A TimeLine post from production05 on the SH board ..
Near term:
1) Receive San Juan drilling permit.
2) Closing of 38% Poderosa deal –
Oct. 16 ’06 NR:
“The transaction is expected to
close within 30 days.” I expect this to lift the share price slightly as it becomes official that we now have low cost production as part of our cash cost profile – our high cost production has been a concern for the market.
3) Enhanced website – perhaps in about 2 months (based on comments from conference call).
Within 4 months:
1) Actual drill results for San Juan.
2) Maybe the company will give us a few hints as to how the reconnaissance sampling program is coming along at Santa Clarita –
Oct. 5 ’06 NR:
“A widely spaced reconnaissance sampling program has commenced on the Santa Clarita porphyry Cu-Au target and age date samples have been collected on the Erika porphyry property to investigate its relationship to the Paleocene porphyry belt of southern Peru.”
3) Receipt of combined drilling permit for Veta Clara and Santa Clarita –
Oct. 19 ’06 NR:
“Regarding multiple permit applications, the Ministry of Mines of Peru will only review one application at a time, and will not accept new applications until permits have been issued for prior applications.”
4) Issuance of results from a few surface samples, or at least provide us with a decision as to (going forward) how much focus will be placed on Colina Dorada (located next to Plexmar’s core asset - $97.4M market cap without any drill results) –
Oct 19 ’06 NR:
“The Company will carry out a systematic exploration program at its Colina Dorada property in northern Peru during the current quarter. The Company has set an initial budget of $50,000 for geological mapping, prospecting and sampling… The results of this preliminary program will determine the scope of continuing exploration programs in this highly prospective area.”
5) Publish results from the Lamaque exploration program and a reserve/resource total for the West Plug deposit –
Sept. 27 ’06 NR:
“A total of 9 resource blocks, shown in the diagrammatic crossection of the Sigma-Lamaque underground (see link), have been targeted for future exploration from underground. A total of C$800,000 will be spent on the Lamaque exploration program in 2006. In addition to the underground program, the West Plug deposit is situated on the Lamaque property and was the subject of Century's 2005 exploration drill program. Reserves and resources are currently being calculated on this deposit and will be included in Century's reserve statement at year-end.”
6) Completion of the waste removal program at Sigma (perhaps slightly greater than 4 months – Peggy mentioned that it is expected to be completed during the first week of March.
Within 6 months:
1) Filing of the official 43-101 document for San Juan reserve and resource totals.
2) Publish Q4 production ounces.
Q4 is expected to generate record production ounces. During the conference call, Peggy stated that Q4 ounces will be many more than Q3.
3) Report on achieving the milestone net profits for the company overall.
4) Issuance of drill results from Poderosa -
Oct. 16 ’06 NR:
“We look forward to working with Poderosa’s management team as they delineate additional mineral reserves and resources and continue exploration on this excellent land position.”
5) Make offer to acquire remaining 62% of Poderosa –
Oct. 16 ’06 NR: “….
the Company is required ….make an offer for the balance of the shares of CMPSA.” I believe Peggy mentioned that they have 18 months before the deadline expires, but it is my belief that it will get done much sooner.
6) TSX listing (a blind guess of course). It is completely out of the hands of the company.
7) Make decisions on non-core assets - Century plans to option, joint venture or place the properties in a separate company to finance the exploration efforts.
Within 9 months:
1) Convertible debentures to be reduced by 40% (due to share conversion) –
Oct. 16 ’06 NR:
“Up to 40% of the value of the convertible debentures may be converted into common shares…..at the option of the debenture holders for a period of nine months.”
2) Update on Erika –
Sept 27’06 NR:
“For 2006-2007 the Company will complete a geochemical and mapping survey over the entire two square kilometer area of the showing to more clearly understand the geology and mineralization.”
3) Establish whether Golden Champune still have potential –
Sept 27 ’06 NR:
“The Golden Champune will be re-evaluated as a potential vein system target using a focused sampling method and at least two core holes to sample the system to a depth of up to 1,000 meters.”
Within the next 18 months:
1) Make remaining 60% debenture payments for the Poderosa acquisitions – due in 12 months in the case of the 38% deal.
2) Acquire another low cash cost producer within the Pataz belt (or at least within Peru) –
from Oct. 19, 2006 NR:
“Century's acquisition of a 38% interest in CMPSA is the first step in the Company's expansion into the prolific Pataz belt, which produces over 400,000 ounces of gold per year.”
3) Reach 500,000 ounces of annualized gold production.
Production05
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