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Century Mining Posts Profit Of CA$1.9 Million

Century Mining (TSX.V:CMM) posted first quarter operating profits of $1.9 million on revenue of $11.2 million in its second year of operation.

Business Brokerage CEO Margaret Kent said: "We are very pleased with the continuing operating performance of our Sigma Mine, which has generated positive cash flow in three consecutive quarters. We expect further reductions in cash costs when our new truck fleet is commissioned. Our cash costs are decreasing on a Canadian dollar basis each quarter as the dollar is strengthening against the U.S dollar. The initiatives we took in the first quarter to reduce debt by expensing all costs related to the convertible debentures will have a positive impact on the balance sheet and income statement in the second quarter of this year.

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Forex Broker We are taking steps to build Century into a major gold producer with a solid asset base in Québec and outstanding production and exploration opportunities in Peru. Our stronger balance sheet will enable us to finance future growth on more favourable terms than were possible in the last 18 months. We are pleased that we are now building a solid base of institutional shareholders who understand management's niche in the industry and ability to add shareholder value by acquiring assets at a significant discount to typical industry valuation multiples. In Peru, we believe that we have purchased ounces in the ground, which we will be qualifying with an NI 43-101 technical report later this year, for less than US$7.50 an ounce. We believe that Century is well positioned to grow in value as we create and pursue new opportunities with our team of highly experienced mining and financial professionals".

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Online Brokerage Revenues are benefiting from the current rising gold price. The Company has reduced cash costs each quarter on a Canadian dollar basis at the Sigma Mine, but because of the weakening U.S dollar these reductions are not reflected in the industry standard U.S. dollar cash cost. The addition of four new haul trucks in June and July will increase the availability and productivity of the mining fleet considerably, facilitating the removal of waste in the open pit to expose new ore faces for mining. Further reductions in cash costs on a Canadian dollar basis are expected.

Although online brokerage has lost some of its cachet, firms have built a solid franchise. Trade Group Inc. (www.etrade.com) had its seventh straight quarter of operating profits in the first quarter, generating $19.4 million in earnings before a charge related to a change in accounting rules. Ameritrade Holding Corp. (www.ameritrade.com) had net income of $11 million in its fiscal first half, ended March 29.

Real Estate Broker A net loss of $1.3 million, or $0.01 per share, in the first quarter was exacerbated by approximately $1.6 million of items that were expensed, which were directly related to the senior debt that the Company incurred to acquire the Sigma-Lamaque assets and provide working capital during the bulk sample program, start-up and achievement of commercial production. Pursuant to redemption of convertible debentures in the first quarter, there will be no future related expenses.

Nash growth slows Carole Nash has seen a slow down in profit growth for the year ended 31 October 2005. tax profits rose 25% to £2.7m in 2005 up from £2.2m, while a year earlier the broker had reported a 64% hike in profits. Turnover in 2005 increased to £25.3m from £22.6m, while overall premium income, rose to £70.7m. The broker said it had made further appointments to its board to strengthen its position as a top 30 independent broker.

Agency Brokerage Spark After adding back the non-cash items that were expensed to the net change in non-cash working capital balances, the Company reported cash flows from operating activities of $0.9 million in the first quarter of 2006.

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Business Broker The Company is now in a much stronger financial position than at the end of 2005 after completing a number of initiatives this year. The Company has redeemed all the outstanding convertible debentures; completed a $25.0 million equity financing; and purchased the royalty on production at the Sigma-Lamaque Complex. These initiatives will have a positive impact on the balance sheet and income statement in the second quarter of this year.

Brokerage Account The company forecasts total production in 2006 of 100,000 ounces of gold. In 2007, Century says it will produce 130,000 ounces, and by 2008, 210,000 ounces.

Stock Broker Ms. Kent cautions that these are forward -looking statements.

Brokerage Online Stock Trading James West is an investor and writer who seeks out the best emerging publicly traded companies in the resource and energy sectors. He has contacts with senior management of the strongest oil and gas and mining companies on the TSX and TSX Venture.

Broker Justin Ticket He also publishes a newsletter at http://www.ResourcexInvestor.com

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