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.
Compared to Bob, that seems to be the situation-there are several variables -including Emily being new. But sometimes they can be stuck between a rock and a hard place. When Bob was answering countless emails many complained of insider knowledge or how can they trust the poster re the email etc.
Some of us suggested the company update via a blog more often than once/month-so they started a blog-wasn't that responsive-remember you have to compare to other penny companies which have less info flow.
Also they are trying to be careful of SEC rules as Bob has noted.
So when they go to this less satisfying info flow some of the same people complain of lack of info from the company. If one looks at the bigger picture a lot has happened since August and a lot continues to happen. Production is not dependent on a daily flow of info from the company.
The same mm who has been shorting/depressing CWRN since last summer will even sell to themselves at lower price to create the false perception of retail sells outnumbering buys etc-when people have pointed out that the opposite is sometimes true- and to try to create a panic. They also use push-pull tactics to trip stop loss orders to try to create a panic.
At some point such interest groups may switch and become longs once a larger pool of investors and market forces again overwhelm the manipulation-after all they now the fundamentals are there -thats what allows them to play this cyclical game. The vast majority of pennys just essentially continually decline because of lack of fundamentals and so some of the groups who play this game could not profit off such stocks.
Once financials and additional ships and effect of buyback etc it would logically become increasingly harder for the cry wolf crowd and etmm to manipulate -so we are seeing hopefully the last deep bear raid-they know that.
Some were pushing CWRN to depress pps to make buyback less expensive but that has its drawbacks and I have no evidence they are doing that-after talking to others. Buyback and similar retirement of insider shares will eventually greatly increase price-see my 12-17 post.
People worry too much about cost of buyback-not counting all the benefits. And compared to revenue,buyback costs will be relatively minor as a % of revenue-even though buyback will eventually cost many millions.
Thats why I kept saying debt financing is much cheaper in the long run. Most of CWRN's financing was of necessity debt financing because the pps was too low prior to Jan to raise a significant dollar amount by issuing shares and by Jan they had ca 20 major pieces of equipment or more. As per Bullits post of weeks ago the debt is paid off from the Kriton shipment.
My question of flyer was what size did his source indicate the next ship would be. Flyers answer was 50k tons(50000 tons). The Kriton was 42000 tons. As flyer said the next ship will be bigger.
Those who choose to know nothing know nothing because they have rejected truth/knowledge at best in the belief that ignorance is bliss when ignorance only hides a much deeper problem.
Among other things,the 4-5 PR says:
"The Company is now in the process of screening out its 0-3mm fines, which had accumulated around the mining site, into several massive stockpiles. This undertaking should be accomplished within 10 days, resulting in a finished product of 1-3mm fines that will be sold under a new contract while the company is preparing the second shipment. In addition to all of this, The Company is adding more heavy excavation equipment to increase production."
Except for the occasional rain delay day production continues as the Company has repeatedly indicated and as shown by the numerous photos posted on this board on a fairly regular basis.
They are doing two production related activities
-gathering and screening 1-3mm ore so it can shipped under a different contract than the 32 million dollar contract for the 3-18 mm ore-which is apparently ongoing.
-continuing to excavate and process more ore-presumably 3-18 mm-the main contract size.
Some source indicated that with the additional excavation equipment they will be able to produce 70k tons of processed ore/month by some point in this qtr.
There really is no limit to capacity at the mine. By the time they began trucking they reported 165 k tons at mine. Then they added a 3rd shift and more equipment. Though the biggest unknown is how much they have in various stages of processing at the mine.
As noted by the fall PR's they planned on using Panamax ships of 75k tons this year,so I would think the port storage area can hold at least that much.
They have and they do-I don't play games to make money. I play the fundamentals.
The fundamentals are abundantly clear from the extensive dd on this board except for the amount of ore stored at the mine-which is unknown.
Spot price at time of contract is known,sticky article shows junior miners cost /ton-we know the ship tonnage and good idea of the profit. Debt paid off.
This is the only junior miner I have seen transition to revenue since I've been in pennies.
This is the lodestar of penny trading-thats why we are seeing all these games by special interest groups who don't play by the fundamentals- but they pick a stock with strong promise so it can survive there cyclical games quite a few times and recover on the fundamentals. If there were no fundamentals you wouldn't be here!
This doesn't necessarily mean storage fees WERE astronomical -and there is a 30 day leeway I think somebody reported. But as with many things,it is a learning curve by both CWRN and the port. So after the long time the ore was at port before the 1st ship the port may have added time restrictions.
Even supposing you aren't who you are ,a comparison of other pennies shows they are in the same ballpark as other stocks on financials-which is what you choose to focus on as late. Other pennies I'm watching don't have financials they predicted for April 1 yet-in same situation as CWRN.
But continue to ignore the production ,shipping and repeatable revenues with a profit of $130/ton- a higher profit margin than silver or gold or any industry that I can think of.
Once financials are filed and ce is removed bigger pool of investors less influenced by special interest groups and more influenced by fundamentals.
Once that happens could jump significantly as in early January,when price rise as much as 85%/day was killing special interests so they cried wolf to pinksheets to get the ce slapped on basis of supposed promotion-when there was no promotion.
Thanks to special interest groups most probably expect higher shares than actually exist.
Especially if restricted shares were issued to the major investors as extra collateral for the equipment-and should be retired now that the debt is paid as per Bullit.
Ownership is abundantly clear in every PR and in my postings on ownership-which I think is in MaxShockers compilation. Pan Am 100% wholly owned in trust by and for CWRN-pretty clear.
Debt is paid so why worry about paid debt?
They are going thru the vetting by the lawyer process as part of the ce removal-as I have abundantly explained in many posts.
Should start rising next week in anticipation of PR,which hopefully will be by the last trading day of month April 29-unless they surprise us with financials earlier.
Very undervalued. Even those with a critical analytical bent say this should be at least 5 cents. Without the games I would have expected ten cents by now. There are no other junior miners or other stocks to my knowledge with these fundamentals at this low price.
No precipitation forecast in next 10 days in Ensenada area-partly sunny to sunny in next 10 days-- www.weather.com/outlook/travel/businesstraveler/tenday/M... and current temp 72 degrees.
Ensenada is semi-desert-ca 11 inches/year. A common definition of desert is an area that receives 10 inches or less/year-see wikipedia.
Sounds good. As long as they have enough production/ore at the site they have the capacity to truck and ship on the schedule I am guessing you got from your conversation with the CFO.
It will be interesting to see how much inventory is reported on the 1st qtr financials. Ce should be removed 1-5 days after financials(which includes attorney letter)are filed with pinksheets.
What size ship next time?
Don't forget to sell some for expenses when this reaches twenty five cents.
What lack of follow through?
First ship just left ca April 2.
PR April 5 -indicating that processing 1-3mm superfines will take about 10 days while they continue 3-18 mm production/processing and add more excavators to increase production in preparation for 2nd ship. 5 million profit/Kriton size ship.
I would expect PR end of this month-though they could surprise us with one when they file financials-if they don't wait til eom to do so. EOM not that far away-last trading day April 29.
Good call,especially if they uplist to the OTCBB as I expect they would. Thats the only reason I can see for their plans to have audited financials-for audited financials are rare at the current information classification.
They know its likely the last bear raid before financials/ce removal/larger investment pool/PR/next ship call etc-so they're pulling all the stops before market closes for Good Friday.
Thanks to special interest group bear raids, many seem to think that if there aren't daily emails/pictures PR's that everything has shut down. Production continues everyday in preparation for the next ship and another 5 million profit(or more if bigger than the Kriton).
Good compilation jmbar2. Ever since CWRN obtained financing last summer and started rapidly progressing(look at other junior miners and you will see what I mean by comparison)special interest groups have been playing this and coming up with probably hundreds of reasons why CWRN would never ship. And many believed those interest groups to their loss in bear raids like this one.
Could be. After financials,especially 1st qtr financials come out,we should get a bigger pool of investors who are moved by and know what fundamentals mean-plus the possible up listing to the OTCBB. Absent the maze of manipulation by special interest groups this might have been ten cents pps by now.
All good possibilities. Plus for the CWRN "will never ship" crowd,as they know, the 1-3mm superfines are bagged for environmental reasons,so there should be no dust. Plus-rhetorical question- how high tech is it to cover the load?
Good planning Chase.The fundamentals do not change from day to day.This day to day waiting is all emotion. Hopefully the delay is because they are trying to include the 1st qtr financials.Its quite a feat to put out financials on this operation only 2 or 3 weeks after end of qtr. And probably don't want to do just thru 12-31-if they can take advantage of the lawyer vetting to do both at the same time.
With all that has happened a forecast last November of "should" be out by April 15 should not cause panic-possible reasons for the delay have been explained.
This is SOP for pinks and for many bluechips also. The difference is that CWRN has a hot commodity w a greater profit margin than gold or silver and has successfully transitioned to production shipping and revenue-a very rare situation for a junior miner.
Nobody else has mentioned receiving one-when was this?. I was subscribed to near 100 penny newsletters and never received anything in mail from stock news re CWRN. It is not unusual for newsletters to mention a company as they did CWRN during its amazing run up in price(because that was news)and pinksheets can consider such a promotion if they want but their was no promo by company and hasn't been ever since I've been aware of CWRN.
Many years ago there was one and the promoters crashed the stock w their shares and did a lot of harm to CWRN-which is not uncommon-so as people have posted CWRN steers away from promotions.See my Jan 13-14 posts.
If he had a crystal ball in Nov when he forecast 4-15 for 1st qtr financials and had been thru the current info process before and knew how long the lawyer vetting process took he wouldn't have forecast by 4-15.
However some of delays are not CWRN's fault-including manufacturer equipment delays and special interest games-part of whose purpose is to get people to blame the company for problems created by special interest groups.
Even without these unforeseeable (as of November)things,you won't find many companies who post within 15 days of end of qtr-especially if they still intend audited. Most companies take 45-60 days to post-and thats without having to deal w ce or back financials.
So the only deadline re 1st qtr he has missed is a self imposed deadline. And if he posts by Monday a.m what is the difference-no market from 4pm Fri to Mon am anyway. Why is the sky falling?
On whose timetable? People need an understanding of how other pinksheet companies operate-other than financials CWRN has been more open/reachable by investors than any penny company I know. Some junior miners communicate only once/yr and the CEO etc is unreachable and either don't have or don't answer email etc. Put things in perspective.
One of the reasons I am in this stock is because our group called many companies as part of the dd process as investors(not in our professional capacities)-and Bob was the ONLY CEO who was reachable AT ALL. In addition,there were only a couple companies who even returned emails. Some want 100 dollar stock transparency for .012 pps.
There are a lot of special interest groups crying wolf/the sky is falling-when it isn't. There are a lot of bigger things in life to cry over. Do I get frustrated by these special interest groups profiting at the expense of others. Yes-especially as they are biting the hand that feeds them by destroying/contracting the market/making sure nellies NEVER profit. So eventually nellies drop out -the market shrinks etc in a vicious cycle-taking advantage of the culture of fear they have created.
I understand your point of view.
Pink companies are notorious in not contacting the lawyer needed for this process until the last minute-not realizing all the hoops the lawyer has to jump through before he can provide a certification letter.
It takes 2 or 3 weeks for the lawyer to vet all these things-unless he doesn't have any other clients-and did anybody notice this has been tax season when accountants and tax and sec lawyers are extremely busy.
Other pink companies have reported this as the reason why their financials are late-and all the other companies who have promised financials that I'm following are late also-this is essentially SOP for pinks -its not unusual.
Since Bob noted intention to have audited by Apr 15 a lot has happened which changed the game. They wanted to have revenues 1st-that was delayed by separator being delivered by manufacturer 1 month late etc.
ce was slapped and removing it requires additional steps-you have to go back and supply all the missing quarterlies back to the last filed for the 9-30-09 qtr,including possibly an initial company information and disclosure statement. All the extra steps are extra work,especially if you want audited.
My understanding is Bob contacted lawyer late March-not realizing how much time it would take for the lawyer to coordinate w accountant and vet company info other than financials and meet w officers/board to verify things.
This is typical for companies who have been thru the process many times -they fall into the same trap every qtr-and CWRN has never been thru the current info lawyer vetting process-so its not surprising they fell into the same trap -especially in tax season.
Some have pressed CWRN to delay reporting in order to reduce share buyback costs(I don't mean by postings on this board).
I am not a CWRN adviser nor paid to promote etc but I would advise CWRN against taking such an approach-which would be dangerous on several fronts.
Not to mention the practicality that at these volumes it would take many months to complete the 1st 60% buyback.
And CWRN intends on up-listing I would imagine to the OTCBB in next few months-as some have implied on this board-thus the reason for the audited financials-and they obviously can't do that as long as the ce remains.
See my posts from Jan 13-14-part of which is in MaxShockers compilation. When market forces temporarily broke a 6 month artificial depression by etmm,special interest groups were being killed by the several day up gapping -so they called pinksheets to shout wolf-claiming a promotion.
I called pinksheets Jan 13 or 14.
Pinksheets looked at the rapidly rising multiday price which LOOKED like there had been a promotion so slapped the ce-which they are ready to do w any company below the current info level because they want everybody to have current info level.This is a common way to force companies to become current w financials.
The buyback rules you posted were enacted by the Republic of Nigeria-google it. Notice also the British lexicon-"programme".
This draconian Nigerian buyback programme has nothing to do w the U.S securities markets or CWRN. ca 4th time I've posted but the message is not getting thru to some.
Again this was enacted by Nigeria and has nothing to do w CWRN.
There are 2 forms of transparency.Because of the interest group you favor you publicly only look at one side of the coin.
Financials is one side-anybody who has read the extensive dd here-partially extensive because of unparalleled communication with the company-a type of transparency- already know a good deal about the financials.
The other side is the unparalleled communication w the company plus numerous frequent pics by the company and independent pics re every step of the operation. As well as independent tours of the mine etc.
I have never seen that kind of transparency w any other company-let alone a junior miner-where you sometimes don't hear from other companies for up to a year and there is no email communication etc w the company either.
By your reasoning the 15th isn't over yet-and even if there aren't certain games I've explained in many posts the detailed process to becoming current to remove ce.
Almost every penny company and many bluechip companies are late in fulfilling promises and deadlines-this is not unique to CWRN.
Would you rather pay 4237 times more for a 50 dollar stock in order to have filings more on time. Risk vs reward. Risk is mitigated by pics of every step and independent verification.
The balance sheet and income statement can be guessed from the available info-the biggest uncertainty being the amount of processed ore in inventory.
Can special interest groups who blame CWRN for their doings-pushing pps down-be held accountable? It all depends on which way the wind is blowing. Financials are coming. Production and shipping are facts.
Didn't Nielson say don't call me Shirley(in the airplane movie). Nielson wouldn't have had so many pratfalls if he had bet on CWRN-public service message. But then you never know.
Everything went downhill after Rodney Dangerfield died anyway-for he took all the respect with him. So what does it matter if Frank is his given name and Willis is his nickname.
Willis is his given name. Frank is his nickname.
The CFO was able to be frank re those things because they had already been PR'd or revealed in other in other ways.
He meant the production volume would go way up because of the increased equipment.