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Gold/Mining/Energy : Century Mining Corporation
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From: HotnSpicy8/18/2006 2:30:32 AM
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The Q2 report was stunning.

Well, perhaps "stunning" is the wrong word to describe it.

Remember, just a week ago they reiterated guidance (for the umpteenth time):

"August 8, 2006



CENTURY MINING TAKES STEPS TO MEET 2006 PRODUCTION TARGET AT SIGMA-LAMAQUE

"The new haulage equipment is expected to make a significant improvement in pit output, which together with the advancement of development at Lamaque should allow us to meet our 2006 production targets of 90,000 ounces of gold at Sigma and 5,000 ounces at Lamaque....Our disciplined approach to containing capital costs on the front end of this project while achieving the project schedule and remediation targets should ensure that we meet our production target this year."

About Century Mining Corporation

The Company forecasts gold production of 100,000 ounces of gold at a cash cost of US$325 to US$350 an ounce from its Sigma, Lamaque and San Juan mines in 2006. "

I find it almost inconceivable that Peggy didn't know the full extent of the problems a week ago. What led to the drastic lowering of guidance just a week after the above PR? Threats of lawsuits?

Makes me wonder about the audacity to put out the August 8 PR and then revise guidance so drastically a week later. Is Peggy schizophrenic? Delusional? I simply have never seen such an about face before without some external event precipitating events.

And to give less than 24 hr notice for a CC is an eye opener as well.

Something is rotten in Denmark....
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