Cautionary Note Regarding Forward Looking Statements
This website contains information and statements that could be characterized as “forward-looking information” under the provisions of Canadian provincial securities laws. When used in this website, words such as “believe”, “intend”, “may”, “will”, “should”, “plans”, “anticipates”, “believes”, “potential”, “intends”, “expects”, “estimates”, “forecasts”, “likely”, “goal” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements reflect the current expectations and assumptions of management of Century Global Commodities Corporation (the “Company”), and are subject to a number of risks, uncertainties and other factors which may cause actual results or performance to be materially different from any anticipated future results or performance expressed or implied by forward-looking statements.
Forward-looking statements in this website include those that relate to statements about matters that include:
- the Company’s overall strategy and plan;
- the Company’s exploration and development plans for its mineral projects;
- the Company’s plans to list and finance Joyce Direct Iron Inc. on the NEO Exchange;
- the plans of Joyce Direct Iron Inc. to advance the Joyce Lake project towards development;
- the ability of the Company to carry out its current planned exploration programs and development plans with its current financial resources;
- the estimates of operating and capital costs in connection with the Company’s exploration and development plans;
- the estimates of mineral resource and the identification and analysis of mineral deposits;
- the ability to identify new mineral resources and convert existing and new resource estimates into mineral reserves;
- the costs, timing and location of future drilling and other exploration activities;
- the expected results of exploration activities;
- the expected costs, timing, location and economic performance of development of the Company’s mineral projects;
- the results of the feasibility study and preliminary economic analysis and projections regarding net present value, internal rates of return, payback periods, mine life and estimates of operating, capital and transportation costs of certain of the Company’s mineral projects;
- the ability of the Company to obtain all required licenses, permits and other governmental approvals;
- projections as to future iron ore prices;
- the supply and demand of iron ore in international and other markets, and general economic conditions in the iron ore market;
- contractual commitments of and affecting the Company;
- estimates of environmental and reclamation expenses and any required environmental approval processes;
- the availability of required manpower;
- the Company’s funding requirements or commitments relating to its non-ferrous activities and other strategic initiatives to expand the Company’s scope of activities beyond exploration for and mining of iron ore;
- the evaluation and identification of prospective transactions arising from the Company’s review of strategic options and consideration of its available working capital;
- the Company’s ability to diversify its business by successfully expanding into businesses outside of mineral exploration and development of iron ore;
- the anticipated benefits, timing, actions, costs and investments associated with efforts to diversify the Company’s business in new areas including the food business in Hong Kong which the Company has been pursing for several years and which is continuing to grow revenue;
- the ability of the Company to access capital markets to raise additional capital; and
- the expected uses of the Company’s available funds.
Such forward-looking information is necessarily based upon a number of factors and assumptions that, while considered reasonable by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The assumptions underlying the forward-looking information in this website, which may prove to be incorrect, include, but are not limited to, assumptions relating to:
- the Company’s business strategies with respect to its iron ore, non-ferrous base and precious metals, food and other business ventures, including exploration and development plans;
- the costs of implementation of the Company’s business plans and exploration and development plans;
- the availability of sufficient capital to enable the Company to carry out its business strategy and exploration and development plans;
- Joyce Direct Iron Inc. will be accepted for listing on the NEO Exchange and will be able to complete an initial public offering of its common shares;
- Joyce Direct Iron Inc. will achieve the required funding to advance the Joyce Lake project towards development;
- the state of the economy and the mineral exploration industry in general and global demand for iron ore;
- world economic conditions and supply and demand of commodities, as well as related economic conditions in China;
- the provision of goods and services by contracted parties on agreed timeframes, plant and equipment work being advanced or otherwise functioning as anticipated;
- the accuracy of the estimates of mineral resource included in the NI 43-101 technical reports on the Company’s material properties;
- the accuracy of the projections derived from the feasibility study of the Company’s Joyce Lake Property included in the NI 43-101 technical reports on this property;
- the accuracy of the projections derived from the preliminary economic analysis of the Company’s Duncan Lake and Full Moon Properties included in the NI 43-101 technical reports on these properties;
- the results of future exploration and development programs will be consistent with results and estimates included in the Company’s NI 43-101 technical reports on the Company’s material properties;
- that aboriginal rights will be settled in a manner that will enable the Company to proceed with its planned exploration and development programs;
- the Company will be able to obtain the required regulatory approvals necessary to enable it to proceed with its exploration and development programs;
- the Company will not encounter any unanticipated geological or technical problems in carrying out its exploration and development programs;
- the price of iron ore remaining consistent with the Company’s expectations;
- there will not be any material adverse events or changes outside the normal course of business for the Company;
- the competitive environment for iron ore, other base and precious metals, food products and technology and financial services worldwide;
- the cost of compliance with health standards in particular with respect to the quality food products the Company intends to distribute in Hong Kong markets; and
- regulatory compliance requirements as they apply in particular to the distribution of food products in Hong Kong.
No assurance can be given that these assumptions will prove to be correct. These assumptions should be considered carefully by readers. Readers are cautioned not to place undue reliance on the forward-looking information and statements or the assumptions on which the Company’s forward-looking information and statements are based.
Forward-looking information is subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements. Such risks include, but are not limited to:
- the market price for iron ore may not be sufficiently high to ensure that the Company’s planned mining projects will be economically viable;
- the Company may not be able to commercially develop any of its mineral projects or other businesses and achieve revenues or, ultimately, profitability in these areas or overall;
- the Company may not be able to access sufficient capital to carry out its business plans, exploration and development plans;
- the Company may not be able to fund the exploration and development of the Company’s mining projects;
- Joyce Direct Iron Inc. may not be able to complete an initial public offering on the NEO Exchange;
- Joyce Direct Iron Inc. may not be successful in advancing development of the Joyce Lake project;
- the Company may not be able to make its commitments under its joint venture agreement for the Duncan Lake Project, with the result that the Company’s interest in this project may be diluted;
- the Company’s joint venture partner for the Duncan Lake Project may not be able to fund its pro rata contributions for the exploration and development of the Duncan Lake Project;
- the Company’s exploration and development costs may be higher than anticipated;
- the ability of the Company to comply with all required permits, licences and regulatory requirements in carrying out its exploration and development plans;
- the Company may realize unanticipated or adverse results from its exploration activities, including unfavourable drilling results, that may indicate development is not warranted;
- the Company’s mining projects may not achieve projected rates of production, cash flows, internal rates of return, payback periods or net present values;
- changes in governmental regulation may adversely impact the Company’s plans to develop its mineral projects;
- there may be lack of adequate infrastructure to support the Company’s mineral projects, including adequate transportation infrastructure required to transport produced iron ore to market;
- the risk that title to the Company’s material properties may be impugned;
- environmental risks, including risks associated with the completion of any required environmental impact assessments;
- economic uncertainties, including changes and volatility in global capital and commodity markets which may impact the ability of the Company to raise capital to execute the Company’s business, exploration and development plans and the demand for the Company’s planned mineral projects;
- competition from other mineral exploration and mining businesses;
- the inability of the Company to reach agreements with affected aboriginal communities under terms that are acceptable for the Company;
- uncertainty of mineral resource estimates, exploration potential and mineral grades;
- any required change in mineral resource or mineral reserve estimation methodology; and
- changes in the assumptions underlying the mineral resource estimates, which may result in a different (smaller) mineral resource estimate and other related matters.
Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements.
The forward-looking information and statements contained in this website are made as of the date hereof and, accordingly, are subject to change after such date. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
Cautionary Note Regarding Technical Information
This website contains disclosure of scientific or technical information for the Company’s mineral projects that is based on technical reports for each of the Company’s material properties. It also contains disclosure derived from public announcements of exploration results issued by the Company. Each of these reports and public announcements was prepared in accordance with National Instrument 43-101 – Standards for Disclosure for Mineral Projects of the Canadian Securities Administrators, by or under the supervision of “qualified persons” (as defined in that National Instrument).
Any mineral reserve or resource figures, and scientific, technical or projected economic information or estimates referred to in this website are estimates, and no assurances can be given that the information will materialize. Such information is based on expressions of judgment based on knowledge, mining experience, analysis of drilling results and industry practices. Valid estimates made at a given time may significantly change when new information becomes available. While the Company believes that the information included in this website is well established, the information by its nature is imprecise and depends, to a certain extent, upon statistical inferences which may ultimately prove unreliable. If such estimates of such information are inaccurate or are reduced in the future, this could have a material adverse impact on the Company.
This website uses the terms “measured”, “indicated” and “inferred” mineral resources. Mineral resources are not mineral reserves and do not have demonstrated economic viability. Furthermore, “inferred mineral resources” have a great amount of uncertainty as to their existence, are estimated on limited information not sufficient to verify geological and grade continuity or to allow technical and economic parameters to be applied, and are subject to great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Estimates of inferred mineral resources may not form the basis of feasibility or other economic studies. Readers are cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or legally mineable. Readers are also cautioned not to assume that all or any part of measured or indicated mineral resources will ever be converted into reserves.
Cautionary Note Regarding Non-IFRS and Other Financial Measures
Certain financial measures used by the Company to analyze and evaluate its results are non-International Financial Reporting Standards (“IFRS”) financial measures or ratios. Each of these indicators is not a standardized financial measure under the IFRS and might not be comparable to similar financial measures used by other issuers. These indicators are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Further information on the non-IFRS and other financial measures included in this website is provided in the section “Non-IFRS and Other Financial Measures” of the Company’s latest Management Discussion and Analysis which is available on SEDAR at www.sedar.com or on this website.