different story indeedCome writers and critics
Who prophesize with your pen
And keep your eyes wide
The chance won't come again
And don't speak too soon
For the wheel's still in spin
And there's no tellin' who
That it's namin'.
For the loser now
Will be later to win
For the times they are a-changin'.
Hey D3 old pal was it just a few weeks ago you were reciting the tune below? Boy when you re-read this post you were a true believer back in the day.
" SUBJECT: SUE - Embarrassing & Desperate Posted By: December3
Post Time: 1/15/2008 23:27
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This is really sad to see the "highly respected management" putting out a news release that has glaring inaccuracies. I thought these guys were the ones that nit-picked over CMM's previous news releases. "He who live in glass house, should not throw stones."
Get a load of this from the SUE news release:
For example, there is no proper technical disclosure, or there is only inadequate technical disclosure, in accordance with the standards prescribed by National Instrument 43-101, standards of disclosure for mineral projects, in relation to some or all of Century's mineral projects including the assets acquired in 2007.
Gee, if one looks they will find that CMM does have a full report prepared in May 2007 on the San Juan Mine, which was completed in accordance with the standards, prescribed by National Instrument 43-101. Perhaps the author of that 43-101 report should investigate a defamation suit against Sulliden for calling his work "inadequate?" CMM also has a full 43-101 compliant report filed for the Sigma Mine and a new 43-101 compliant report for the Lamaque Mine. How do these guys think they can make these statements that appear to have no factual basis?
If you want actual 43-101 mineral Reserves and resources for San Juan, while there was a 43-101 compliant report filed on SEADR May1, 2007, you will have to wait a week or two for Reserves as such a report has been prepared, is being reviewed internally and will be issued in due time.
As far as Rosairio de Belen goes, sure it is an exploration property with a working mine. Plenty of exploration properties do not have completed 43-101 reports. This is normal. CMM has a bunch of geologists and equipment on site doing the exploration work right now in order to produce a 43-101 report. In the mean time, Rosario is starting to produce gold and flow cash to the bottom line. Shahuindo on the other hand is tied up in lawsuits for 5 more years and will NOT produce gold this year nor provide cash flow to the bottom line.
But look at this statement that could mislead a casual reader that had not seen CMM's news release from last week.
in fact, based on statements in Century's annual information form and the technical report filed by Century, it would appear that Century has no reserves at any property;
at any property ???
WOW! This is just plain wrong! Look on page 27 of the Annual Information Form for tables of Mineral Reserves and a table of Mineral resources at the Sigma-Lamaque Mine! But how can they ignore the fact that a complete 43-101 Report was disclosed Friday outlining Reserves and resources for the Lamaque Mine? This statement, which appears to have little basis in fact, has the look of desperation.
But the other way Sulliden worded the NR is just a bunch of stupid word games - truly embarrassing! The technique that is used here is one of using specific language in hopes that the average reader will not understand - it appears that they think you guys are ignorant! Sulliden says that there are no Reserves on any CMM property! The only way this has an effect on a shareholder is they do not know the difference between Reserves and resources. But you know the difference, but if you don't you can read the official definitions here: (1). But as noted above, the Annual Information Form did disclose Reserves and resources as well as the news release of Friday, January 11, 2007 announced a new 43-101 Report on the Lamaque property, complete with Reserves and resources.
But funny that Sulliden should nit-pick on the difference between Reserves and resources, because
Shahuindo has ZERO Reserves! ZERO!
Yep! Typical SUE style - attack your opponent on the very thing you are guilty of, as a way to direct attention away from your own short comings! Best I can tell, Sulliden has never specifically released the fact that it has ZERO RESERVES! Oh no!
But Sulliden doesn't stop there with shooting itself in the foot and looking desperate while trying to discredit CMM at any cost!
and, following the announcement by Century in Stockwatch on Nov. 5, 2007, that it is closing its Sigma mine, uncertainty with regard to the resources, if any, at Century's Lamaque mine.
WOW! This is a major gaff and is embarrassing! Friday, January 11, 2007 CMM released the results of their study that was completed in compliance with the standards of National Instrument 43-101 in regard to Reserves and resources at the Lamaque Mine! (2) Don't forget the 43-101 compliant study showed 1.1 Million ounces of Reserves and 3.4 Million ounces of resources at the Lamaque Mine! Gee, that is 1.1 Million ounces more Reserves than Shahuindo has and more than double the total number of ounces of "gold in the ground" claimed at Shahuindo!
If these "items" are the basis for Sulliden's application to the securities commission (OSC), then it sure appears as though SUE is wasting valuable resources with such a filing. CMM has prepared 43-101 compliant reports on the San Juan property, the Sigma Mine and now on the Lamaque property. They have also completed a 43-101 compliant report on the Reserves and resources at the San Juan Mine which is due out shortly. CMM is working on exploration at Rosario, which they need in order to prepare and file a 43-101 report. CMM isn't hiding anything and thus there is nothing that OSC can do to compel CMM to release information it doesn't have! Perhaps the OSC will file an order to require SUE to disclose the number of Reserves that exist at Shahuindo? It would make about as much sense because, so far Sulliden has not done that. How can Sulliden point the finger at someone for not providing a "full, proper and accurate disclosure?"
But the simple fact is that for the SUE BOD to issue a full advisory to shareholders to not tender their shares, they are required to seek an independent fairness evaluation by a certified business analyst. The problem is that it appears as though no responsible business analyst will give Sulliden a statement that says the deal is unfair. In other words, it appears as though the business analysts have looked at the deal and said, 0.72 shares of CMM (at any price) for a share in a bunch of lawsuits over a property IS A GOOD DEAL and to recommend against that would be irresponsible. At this point it appears as though all Sulliden owns is 1/2 of a set of lawsuits in Peru. Sulliden has lost the last several major parts of this legal mess. It appears as though the legal system in Peru isn't as refined as that in North America and that system (the Appeals Court) has made it clear in its ruling that the case is not in Sulliden's favor.
So it looks like Sulliden is desperate to do anything to blow up this deal and keep control. Too bad, as long-term shareholders have seen their investment dwindle to next to nothing, while law firms make money on the numerous lawsuits.
Gee, the Sulliden management should have looked for a "win-win" scenario way back in May when, the offer was 1 CMM share for each 1 SUE share, plus warrants and CMM was trading in the 0.80 to 1.00 range. But alas, the inability of these men to make a deal in 7 months lead to an offer that was much lower. Now it looks like their tactics of a "scorched earth" have cause both share prices to be under severe selling pressure - at least until CMM disclosed it has 4.5 Million ounces of "gold in the ground" at Lamaque.
Time to tell these men desperate to take a hike. Tender you shares so we can get rid of these guys that have caused nothing but damage and have nothing to show for it!
12/3