Twilight, the POG and markets or lack of aside i have to say i think your completely right about CMM going up in price over the year, a lot of hard work through the first and second quarter to yeild poured gold and a move to the big board would help this stock, of course some great core results increasing the oz's or an anouncement of a JV, merger or take out of an immediate neighbor and the increase in production at San Juan would all help. Gauranteed Finsky's here to make a hell of alot more than he's put in, there are plans to be sure for making this thing a success.

"A lot of their future gold won't make it to the profit column."

Below ia an excellent post of Glorieux's back Jan15th clarifying CMM's committment to the gold contract and what it leaves us in the coffers, in addition CMM also has 80 Million in tax credits at Lamaque.

"The Gold forward loan is based on 12% of estimated production and 3% of reserves. There are no fees or commisions with our gold loan. The schedule of reimbursement is as follows:

Year Gold payment

2010 5700

2011 8000

2012 13000

2013 17000

2014 17000

So this would be taken off our production numbers. So for 2011, our target production is 113k ounces and off this we will pay 8000 ounces leaving us with 105k net ounces for earnings.

The other very important aspect is:

The company has also been provided a margin-free gold trading line for up to 180,000 ounces of gold and a currency trading line

So we have a line of credit worth 180M dollars that is available to the company. This is very significant IMO and can be used strategically of M&A without fear of dilution. These guys know what they are doing and the market will see that soon!"

"The schedule of gold payments is as follows: year 1 -- 5,669 ounces (from a total of 45,000 plus 20,000 from San Jaun; year 2 -- 8,004 ounces; year 3 -- 13,310 ounces; year 4 -- 17,100 ounces; and year 5 -- 17,100 ounces. The 61,183 ounces of gold that have been committed under this facility represent less than 3 per cent of the existing reserve and measured and indicated resource base at Lamaque. The company has also been provided a margin-free gold trading line for up to 180,000 ounces of gold and a currency trading line. The company has an obligation under certain circumstances to put in place price protection hedging to preserve cash flows if the gold price starts to decline. At closing, a performance reserve account has been set up whereby $15-million (U.S.) of the facility was placed in this account and will be released to the company upon certain hurdles and specified production levels being met. The projected hurdle achievement dates and related releases of funds are consistent with the Lamaque cash requirements for project development."

The Jan 17 release expanded on the previous drilling of the Bedard dyke area

Here's a bit more courtesy of production05

IMO, these results are great. More importantly, they confirm everything we thought based on the earlier drill results and with similar past dykes found on the property: "The Bedard dyke is typical of the mineralized dykes found at the Lamaque mine."

We should not forget the 2 original drill holes:

*drill hole 18755: 80 ft (24 m) @ 12.8 g/t Au

*drill hole 18803: 216 ft (64 m) @ 14.9 g/t Au

Century should have mentioned this past info in the NR, for people who are not familiar with the Bedard Dyke.

Century then drilled a 3rd hole (unpublished, but discussed in DD reports and presentations). That hole confirmed the existence of numerous high grade zones going down the Bedard Dyke. It also gave the company reasons to believe that the dyke potentially goes down as much as 1000 ft from the surface.

You add the info from the first 3 (excellent) drill holes to great drilled data from these 13 new drill holes and it paints a very nice picture.

I like that they have already confirmed a minimum of 705 ft of the 1000 ft (maybe it goes deeper than 1000, we'll see):

"The current drilling intersected the Bedard Dyke at depths varying between 61 and 748 feet below topographic surface. Interpretation of the dyke, utilizing current and historic drill holes is currently being completed and indicates that the Bedard Dyke has a minimum strike length of 705 feet and dips approximately 80 degrees to the south. The dyke pinches, swells and bifurcates both along strike and down dip. Dyke widths vary from approximately 6 feet thick on the western end to 30 feet thick on the eastern end near the Sigma Pit."

They will likely first begin mining the Bedard Dyke on the wall of the open pit, where they have test mined a bit during the open pit days (and they likely have very easy access). Given that they were able to reach the ore in that area before, it likely means no major development work is required. It will likely give them time to develop the appropriate infrastructure to mine the deeper and more complex parts of the dyke.

Going forward we should be getting word of tender award for the completion of the drill program at Bedard and subsequently the commencement of drilling.

From the Jan 17th release:

Century Mining Corporation ("Century" or the "Company") (TSX VENTURE:CMM) is pleased to announce results of surface diamond drilling at the Bedard Dyke within the Lamaque gold project. The current drill program is designed to test the extent of the dyke, as well as the grade. A total of 21 holes (10,765 ft) were planned but only 13 (6,748 ft) have been completed to-date due to an interruption in the drill program. The Company is currently reviewing tenders for the completion of the drill program and plans to commence drilling of the remaining 8 holes (approximately 4,000 ft) in the first quarter of 2010.

If the balance of the drill program ( 8 ) holes are successful look to see the program expanded upon. Question: if you were Finsky, where next would you pony up to on the acquisition or takeover front?