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Just so everybody understands,the 3-18 fines are the main product being produced daily. The 0-3mm superfines are screened out from the 3-18 mm material and then screened again to produce 1-3mm.
The tracked equipment is moved around as needed and the small piles like this one as they are produced are trucked to larger storage piles elsewhere.
I think filing of financials and /or additional ships(both of which are coming)will start a long term pps increase.
After the 12-30 PR pps was gapping up intra-day and day to day several days running-market forces temporarily prevailing-partly because was so undervalued due to months of etmm manipulation etc.
So special interests fraudulently shouted promotion to pinksheets to get the improperly applied ce which they have used against CWRN and to scare off many investors ever since.
I'm sure a lot of people emailed her about it. As I've posted before one possible reason to gag is a requirement by investors to do so if they have received restricted shares as extra collateral for the equipment-as some have postulated. As I said before ,when the investors are paid and/or those restricted shares(if they existed)are retired,that would clear the way to reveal share structure. I don't know if restricted shares were issued as noted but they may have been.
far less than many cronies had been saying.
She may but people no doubt have emailed her re this. Bullit, and sometimes Bob, read here.
Shares are about what many longs privately thought while others kept shouting 6 billion-so that may have prompted the disclosure also. There are neutral reasons and sometimes required(by investors)reasons to gag Ta's and I have never found TA's forthcoming even if not gagged.
Thanks for sharing-the following is just a reminder to avoid confusion.
Last minute negotiations over the price of fuel due to the volatile petroleum market due to Libya etc unrest(as noted in a PR)was one of the reasons the final contract and trucking and shipping were delayed.
Government estimates of value on official forms often have little to do w present market value and sometimes are based on outdated indexes etc.-so the sky is falling re 80/ton from the form you are referring to was just that -outdated index or similar situation.
As I noted from agmetalminer 12-13-10-Chinese domestic cost of 150/ton for their very poor domestic iron ore sets floor for iron prices. If they could get ore from CWRN for one half of spot-they would buy CWRN or ...
The rated capacity of the much delayed custom separator for the 3-18 mm ore was 1000 tons/hour I believe-as noted I believe by Bullit last fall and may be in a pr also...
They also have 3 or 4 separators for the 1-3mm ore and those are used I believe.
Without the unprecedented manipulations this would be much higher-perhaps 10 cents by now. Another jr miner ran to .23 last May on very preliminary prospecting news and is still a year from production. CWRN is in production-which continues unabated but market forces have been overruled by imo unprecedented manipulation.
The trap I see people in every stock fall into is blaming the company for a pps drop caused by non company manipulation and their victims- nellies and longs.
Best thing to counteract this manipulation is to stand strong in honestly portraying good things-special groups are shouting fire/ pathologically----to give nellies/longs a chance to believe.
Bob promised 1 pr /month a long time ago and has kept that promise. They have often been at eom but the promise was 1 /month I believe w no qualifications. Since they've often been eom people have come to expect eom.
I apologize if I caused any offense-it was not my intention to-its difficult to employ pat paulson humor in a faceless blog.
They had PR's March 1 and March 25.
The March 25 was the proverbial one real PR for March-though some hoped for another one later in Mar.
Theres been a lot more communication from CWRN even in this lull than I've seen in any other junior miner.
I don't know why some longs have been caught up in special interest groups false frenzy re the amount of communication from CWRN.
Just about all pennies I've seen lose money due to ridiculous promo's or special interest games or because they don't have any fundamentals and many never will.
Millions of equipment/inventory since August and growing daily while they work on a number of beneficial things-and 3 blogs this month-a new feature,50 pics in Apr 12 website tour etc.
I assume,as a couple people have mentioned,that CWRN is waiting for something of note to PR-
such as filing financials,Kriton payment(if it hasn't occurred yet),trucking,next ship,additional excavation equipment(if it has not yet been obtained),news re new mining concessions etc.
The PR's often contain several items of note-so they maybe collecting several such items before a PR.
To my knowledge they didn't promise another April PR-they already had one April 5,plus several blogs,a 4-08 sticky, many late April pictures,an Apr 12 tour etc.
They continue mining and processing 3-18 mm and screening 1-3mm. The 1-3mm piles sitting in various places after the Kriton trucking have apparently been screened and consolidated but additional screening of 1-3mm continues -as 1-3mm are a byproduct of 3-18 mm crushing and processing.
Within 5 days of filing financials and attorney certification letter,they should have current info status.
If they file audited financials-rare for current info-thats a strong signal they intend to uplist to OTCBB-as some have already implied. They already meet market cap etc requirements-just need to become SEC reporting to uplist to otcqb.
When pps reaches .10 90 days running(e.g setting buyback order at .10 once pps reaches that)-they could uplist to the rarefied among OTC stocks of OTCQX-by which time such a company would likely attract institutional investors-Only ca 150 companies in OTCQX-including foreign bluechip.
Another junior mining co(otcqb status)I follow has been tracked by institutional for a long time and they are probably a year from mining.
And eventually one of big exchanges-Amex has a $2 pps option-just info.
From the 2-28 PR:
"Due to the constant internet chatter, phone calls and electronic mails asking the Company about a large new iron mineral project, and if we have received an buyout offer; management has decided to disclose to the public that it has paid $30,000.00 in mineral taxes on the 21,000 hectare (52,500 acres) "Mina Nazarena" as part of its contribution in a Consortium Group that is planning to develop the large iron mineral deposit within year 2011. The CWRN Team will be responsible for development and operations of the project. The mineral concession is located in south central Baja California, approximately 80 kilometers from the Sea of Cortez and 50 kilometers from the Pacific Ocean. The highlight of the project is a 14 kilometer (8.75 miles) long magnetite strike. The Company will begin exploration within the next few weeks. The estimated size of the ore bodies has not been confirmed; however, it is believed to be one of largest in Baja California if not the largest. The Company is also reviewing its options on two other iron mineral concessions located outside of Baja, pending the investment strategy of its U.S. investors which have indicated to management, that they are willing to go the distance on larger iron mineral projects."
Investors loaned millions for equipment etc-whether they would be focusing totally on the new projects now that they consider Baja 14 self-supporting is unknown.
It is about the highest profit margin business you can find- with spot at ca 180 and, as per the sticky article posted by Cohibaman,an average 20-50 cost/ton.
Sorry I meant trucking-not shipping.
Compared to other junior miners and most pennies,there has been a lot of communication in this relative(for CWRN)lull.
Several blogs,a PR, a posted website tour Apr 12,pics relayed to Rocket Apr 26 and then posted,4-08 comm from Bob in the stickies etc.
This much communication would be unheard of in many junior miners and pennies in general.
Those who claim this is low communication are either ignorant of SOP for pennies or manipulating for profit.
Or who answers thousands of emails and leads tours of the mine and regularly posts pics -only to have special interests shout "no communication"etc . If I were him I would buy up all the float and take this private rather have to deal w these self serving games.
Honest people need to compare this with other junior miners to have some perspective of Murphys law and SOP-compared to other juniors this has moved very fast-faster than any I have seen- since last August.
A lot of things are going on which should at some point not too far in the future result in several positive events and strengthen market forces-as occurred after the 12-30 PR.
If people want instant gratification play the fluff promos-where you are likely to lose 50% every time.
With the additional excavation equipment they are buying or have bought with revenue from the Kriton,they expect to increase production to 70000 tons /month sometime this qtr.
He also lets people tour the mine-you wont see that at any other miner imo- and there are people who will be doing so again.
On April 20 their project manager(Bullit)said wouldn't be any shipping for next 2 weeks. That 2 weeks is over so could be close to shipping. Several decent piles were shown in one of Rockets Apr 26 pics on the lower table-not counting piles higher up. Still don't know whether lower table piles are 3-18 mm or 1-3mm.
Some weeks or months ago somebody posted that the port storage fees were considerable-something like 4.25/ton after 30 days. If so would make sense until shipping contract determined and then use 24 trucks with the logistics previously supplied by pesquero. If they use those logistics they could ship a Kriton every 2 weeks as pesquero noted in January.
I've posted detailed explanation of the time consuming process several times-this is SOP for pennies. Click on my previous posts.
Bob told me in March they weren't happy w the shipping contract/leeway given to the shipper and was going to do the shipping contract different next time-usual learning curve in this dog eat dog world-so that could be reason for delay of trucking also.
Yes-the much older/slower Kriton 42007 ton should be only ca 10k/day-the much faster only 1 yr old bigger ca 57k ton Ioannis rents for ca 13,500/day.
Thanks-thats it -knew it began w a G. Again,with all of CWRN's carryover costs/deductions I would think CWRN's taxes would be minimal this first year.
Somebody has answered the product tax question already and the corporate tax-to the extent it is applicable -is the MAXIMUM tax rate.
Very few corporations pay the max tax rate due to deductions-and CWRN has plenty of deductions/costs carryovers.
So its interesting those who said CWRN will never ship are now shouting fire re taxes and double taxation etc.just to confuse people.
For we have gone far beyond what we should've have had to -due to the special interest group attempt at a take down. I and I know CWRN both look forward to the financials/uplisting etc to help move us beyond these games.
Note: this allocation of income between the U.S and Mexico for Nafta and tax purposes has no effect on the sub as a conduit of revenues to the parent/stockholders.
Nafta distributes the income between the U.S and Mexico,so I don't see how Mexico can tax CWRN on the income allocated to the U.S-an agreement that favors Mexico and Mexico signed and Mexico is bound by the agreement they signed or they are subject to the world court re trade agreements.
The amount allocated to the U.S. is taxed once by the U.S.
The amount allocated to Mexico is taxed once-by Mexico.
I don't live or work or research in Mexico and Spanish is not one of the languages I learned so somebody else can research Mex tax rates if they wish.
In any case the point of those who bring up taxes is to scare the stockholders.
Many huge companies pay no taxes at all because of deductions-big one in news recently slips my memory.
We truly live in 2 different worlds.
A wholly owned sub with no issued shares of its own created by and for CWRN is a conduit for revenues to flow to CWRN.
Representations form contracts,of which there are many types,including implied, all the time. Even non verbal rep's- as when people essentially lawfully acquire property thru unlawful behavior-such as adverse possession.
Your posts/predetermined belief system since 2006 that CWRN is a scam colors that view and will not allow for the possibility that CWRN is a real company-and the evidence shows CWRN more real than just about any penny.
There is no double taxation and Nafta distributes the income I have heard equally between the U.S. and Mexico.
You switch subjects -an old trick of confusion -by implying Bob has authorized shares for the sub.
The shareholders own a public company. CWRN is the shareholders.
I mention their marriage because that is good for the shareholders as others have noted -not just business partners w fewer ties-and one or more of your associates made a point of saying they weren't -even though Bullit has noted they are married.
Just trying to keep it honest and present the info so they can make an honest choice,especially given all the public and private threats being executed against those who believe in the company.
Unfortunately the same scare tactics are regularly recycled in the hope and belief people will have forgotten the dd answers already abundantly posted on these subjects before.
Plus there always new readers who take a while to figure out whats going on-I know how that feels by following other penny stocks.
See the 4-08 sticky. Giving Bob a breather after the thankless task of being the most open CEO I've ever seen and answering thousands of emails etc only to be falsely accused of NOT communicating etc.
Being respectful of newly instituted channels chosen by the company to communicate while Bob takes a rest from practically nonstop PR duties-so he can better concentrate on mining.
Rocket still getting pics from him(e.g. 4-26) plus 4-12 tour on website and multiple blogs-which is far more than you get from most junior miners.
Why do you insist CWRN shareholders will not benefit from the mining revenues. If they do what is the point of this recycled scare tactic.
Repeated representations of and reference to trusts etc on behalf of others forms a de facto contract as noted at length.
Have Bob and Sharon,as CWRN's principals issued shares to stockholders.
Have they represented the sub is held in trust for the benefit of CWRN stockholders-of course they have.
Are not Bob and Sharon the principals in both the parent and the sub.
Are they not happily married and working together in this business day by day-of course they are.
If Mexican law prohibits direct ownership what is your solution to this situation that all foreign companies have to comply with?
Rocket has several times posted Sharons meter showing 66 or 67 % BEFORE separation. The website from 2008 shows 59-67 % BEFORE separation.
I never claimed they were using lumps. As I understand it lumps would be the large 25-50 mm and larger but the contracts are for 3-18mm fines and 1-3mm superfines. Bullit noted the large 50mm etc size would just jump off the mag sep. In reply to my spec months back that the reason why sep was not ordered earlier is that original K was for larger iron that was not amenable to the sep.
But why worry about it- you said CWRN would never ship and there aren't enough trucks in Mexico and the cartels would hijack the trucks ad nauseum.
The shipping is far below 45/ton as per a pers comm from Bob. The ship didn't cost 1.5 mill. The faster(15 knots) newer(5-2010) and if I remember bigger Ioannis theo(57 k tons?) rents for ca 13k /day.
Shipping has been in a recession and too many ships-so shipping cost does not exceed the price of iron just ca 6 years ago. Thats insane.
Others say they have good source he sold one week before Kriton left.At that time trucking was continuing. I and others used the trucking logistics he supplied for months without any question from him and then suddenly were attacked for using the very info he supplied.
Just so people are not discouraged by thinking that buyback has occurred(without raising pps), it will take many months to buy back 60% of float and then it is SOP for successful companies to CONTINUE buying back-as the big iron companies are doing to the tune of 5-10 billion dollars this year.
As revenues/fundamentals grow and shares decrease logic dictates rising pps-and we've already had the most manipulation I've ever seen in stocks.
When ce is removed and other events occur- such as uplisting to otcqb etc- the market forces will be strengthened and a broader pool of investors who aren't moved by games will help those market forces move pps significantly higher.
See my Dec 17 post re retirement of insider shares etc-its included in MaxShochers compilation.
The company is not buying back our shares(whenever they do)to accumulate for themselves.
They plan on a structured combination of buy back of 60% of float and possibly a similar 60% retirement of insider shares to raise the share price for many reasons-including so they can uplist(at least to otcqx though they can uplist to otcqb at this pps)and escape the incessant games of penny land which I believe Bob is tired of by now-I would be-see the 4-8 sticky post.
They naturally would want to retain the same 60% control % as all companies do to prevent hostile takeover etc but as float is bought back insider shares are also retired as per PR'S.
Only happens when a company has real potential-which is extremely rare in pennies- and everybody is jockeying for a piece of the pie.
So the unprecedented imo games are just a confirmation of the great potential/growing fundamentals. CWRN's 1st ship netted more than a good % of pennies earn all year and another good % of pennies don't earn anything.
I cant change the law for those who have refused to believe the truth and indicated CWRN would never ship etc since 2006. Read about contracts/representation.estoppel etc.
Because according to the forecasts the stock would be worth much more than that in a year. Besides itmd and most longs believed the buyout to be a game by special interest groups trying to profit from the same and it was nothing but an unwanted headache/distraction to CWRN.
Don't need a link to the trust-the law is clear.
Bob and Sharon have contractually represented and held themselves legally bound in most if not all PR's by the following language.
Ever since 2006 theres been the implication/scare tactics they would take the money and run as lifelong fugitives- which is ridiculous-and in which case CWRN would be run by a state appointed trustee for the benefit of CWRN shareholders and Bob and Sharon would forfeit their shares which would increase the pps etc.
Are people really suppose to believe that after a lifetime of finally creating this successful formula that they are going to become lifelong criminal fugitives?
Many PR'S include the following language:
"The Baja Pacific -- "Mina Guadalupe" is operated by Panamerican Minerals Ventures, S.A. de C.V., Ensenada, Baja California, under contract with CWRN and held in trust FOR CWRN by its principal officers and directors, Robert L. Cotton and Sharon Vazquez.
Held in trust FOR CWRN-not held in trust for Bob and Sharon-who are intimated to be the guarantors of the trust by this language..
Who is CWRN? CWRN is the stockholders.
So this contract/trust is for the benefit of all CWRN stockholders.
Sharon is Pres of Mexican co w Bob as VP-to comply w Mexican law -since Sharon is a Mexican national-as reported in PR's of long ago.
Bob and Sharon have CONTRACTUALLY REPRESENTED to CWRN shareholders that via the contractual relationship tying the 2 companies together that all revenues will inure to CWRN shareholders-which include Bob and families closely held 1.75 B shares.
They have represented this continually and consistently so they are BARRED/ESTOPPED from denying or breaking this contractual relationship w CWRN stockholders.
To rebut the continual implication that CWRN shareholders receive nothing:
The only reason the Mexican company was created by CWRN was to comply with Mexican mining laws. The Mexican company is private. It does not have stock of its own-so the only place the revenue CAN go is to CWRN shareholderswhich includes but is obviously not limited to Bob and Sharon. It is de facto a wholly owned sub though CWRN calls it an affilate presumably to comply w Mexican mining law. Pinksheets calls it a sub btw because internally ...
Many PR'S include the following language:
"The Baja Pacific -- "Mina Guadalupe" is operated by Panamerican Minerals Ventures, S.A. de C.V., Ensenada, Baja California, under contract with CWRN and held in trust FOR CWRN by its principal officers and directors, Robert L. Cotton and Sharon Vazquez.
Held in trust FOR CWRN-not held in trust for Bob and Sharon-who are intimated to be the guarantors of the trust by this language..
Who is CWRN? CWRN is the stockholders.
So this contract/trust is for the benefit of all CWRN stockholders.
Sharon is Pres of Mexican co w Bob as VP-to comply w Mexican law -since Sharon is a Mexican national-as reported in PR's of long ago.
Bob and Sharon have CONTRACTUALLY REPRESENTED to CWRN shareholders that via the contractual relationship tying the 2 companies together that all revenues will inure to CWRN shareholders-which include Bob and families closely held 1.75 B shares.
They have represented this continually and consistently so they are BARRED/ESTOPPED from denying or breaking this contractual relationship w CWRN stockholders.
So there is a CONTRACT. Violation of the contract would bring legal sanction.
There is a TRUST. All property of the privately held Mexican company legally/contractually belongs to the parent CWRN VIA THIS TRUST.
If you make a will or trust to pass on your property,the courts will enforce that will/trust/contract absent considerations that are not relevant here.
By representing this relationship and even noting it in PR's,this also separately forms a de facto contract w every CWRN stockholder,each of whom could sue for violation of contract.
So,for Bob and/or Sharon to do anything else re the revenue would subject them to legal sanction. If they were to take the money they would be lifelong fugitives-which makes no sense since it took their entire lives to find this successful formula-and many entrepreneurs never find the formula.
And CWRN would still exist and keep operating w a new Mexican national "overseer" and revenues would still inure/belong to CWRN stockholders. And Bob/Sharon would forfeit their shares so CWRN float holders would have final say in the operations and probably have a pps share increase(after initial uncertainty) due to the reverse dilution-i.e Bob and Sharon forfeiting their shares.