2010 05 01 presentation
TRANSCRIPT
-
7/30/2019 2010 05 01 Presentation
1/29
TSX-V: CMM
Commenced Production at the LamaqueMine in Qubec
Expanding Production at the San JuanMine in PeruApril 30, 2010 Gold Pour
Lamaque Gold Mine
Ahead of Schedule/On Budget
-
7/30/2019 2010 05 01 Presentation
2/29
TSX-V: CMM
2
Forward-Looking Statement
FORWARD-LOOKI NG I NFORMATION AND STATEMENTSThis presentation contains forward-looking information and forward-looking statements within the meaning of applicablesecurities laws. This information and statements address future activities, events, plans, developments and projections. Allstatements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Suchforward-looking information and statements are frequently identified by words such as may, will, should, anticipate,
plan, expect, believe, estimate, intend and similar terminology and reflect assumptions, estimates, opinions andanalysis made by management of Century in light of its experience, current conditions, expectations of future developments andother factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known andunknown risks and uncertainties that may cause Centurys actual results, performance and achievements to differ materiallyfrom those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should notbe placed thereon. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative
nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational andtechnical difficulties; the availability of suitable financing alternatives; fluctuations in gold and other commodity prices; changesto and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political,economic and other risks arising from Centurys South American activities; fluctuations in foreign exchange rates; as well asother risks and uncertainties which are more fully described in our annual and quarterly Managements Discussion and Analysisand in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Centurydisclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
NOTI CE TO U.S. PERSONSThe securities of Century have not been and will not be registered under the United States Securities Act of 1933, as amended
(the U.S. Securities Act) or the securities laws of any state and may not be offered or sold in the United States or to U.S.persons (as defined in Regulation S to the U.S. Securities Act) unless an exemption from registration is available.
-
7/30/2019 2010 05 01 Presentation
3/29
TSX-V: CMM
3
About Century Mining
Century Mining Corporation is a Canadian junior gold producer andholds strategic land positions in Canada, the
United States and Peru.
The Companys strategy is to grow to an intermediate goldproducer through existing mine expansions and acquisitions of
other strategic and synergistic gold opportunities.
-
7/30/2019 2010 05 01 Presentation
4/29
TSX-V: CMM
4
Management & Board of Directors
SENI OR MANAGEMENT
Margaret M. Kent President, CEO & DirectorHugh W. Blakely CFO
Richard Meschke VP Legal & Corporate Development
Adrian C. McNutt VP Operations
Peter A. Ball Director Investor Relations
BOARD OF DI RECTORS
Margaret M. Kent President, CEO & Director
Wil liam J.V. Sheridan Secretary, Director
Fran Scola Director
William Lamarque Director
Ricardo Campoy Board AdvisorKeit h Hulley Board Advisor
-
7/30/2019 2010 05 01 Presentation
5/29
TSX-V: CMM
5
Investment Highlights
Proven production record at San Juan gold mine, Peru
Commenced production ahead of schedule at Lamaque goldmine on April 30, 2010
Proven management team and Board of Directors
2010 guidance: 55,000 to 65,000 oz of gold production atcash cost of $550 to $570 per oz Lamaque production to be capitalized in 2010
Production growth with Lamaque ramping up to fullproduction of 100,000 to 110,000 oz/yr
LOM average cash cost of $450 to $500/oz
-
7/30/2019 2010 05 01 Presentation
6/29
TSX-V: CMM
6
Investment Highlights
Significant gold reserves and resources
Multiple exploration projects with upside potential
Extensive mining and milling infrastructure in place
100% control of projects and located in world-class gold
districtsAssets located in mining-friendly jurisdictions
Low valuation compared to peer group
-
7/30/2019 2010 05 01 Presentation
7/29
TSX-V: CMM
7
Annual Gold Production Projection*
2012e 2013e2011e2009 2010e
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
San Juan
Lamaque
GoldProduction(oz)
45k 90k 105k90k
17k
20k
24k30k
30k
-
7/30/2019 2010 05 01 Presentation
8/29
TSX-V: CMM
8
Corporate Reserves & Resources
2008 200920072006
7.0
6.0
5.0
4.0
3.0
2.0
1.0
0
MillionsOuncesGold
Addit ional I nferred
Measure and I ndicated ( excluding Reserves)
Reserves (Proven & Probable)
Lamaque
Peru
Lamaque
Peru
Lamaque
Lamaque
Note: Prior to 2008 Perus resources were not 43-101 compliant
-
7/30/2019 2010 05 01 Presentation
9/29
TSX-V: CMM
9
Century Production History
Sigma Open Pit
Lamaque Undergroun d*
San Juan , Peru
2008 200920072006
70,000
60,000
50,000
40,000
30,000
20,000
10,000
0
GoldProd
uction(ounces)
2005
*Lamaque 2008 production of 5,291 ounces of gold from bulk test were capitalized and were not recorded as
production revenue during 2008.
-
7/30/2019 2010 05 01 Presentation
10/29
TSX-V: CMM
NET EARNI NGS( CDN MI LLI ONS $)
-4
-2
0
2
4
Q4 08 Q1 09 Q2 09 Q3 09
10
2008/2009 Quarterly Highlights (2009 numbers are unaudited)
GOLD PRODUCTI ON
( 000s OUNCES)
0
2
4
6
Q4 08 Q1 09 Q2 09 Q3 09
CASH COST PER OUNCE (US$/ OZ) v s
REALI ZED GOLD PRICE
$0
$200
$400
$600
$800$1,000
Q4 08 Q1 09 Q2 09 Q3 09
EARNI NGS FROM OPERATI ONS(CDN MI LLI ONS $)
$0
$2
$4
Q4 08* Q1 09 Q2 09 Q3 09
Gold Pri ce
* Adjusted 08 spread over 4 quarters in 2008
-
7/30/2019 2010 05 01 Presentation
11/29
TSX-V: CMM
11
2010 Objectives
Start-up and commence gold production at the Lamaque gold mine in
Q2 with guidance of 45,000 ounces for 2010; UPDATE: COMMENCEDFIRST POUR APRIL 30, 2010 AHEAD OF SCHEDULE & ON BUDGET
Expand production at the San Juan gold mine in Peru
Produce 55,000 to 65,000 ounces of gold at a cash operating cost ofapproximately $550 to $570 per ounce
Continue aggressive data compilation at Lamaque Complex to continueto add resources and reserves
Continue to review synergistic opportunities for acquisition andjoint venture
-
7/30/2019 2010 05 01 Presentation
12/29
TSX-V: CMM
12
Mines & Exploration
Production
Exploration
San Juan MinePeru
Lamaque MineQubec
Carolin Mi ne
Goodchild
Juneau Propert ies Yellow knife Nort hbelt
-
7/30/2019 2010 05 01 Presentation
13/29
TSX-V: CMM
13
Lamaque Complex Val-dOr, Qubec, Canada
-
7/30/2019 2010 05 01 Presentation
14/29
TSX-V: CMM
14
Lamaque Gold Project
Signif icant Upside
Experienced technical team
100% control of the LamaqueComplex and land package
New exploration targets atdepth and along strike
Growing Production
~45k oz Au in 2010Expanding production each year
Increasing reserve/resource
100-110k oz/yr at LOM avg. cash costof $450 to $500/oz
Lamaque Complex
Established mining camp
Historic production over 9 mm oz Au~$35M spent on new mill completedin 2002 by previous operators
Extensive infrastructure
Ready work force
Location
Mine Type
Reserves (2 p) 4.56 g/t Au
Resources (M & I ) 4.81 g/t Au
Resources (I nferr ed) 4.95 g/t Au
Estimat ed Mine Life
Gold Product ion 2010 Guidance oz
Total Cash Cost/ oz 2010 Guidance
Qubec, Canada
Underground
1.14 M oz Au
1.28 M oz Au
3.13 M oz Au
11+ years
~45k
-
7/30/2019 2010 05 01 Presentation
15/29
TSX-V: CMM
15
Lamaque Contiguous Claims
Century controls 21.5 sq
km of contiguous claimsthat provides significantpotential for futureresource developmentprograms
WE PST LUG
N
ONE MILE
LAMAQUE
MINE
SIGMA MINE
AUMAQUE
UNION GOLD`
UNION GOLD`
NEW
BIDLAMAQUE
LAMAQUE
U
AUDET
1
2
3 4
5
RECENT DRI LL I NTERSECTI ONS
Explorat ion I nt ersect ions
1) Cent ral Dior i te 50.7 g/ t Au over 0 .6 m
2 ) Sou t h Di or it e 1 08 .3 g/ t Au ov er 1.7 m
3 ) Lac Lan gl ade 1 .3 g/ t Au over 1.2 m
4) Aur ic West 55.8 g/ t Au over 0.6 m
5) Aumaque Mine 10.3 g/ t Au over 1 .7 m
-
7/30/2019 2010 05 01 Presentation
16/29
TSX-V: CMM
16
Sigma / Lamaque Mine ComplexSection Looking West
NS
Level 18
1800 ft
Lamaque #7 Shaft Lamaque Mine #2 Ramp
Lamaque #2 Mine
Shaft
Lamaque Main Plug
Sigma-Lamaque Boundary
Sigma Open Pit
Level 40
6000 ft
Level 36
3600 ft
Sigma Mill
Sigma Main Shaft
Level 24
2400 ft
Unexplored Area
-
7/30/2019 2010 05 01 Presentation
17/29
TSX-V: CMM
17
Lamaque Gold Mine Path to Production
January 2010 February 2010 March 2010 April 2010 May 2010
Build-out m iningteam
Establish minesite work f orce:underground/surface
Power t ominesite
Re-establishoffice andfacilities
CommenceBedard DykeDril l ing
Order U/ G Equip.
Gain access tounderground;begin slashingram p access andopen up U/ Gworkings
CompletedBedard Dykedril l ing
Expandedpotentialresourcesthrough dril l ing
Build-outadditional miningteam forunderground andmill facil i ty
Stockpile init ialunderground oreand millshakedown
Upgrade crusherfacilities
Advancedengineering &mine planning
Continueresourcedevelopment
Expandundergroundworkings
Receive new U/ Gequipment
Tender out f or45,000 meterdrill program
Start upcrushing plantand commenceproduction
Continueengineering &mine planning
Continuedresource
development Pour first
dore bar
Receive newU/ G equipment
Bedard DykePortalEngin eering andPort al Prep.
I ncrease dailyproduction
Expandmine plan
Expand deepexplorationprogram
Continuedresourcedevelopment
Analyst site tour
June 4
Bedard DykePortalEngin eering andPortal Prep.
TPD: Ni l
ON TRACK
TPD: Ni l
ON TRACK
UG TPD: ~ 200
ON TRACK
TPD: 200 t o 300
Oz Au: 23 0
ON TRACK
TPD: 500 t o 800
Oz Au/ Mth: 2-3k
I t emCompleted
Commencedand Ongoing
-
7/30/2019 2010 05 01 Presentation
18/29
TSX-V: CMM
18
Lamaque Gold Production Projection
2012e 2013e2011e2009 2010e
140,000
120,000
100,000
80,000
60,000
40,000
20,000
0
Lamaque
G
oldProduction(o
z)
45k 90k 105k90k
In 2010/11, Century will commence mining in three separate zones: Lamaque #2, Bedard Dyke, and the North Wall via rampaccess from the existing pit; head grade to the mill is expected to be 4.76 g/t Au and recoveries are expected to be 94-96%
through the mill circuit Lamaque #2 will be mined utilizing the room and pillar mining method, and the Bedard Dyke and North Wall zones will bemined via the long hole open stope method; average daily tonnage is expected to average 1200-1400 tpd for 2010 as newzones are brought into production in the latter part half of 2010; in 2011 production is anticipated to peak around 2,000 tpd
-
7/30/2019 2010 05 01 Presentation
19/29
TSX-V: CMM
19
San Juan Gold Mine Peru
-
7/30/2019 2010 05 01 Presentation
20/29
TSX-V: CMM
20
Currently in Production
San Juan Mine
San Juan Gold Mine Peru
Century now maintains a land position in Peru exceeding 220 sq kms,
including numerous exploration targets.
-
7/30/2019 2010 05 01 Presentation
21/29
TSX-V: CMM
21
San Juan Gold Mine
Signif icant Upside
Multiple targets identified locallyand regionally
Long history of mining in area
Excellent work force
Expansive Land Package
Property size: 220 square kilometers
Expanding reserve/resource
Opportunity to extend mine life
Growing Production
14.3k oz Au in 2008 at US$488/oz~17k oz Au in 2009 at $525to $550/oz
Expanding facilities in 2010;~25k oz/yr by 2011
Location
Mine Type
Reserves (2 p) 8.85 g/t Au
Resources (M & I ) 2.23 g/t Au
Resources (I nferr ed) 9.25 g/t Au
Estimat ed Mine Life
Gold Product ion 2010 Guidance oz
Total Cash Cost/ oz 2010 Guidance
Peru
Underground
186,316 oz Au
16,475 oz Au
175,125 oz Au
8+ years
18k 20k
$550 $570
-
7/30/2019 2010 05 01 Presentation
22/29
TSX-V: CMM
22
Expansive Land Position:San Juan Exploration Potential
Four known mineralized epithermal prospects
VETA CLARA
Seven veins parallel the ChocolonFault, one of which has returnedhigh grade gold assays
SANTA CLARI TA
Iron oxides with visible gold nearmajor fault zone
LI LY-LA HUACA Quartz-gold veins in medium to
coarse-grained sandstones
ERI KA
Copper-gold-silver porphyry system
GOLDEN CHAMPUNE
Stockwork in granodiorite intrudedby andesitic dykes containing goldadjacent to the margin of the dykes
220 Sq. KmProperty
-
7/30/2019 2010 05 01 Presentation
23/29
TSX-V: CMM
23
Gold Production in Peru
The San Juan Gold Mine is currently in production and cash flow positive
Century plans to further increase production at San Juan through capital investments in2010
Modernized equipment from Lamaque being relocated to San Juan in 3Q/4Q 2010
San Juan Gold Production Forecast
2013e
GoldProduction(oz)
2012e2010e 2011e20092007 20080
10,000
20,000
30,000
40,000
12.3k 14.3k 17.0k ~19k ~25k ~30k ~30k
-
7/30/2019 2010 05 01 Presentation
24/29
TSX-V: CMM
24
Peer ComparisonEnterprise Value* vs Reserves/Resources (excl. inferred)
7397 112 113 114
150
384 403415
944
$0
$100
$200
$300
$400
$500
$600
$700
$800$900
$1,000
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
Etru
scan
Reso
urces
A
lexis
Minerals
Century
M
ining
Richmont
M
ines
Apollo
Gold
Kirkland
Lake
Lake
Shore
Gold
Wes
dome
Aurizon
M
ines
SanGold
MktC
ap/OuncesAu
Reserves/ResourcesOzAu(millions) Enterprise Value/Oz Au Reserves/Resource Oz Au (millions)
As at April 30, 2010 based on various companies website and available information.
-
7/30/2019 2010 05 01 Presentation
25/29
TSX-V: CMM
25
Peer ComparisonEnterprise Value* vs 2011 Forecasted Annual Gold Production
712 741
1,322
2,290 2,262 2,334
4,975 5,189 5,152
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
0
50,000
100,000
150,000
200,000
250,000
AlexisMin
erals
RichmontM
ines
Apollo
Gold
Wesdome
Etruscan
Resources
CenturyM
ining
LakeShore
Gold
Kirkland
Lake
San
Gold
EV/AnnualProductionOzAu
2011ProductionForecast
EV/Annual Production Au 2011 Annual Production Oz Au
As at April 30, 2010 based on various companies website and available data.
-
7/30/2019 2010 05 01 Presentation
26/29
TSX-V: CMM
26
Share Information TSX-V: CMM
$0.00
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
$0.70
$0.80
$0.90
Ma
y-
09
Jun
e-
09
July
-09
Augus
t-
09
Sep
tem
ber-
09
Oc
to
ber-
09
Novem
ber-
09
Decem
ber-
09
January-
10
Fe
bruary-
10
Marc
h-
10
Apr
il-
10
-
7/30/2019 2010 05 01 Presentation
27/29
TSX-V: CMM
27
Capitalization and Liquidity
As at December 31, 2009 (unless otherwise stated)($CDN)
Trading Symbol CMMStock Exchange TSX Venture
Basic Shares Outstanding (millions) 344.8Warrants (millions) 56.4Options (millions) 7.7
Fully Diluted Shares Outstanding (millions) 408.9
TSX Share Pri ce (as of April 30, 2010) $0.76Market Capitalizat ion (as of April 30, 2010) $260Cash $33
Debt $40Working Capit al $35Cont roll ing Shareholder Ownership Current 35.9%
Fully Diluted 44.1%Management Ow nership 7.5%
(Note: Information presented above is unaudited)
-
7/30/2019 2010 05 01 Presentation
28/29
TSX-V: CMM
28
Summary
Proven production record at San Juan gold mine, Peru
Lamaque commenced production ahead of Schedule April 30, 2010 Proven management team and Board of Directors
2010 guidance: 55,000 to 65,000 oz of gold production at cash cost of$550 to $570 per oz (Lamaque production to be capitalized in 2010)
Production growth with Lamaque ramping up to full production of100,000 to 110,000 oz/yr (LOM average cash cost of $450 to $500/oz)
Significant gold reserves and resources
Multiple exploration projects with upside potential
Extensive mining and milling infrastructure in place
100% control of projects and located in world-class gold districts Assets located in mining-friendly jurisdictions
Low valuation compared to peer group
-
7/30/2019 2010 05 01 Presentation
29/29
TSX-V: CMM
29
Corporate Information
For more information on Century Mining Corporation
please contact:
Peter A. Ball , Director of Investor Relations
CORPORATE OFFI CE
Century Mining Corporation441 Peace Portal Drive
Blaine, Washington 98230
Tel 360 .332 .4653
Toll Free 877.284.6535Fax 360.332.4652