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No ship = no revenue.
Move dirt, pile ore all day. Until ore leaves the port on a ship, all we do is BURN money, not make it.
Pictures - ship - signed contracts with picture people = NO REVENUE.
No profit. Per PR, all money was distributed to bills, investors, and ongoing operations. 2nd shipment never was PR'ed as to what the distribution was. That was months ago.
800k volume yesterday. No it's not.
$3,600 or so in trades today and no movement on price from the open. Lots of folks weary at this point, as they should be. DD a-go-go!!
Look at today's volume. I think that speaks for where the sentiment is right now. Rollercoaster is over and this stock is dead until there is some communication direct from the company.
Good for you.
GLTA and don't forget your DD.
No thanks. I'm holding enough bags already.
No, as I said that is NOT revenue. Revenue is something you get AFTER you sell something. We have not sold it yet.
From investopedia:
"Definition of 'Revenue'
The amount of money that a company actually receives during a specific period, including discounts and deductions for returned merchandise. It is the "top line" or "gross income" figure from which costs are subtracted to determine net income.
Revenue is calculated by multiplying the price at which goods or services are sold by the number of units or amount sold."
Or covering - it hasn't been this low in a week or two...
They have VALUE, but they are not give any REVENUE. That only happens when we sell it.
Doesn't matter unless it goes over the rail into a boat.
We never heard how the proceeds from the second shipment were distributed...maybe bob kept it?? Who knows since we were never told. We could tell from financials, but we don't have those either. Here's the PR after the first shipment, sounds like it all went to bills and operating costs to me:
"Proceeds, distributed the revenues from its first bulk shipment of iron ore under the following percentages; 60% to ongoing operations, 30% to Project Investors and 10% to Management. The Project Investors recovered approximately 75% of their cash contributions; The Ensenada International Terminal was paid approximately $320,000.00 for receiving, storage, material handling and cargo loading, $356,000.00 was paid to Road-Runner Trucking, $1,115,000.00 was paid to COSFAR Bulk Cargo Shipping, $220,000.00 was paid in royalty fees and surface rights. The Company was also able to meet its obligations to PowerScreen of California paying a balance of $975,000.00 for the crushing equipment."
Living paycheck to paycheck. That's essentially what those two shipments did for us. It was all rolled back into bills and ongoing operations, it is NOT cash in the bank that we just have laying around.
spot prices only mean something if you sell at those prices. If we produce more then twice in a year, at that point it may be an advantage. Right now its not.
No contract = pictures are no big deal.
I have pictures with movie stars. So what?
Again with the 'good income'? CWRN shipped TWICE. That is not good income considering a years worth of work, gas, mine costs etc etc etc etc etc etc etc. Two payments in years is NOT good income. It's just income. If I only got paid twice a year, and had to give 90% of it away both times, I'd say I'm pretty cash strapped.
You mean with the people who's money the company is operating with? That would be us sir.
If I'm reading your post correctly, you are saying the same amount at the port that was less then what cotton wanted to ship is still the only ore at the port.
Guess that means I was right that trucking has not begun. Nuff said.
Unfortuantly, we have no proof that trucks are rolling besides 1 post by 1 person saying he saw trucks at the port that may be from the mine, or may not.
Can't take pictures of something you don't have, or have but are hiding. Better to take pictures of a dog, the mine from an airplane (which I'm sure that trip was charged to the company acct), or people visiting while they happen to be in Mexico on other business and their Gov't forces them to look at prospects no matter how small and unproductive.
He's grabbing it.. Inbetween siesta's, chatting on email, and taking pictures of machines with no one driving them. The rest of the time, he's steering himself all the way to the bank with a big bag for the rest of us to hold when he does.
yes, lots of volume so far. Shows what kind of confidence Bob is exuding...
did you read my post? I said no revenue SINCE august.
You mean shipping Ore? Well, pretty easy to do DD on that one - We aren't shipping, and aren't making money. Thanks!
Who cares about pictures? Show me a signed contract.
Feels like August in February!!
Why? Cause that's the last time we had revenue come in. And that is a non-disputable FACT.
Other things still outstanding since then:
1. 3rd shipment still hasn't gone out
2. No finacials
3. No uplisting, or even scheduling of shareholder meeting which was stated to come prior to uplisting, and notification of the meeting is a month+ before that!
4. No proof of 2012 export license
5. No proof of trucking since 2011
6. No proof that Bao steel or anyone else has made any commitments besides for visiting the mine and Bob. (Thanks for the pics, but I don't see anything signed by them).
7. No PR since November
8. No change in CE status, be it by uplisting or just giving the friggin info required to prove it wasn't warrented.
Add to that the big asks (1mil or so) up every day, and that all equals something fishy. As our CE tag says - Buyer beware!
All for it! I really do hope a PR comes out that makes us go to the moon and sets up a great 2012.
If I visit the mine and have my picture taken with Bob, and you find out where I work and what I do, would you then assume I'm going to buy the company, invest heavily, or sign a contract? Just because I had my photo taken there??
I'm just trying to be the voice of reason on this picture issue, but seriously take a minute to think about what big stories are being told behind each picture. Sure, could be something, but also could be nothing. That's all I'm saying. Do your own DD.
gtla
You are entitled to your oppinion, but mine will only take pictures of visitors and holes into the slightest of account. I want words from the company. I can visit a zoo and have a picture there, that doesn't mean I'm going to buy it or donate a million bucks to it, or buy a tiger from them every year.
Honestly, I tire of the pics, and anyone who wants real facts these days should too.
I want to see a PR with hard facts from CWRN about the state of the company and forward looking information, plus, an update on the outstanding items promised. Posing for pictures is great, but you take away from it whatever you want to dream up, but words on paper are factual and are the real deal.
Agreed. And just so you know, I was only being inquisitive, not trying to pick your response apart by anymeans.
AK: "AK Steel owns 49.9% of the new joint venture, named Magnetation LLC, which currently produces about 400,000 metric tonnes (441,000 short tons) of iron ore concentrate annually from a plant near Keewatin"
No info on the second
No info on the third
Bummer.
These are great examples, but I'm curious to dig in deeper to see how the mining companies stack up to our mining company on an apples for apples basis, like how many shipments they made in a year prior to being bought.
Check your facts, it IS one of the biggest. It's not the US where they handle as much as NJ, NY or San Diego, but it's still vital if you are a Mexican needing goods. And I guess all of the cruise lines that stop there don't count either? It's not a row boat dock like you want it to be.
Loan us money? Don't you remember - we have SOOOOOOOO much revenue according to many here. We don't need money from no stinkin bank! LOL
And last year's bogus buyout sure as heck don't count towards this either. (Gotta state that or else someone would have jumped on it..)
1.1mil on ask at .005 - Either someone trying to dump, or someone trying to hold the price down. You decide.
More DD for you to digest:
http://www.worldportsource.com/ports/MEX_Puerto_de_Ensenada_45.php
Good points. I'm glad not everyone things that Enseneda exists only to send CWRN ore to china. It's one of the busiest (if not THE busiest) ports in Mexico.
#4 - we haven't shipped since then!!
#6 - 'Apparently' says it all
#8 - If these profits went the same way as the first shipment, we have hardly any cash on hand.
#9 - Speculation. We haven't seen anything at all to suggest that. Financials are the only thing that would prove or disprove.
#10 - 'May have' says it all
#13 - so tired of hearing about how you can turn that picture into 1k words. SO WHAT!! The guy's JOB is to find new business elsewhere in the world, even if it means wasting time touring Bob's mines.
#14 - Yes, much better to do that then send out a PR to ALL shareholders who deserve it. yawn.
#15 - to a limited group who post them when they feel like it. Great!
#16 i'm not even going to bother with it's so funny.