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Gold/Mining/Energy : Century Mining Corporation
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From: FreedomForAll9/27/2007 2:29:55 PM
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Can't improve operations? Stock price in the toilet?
Answer: Issue lots of shares at the cheap price and screw the shareholders with dilution.
At least this explains the inability pf the stock price to rise with the rest of the producers.
Peggy's taking lessons from 'Copter Ben.

Century Mining Announces Up to US$20 Million in Financings
Thursday September 27, 1:05 pm ET

BLAINE, WASHINGTON--(Marketwire - Sept. 27, 2007) - Century Mining Corporation (TSX VENTURE:CMM - News) announces today that, subject to regulatory approval, it will complete a non-brokered private placement of up to 36.5 million Units at a subscription price of C$0.55 per Unit for gross proceeds of approximately US$20 million. Each Unit will comprise one Common Share and One-Half of One Common Share Purchase Warrant. Each whole Common Share Purchase Warrant will entitle the holder to purchase an additional Common Share at an exercise price of C$0.75 per share for a period of 24 months. The proceeds from the unit offering will be used for the development of the Lamaque Mine, further mill expansion at San Juan, property payments and working capital.
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For introducing certain investors to the Company, Century will pay 6% cash and 1% of the gross proceeds of the private placement in common stock of the Company.

All of the securities issued under these private placements will be subject to a four-month hold period.
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