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The Board`s actions have already resulted in sufficient financial relief having been extended to allow PMV to avoid bankruptcy and the loss of its equipment, while retiring a significant portion of its outstanding payables.
Furthermore, on May 19, 2013, PMV successfully shipped 68,069 Tons of Iron Ore from Ensenada aboard a Panamax Bulker (a first for Baja California minerals), of which 45,000 Tons were that material previously sold but quarantined by the Customs authorities and only recently released, plus 23,000 Tons of other inventory. The Board believes that their actions will allow sufficient capitalization to allow sustainable operations under KMG`s new management team.
Takeaways
- Risk of PMV BK has been mitigated
- machinery and equipment preserved
- the bulk of the most recent load of 45,000 iron ore was that which had been mined a long time ago, and blocked from shipment.
- A large backlog of ore is ready to be shipped.
- KMG is starting with adequate capitalization.
Sounds like they are giving shares in new subsidiary, in ADDITION to CWRN shares, not in place of.
A lot of negative speculation here - FUD. This is a new chapter - let's see what happens first before declaring the sky is falling.
That's a nice starting point for a brand new corporation. It was known for a long time that some sort of corporate change would occur eventually, so here we are. There are a lot of unknowns for now. But I don't think it is necessarily a bad thing. Time will tell.
Thanks Gegen. The ship is exactly the same in both pics. It seems unlikely that the pics are so far apart in time. Will experiment with the clock you refer to. Thanks.
Does your bridge need more IRON? I think the government is soon to be in the bridge-mending business big time. We got iron!
The Federal Highway Administration estimates that nearly one-third of America’s 594,000 bridges are either structurally deficient or functionally obsolete.
Here is the sec complaint URL. http://www.sec.gov/complaint/info_tipscomplaint.shtml
Would someone with better understanding of the terminology please file a complaint? I looked at the choices in the dropdown menu and don't feel I can describe the problem as well as maybe others can.
My main concern is that he is disposing of company assets purchased with shareholder money and pocketing the proceeds. If there is a way to stop that, or make him account for it, we need to stop him.
Any volunteers for filing the complaint? Rocky? AMA? Thanks.
Mods - would you please delete my posts today #97 and 98? They were in response to an earlier post that is no longer visible. Thanks.
I am sorry you cannot easily find the answer to your question. The answer is contained in all of the recent DD posts. Good luck.
Just found this board - awesome!
I'm confused about Level II. If it shows 10K on the ask at .0017, where are all the sells at .0016 coming from? Someone please 'splain me. TIA.
I topped up my tank on a few .0016s today. Will be eating lentils for the rest of the month. It's worth it.
Agreed - chance to pick up some cheapies. CWRN shareholders have learned a lot of patience.
Thanks for the tip on AMA - I always enjoyed his posts. Will follow up with KGEM on Friday.
Thanks KGEM - could you please PM me an email? I don't have PM myself, but am interested in what you have, in case I get a call back.
I am not a huge shareholder here. If we are to be attractive to a lawfirm, it would help for some of you "whales" to initiate claims. I am probably too small potatoes to attract them.
I just sent a request to the Pomeranz law firm to look into MMTE. They specialize in shareholder lawsuits. DOn't know if it will help, but we should start somewhere.
Great idea! I don't normally go for shareholder lawsuits, but this is ridiculous. Better yet, a restraining order to keep him from disposing of any assets without shareholder approval.
has anyone filed fraud charges yet?
Whaddya mean Johnny?! .0014 IS cheap! You don't see Jacob any more do you?
Slap the ask - get 'em while you can. Not that many for sale.
Ruh Roh... .0014s almost gone.
.0014s are up - yeah!
Knowing the long-term history of this company, particularly attempts to destroy them in 2011, I am completely comfortable with their refusal to pay for ratings on Pinksheets. I have more trust in the company than in the pennystock establishment.
Great post Grajekk. I can understand completely why small, soon-to-be profitable companies choose to operate under the radar.
Armies of "takers" are just waiting to ambush the "makers". If you have a promising company, it's best just to cultivate a loyal group of shareholders, and stay quiet. We know what we have.
Long and strong.
Ilia is definitely on its way. Let the fun begin! CWRN makes me love Monday mornings again.
Thanks for updating the IBOX! Good job. Pictures tell a thousand words.
Board rank is also going up and up! CWRN is lively this afternoon!
If you want to track the 70 tons of CWRN iron ore, click here.
http://www.vesselfinder.com/?mmsi=351427000#
It may move out to the bay a couple of times more to let other ships load. But once it heads towards China, CWRN is golden.
You got it.
SP has doubled since the Ilia arrived.
Follow RM for links to pics. This is all I need to know
Only if you are fast. That boat is getting closer to being loaded every day. Go CWRN!
The boat is dipping deeper in the water -- somehow I don't think the shareprice will. But at this price, it's still pretty cheap. Not getting any cheaper.
Ilia Loading Days/Share Price
(dates are approx, based on IHUB posts)
Ilia arrived May 5, scheduled to be in port approx 10 days.
-----------------------------------------------
Date ---- Ilia status ---- Share Price Close
----------------------------------------------
May 5 ----- Arrival
May 6 ----- ? ------- .0008
May 7 ----- ? ------- .0006
May 8 ----- ? ------- .00086
May 9 ----- ? ------- .0009
May 10 ----- Loading - .0006
May 11 ----- Loading - NA
May 14 ----- Loading - .0010
May 15 ----- Loading - .0009
May 16 ----- waiting - .0011
May 17 ----- waiting - .0013
May 18 ----- Loading - NA
Here Lucky! Request for Corrections to Inbox
LuckyMyDog - please make the following updates, or allow someone else to:
Most current news:
- We loading our third ship, the Ilia. New photos are available.
- See Vesseltracker for current status. http://www.vesselfinder.com/?mmsi=351427000#
- Loading is intermittent, in between cargo ships. Loading should be finished in a few days.
- This shipment estimated to be worth between $5-7million, depending on negotiated price for iron ore. Actual revenues will be released in PR.
Old news
- CEO is Shirley Lee
- Export license is current - image is available.
- Skull & crossbones is result of management decisions not to pay PinkSheets anymore. The company has its reasons for not playing that game any more. The giant font size is goofy looking.
What else?
I agree. How do we submit corrections?
The intro information is really out of date. We need the most recent shipping pictures, correct CEO info, etc. Who creates this content?
My TGIF ask smack .0013. Have a great weekend all!