Hello John
i have been meaning to reply to your post, so here goes??
you wrote;
"Hi tanoose
here is what has got me SPOOKED about CMM ....
its San Juan ......
my fear is that by the time we have owned it for
1 year -
we will have not put forth any capital expenditure
$$$ to upgrade its tpd ..... and consequently are
looking at a MISSED i.e. revised downward production
estimate for 2007 San Juan production .....
-and- this is being done with malice aforethought ...
We share the same fears with regards to this aspect at SJGM, there are other issues that I'am aware of that have been on-going at the SJGM mine site, for example the town that has grown on the mine site is much larger now than the facility was ever intended to support, so now Century finds themselves in a bit of touchy situation with the locals, i believe their own mine emplyees are not the probelem as they understand the principals of their employment with Century, but the informals that have inhabited the site are another situation that needs delicate handling for a mutually succesful resolution??
"Peggy's MO is this -
(a) When will have the trucks ... call up the truck
company and put their estimate out in an NR or update
(b) When will we have permits .... call up the
Peru thingajig and whatever they say .... put it out
in an NR or as an update on a CC
(c) Whats the timeframe for waste removal .... put
out a number .... then put out another number when
asked the same question a month or so later ...
this whole attitude has an ENRON feel to it ..."
This is a problem that management has created, the optics that are out there are not the best at this moment, if we are viewing what "she" or they are doing in the way you have mentioned then who else that matters is vieiwng them in a similar fashion, as even she has stated repeatedly that instituions are waiting for profitable qtrs to appear, but the information flowing is not consistent??
any thoughts you or Tad have on San Juan capital
expenditures would be appreciated ...
IMHO we should be looking at anywhere from 15-20 million at minimum, basing it on the old German report stating that $10 million would be required to bring it up to a level of 80,000oz's/yr.The only thing i have been able to get from them is that it would cost more than $10 million.
FWIW
>>>>>>>>>>>>.
dilution for the solution??...... believe it or not this company needs more of it, so when they do get on the "TSX"?? there will be plenty of liquidity for the much vaunted and of course courted institutions that require such??
>>>>>>>>>>>>.
not in any MBA class that I had .... but once heard
heard a biotech company president offer a similiar
suggestion as he dragged his biotech firm down ...
regards,
John
as for what i mean regarding "dilution for the solution", i was very vague in how i posted that...sorry about that??, but it appears that when one looks over the gold mining landscape and extrapolates to where CMM is heading, we should see a company with much higher diltion and of course much more in assets?? keep in mind that atracting institutionals requires or begs a certain degree of liquididty in the stock??........now keep in mind I'am talking about producers here and not pure exploration plays
look at this company for an example, there are many more with similar share structure, as it is my firm belief that CMM will have many more shares outstanding before we get to being that 1,000,000 oz/yr producer, the figure seems to fall into the 300-400million shares O/S range for many of these company's??
Van Sun feels Johnson's sweet pain over Bema payday
Bema Gold Corp (C:BGO)
Shares Issued 482,145,797
Last Close 11/10/2006 $6.01
Monday November 13 2006 - In the News
Also Kinross Gold Corp (2) (C:K) In the News
The Vancouver Sun reports in its Saturday edition Clive Johnson has had good times, bad times, and now, strange times. The Sun's Scott Simpson writes since Monday's announcement Bema Gold cut a $3.1-billion deal to be taken over by Kinross Gold, Mr. Johnson has caught himself wondering if the whole transaction is some trick of his imagination. At other times he feels pangs of regret the dream of turning Bema into a world-class gold company is over. The 18-year-old firm's glorious Kupol gold project in Russia is 18 months from completion, and its Cerro Casale copper-gold project in Chile still just an ambition. Now, pending shareholder approval, Mr. Johnson will walk away before either of those projects are producing, leaving them in the hands of a senior gold company that made a takeover offer too generous to refuse. In a swap, Bema shareholders get 0.44 of a Kinross share for each Bema share. The offer represents a 34-per-cent premium over the 20-day average price of a Kinross share. All that is left now for Bema is the effort to sell a deal which Mr. Johnson says he did not want, but could not in good conscience turn away. That is because it is in the best interests of Bema's shareholders.
© 2006 Canjex Publishing Ltd.
tanoose |
