------------------------
$19.0 Total Debt (rounding)
====================================

(I don't know what Asset Retirment is but I will treat
it as some kind of Long Term Debt w/o an interest
payment THAT IS DUE TO BE PAID THIS YEAR)

2006 Cash
Canadian
(millions)
------------------------------------
(1) $2.0 Qtr-1 2006
(2) $25.0 Equity financing
(3) $15.0 (Apl - Dec) my projection (see post)
------------------------------------
$42.0 Cash on Hand
====================================

2006 Debt Retirement
Canadian
(millions)
------------------------------------
$4.3 Pay down Curr Port Long term debt
$2.3 Pay down Asset Retirement
------------------------------------
$6.6 Total Debt Paydowns
====================================

2006 Cash after Debt Retirment
Canadian
(millions)
------------------------------------
(1) $42.0 Cash

Less:
(2) $6.6 Debt Paydowns
------------------------------------
$35.4 Net Remaining Cash
=====================================

The HEART of the MATTER:

Lets say Peru mine costs $12.0 million
and Cash Expenditures are as follows:

Peru Mine Captial Expenditures
Canadian
(millions)
------------------------------------
$4.0 2006
$8.0 2007
------------------------------------
$12.0 Total Peru Capital Expenditures
====================================

Lets also estimate
2006 Peru Exploration Costs:

Peru 2006 Exploration Costs
Canadian
(millions)
------------------------------------
$2.0
====================================

2006 Cash after
Capital Expensitures/Exploration Costs
Canadian
(millions)
------------------------------------
$35.4 Cash (from above)

Less:
$4.0 Peru Capital Expenditures
$2.0 Peru Exploration Costs
---------------------------------------
$29.4 Net Cash after Cap Exp and Exploration
====================================

My question is:
Whats up with the $29.0 million?

regards,
John

EDIT
2006 Qtrly Cash Flows:
Message 22471129

You can argue that we could ALSO paydown this
guy:
(2) $12.3 Long Term Notes

but why not pay down $4.0 million each year out of
future years Cash flows?
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