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Date Posted: 01:53:39 01/03/04 Sat
Author: siempre
Subject: CGHI......from SiliconInvestor

Get ready to laugh....CGHI is based in some guys apartment in the West Village in NYC!

Investors buy dubious firms' stories, stock
Rising market spurs gush of attention for weak businesses with strong PR

By Aaron Elstein
Published on December 08, 2003

In the past three months, shares of Centurion Gold Holdings Inc. have more than doubled to $3.54 a piece in the slipstream of a global gold rally that has pushed the price of the precious metal to its highest level in nearly eight years.

But while gold is literally the company's middle name, 7-month-old Centurion possesses no cash, has never generated any revenue and has run up $46,000 in losses. The company's outside accountant admits that there is "substantial doubt" that Centurion can survive, and even a Centurion executive says that the company faces major challenges.

"The company has got great assets, but it's got to get them operating," says Rick Oravek, who identifies himself as Centurion's U.S. representative and whose West 11th Street apartment in Manhattan is listed in company filings as the firm's headquarters. "The reality is, they need to raise dough to open a real office."

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