I haven't posted here in a long time, because I didn`t think it would be of any particular help to anyone, but I have occasionally monitored the Board(s).
Obviously, anyone anywhere that has held shares in ANY Iron Ore dependent company over the past couple of years has had their head handed to them, and can only blame themselves for not having seen the ore price collapse coming. The signs were everywhere.
I don't think that Brad really wanted to get involved with the mess at CWRN, but was forced to act before the whole thing disintegrated and took him down with it.
Regardless of what some here might think, I know that Brad is still trying mightily to resurrect Panamerican/CWRN, but that isn't easy when you are faced with trying to deal with numerous inherited lawsuits, California judges and absurd Government intervention in both Mexico (Export licenses) and the US (SEC trading freezes) which were completely out of his control, and even if he beats that all back, it will all be for nothing unless the price of Iron Ore recovers to at least $100 CFR China. I've learned a lot about this business (mostly just reading) over the past few years and I kinda' agree that mining Guadalupe is probably a waste of time and money at a lower price. Dozens of small mines all over the world have closed and won't re-open until it reaches that level because they can't get any financing without that kind of price guarantee.
In his case, I don't blame him since he lost $3 Million on the last ship loaded when the price collapsed from $110 to $80 between the time they signed the contract and the ship arrived in China and the final price was set. Ouch!! BTW that loss includes the discounts Baosteel applied for the high silica and low Fe content of the ore that Bob had produced. That came straight from one of his partners who showed me the paperwork.
Finally, I think some here should give up posting ancient pics of mining trucks and backhoes that ALWAYS were rented from CAT or others, and piles of waste material (excuse me, Fertilizer) which can't be sold in enough quantity to bother with it.
I actually saw Brad at a fancy local restaurant (just 2 weeks ago) playing host to some "investors" from Dubai (he paid the check) who said they were interested in making a "long term" investment to build a pellet plant and a steel mill. So I guess he is still running down the options. Do you expect him to keep a bunch of Ihub posters informed about every twist and turn. Only people like Bob do that when they are trying to sell stock. As Penny Stock investors, we all know that CWRN is a Non-Reporting company and Brad has no legal responsibility to keep us informed, and especially when there is nothing "noteworthy" to pass on.
If he gets lucky, you'll probably get lucky. If not, you had your chance to sell and didn't take it. Grow up.
And say a prayer for Brad. I don't envy him his task. Or his lawyer bills.
Have a Happy 4th. I'll go back into my cave now.
AI
