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Century Mining Corporation was formed
and financed in September 2003 when its experienced
management team took-over and reorganized Saxony
Explorations Ltd. Since that time, the Company has
acquired significant gold producing mines in Québec and
Peru at acquisition costs per resource ounce well below
comparable market transactions. The Company also has
significant exploration properties in Peru, Quebec,
Alaska, and British Columbia.
Milestone events in the Company’s
history are outlined in the following chronology:
|
2003 |
|
September |
|
•
Saxony Explorations Ltd acquires 10 exploration
properties on the Juneau Gold Belt in Alaska from a
private company. |
|
•
Saxony changes name to Century Mining Corporation. |
|
•
Century’s shares commence trading on TSX-V under
symbol CMM. |
|
•
New management team takes over and Century’s
representatives appointed to board. |
|
•
$810,000 private placement. |
|
•
3 old for 1 new share consolidation. |
|
2004 |
|
September |
|
•
Acquired 70% interest in dormant Carolin gold mine
located near Hope, British Columbia. |
|
•
Acquired Sigma-Lamaque assets in Val d’Or, Québec and
six additional exploration properties. |
|
2005 |
|
May |
|
•
Commenced commercial gold production at Sigma
open pit after completion of a 250,000 tonne bulk sample program. |
|
2006 |
|
February |
|
•
Incorporated Century Mining (Peru) S.A.C. to pursue
acquisitions in Peru. |
|
•
Acquired Colina Dorada property in Peru. |
|
March |
|
•
Commenced underground exploration and
development at Lamaque underground mine. |
|
April |
|
•
Completed C$25.0 million equity financing. |
|
May |
|
•
Acquired 60% controlling interest in San Juan
Gold Mines S.A.A. in Peru. |
|
November |
|
•
Reported first quarter of net income C$1.1
million, three years after starting company. |
|
December |
|
•
Commenced underground and surface exploration
drilling programs at San Juan Mine in Peru. |
|
2007 |
|
January |
|
• Increased interest in San Juan Gold Mines
S.A.A. to 82.6%. |
|
April |
|
• Adopted Shareholder Rights Plan. |
|
• Received Lamaque underground permit. |
|
• Commenced underground mining operations
at Lamaque. |
|
May |
|
• WEGA Mining ASA invested $12.0 million in
Century for a 14.1% equity interest in the
Company. |
|
• Filed Form 40-F with the SEC to register
common shares in the United States. |
|
June |
|
• Acquired Rosario de Belen open pit heap leach
gold mine in Peru. |
|
October |
|
• Extended maturity of long-term debt obligation
to Investissement Quebec to match the life of
the Lamaque underground mine. |
|
2008 |
|
January |
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• Closed flow-through financing for a total of
$3.9 million. |
|
• Announced updated Lamaque NI 43-101 report
with gold reserves of 1.1 million oz, M & I
resources of 624,000 oz and 2.8 million oz of inferred
resources. |
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