Centurion Res Share Discussion Threads

[dealer55] 14/11/2013 07:58

Yeh I know, I have been done this time by a few grand already, but why did people invest, takeover is short erm shocker but te new investment wants to see a return at some stage, have to stick it now. The posters above are typical one liners wit an agenda. They are not trying to warn others.

[dealer55] 14/11/2013 07:58

Yeh I know, I have been done this time by a few grand already, but why did people invest, takeover is short erm shocker but te new investment wants to see a return at some stage, have to stick it now. The posters above are typical one liners wit an agenda. They are not trying to warn others.

[fludde] 14/11/2013 07:51

Australian and Chinese AIM shares are just a way of ripping off mug punters. A hole in the ground becomes a mine, an empty building becomes a sweet factory, a rowing boat a tanker.... anything to get your money. ;o)

[dealer55] 13/11/2013 20:01

Why post here then, move on chaps.

[rocco 80] 13/11/2013 15:56

It's already dropped 1000%

[smythy4] 13/11/2013 15:21

imo CEN still has a long way to drop. Held up by frothy hyped unrealistic assessments by BB rampers.

c further drop in price before this stablises. Meanwhile, plenty of other AIM shares taking off...

[fludde] 13/11/2013 12:40

Haha- FML so aptly named!

[vauch] 13/11/2013 11:43

smy. only 3 trades why post bull poo

[smythy4] 13/11/2013 08:18

CEn is looking increasingly grim. Pointless hanging on in here with SO many other stocks taking off on AIM and money being made hand over fist.

FML looks about to take off...overdue financial & op update due, & ex CEO forecasting mkt cap to increase by factor of 8 by end of next year!

Buy FML (big vols already today)..big update due today or tomorrow

[mistermagoo3] 12/11/2013 21:07

Centurion Resources: Clayton looks to Austria for his next big project
By Ian Lyall November 12 2012, 3:01pm Austria provides the backdrop for Clayton's latest project.Austria provides the backdrop for Clayton's latest project.

As a director of Extract Resources Alastair Clayton helped shepherd to a successful conclusion the $3 billion sale of the Husub Uranium project to the Chinese.

For those who backed Extract, and the company's major shareholder Kalahari Resources, it was a hugely lucrative deal.

Investors will be hoping Clayton can emulate this feat of value creation with Centurion Resources (LON:CEN), an Austria-focused copper exploration play that made its debut on AIM this morning.




With a market cap of around £2 million, there's a lot of work to be done. But as the company's chief executive describes the opportunity there should be plenty of excitement and upside from this very modest start.

He has behind him a very experienced board, including Peter Landau of Range Resources and Black Mountain, and Greg Kuenzel, of Noricum Gold, who are non-execs.

In fact it was Kuenzel who helped negotiate the deal to acquire an 80 per cent share in the Mitterberg licences, near Salzburg.

The 33 square kilometre project was the site of an historic copper mine dating back to the 19th century that finally closed in 1977 when the price of the base metal was on its backside.

In that time around 120,000 tonnes of copper are estimated to have been extracted as the underground mine tracked east to west along a gently dipping vein of high grade ore.

Mitterberg has a number of major advantages over green field exploration sites.

The first is that infrastructure such as tunnels and shafts are already in place, which allows the group access directly to the ore body. In all there are 40 kilometres of underground workings that track the vein for 11 kilometres.

Also, the Austrians were assiduous in compiling data from the mine, which means Centurion knows to a large extent just what it is acquiring and exploring.

It has a target of 11-11.7 million tonnes with a grade of 1-1.15 per cent copper.

Having raised £1 million via the IPO, the plan is to drill the western extension to firm up what actually lies beneath the surface.

Planning for the drilling programme will take place in the run up to the festive period, with work getting underway in the early part of next year (though probably not in January).

For a veteran of the African mining scene, hidden gems such as Mitterberg are something of a revelation to Clayton.

"We did Kalahari and Extract, which were pretty successful for our shareholders," says the Centurion chief.

"We were looking for something new to do. I was personally intrigued by the projects, which dovetailed with my interest in what's going on in mining in Europe, particularly central Europe and the Balkan region.

"There are some really quality assets that I hadn't realised existed having been very African-focused for seven years.

"And I spoke to some of the bigger metals trading houses who told us they had a lot of spare smelting capacity in Europe.

"They wanted to diversify a small proportion of their overall capacity out of Africa and South America. This spurred my interest.

"Centurion is a modest first step in terms of size of raising and the size of the company. It is reflective of where we are in a reasonably difficult market."

The plan is to add to the portfolio, though he is shy about giving away too many more details.

It is unclear just how the first 1,400 metres of drilling will change the perception of Mitterberg, though it is clear Clayton wants to compile a resource of some description very early on.

"I will have to wait until we have received independent advice. But we would like to design a first class programme that would give us some global JORC resource – that is an inferred JORC resource," he adds.

"Whether we can do that with the first drill programme across the whole deposit, or whether we zero in on a specific area to quantify a smaller part is still open to discussion.

"These are the decisions we will be making going up to Christmas."

"There is no geological reason why the deposit doesn't continue [to the west], but we have to prove this.

"We have a modest budget. But because of the historical record and the nature of the mineralisation we can cost effectively get to a position we can get to a position we can grow the inherent value of the project."

Austria is deemed a mining friendly address, which plays host to one of the world's largest tungsten deposits as well as being a producer of talc and graphite.

Ultimately the Centurion mine will be developed largely underground, with rock crushed, concentrated and shipped for smelting elsewhere. But this, Clayton emphasises, is a long way in the future.

In the meantime the value will be added via the drill bit. And he has some wry observations about the prevailing wisdom in the industry, which calls for early production.

"Everyone wants a mine, but nobody wants to pay for it," he says, referring to the inability of many companies to raise even a modest amount of debt for capital projects.

"I'm an exploration geologist and like nothing more than adding value by defining resources.

"Unless one has connections where you can start with £100 million you have to start from a small base and work your way up. And our shareholders will follow us as we grow the company."
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[rocco 80] 11/11/2013 20:52

No one gives a stuff with this bunch of thieves any more LOL

[slimey2] 11/11/2013 20:52

effing share....lol.....who would of thunk it

[buoycat] 11/11/2013 13:51

Lots of buying leading up to suspension.

[rocco 80] 11/11/2013 13:35

Suspension again haha will it come back and we will make all out huge losses back? Doubt it somehow ..

[pwhite73] 11/11/2013 13:13

It was a suspension pending a reverse takeover that led to the collapse of the company last time with existing shareholders losing virtually everything.

[slimey2] 02/11/2013 02:35

Rocco you may laugh...i hear its a toblerone mine....worth a fortune

[rocco 80] 24/10/2013 18:23

roll on 7p pmsl,

[vauch] 23/10/2013 13:23

Same as before nowt going on

[slimey2] 22/10/2013 04:15

nope....wake me up when its 7p so i can get my door prize

[stav5001] 18/10/2013 08:42

Is anyone still reading this?

[fludde] 05/9/2013 17:04

A fine breakfast!

[negotiated_raid] 05/9/2013 16:38

Lol, well last time I went there the lady let me sit in the Jag (think she felt a bit sorry for me). That food is going to be my breakfast so they better have some wine!

[fludde] 05/9/2013 16:28

On the Jag or on the food?