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Peace-o to you too Muley
maybe we should ask, who has access to free trading shares and doesn't want a long position?
Here's an interesting development. It involves the acquisition of an Iron--not copper--mine by the Chinese in Cedar City (nearby Milford). Maybe this bodes well for us getting financing:
The Spectrum--St. George, Utah
Buyer means mine may open soon
JENNIFER WEAVER • JEWEAVER@THESPECTRUM.COM • MAY 14, 2008
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CEDAR CITY - The long wait for the mines at Iron Mountain to reopen soon will be over. Palladon Iron Corp. recently announced that it has reached a five-year contract with China Kingdom International Minerals & Metals Co., Ltd., based out of Beijing.
Palladon Ventures, Inc., the parent company, purchased the iron-ore mine 20 miles west of Cedar City from bankrupt Geneva Steel in 2006.
"This agreement enables us to begin production because we now have a buyer," said Frank Dolce, Palladon vice president of logistics. "There's still a lot of work to be done, with transportation being the largest factor with use of the rails and solidifying a port on the West Coast, but we're closer to completing those phases and are finalizing the details with shipping anticipated to begin the later part of this year."
Longtime resident Evelyn Jones said the mines were once operated by Utah International and U.S. Steel. Her husband, the late York Jones, was the manager for Utah International.
When it closed in the late 1970s, the entire community was affected adversely because iron-ore mining was a key component of the area economy, she said.
"When the mines closed it really had a big effect on Cedar City because the (manufacturers) paid so much in taxes," Jones said. "The city didn't have any big industry to fill in when the mines closed and so it was quite economically devastating to have the mines shut down."
Mayor Gerald R. Sherratt said half of the property tax revenues at that time were generated by the mining companies. When residents were forced to pick up where the mining industry left off, the entire town hit an economic slump, he said.
"The reopening of the mines will be a major economic boom and contribute to growth and improvement for the entire county," Sherratt said. "Eventually, there will be excellent paying jobs, an increased use of the rails and more attention to Cedar City to build tourism.
"While we hate to see our resources going to China, every little bit helps," he added.
Locally-owned company Gilbert Development Corp. will conduct contract mining at the Comstock Iron Mine and will mobilize to produce iron-ore concentrate for sale to the international customer, Dolce said.
China Kingdom International and its Australian operating subsidiary, China Kingdom International Australia, will purchase the run-of-mine iron ore at an initial annual rate of 2 million metric tons, Dolce said.
The electrical substation facility has been installed, grounded and charged, and it is ready to be connected to the Cedar City power grid. Once the pending shipping dates have been set and the mobilization of mining and shipping is off and running, Palladon anticipates reinvesting some of the revenues from the sales into a formal feasibility study to help finance the eventual construction of a processing plant on-site, according to a statement from the company.
"It's been a long time coming, and we're very excited that the project is moving forward because we know what the mines have meant to the community," Dolce said. "The contract with CKI means that the production phase is under way and the shipping phase has started, and Palladon is well on its way to playing a key role in the community with the significant cash flow generated by this contract," Dolce said.
Thanks Muley. Good to see you on the board again. If I hear anything on CPRK, I'll pass it on, altho I don't have great info like JTF. He's been spectacular in giving us information
We can only hope RDG
Thanks Ally & Will for your posts.
According to advertising research, it takes a frequency of 15 times for a message to be heard and understood by those receiving it.
I don't believe the CVI deal was good for CPRK. I do believe STL is impartial and has helped many to look at promising stocks.
I do believe CPRK will move forward and be a great stock if it gets financing and when the mill starts producing.
A very moderate Ho-Hum
Thanks for the input JTF. Heaven help us from the EPA and OSHA.
Eye, Just passing on a rumor, and that's all it is, so everyone take it for what it's worth but I heard that of the two most favorable financing deals, one is stalled and the other one is starting up again. Also heard that a few minor positions are coming in or at least being discussed. Maybe JTF can fill in the blanks.
Dunno on official Summer
Thanks Miami. GLTA on our positions in CPRK.
Thanks Will but I really don't care if moderators don't want to hear a positive take on CPRK. I will try to be moderate in my posts altho this one may be a bit edgy.
Good post eye. I think we all need to be moderate--me included-- in our posts and refrain from attacks. I appreciate your positive insight as a moderator and want to thank you for defining what most of us believe is the purpose of this board.
Since I'm a free member, I don't have PM privileges, so I can't PM mods to find out why I've been deleted. I'll just be more careful and try to keep my posts strictly on CPRK as much as possible.
Thanks
Zip
I just talked with another investor about visiting the mine again in about 3 weeks. Maybe we can hook up with JTF. And when I go, I'll take pictures like I did last time. Too bad they were taken off the ibox so we could see progress from the original photos of the mine and mill. Nice if JTF's were posted on ibox too! It's hard for us freebie guys to post photos.
And yeah. I had 3 posts deleted today. Didn't think they were all that bad, but guess my perception of a TOU violation is different from others. Oh well, just look beyond them and hopefully we can all be more objective about CPRK 'cause I'm still a believer.
And thanks to JTF for his great insight. Go Muley!
Good to see you too. I'm watching this one. I know Mike and will try to find out what he may have going but I'm really busy, so don't have lots of time for posting. if something good comes up, I'll let you know--if I know, which may or may not happen.
thanks for the chart T
Nice post JTF. Go CPRK!
Cool. Keep us posted on what you find out. Gotta run now
Call Junko and ask her :)))
When you do, you ought to check with jtf and see if he can't help you get an appointment with the powers that be.
Rooster,
Did you ever make that visit to the property? You said in a previous post that you were going to be driving by and were thinking about visiting it. Did you make it?
No. He was just using that as a comparison so we could see how big the land holdings of WUCC are compared to the Kennecott pit outside of Salt Lake. The overlay map he shows also does not include the Joy property that CPRK brought to WUCC which is also rich in copper deposits but is years from production.
Kennecott is located just west and south of Salt Lake City. Milford is near the bottom central part of Utah close to Beaver and Cedar City.
I think a more pertinent point is, if Stan dies, what does Gill do with the company? Does he drive the price down to nada and then go private? Or does he become a standup guy and start making the company act in the best interests of the shareholders with information and pr's.
JTF,
Like everyone else here, I'm really appreciative of all the photos, insight & information you've brought to the board.
I've got a question for you however. If you're a former shareholder in WUCC prior to the merger with CPRK, shouldn't your price per share have been somewhere around $2 and not .04?
I'm not casting stones, just curious.
And this appraisal is on 2005 value for copper and other precious metsals--which are now going through the ceiling!
I agree Muley. Being a MOD and having tolerance for all views without becoming jaded would really be a task. Anyway, we both agree that this stock is worth holding on to for the next little while to see what develops.
If JTF is right and financing comes thru, then we should see some significant growth.
Wonder what DN looks like in his striped suit? LOL.
Eye,
Glad to see you posting again. We've missed your voice of reason
JTF, have they decided between the two investment offers they have been negotiating with?
JTF, do you have any idea when the rock crushers & conveyor belt are supposed to be installed in the open area of the mill?
JTF, photo didn't come thru. Thanks for all your efforts and great information. Let's all sift thru the good and bad and make our own investing choices. This is a risky stock because it's a pinky. So all of us need to do some DD and make choices, not lambast each other for the choices we make.
IMO we need a little more balance from our moderators, RDG and a little less bite on anyone who says anything positive. We all know how WB operates, so let's concentrate on what we do have in the form of assets at WUCC. This mine has incredible profit potential. Let's give Mark and others a chance. Besides, you are still sitting on a .06 investment. Give it a chance and don't ask more of JTF than lazy or DB or others who jump in with negative comments but don't have to back up their side of the issue.
Muley--we need you in here.
Ally, Muley,
Nice posts! Hang in there.
Thanks for your insights JTF. I would guess you must be a former WUCC private shareholder who is now, like the rest of us trying to figure out how best to move forward with CPRK.
Great information, obviously you must be close to Dotson, Southworth, etal. Keep us informed. Having visited the mine and taken photos, I'm a believer.
Rooster,
From Salt Lake City, head south to Beaver, Utah (about 3 and a half hour drive. Exit at Beaver, drive thru town until you see sign on your right for Highway 21 to Milford, Minersville. Stay on 21 past Minersville until you reach Milford (about 30 minutes from Beaver). It's hard to get directions to the plant, although its easy to get there. Go into town and ask for the directions to the office at WUCC. Once there, they will have you fill out forms, etc. and escort you to the mine site on the other side of town.
I would recommend that you call the office before visiting so they will be expecting you and will have someone assigned to give you a tour. Otherwise you may miss meeting with them or even getting a tour.
Google driving directions from either Salt Lake or Las Vegas to make sure you've got it right. This is way out in the boonies.
i've just heard something may be in the works. Hope it is.
Sorry,
I've been trying to run down a couple of problems and have been away for awhile. I was going to go last Thursday but didn't make the trip. Evidently Dotson is still recovering from back surgery and isn't there very often. A cprk investor did go down there and said that he talked with some of the workers and they are making progress but some of the larger equipment is on back order. So the progress he saw when we were there about 1/1/2 months ago hasn't progressed a whole lot and we had seen tons of progress back then. He also said that he asked one of the workers about mill production and if they were still looking at June and was told it had slipped but they were confident it would probably be 3rd quarter for production.
Heard that the company is trying to get back some shares from WB and that they had all but signed a financing deal with a big name company for over $80 mm.
Price looks like crap. Lots of 200k blocks being sold the last little while. Still think this one has potential but something positive has to happen soon.
did trading on the old one and lost my shorts....hoping this will take off once we get some news.
I hope so. Have heard this one is gonna explode, but hate to see the up and down, up and down....
Nice to see iBox finally. Thanks
In December the board was idle. Pinky was the mod and left, SYGG changed to Praebius so thought it would be good to get a new board which we have now.
sorry about that last post rdg. r/s took place last fall, was thinking you were talking about a new r/s that hasn't happened and to the best of my knowledge with Dotson in control, won't.
BTW, that r/s that happened prior to the acquisition boosted the price and helped a lot of investors who made some good coin.
Again, sorry for questioning your comment.