Century Announces Filing of Third Quarter Financial Results and Management Discussion and Analysis
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THE UNITED STATES OR TO U.S. NEWS AGENCIES
For Immediate Release TSX: CNT
CENTURY ANNOUNCES FILING OF THIRD QUARTER FINANCIAL RESULTS AND
MANAGEMENT DISCUSSION AND ANALYSIS
Toronto, Canada, February 08, 2018 – Century Global Commodities Corporation (“Century” or the
“Company”) is pleased to announce that it has filed its condensed consolidated interim financial statements
for the third fiscal quarter ended December 31, 2017 and the related management dis cussion and analysis
(“MD&A”). Copies of these documents are available under Century’s SEDAR profile at www.sedar.com and
will be posted on Century’s website at www.centuryglobal.ca.
The Company reported substantial working capital of C$24.9 million, which included cash, bank deposits and
an investment portfolio of C$14.2 million (not tied to any funding commitment for any project development),
receivables and other current assets of C$11.6 million, and an account payable of C$898K as at December 31,
2017.
It is interesting that the iron ore market began and finished 2017 at roughly the same price points (US$77.6/t
and US$74.0/t respectively). But in between, there were two mini -cycles, peaking close to US$95/t first in
February/March and then close t o US$80/t in August. There were two troughs below US$60/t in June and
October. The commodity was recovering from the second trough down cycle by December and stabilized
around the mid-$US70s for most of January 2018. We are maintaining a market observer position for our iron
ore business while retaining a small, lean mining team ready to rapidly advance our iron ore projects once a
sustained market recovery is evident.
During the fall of 2017, the Company executed a gold -focused field exploration program on certain mineral
claims accumulated and acquired directly from the government by staking (held under a 100% owned
subsidiary, Trudeau Gold). Exploration activities by Trudeau Gold consisted of geological reconnaissance
prospecting on all three claim groups , followed by a line -cutting and a ground induced polarization survey
over the Fabie claim group. The objective of the exploration program was to conduct a preliminary
assessment of the mineral potential through the verification of historic data on site, prospecting and sampling
to understand the background of the delineated mineralization, and an induced polarization survey over the
Fabie area to delineate anomalies for further exploration. The results of the Fall 2017 exploration program
confirmed the character of this early stage project of sufficient merit to warrant a further staged exploration
program designed to identify, prioritize and test exploration targets on the three separate claim groups.
Regarding our quality food business, we have successfully established a marketing and distribution network
covering some strong international brands . This has attracted more international suppliers, offering us
increased product opportunities that should form the basis of continued growth.
The following table shows the rapid growth of our food business since the beginning of calendar year 2016,
when sales began . G rowth has been solid, continuous and substantial over eight consecutive quarters.
Continued growth is expected as our customer base and product sourcing continue to expand.
About Century
Century Global Commodities Corporation (TSX:CNT) is building shareholder value through existing and
entrepreneurial business units that meet continuing and growing demand from China, the largest market in
human history.
Iron Ore
With WISCO and Minmetals, both Global Fortune 500 companies, as Chinese strategic partners, Century owns
one of the largest iron ore mineral resource bases in the world, across five projects in Quebec and
Newfoundland and Labrador. Joyce Lake, a direct shipping ore project in Newfoundland and Labrador, is our
most advanced project. It has completed feasibility and permitting studies and can be brought to production
within approximately 30 months. We are maintaining our properties ready for a return to sustained higher
iron ore prices.
Base and Precious Metals investment
Century is monitoring investment and acquisition opportunities in the base and precious metals sector. When
the right opportunity presents itself, our strong balance sheet will allow us to invest or acquire cost effective
Jan-Mar
2016
Apr-Jun
2016
Jul-Sep
2016
Oct-Dec
2016
Jan-Mar
2017
Apr-Jun
2017
Jul-Sep
2017
Oct-Dec
2017
Sales (C$) 87,165 131,255 349,217 419,321 525,631 649,433 720,488 841,660
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
C$
Sales Trend, Food Business
assets during the current modest base and precious metal price cycle , positioning ourselves for gains when
the market improves.
Quality Food Services
Quality food products sourced from advanced countries are in great demand from the quickly-growing middle
class in China. The emphasis is on the need for safe, high -quality food products. Century has established a
professional marketing team and built a distribution system to serve Hong Kong and eventually throughout
China. Initial successes include contracts with one of the largest egg pro ducers in Australia and supply
contracts with hotels, restaurants, grocery chains as well as an international airline.
For further information please contact:
Sandy Chim, President & CEO
Century Global Commodities Corporation
416-977-3188, ext. 109
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IN ACCORDANCE WITH APPLICABLE LAWS.