report from the Toronto Resource Conference as follows;
as per todays discussions and also what Highhair has been so kind to post, we should be hearing news regarding exploration updates for Peru possibly as early as tomorrow and being followed by drilling news shortly afterwards??
as per the share price, well of course they are just as frustrated as we shareholders are, of course they also feel that we have come down a little further than others with the malaise affecting the over all market??
i asked if news would continuously flow for this drill program or will it only come out upon completion, GE believes they will issue it as it is on-going, so this could help generate interest for us I'm sure??
the drill program will be focused on the San Juan Mine proper, and if i understood Ross properly it is Veta Clara that extends off of the mine, and it is this target that they will use to up resources into reserve status and to bring up the past reports into NI43-101 compliancy??............keep in mind only two veins have been mined here and there are a total of at least 35 visible vein structures,"as well as a few others discovered" now the thinking goes along the lines of since inception the two mined veins have produced over million oz's, so since a few of the un-mined veins have similar strike length and depth as the other two, there should be no problem with having similar success??....................the mine and mill facility will need a good deal of retro fitting as the previous operators as we know have not put any cash into this complex in years??
Century people have high confidence in increasing mineable ounces at the San Juan complex??
they are also very excited about Santa Clarita and Erika as well, they want to get at these two especially??
we should know their plans within a day or so??
there will also be some exploration work on Colina Dorado before the year is out, so Peru will be it for generating any kind of news and hopefully some momentum once again for our share price??
the bulk sample for Lamaque is on going, they would not give a time frame as to when they will be able to say that Lamaque is actually a mine once again??..........the ounces of course being targeted from this bulk sample is around 5,000 oz's so they should have a 25,000 t bulk sample to deal with, the ore blocks for this are located in the upper levels of the Lamaque Mine, the costs involved with this bulk sample will be capitalized in a similar fashion as was done with Sigma, and i believe also with the Pine Point Mine, although with the PP bulk sample it is much larger and also a different mineral, but if i recall correctly they should generate enough cash from the PP bulk sample to cover a lot of their costs??..............the same should apply to Lamaque??........if they can get $550.00/oz for the Lamaque bulk sample that equates to $2,750,000, just adding my two bits on Lamaque here??.............they have clear access to the 1500 foot level, from there on it is under water so as they plan to go deeper they will have to implement a pumping program and a retrofitting program as each level is accessed??.............Al Gorman will now be able to focus on the underground aspect of Lamaque as this is his forte, they have hired a manager for the whole project, if i got my lines right of course, people with certain skill sets are still hard to come by, but this is a know through out the industry??...............the one advantage of course for the Sigma-Lamaque complex as it will or should lure back miners that had to leave the Val D'or area when POG was tanking to seek work elsewhere as the local mines were being shuttered, in other words, they are only a short car drive from their loved ones vis vis weekend visits only, but there are also other company's in the area re-opening mines so there is competition for the skill sets available??.........it is what i believe contributed to them "temporarily" losing their pit manager??
all four new trucks are now operational on a 24/7 basis, with scheduled downtime as per required for mill and maintenance on all equipment, it is why i always try to use 6 days/week for any kind of projecting purposes, always a good idea to factor in one day for maintenance??
as for Sigma, they believe they will meet their stated targets for the remainder of the year in spite of the increased stripping ration due to being waste bound within the pit, in one pic they had in their display you could see some of the old mine workings being exposed??
as for the Bedard Dyke, they are not sure exactly when this will be accessed as it is located on the westerly end of the pit which would place it under the circular highway which anyone can see via google earth, and i believe that anomoly extends under Val D'or itself, they will have to cut a new portal to get to the Bedard Dyke so i would bet that with everything else on their plate at Val D'or, this will not be front and centre for them at the moment, as getting Lamaque up and running and also getting Sigma more fine tuned is their priority in Quebec??
as for the TSX listing, they are just as frustrated with this aspect, as it has been on-going now since May, and as per info today the head guy in this department at the TSX is now handling this??............i'm not altogether happy with this situation and made that very clear as we were supposedly within two weeks, four at most in May after the AGM to being listed as they left the AGM meeting to meet with TSX people then, so no idea as to why it has been delayed??.................the company line is, TSX people went on holidays and passed the file around, well something like that anyways??
as for the web site being upgraded, it is in the works and it is in the hands of Peggy now for final approval, i believe the new guy in town "Brent" is going to be handling the web site as he is a "young buck" that I'm sure is very computer friendly, something that this company has been lacking in, but we have been aware of that??
poor Brent, i told him to get used to my voice as i will be one of those shareholders that will crack his head with information demands, you know the kind that will make him say??...............can i get back to you with that??
well not sure what else to say, maybe i will shake more outa my head later, good show, i prefer PDAC of course but still good to go over a few things with the newsletter crowd??
speaking of which, accordingly it appears there are a few of them that may begin to show some interest in Century Mining??.............dam i know of a few of them that own shares in Century but have not as of yet covered them??.............go figure eh??
but as one of them once told me??..........."mining company's are boring, all the excitement is in the exploration phase"??
what a difference there is when speaking to so many company reps, and how they look at their prospects, so many of them are working to be bought out, and so few of them are working to building an actual mining company??
and on that note even for Century Mining, with all the perceived warts and a few of managements "mistakes", they at least are working to building a significant player within the gold mining industry, they have the assets to begin this process and they have come a long way in the past two years??
one thing is good to see??..............and that is a management team that is willing to admit when they have made some mistakes and are working to rectify those situations accordingly??
tanoose |
