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Century Mining Corp. (CMM:CA)
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Web site:
http://www.centurymining.com/
Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company’s strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
Century operates mines in Canada and Peru.
On January 4, 2010, the Company closed $60.75 million, which will provide the required capital and funding to bring the Lamaque gold mine back into production in Val-d’Or, Quebec, and also increase production capacity at its San Juan gold mine in Peru.
The Company has worked aggressively to define additional reserves and resources at the Lamaque complex over the past two years and is now preparing for the commencement of production in the summer of 2010, and expects to reach commercial production in 2011. Significant resources at both Lamaque and San Juan will provide for many years of future gold production and also offer additional future potential upside for new discoveries.
In Peru the Company operates the San Juan underground gold mine that it acquired in May of 2006 when it acquired 60% controlling interest in San Juan Gold Mines S.A.A. In December of 2006, the Company increased its interest to 82.6%. The remaining 17.4% interest is owned by the past and present workforce of approximately 1,100 shareholders. The Company accounts for 100% of gold production, subject to a 10% NPI owned by San Juan Gold Mines, of which the Company receives 82.6% of this NPI.
Century Mining has Exploration properties in Peru, Canada and the United States.
| PERU San Juan Colina Dorada | CANADA Quebec Northwest Territories | USA Alaska |
CMM:CA
Category:
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