NR out
posted on
Nov 23, 2009 04:38PM
BLAINE,WA, Nov. 23 /CNW/ - Century Mining Corporation (CMM: TSX-V) todayannounced that the Company received overwhelming support at a specialmeeting of shareholders who passed an ordinary resolution authorizingand approving a C$21 million private placement of units of the Company,the creation of new control persons of the Company and the consequentamendment of the Company's shareholder rights plan. Shareholders whovoted in person or by proxy voted 99.23% in favour of the resolution.
Margaret Kent, Chair, President and CEO of Century, concluded themeeting by saying that the Company expected the financing to close inearly December and that the Lamaque underground project would reopen inJanuary of 2010. The first gold pour is expected in April of 2010.Notices have been sent to mine staff. Similar notices of recall will besent to hourly-paid workers in mid-December.
So the vote is done. I think we get a small bump in SP maybe 22-23 cents and then we wait for the money to come in. Once that has happened, we should see a good run.
Good luck to all,
Glorieux