Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
invest, seems they turned off the drip by turning it into a flood. Two equity purchase agreements to replace 1.
Seems I was wrong about one thing though. I was thinking they may have changed from river north because they were gonna get a better deal. A quick read suggests the terms of the new agreements are more dilutive, not less.Looks like the reason for the change was to enable the dumping of more shares.
Lets see, 10,000,000+ shares to Hoppel and 100,000,000+ shares to L2. Gets them to their goal of 500,000,000 shares outstanding. Ol stumbelton likes to keep on top of things so I expect there will be an increase of authorized shares to 600,000,000 or 750,000,000 by August.
another possibility is they sign another meaningless contract for the purchase of concentrates with great fanfare. They have done this many times in the past, however, these contracts never ever result in any income. But it don't matter. Certain shareholders will lap up the news, get all excited and consider ecpn saved. Then absolutely nothing will happen and the contract will be forgotten.
git, they can't come up with enough inquart to fake significant production. That's why they haven't had significant production to date and why they will need excuses for no significant production in the future. I have already posted the probable excuses they will use.
So why did they cancel the river north equity financing? Because they have lined up some investors to take private placements or lend $ convertible to shares.
They did not need to cancel River North, they could have just stopped using it. The made a point of cancelling it to fool investors into thinking they did not need to continue the massive dilution. They may have secured a slightly better deal with the private investors than they had with river north, but massive dilution will continue.500,000,000 shares outstanding coming up soon!
But git that was not a testing method, it was their production method, they actually had people believing they were gonna fire assay the 141,000,000 tons ton by ton.
git, the only way they have been able to recover metals is to grind up dirt, mix in inquart and collector metals and then melt the mixture in a big furnace. Kind of an oversized fire assay. Doing this the collector metals melt and picks up some of the inquart then sinks to the bottom of the melt and when it solidifies they have a lump of metal for investors to marvel at. They call the lump a "dore bar". They called the method the Sunprancer method and I think they were gonna patent it as a new method for extracting money from investors pockets.
invest, nah, better to post the one below from 2 years ago which clearly indicates what investors can expect from the PR which came out today.
January 14, 2015 07:15 AM Eastern Standard Time
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTCQB: ECPN) announced its financial outlook for the fiscal year ending September 30, 2015. ECPN expects to book revenue from sales of precious metals concentrates derived from head ore mining in the quarter ending March 31, 2015.
The Company plans to mine 350,000–400,000 metric tons in Fiscal 2015, yielding gross revenues from the sales of its precious metals concentrates of $22–26 million. El Capitan expects such revenues to yield $4.5–5.3 million of pre-tax profit for fiscal 2015 with a cumulative positive pre-tax profit expected in the quarter ending June 30.
John F. Stapleton, Chairman of the Board of Directors of ECPN, stated: “Our continued dedication to mining operations at our El Capitan property is delivering expected tangible results. We will continue to work with our valued partners as we progress with our plan to profitably operate the mine for our shareholders and as we seek a buyer.”
What excuses will ecpn have for non-production of significant PMs?
1. Plant start up problems.
2. Permitting problems for the plant (these worked good for the mine)
3. ore compatability problems
4. dirt shipment problems
5. purchaser contract delays
6. all of the above
I think they will rely on 2. permitting problems for the plant. Permitting problems worked out good for the mine. The advantage is they can be designed to last a long time and shift blame for delays from management to the government. The decision to site the plant in Phoenix was no doubt driven by the huge potential for permitting delays and shutting down of the plant by regulatory agencies. If the government is too slow in this regard then they can always ramp up the noise or dust levels in order to get shut down by civic organizations.
the only thing that ecpn needs to take precious metals to market is precious metals, They have none, a new pilot plant does not change that. No significant production on PMs in March, April ... 2999.
fummey, I guess you want to contact admin cuz you are fuming about the truthful negative posts here and want them deleted. Might work.
ecpn cancelled its equity financing deal with river north but have money for only a month. They did this to fool investors into believing ecpn would not need any more equity financing because ecpn was gonna have revenue from PM production. Well guess what, ecpn will always need equity financing to stay alive cuz they are never gonna produce significant PMs from el cap.
So where is ecpn getting the equity financing? From some numbskull private investor(s). Such investors are out there, just look at sister scam srch.
git, don't worry about ol scamdog ager, he has done quite well selling non-existent nano-metals.
irld don't talk about them other PGEs because they have learned that mentioning more than one confuses the heck out of their shareholders, and they need to switch things around once in a while. Their barren lakebed will no doubt be full of osmium one day.
Invest, It is not clear to me what the latest sec filings are saying. What is clear to me is there will never be any significant production of PMs from el cap, even though they announced the start of significant production of PMs from el cap over 2 years ago.
December 16, 2014 "The Company (ecpn) reports that it has begun transport for delivery of its precious metals concentrates."
“Attaining these significant milestones is a fitting opening to a year of accomplishments and sets the Company up for building its profitability through 2015.” says johnnyboy while staring shareholders straight in their eyes without blinking. It takes quite and accomplished liar to pull that off.
git, the scammers need money so are using the ol tried and true make believe paladium method. It worked a bit. Got their share price to pop from 0.06 to 0.14. Be interesting to see if they can raise the $5,000,000 they are trying for by repricing about 100,000,000 options and warrants on announcement of the make believe paladium. Good news is that ol scamdog ager hasta take some of the money irld owes him in worthless shares
Anyone doubting that johnnyboy’s nose is longer than a telephone wire, should have a gander at the 10-K coming out next week. It will document continued ecpn share dilution. Fiduciary duty would force johnnyboy to sell the concentrates in storage rather than dilute, if those concentrate were worth the $3.6 million he says they are worth. But since he is lying about the value of those concentrates and they are not worth $3.6 million but instead worth nil, he has no choice but to sell shares at low prices causing massive dilution. Not that it matters. Ecpn mining properties are worth nil. Nil/400,000,000 is about the same as nil/500,000,000
ecpn have announced the start of profitable production of PMs numerous times over the last 12+ years, There never has been any. ista has a perfect record predicting there will be no production and explaining exactly why there has never been any real production from el cap and why there never will be.
While the vast majority of longs lack the moral fiber necessary to admit ista has been right all along, there are more and more of them coming around to the inescapable conclusion that they have been scammed and there will never ever be any real production of PMs. Most of these people will want to escape from the ecpn bad dream and write off their losses and disappear. Others will continue the to believe the lies of management and descend further into their delusional fantasies.
Will any ripped off long go after the culprits that stole their money?
10, It is going up on very low volume. It doesn't mean much. I certainly does not mean that ecpn in about to produce significant PMs. The share price popped to $0.25 less than 6 months ago very very briefly based on nothing. I think current buyers are buying hoping to sell into another pop like that.
What is certain is they will never ever produce any significant revenue from PMs from el cap. Eventually the accelerating dilution and debt will catch up to them and the share price will collapse to nothing.
Pan, the CEO of ecpn realized what was there in Feb 2009 and put a PR out about it. Look it up. Management went back to chuckiepoo and he brought the lies back with stumbletons help. They will have no significant revenue from el cap PMs by March 31 or ever.
ecpn management will encourage you to keep moving your deadline. Stick to your deadline and stick it to management.
pan, they been a processing dirt since before 2005. They can process dirt until they are blue in the face but they will never make any money because there are no PMs in the dirt. The best you can hope for is that ol Randy has enough inquart left to fake a tiny bit of PM production. This might pop the share price for a short period. So keep your clicker poised over the sell button. The window is likely to be very small.
There seems to be a form of mass delusion amoungst longnuts that "resolution" of the "road" issue will result in sale of el cap to a major mining company. This delusion reveals an incredible depth of the naivety in these longnuts. If interested a major mining company would be looking at the potential to build a huge mine at el cap. The current ecpn-FS negotiations are completely meaningless in this scenario. A large mine development would require a extensive EIS and many discussions and negotiations with a wide range of state and federal agencies. The current discussions by ecpn over a minor road issue with the FS, which ecpn is dragging out as much as possible, have no relevance whatsoever to a major mining company. Nor does ecpn's tinker toy fake production show.
Git, That's the guy. Regarding his problem with sec, he would say he was just being innovative by finding a new way to buy low and sell high. But as far as his days in court go he has probably been more often the plaintiff than defendant. Seems to get a bit testy when financially screwed and not afraid to sic his lawyers.
He lent ecpn $500,000 and possibly a fair bit more. Was paid back in shares. He also bailed out chuckiepoo from his bankruptcy for chuckies shares. No doubt he was told the fairy tales about big PMs at el cap and believed them since he has no mining background. I think he would be quite a bit underwater at a share price of $0.05. So when the truth comes out and he realizes that he has been lied to and made a fool of, he is the type of guy that just might forcefully go after the people that lied to him - ecpn management. Since many other ecpn shareholders are in the same boat I think he would have quite a loud cheering gallery.
Git, there is blatant wrong doing, but the sec won't go after the wrong doing. The best hope for shareholders is if someone like Ira Gaines gets mad when he realizes how badly he was lied to and decides to get even.
Git, panipoo is a perfect example of what I am talking about, A bit before he gave his March 31 deadline he had a "firm" December 31 deadline. He will next have a June 30 deadline. Hitting him over the head with the obvious seems to have absolutely no positive impact on his logic skills.
Pan4Au Tuesday, 11/15/16 01:04:15 PM
Re: georgeiporgi post# 955
Post # of 1088
Sure Georgei I apologize for not sharing my thoughts. If they don't have revenues by the end of December then I will consider this a lost cause. If they never generate revenues (say within a year) the SEC and FBI should investigate, and if anyone committed a crime they should be tried and spend time in jail if convicted. That would be up to the Courts.
BTW - I don't think any of this will happen. I think they will have revenues by Dec. 31st just like they said. No criminality here.
Git, Who wrote that? There have been many similar statements over the years by longs saying enough is enough. But in the end they never do anything and just let management continue the deception that el cap is a PM deposit. I guess they really don't want to hurt managements chance to lie one more time well enough to cause a run up in the share price they can sell into.
Ring, hording $3.7 million of concentrates while diluting shareholders by selling millions of shares at 4 to 5 cents does not make any sense if the concentrates really had value. The ecpn financials agree with ista's assessment that those concentrates in storage have no value. Why the sec lets them report a mde up value in a PR but not in the financials is a mystery. Also a mystery is how some shareholders can continue to buy into the continuing BS put out by ecpn.
invest, if the ecpn was even remotely right about what they say about el cap, then major miners would have been fighting over it since 2005. Presentations to mining companies began way back then. These companies do not ignore real PM deposits.
Git,
A chunk of the mining and exploration expense went to pay larry a big fat commission for selling ecpn the new widget. He worked hard for it so he deserves every penny. After all he is well organized, he got his man dupin dave inside the operation to dupe shareholders. I wonder how much a cut of larry’s commission ol dupin dave got for his part in the pilfering of shareholders. Prolly chuckiepoo got a cut too.
unequivocal certainties - no progress = no PMs, fake progress = fake PMs, BS progress = BS PMs
A decade of ecpn non-progress
December 30, 2016 07:15 AM - the year of dupin davidson
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc., (OTCQB: ECPN) announced today that it has completed several objectives that will poise the Company for production, sales, and anticipated profitability early in the new year.
In related news, the Company announced that its pilot ore-processing plant is expected to be in full production as soon as the new equipment arrives on site and is operational. The Company anticipates that the equipment will be operational within weeks of installation at the plant site and full production is expected to be realized thereafter.
January 14, 2015 - the year of tangible production of nothing
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. expects to book revenue from sales of precious metals concentrates derived from head ore mining in the quarter ending March 31, 2015.
“Our continued dedication to mining operations at our El Capitan property is delivering expected tangible results.” The Company plans to mine 350,000–400,000 metric tons in Fiscal 2015, yielding gross revenues from the sales of its precious metals concentrates of $22–26 million, while continuing to stockpile its iron ore until prices become more favorable. El Capitan expects such revenues to yield $4.5–5.3 million of pre-tax profit for fiscal 2015.
January 06, 2014 – the year of bold strategic non-production of iron
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTCBB:ECPN) today announced it will commence on-site mining operations that will separate and sell the iron ore from its New Mexico mine. This bold and strategic step is a result of the impressive results from its refined precious metals recovery process and the opportunity to offset the costs of mining by selling the high-quality iron that represents a significant part of the El Capitan ore.
January 4, 2013 – the year of the super duper investment banker, the strategic very last step
Dear Shareholders:
Our Company, El Capitan Precious Metals, Inc., had a very eventful 2012. We are now in the last step of our strategic plan, having the investment bank market the El Capitan property.
Chuck Mottley, President and CEO
March 22, 2012 - the year of awareness of significant strides to nothing
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTC/BB:ECPN) confirms the engagement of TEN Associates, LLC, an Investor Relations firm located in Newport Beach, California and Phoenix, Arizona. The IR firm is charged with heightening national awareness of El Capitan Precious Metals, Inc.
March 17, 2011 - the year of wendell the loon decomposition process
We are making progress in our research and development of the assay and extraction process of the El Capitan Property. ECPN has recently entered into a joint agreement with Wendell and Co. who is the developer of the precious metals assaying and extraction processes we are using. The results from Wendell and Co. on samples taken from the Company’s previous drilling project have been very encouraging.
The thermal decomposition process that Wendell and Co. has developed has exceeded ECPN’s minimum requirement of precious metals recovery and therefore we are moving forward.
March 30, 2010 - the year of resurrecting muttley and the scam
Approximately a year ago El Capitan Precious Metals (ECPN) was virtually bankrupt with its stock selling for pennies and a management team with no plans for the future.
Since that time the Board of Directors and Management have been replaced with John Stapleton chosen as the Chairman of the Board, Jim Ricketts as a member of the Board and Steve Antol as Chief Financial Officer. I came out of retirement to again assume the role of President and CEO.
February 04, 2009 - the year of truth (oops who the heck let an honest person onto the board?)
RENO, Nev.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTCBB:ECPN) reports that confirmation test work performed at a major commercial laboratory failed to duplicate the encouraging gold leaching results reported on December 10, 2008. The assay results from the confirmation test work indicated gold head grades of less than 0.004 troy ounces per standard ton. The confirmation test work used four 500g composite samples from El Capitan deposit drill hole material, all of which were finely ground (80% passing 17µm) prior to initiation of a 10-day leach cycle.
Ken Pavlich, ECPN President & CEO, stated, “While we know that the test procedures used were not precisely the same as those employed last fall that led to the positive results discussed in the December press release, we have every confidence in the personnel, equipment, and procedures involved in the current set of leach tests performed at this Canadian laboratory. Consequently, there is no reason to question the accuracy of the reported results.”
February 13, 2008 - the year of larry getting his big payout
RENO, Nev.--(BUSINESS WIRE)--El Capitan Precious Metals, Inc. (OTCBB:ECPN) announced today that ECPN and Gold and Minerals Company, Inc. (G&M) have signed a merger agreement under which G&M will merge with a wholly owned subsidiary of ECPN, and G&M shareholders will receive ECPN common stock in exchange for their G&M stock.
April 10, 2007 - the year of accereration and the timely development of the hidden value of the biggest gol darn PM deposit in the USofA
Mr. Mottley said, “I am very pleased that Ken Pavlich has agreed to join ECPN at this critical time in the Company’s history. His experience in the management, evaluation, development, and operation of precious metal mines will be critical to the strategic goal of developing the El Capitan resource. I am confident that Ken is the right choice to lead the ECPN team in the effort to fully capture the value of the El Capitan deposit for our shareholders.”
When asked about his vision for the Company, Mr. Pavlich noted, “ECPN is a company with tremendous potential, and it will be my job to make it possible for the team to achieve that potential in a timely fashion.
Fundamentally, my challenge does not entail changing the direction or goals that have been set by Chuck Mottley and his team, but rather to accelerate the pace of the movement toward those goals.”
to sucessfully sell el cap for more than $0.03, ecpn do not need permissions for using 20+ ton trucks on the road, a new widget, duper davidson, a snowless winter, more signed contracts or any of the other things that they have claim have held them back. All they need is PMs. They got none.
After 20 years of intense study of el cap, ol chuckiepoo can’t tell you what the Au:Ag:Pt ratios are , what the grade is or the form of the PMs. He remains as dazed and confused as ever. He is occasionally heard mumbling to himself “nano nano I’m a bannano” over and over.
A proof that they have no idea about metallurgy and are just lying to shareholders is the fact that they have never ever provided any information on recovery rates. What is the % of gold that remains in the tailings of any of their various concentration processes. Even that charlatan DD will not try to answer that.
git, copper concentrates generally run around 30% Cu or 600 lbs per ton or $1,200 of metal value per ton. 12 opt gold is worth $14,000/ton. Point being that there is a lot of profit to be made by all involved when smelting 12 opt Au concentrates (or even 0.4 opt). Throwing them away or shoving them in a corner and instead selling $0.05 shares is beyond ludicrous. Unless the gold content of the concentrates is actually nil (which it is).
git, the first concentrates were reported by ecpn to be 12 opt Au in 200 tons of concentrates derived from a head grade of 1.2 opt. That is more than $2.7 million in contained gold. And I don't think that included the gobs of silver and platinum in the dirt. In the end they threw the concentrates away or shoved them into a corner cuz they couldn't sell them. You know any smelters that would not buy 12 opt Au concentrates in an instant??
well they got a shipping manifest in hand and are doing some wiring and plumbing. Fantastic news. But I wonder why they need this new machine when they been a producing fantabulous high grade concentrates since 2004 without it? Sure is a head scratcher. But if you assume ista has been right all along it makes perfect sense. Just another in a very long line of made up excuses for no PM production so they can keep dumping more shares on the unsuspecting.
A2Z, some of the people with influence on the admin are allergic to the truth so you may hafta prove you are not ista before they let you join.
git, The warehouse made the receipt out for the value they were told by ecpn/logistica to make it out for. The warehouse did not valadate the value of the concentrates in any way. The warehouse is a storage company, not a company that values mineral concentrates. The lie that the concentrates have a value of $3.7 million is grossly audacious, shameless and unprincipled. Shows the true nature of johnnyboy and his cohorts.
The reasons they give for increasing authorized shares to half a billion are also quite brazen lies. They suggest they need them to protect from unfriendly takeover and/or provide flexibility for the sale of the company. They really just need them so they can sell them to finance the continuation of the scam. Proof of this is that they gave the same reasons for the increase from 300,000,000 to 400,000,000. I reckon they will be over 400,000,000 outstanding by Dec 31 2016. How many unfriendly (or friendly) takeovers were defended? How many real meaningful deals have they made? What do they have to show for the dilution from 300,000,000 to 400,000,000? How quickly will they need to increase the authorized to 600,000,000?
They need time to dump some more shares on the unsuspecting before the 10-K comes out. Come on T-Rex, you talk blind support for johnnyboy, actions speak louder than words, mortgage the house and buy some more shares.
"EL CAPITAN PRECIOUS METALS, INC. is unable to file its annual report on Form 10-K for the fiscal year ended September 30, 2016 within the prescribed period. The compilation, dissemination and review of the financial information required to be presented in the Form 10-K has imposed time constraints on the Company’s management that have rendered timely filing of the Form 10-K impractical without undue hardship and expense to the Company. At this time, the Company expects to file the Form 10-K no later than the fifteenth calendar day following the prescribed due date, as permitted by Rule 12b-25. "
"El Capitan Precious Metals Reports $3.7 Million in Value on Precious Metals Concentrates Warehoused via Logistica U.S. Terminals
May 31, 2016 02:38 PM Eastern Daylight Time
SCOTTSDALE, Ariz.--El Capitan Precious Metals, Inc. announced today that its contracted processing agent, Logistica U.S. Terminals, LLC, has placed in excess of seven tons of precious metals concentrates into a bonded COMEX warehouse in the name of El Capitan Precious Metals, Inc. The warehouse receipt demonstrates the value of the concentrates to be $3.7 million.
It is expected that the proceeds from the sale of these concentrates will support the operating capital needs of the Company as it ramps up its operating plan."
I think the telephone wire in question is the one from San Fransisco to Moscow.
Anyone doubting that johnnyboy’s nose is longer than a telephone wire, should have a gander at the 10-K coming out tomorrow. It will document continued ecpn share dilution. Fiduciary duty would force johnnyboy to sell the concentrates in storage rather than dilute, if those concentrate were worth the $3.6 million he says they are worth. But since he is lying about the value of those concentrates and they are not worth $3.6 million but instead worth nil, he has no choice but to sell shares at low prices causing massive dilution. Not that it matters. Ecpn mining properties are worth nil. Nil/400,000,000 is about the same as nil/500,000,000
ecpn excuse for non-production of PMs is FS not allowing use of road and they they need yet another widget. Both bald faced lies. ecpn has permits to move dirt in trucks up to 20 tons. At the grades they state it would be economic to move dirt with 20 ton trucks.
They state they have produced and stored concentrates grading an outstanding 400 opt Au_eq. Any smelter would buy that for hard cash instantly. If they can produce concentrates at that grade then why do they need another widget? Why not just keep on producing the same way that concentrate was produced? Because the actual grade is nil PMs. The ecpn stated value of the concentrate they have in storage is a huge lie.