Centurion Stock Price Balloons on Update

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Monday, April 1, 2019

A Vancouver-based junior miner gave investors – those who have taken the plunge and those who haven’t – an update on its operations Monday, and the stock price told the tale.

Centurion Minerals Ltd. (TSX-Venture:CTN) reported that its Ana Sofia Agri-Gypsum Project is battling unfavorable external market conditions. Initially, said Monday’s news release, it was extreme weather conditions that reduced demand and currently it is severe economic conditions, specifically credit markets and inflation that have severely restricted the agriculture industry's ability to access credit.

The Company does not anticipate much activity in the industry until the market for fertilizers normalizes and the availability of credit returns, something it and its partners figure should be resolved by the time the year is out. In the interim, Centurion has taken steps to reduce the Ana Sofia overhead and the project is on standby mode.

Meantime -- on the more positive side -- the company is boasting contacts by several cannabis and hemp producers in Argentina and Uruguay about its OPTAMAGRO division and the application of its fertilizers to field grown and greenhouse cannabis and hemp production. 

The Company has retained an independent agronomist and legal counsel to commence planning related to the application of the OPTAMAGRO product and a detailed review of Argentine and Uruguayan laws regarding medical and recreational cannabis.

Folks must have liked what they heard in all this: they pushed the stock price up two cents, or 200%, to five cents, on volume crowding six million shares. 

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