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.
they will most likely issue a dividend of .01 per share that will be deposited in your account, then retire the shares....if they are going private. Another one they can do is called reimbursement of invested capital which is virtually the same thing and manner, only it's not taxed as capital gains. I wouldn't worry about that one. If you have shares in your account, you are a shareholder of record. As long as your trade has settled.
read again..Excerpt from themarketfinancial interview:
Naked Shorts: We don’t really have any “plan” in mind for this issue, but I believe that once we are back in production and become cash-flow positive, our survival and growth should take care of this problem. Management has stated on many occasions that they are “dramatically opposed” to any reverse split and would much rather use profits to repurchase shares.
Oh, so they are still issuing new shares. Ok. I don't really mind...the pps is still going north.
I've run out of posts. I failed to find the apology and withdrawal thing, but I have convinced myself the CPRK and PNCKF are at an impass with the options litigation.
Colorado, thanks for the links.
ok. Sorry. Then the floating shares are the only ones that can be bought or borrowed?
And the TA gives you the information on OS/AS verbally? or do you get the info from a computer?
I understand that, but if the number keeps changing, and there are no new issues, one of the ways to explain the increases in figures is that somebody is Naked Shorting.
If it's any consolation, I'm a little confused too.
So restricted shares don't always stay restricted. Their only restricted from trading freely for a specific period of time, correct? Like after they have been held for a year or something, they become unrestricted. That still shouldn't cause the computers to increase the A/S, right? because they are already included.
So the market makers borrow shares from a computerized Pool of shares in order to meet demand. especially in times of a shortage of the stock in question.
"The TA said that there has been no change in the share structure." but the numbers keep changing?
I am speculating that That's because the NSS guys are selling to market shares they can't borrow. And since the longs are holding ever so tightly every share they can get, the NSS guys will probably end up getting FTDs when they try to cover.
The other guy did a better job of explaining. They constantly have to sell short in order to stay ahead of the settlement days. or something like that. follow that link that says "Interesting Post on NSS"
I took the figure from the Pinksheets filing. I was using the figure from preferred shares, and didn't say anything about restricted shares.
Even Charles acknowledged in the interview that we do have a NSS issue. And the systems that track it are computerized. They said that were not any new issues coming. So why does the computer say 5.3 billion, when the company says 4.95 billion?
Thank you. I didn't know about the preferred shares, and sometimes I grasp at straws a little.
Weren't some of the shares used as collateral also, so we could deduct those ones from the O/S?
Richard, the mods decided to delete the post that contained your reply to my post regarding naked shorting of CPRK. I guess they deemed it irrelevant. Anyway, I too need to think about it more.
These are the figures from the Pinksheets filing:
Outstanding Common Shares: 4,946,021,487 as of February 1, 2010
Outstanding Preferred Shares: 15,000,000 as of February 1, 2010
Authorized Common Shares: 4,950,000,000 as of February 1, 2010
Authorized Preferred Shares: 15,000,000 as of February 1, 2010
# of Common Shareholders of Record: 451 as of February 1, 2010
# of Preferred Shareholders of Record: 1 as of February 1, 2010
Float: 2,463,008,595 as of February 1, 2010
If I understand it correctly, the correct number of shares in the open market is equal to the float.
The maximum amount of dilution without new issues would be the 4.95 minus the 15 million, right? that would be 4.935 billion. So mark has 200 million, and 2 other officers have 20 million each. that's 240 million. That makes 4.695 billion. minus the public float (?) 2,463,008,595 leaves 2,231,991,405 shares they can still sell to the public without new issues. If the float that they declared to pinksheets holds true, then my guess would be that the shorters are in the neighborhood of 2.83 billion naked shares shorted. that's 400 million shares more than what the public float was declared to be. Thing is though, that they don't need to buy real shares to cover, they only need buy back their non-existent shares in order to cover, bringing the float back to where it should be. The other guy said that the right catalyst could send them to retreat. He also said that trying to keep a short position this size collateralized was extremely difficult. And that the sizes of his short sells would actually cause the price to gap upwards.
If I could draw an analogy: if they were digging a pit, planning to maybe fill it later (maybe not) and they were throwing dirt out of the pit up onto the ground as they went...they would never be able to fill the pit back up, because other people keep running off with the dirt!
At this point, I really don't think there is anything to worry about. IMHO I just think that it will be extremely interesting to watch as the rest of the story unfolds.
p.s. I am not an investment advisor. Anything posted is only an opinion and should not be considered as advice to buy/sell/hold a security. Do your own Due Diligence and try to make educated decisions.
I would like to point out ( and correct me if I'm wrong) That dilution is also occurring because of naked shorting. This puts into market shares of CPRK that don't really exist. That would lead to an increasing number of shares on the open market.
In the TheMarketFinancial interview, they said they had no plans for future offerings of new shares. So, at this point I would surmise that there are not enough shares available on the open market anymore for those who have naked shorted to be able to cover their postions as there are quite a few people here who are buying as many as they can afford (like me). The numbers just aren't matching up.
It will eventually be able to take care of itself because, over time, as the naked shorters cover their positions, the non-existent shares will cease to not exist. So, in theory, the number of A/S O/S hasn't REALLY changed. Maybe just the Float. & the Number of A/S O/S has only been increasing above and beyond the 4.95 Billion figure due to the naked shorts.
If that is the case, then it has become very easy to see exactly how much they are naked shorting, and it also sets the stage for an even more powerful short squeeze when that time does come.
I could've sworn that I saw an apology and withdrawal before. I'm still looking.
http://www.purenickel.com/s/NewsReleases.asp?ReportID=366806
Western Utah Copper Company property
Pure Nickel has an agreement to receive certain royalties for production at the Western Utah Copper Company (WUCC) property, and in June, 2009 the company filed an action for declaratory relief against WUCC in the United States District Court, Utah, requesting interpretation of and the status and rights under the agreement. On July 20, 2009, WUCC filed an answer and counterclaim, and on August 10, 2009, the company filed a response to the counterclaim. Management believes that the counterclaim is without merit. Therefore, no provision has been made for the counterclaim in the financial statements.
You have to check with your broker as what sort of system they have in place for you. Read my post on e*trade from yesterday. Also read the post that says "Interesting post on NSS"
me too. As soon as I reach my desired position, I will be registering my shares.
I asked e*trade awhile ago about the stock certs question, and they have an electronic registration program that equates to pulling certs, but keeping them on deposit in their firm. If anybody wanted to find out which firms honor their own, e*trade would be one of them.
I appreciate you posting that link, and found it to be very informative.
ok.
agreed.
I'm not going to argue with you over semantics. Try someone else. Long and strong on CPRK
The reagents "soak" time was lessened and hence, lower copper percentages in the CuCon.
equals "less concentrated."
How did I have it wrong?
I understand. I also have a way of forming my own thoughts.
Why were they processing the ore a second time?
So, of course I don't have any source that I am drawing on for my conclusion, but there had to be some reason that they would take previously processed ore, put it back in the cells, add more reagents to get concentrate out of it. Since they're not that forthcoming to tell us what happened, I made a guess. If the concentrate that they shipped wasn't concentrated enough, they waste payload in the truck, at any rate, that doesn't matter much anymore anyhow, as the bugs have now worked out, additional cells added, etc. Now will come the time to enter production phase!
90% is awesome. That's the reason they went back to the drawing board. The concentrate that went out before wasn't concentrated enough. I bet the smelter got upset, and that's probably why they were processing some of the ore twice back when the pump froze. was to get the concentration higher. The cementation circuits, and injectors should allow for processing once instead of twice. It's too expensive and too time consuming to process twice.
only 12 of the cells are flotation cells for processing the oxides. The other 12 cells are for processing sulfides. They know what they're doing.
I don't intend to argue, but I've bought CPRK after hours at e-trade before. The commission was like $159.99 for that trade. They said something like ECM charges
Pre-market trading can cause the price moves also. If there are people trading in extended hours, the price is more volatile and can move quite quickly because of the scarcity of shares. Also, when there are a lot of people that are placing regular hours buy orders before the market opens, that can cause the stock to open higher. One other possiblity is when the company recapitalizes its proceeds from sales back into the market, that can cause slight increases in price also. I don't think that MMs would consider JITs post PR...it's not an official Press Release.
249,999,999,900 left to count!
Guess we better start counting!
This whole Idea of the Milford Miracle...Just show up. Is there planning going on? Is there a date range that someone has in mind?
If I go there am I going to feel like I am wandering stranger? Or should I make myself a copper foil hat so you know who I am?
How old is that article?
Cheers to that! I'll join you for that beer.
the chart does look like it may be starting to trade sideways. I guess we'll see tomorrow.
I would take the domestic mine over a foreign one any day. After all, it is fairly inexpensive to drive to Utah, compared with flying God know where to look for who and what? Where?
The stocks that I have seen that turn out to be bogus are the ones that claim to have mine-able fortunes in foreign countries. I'm not buying it. With copper king, you can drive there and see for yourself before you invest. It's not a dog and pony show. They are boots on the ground and hands in the dirt.
Mostly it is a question of how you value a stock. How much do you think it's worth? If you think that it is worth more than the current price, You buy. If you think that is is worth less than the current price, you sell. Only you don't really tell people what you think, you show them. If I think the stock is worth more than $1.00 a share, I won't sell until then. People have varying opinions, but most of them know a good deal when they see one. If you could buy twice as many shares for the same price you paid last Friday, and you have the investing money available, why not do it. Also it is a question of supply and demand. The more scarce a stock is, with high demand, equates to a higher price because nobody wants to sell, and alot of people want to buy. If you were to do your part, you find a stock that you believe in. You Invest, and hold for 4 -5 years without selling.
Traders are different from investors. You'll find mostly investors here.
Traders are indifferent to the value of a company, they only concern themselves with the price of stock and it's price changes.
I didn't get my penny, but I did get my retraction. (I take that back)
A long position is when you purchase the shares outright and hold them.
A short position is when you borrow the shares and sell them, planning to reimburse the lender of those shares later with shares that you purchase...hopefully at a lower price...therefore netting a profit. Make sense?
If you buy long you make a profit on the increase of share price, and the potential for loss is limited.
If you sell short, you make a profit on the decline of share price, and the potential for loss is unlimited. (You lose money when the share price goes up).
That's an interesting idea. Makes me wonder about what happens between market makers. If one MM borrows shares from another in order to sell them to their clients, would that count as a short sale? at least until settled, I think it might.
click on the "Filings" tab...Richard did say "unofficially".
Probably hit a penny on Monday, followed by small retraction.
I wonder if the short sellers were so content with themselves, they decided to take a vacation in the Bahamas? I hope when they come back, they find themselves in the poorhouse. Probably be the next guy you see standing on the street corner. How does this work?....You have to have margin to trade short. You have to have equity to avoid a margin call. If you don't make the call, they sell off your positions to pay themselves. If you don't have enough equity to repay, you owe. These guys could've been seeing green for days, turned a blind eye for a few days, and come back to a mountain of debt?
I'll go with .005 too.
I disagree. The floor is rising fast. There's not much selling happening. The RSI is almost at 70. We might see the short squeeze today. Today's volume so far is almost as much as yesterday. The pressure is on, and the watermelon seed has but one way to go!