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Article on gold; headline doesn't read well but the article is very optimistic at the end.
http://www.msnbc.msn.com/id/27522861/from/ET/
jtf
3F, that is a fair question. For the record, I'm not an insider, on the board of directors or in any way affiliated w the company. I might be classified as a large shareholder, though, if I knew what the qualifications were to be one; I do have many millions of shares; most restricted and many free trading (btw, as of today I still haven't sold a single share). I was first introduced to this company approx 1 1/2 years ago when it was privately held. I invested then in addition to several other large investments over the past year. I have visited the mill on 4 different occasions and have met several key people who I ask many, many questions too. They have given me very compelling information that has led me to my conclusion that this company/project is for real. BTW, this info is available to all if they just pursue the proper DD.
I can't explain the small trades...your conclusion sound reasonable. Regarding current funding needs, they will pull this off. Remember, they don't always have to sell shares to get monies necessary to finish the mill. The recent bridge funding announced in Sep08 was a non-stock deal.
Anyway, hope that helps... more a commentary on me rather than the project. IMO, company is real and it will succeed; hopefully the price will follow.
jtf
L, I agree w some of your assessment (especially the WB stuff) However, news releases sometimes give stocks a boost; thats just what happens. They were all factual; reverse merger, LT bonds/financing, etc. Would you rather they didn't keep us informed?? Can't fault anyone for selling into a rally.
In addition, the company has sold over $10m+ worth of stock to fund construction of a state of the art plant. Isn't that what stock is for?? What else do you suggest they should have done?? The company was forthright in explaining this and released info so investors could decide for themselves. If the price declines because more shares are sold into the market so be it. It needs to be absorbed and we move forward. Insiders are not selling!!! Other market influences/factors are at work here.
Simply put, we have a difference of opinion on the definition of a pump & dump. BTW, the company awareness campaign of billboards, paid analysists & videos were not WUCC's ideas...it was WB stuff. MD is in charge now. Personally, I didn't like it. BTW, how would you have done it? I didn't know it was wrong to have a company awareness plan.... Anyway, as I have said before, this has yet to play out on why I invested and to sell before the company has a chance to perform (so close), is in my view, silly.
jtf
L, your assessment might be correct (other than the p&d you claim) but I can assure you of one thing; if this stock is trading at these levels or lower as you say after production and during first quarter 2009, a significant amount of the float and the stock held by weak hands will be bought up by company & insiders, guaranteed. IMO, only a few "what ifs" exist for those who can't handle the risk/pressure....this still has yet to play out but I personally believe in the progress I have witnessed first hand over the past 1 1/2 years I've been invested. WUCC/CPRK is legit and it does have tremendous upside...if they perform.
jtf
Red-v, your concern is valid and possible (not paranoid!!) and was even discussed on this board back in early Sept08 but, imo, not probable due to personal conversations w company and these points.
1. Management-good, honest people w high degree of integrity who, imo, just wouldn't do it.
2. Bankruptcy law-corporate bk rules are also there to protect shareholders; see link below. We have rights...
3. Production-if in production chances for BK go way down
4. Ownership-key insiders already own approx 90%..whats the point?? could potentially expose mgt/insiders to legal mess.
5. Assets-company has significant assets compared to liabilities. (when adding in ground metals & land appraisal)
Also, check out my posts #15287 & 15313 and go to the following link for more BK info:
http://www.sec.gov/investor/pubs/bankrupt.htm
http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter11.html
Remember, corporate bk is a bit different than personal pk or rules on foreclosure.
hope this helps..
jtf
Hey Zippy. Good question, I'll try to get the low down on that and other info regarding completion and start up date.
I'll I know is its comin'...
jtf
IMO, yes; might take some time; maybe within a year; maybe two +, but definately possible. Not on speculation or hype, but fundamentals if the company performs. Mgt believes the company is extremely undervalued at this point (i believe they might take some cash and snap up shares after production if pps is still at these levels). Estimates vary but $1+ has been discussed IF certain things line up....one of which is finding the "river" of copper that is feeding these 8-10 mines.... there is substantial evidence that its there. And don't forget the company also acquired Drum Mtn property with the merger. My understanding is its loaded w gold.
jtf
Restriction was originally 2 years pre-merger then after the merger became 1 year. Company has announced that the insiders are not selling (see prior PR last summer). They can't dump on us due to rule 144. They are in it for the long term and if dividends are paid out they'd be crazy to sell a bunch....cash flow is to great.
jtf
Rail is 10 miles away in Milford, UT. Roads are available to truck material there. They will also truck copper consentrate to SLC, UT, AZ and CA for processing into pure copper cathodes. All of the mines (8-10 of them) are located with a 25 miles area close to rail and major interstate highway (I-15). This has been planned out and is not an issue at all.
jtf
Absolutely!! I've visited the company / mill 4 times now and it is for real. I've seen independent 3rd party verification and reports that support billions in metals in the ground. $40m state of the art mill 98% complete and scheduled to start end of Nov08. Revenues and profits to follow immediately after start up. Key management are dedicated professionals with experience, integrity and are highly motivated to provide shareholder value. Yes, its for real..imo...
jtf
Yes, at first glance unless you look behind the numbers. See post #15940. Approx 85%+ are restricted; 13% in float. These high numbers can still work...imo w production.
jtf
Yup!! I'm full of it...(info)!!!
jtf
Another Sept08
jtf
Old pic - Sept08; Substation conduit work
jtf
here's another...power poles lined up all the way to highway / milford, ut.
jtf
heres another
jtf
M, here ya go. Middle right in the pic are the power poles (next to road). Lines are hung; just awaiting substation completion. Also see post #15101 & #15103.
jtf
Another... bottom center looks like another water tank foundation. Substation is next to the middle of the mill
jtf
Here's another aerial of the mill. Notice the water tank forms (poured now) in the upper left and next to the mill are new tanks for the floatation process
jtf
Here is an aerial photo of the Hidden Treasure mine. My brother-in-law did a fly over last week and snapped it.
jtf
Yes, please check my history; I have posted several pps scenerios before based on ESTIMATED/PRO-FORMA projections (and so has the company on the web). I also agree about your point regarding cash; however, since I got involved with this company they have always had a goal of paying generous dividends. The exchange will take care of itself at some point.
I also agree w the "theory" that principals might want a lower price to "recapture" shares upon production. Should, could, might happen but i believe their "incentive" is to eventually reward all patient LT shareholders with price appreciation and dividends. Thats the character of the people I've met that are involved in this project.
jtf
I'll stand by this post and record of providing factual dd on this board which you have not. Just because the stock has gone down doesn't mean the info is false.
Here's a hint to verify my research; get on a computer and L2; its all right in front of you if you just try....names, amounts and dates of the massive short volumn of shares. Yes, the dumpage is exactly what I'm taking about.... heavy shorting to drive the price down to cover at a lower price without cause is a great definition of manipulation; at least to me.
BTW, YOU should re-read my post...I know what I said.
jtf
To all CPRK shareholders; please don't be discouraged on the drop in the share price. I have credible information that the stock is being manipulated but it will decrease dramatically after producton, profits and dividends. Hang in there.
jtf
I hear ya Blue!!! I'm absolutely amazed, based on what I know about this company, that some people are actually selling at the .02 -.03 level!!! I guess that's their right and the free market workin..... but wow!! I have a feeling that when cash starts rollin in that the company will take some of it and buy back the free trading shares...jmo.
jtf
Picture of new 300,000 gallon water tank.
jtf
NICE of9!!! IMO, WUCC/CPRK is a long term (2-4 years)investment anyway and if they do indeed pay dividends at the rate I think they will (50% of profits-imo) it will be a very long term hold for me and a real life money printing press!! (IMO, of course).
jtf
Another great article that puts the current "crisis" in perspective; this will pass and things will eventually get better - just like the ones in the past...
http://www.kitco.com/ind/Roulston-regular/oct152008.html
jtf
Copper outlook report from a couple of weeks ago. Interesting that it mentions China is picking up its demand/purchases of copper.
http://74.125.45.104/custom?q=cache:-gzH2I2iNa8J:www.kitco.com/reports/cochilco_oct102008.pdf+copper&hl=en&ct=clnk&cd=1&gl=us
jtf
Hopefully we're close to the bottom of the commodities "correction"; this article thinks juniors will eventually be on fire again...
http://www.kitco.com/ind/degraaf/oct212008.html
jtf
Looks like China has found Utah on the map!! Wonder whats next....
http://www.sltrib.com/business/ci_10811713
jtf
Agreed!!
G, we need to accept the possibility that with the recent dramatic drop in copper and other metal prices, that CPRK will struggle to post $100m in revenues next year. However, I've seen pro-formas and estimations that use $1.75 - $2.50 price per lb which helps lighten reality. Finally, even w the decrease in metal prices w the economic slowdown, the company can still post profits in 2009 and a recovery will happen at some point in the future.
jtf
Valkerie Mangnall | October 24, 2008
BHP Billiton, the world's biggest miner, is poised to snap up smaller players struggling amid the gloom affecting the global economy.
Speaking at the company’s annual general meeting in London yesterday, chairman Don Argus said BHP's diverse portfolio of assets and strong balance sheet put it in a competitive position amid the turmoil on world markets.
“We believe our balance sheet places us in a unique position in the resources sector to take full advantage of not only the recovery when it occurs, but also in capitalising on opportunities that will no doubt arise in this cash-strapped external environment,” he told shareholders.
Resource stocks have plunged on the Australian share market this year amid expectations the financial market turmoil will spark a global recession and reduce demand for commodities.
Mr Argus reiterated BHP’s belief that China’s industrialisation would continue to drive demand for its products, despite the fact growth had “softened recently” in the Asian country.
“We remain convinced that the ongoing industrialisation and urbanisation of China and other developing economies is still at a relatively early stage and will continue to drive strong long-term demand for our products,” he said.
BHP chief executive Marius Kloppers said even in currently turbulent economic conditions, the future of the business remained positive.
“While we fully expect some reverberations from global economic shocks in the short and medium term, we remain focused on meeting growing customer demand in the long term,” Mr Kloppers said.
He said BHP was ready to pounce on opportunities when they arise.
“Projects cannot really be financed at the moment by small companies, and you see their share prices reflect that,” he said.
“As that cash tightness progresses – we’re already seeing these junior companies have share prices that are now back to where they were perhaps five years ago - certainly in theory there should be some opportunities to take advantage of and since we have the money that’s obviously the case.”
BHP’s willingness to consider smaller ventures comes despite its bid for Rio Tinto , which would create a global mining giant.
“One would obviously want to maintain the balance sheet in strong condition, but I certainly wouldn’t rule out that you can do smaller things, as we’ve done indeed over the last year,” Mr Kloppers said.
Mr Kloppers said BHP was awaiting a ruling from the EU’s competition watchdog, expected by early next year.
“We unfortunately just have to wait now,” he said.
South African competition authorities today recommended approval of the takeover, but with conditions attached.
Rio has rejected BHP’s offer, saying it under-values the firm and its growth prospects
I find hope in the "china" comment....
jtf
Regarding prior post, see pages 13 & 17 for company mentions
GC, You might be right but then again, 4.3M were purchased today by someone looking towards the future....heavy volumn but investors are stepping in.
jtf
G, not a complete video but several clips I obtained last time I was there.
Check these out....FYI, production is scheduled for mid to end of Nov 2008. Its really progressing nicely. Pass these along if you want….
http://www.nelsok.com/video/cprk_mill_video
http://www.motionbox.com/videos/a79edbb11a1ae12e
http://www.nelsok.com/video/cprk_blast_video_14256
http://www.nelsok.com/video/cprk_blast_video
http://www.motionbox.com/videos/a79edbb11b1fe52e
jtf
3F, nice post and I'm with ya for the long term. I've owned this company since Sept07 when it was a privately held company. My shares were restricted for 2 years then, so I'm ok with a 1-2 years wait. It will "pan" out... i can't believe some people's impatience.... mostly those who don't know the facts behind the company. The company still has work to do but we're almost there....
jtf
Grass, I know that's alot and has scared away some investors. It has been disclosed and discused on the board numerous times. Here are a few key points to consider:
Company has many independent 3rd party verifications of billions of $$ of metal (copper, gold, silver, moly, tungstun) reserves. Yes billion(S) plural; on only 10% of project land/resources.
Company is currently finding additional, higher grade ore.
Company has a state of the art mill, structures and equipment worth $50m or more.
Company (IMO) could receive inquiries on potential buyout (logic confirms that for me)
Company estimates approx $100m of annual revenue soon after start up
Company estimates $50m of net profit (could be higher)
EPS based on 2.5B A/S would be: .02 (could be higher)
PPS based on 20 P/E multiple would be: .40 (multiple could be higher)
Company projects dividends 2nd quarter of 2009 (will increase pps)
Approx 90% of the ownership is insiders/key people who are not selling. (can't speak for WB and his gang)
Float relative to A/S and O/S is low.
Current market cap: $75m
And finally, even though some on the board hate this comparison, another way to view the stock structure based on a 1:50 is:
DISCLAIMER: THIS IS NOT OFFICIAL FROM COMPANY!!
A/S: 50m
O/S: 44m
Float: 6m
PPS: $1.50
(an awesome structure if true)
SHAREHOLDERS!! Don't worry about shorts, daytraders, market makers, bashers, pumpers, or the boogie man etc. WE CAN'T CONTROL THAT!! KEEP YOUR EYE ON THE ASSET AND THE CASH FLOW IT COULD POTENTIALLY GENERATE!! IMO, this is not a typical pink play yet is being traded like one....from what I've SEEN, this is an incredible investment opportunity and I'm FULLY invested. Good luck to all.
jtf
And another...