Century has a recent history of over promising and under delivering. When you combine that with the credit crunch of late 2008, you can see why their share price fell from over $1.20 in early 2007 to 2 cents in late 2008.

In 2009, it was all about raising the money needed to get going again. We have some great projects, with Lamaque as our flag ship but we could not do anything without a serious cash injection. I am not sure how many here have been involved in raising funds but it is a very arduous and long process-and the hardest part of getting things going again. Peggy, our CEO has endured a nasty reputation of under achieving which follows her around to this day and is one of the factors that keeps our share price this low.

However, she had nothing to do with the financial crash but was a big victim of it. To her credit, she never stopped believing and worked to get this cash injection. She has surrounded herself with good mining people like Fran Scola and William Lamarque to get the company going again. We sit on 6 million ounces of gold reserves and resources at Lamaque only-yet our market cap fully diluted is still under 150 M dollars. We are less then 2 months from pouring gold at Lamaque, less than 1 year from having production of 100k ounces of gold production. If we remain on pace for this, we will have 50 Million dollars of earnings (100k ounces at 500$ per ounce profit) and at a PE of 8, we should be at $1, at a PE of 16, we should be at $2. I believe we will be somewhere in the middle of this unless gold sets new highs again, then I would raise those targets.

However, we need to shed our image of under delivering and for the last 2 months, we have been over delivering and we continue to under promise IMO. On their website, they have a target to pouring gold from Lamaque. I believe we will beat this target by 20 days or better. The company needs to re-establish credibility after almost going bankcrupt and doing so will go a long way to do so.

The NR yesterday was very good, the headline of 100.5 g/t was worthy of "eyepopping" and did get us some attention as our share price came up 7%. As long as they keep underpromising and over delivering, will have many more days like this.

Glorieux