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Good to see you back. Thought you had left our fair city. We have been saving a few shares for you just in case.
I agree on many of your points. I'm looking forward to word on current production rates and next shipment also. Special interest groups have attacked pennies so hard since the great recession hit and even worse since Sept 2009,that if they win this tug of war,they may succeed in destroying the penny market entirely and then they will have to find a new playground to destroy.
Interestingly China reportedly does not allow those special interest groups and their economy is booming. Congressional investigations have occurred re those groups activity in precipitating the great recession and regulatory agencies forbid their activities in certain financial sectors during the worst of the recession. Do they really want to go back to the stone age?
That is a long way to go for iron.
Looks like a lot of iron in those rocks. Remember the picture of Sharon with the handheld meter showing 66 or 67 % iron in the area they were approaching for mining.
The given reasons are just an excuse. If CWRN had financials out special interest groups would still shout fire and twist. And some penny companies do put out misrepresented financials.
They can't pick on the unparalleled open door policy the company has had in communicating w stockholders(other than financials)-even guided tours of the mine and pictures of every step of the production process.
I don't know any other junior miner who does that. If you had to honestly choose between the 2 which would you choose. And you don't have to choose as u very well know because financials are coming out.
The extensive dd on this board has also pretty much painted a picture of what the balance sheet and income statement will look like.
Of 6 companies in August who promised concrete things within the next week or two of August,several of those companies still have not delivered what was promised last August-thats the nature of the game-Murphys law etc.
But CWRN not only obtained the permits they mentioned in August since then,they acquired ca 30 pieces of major construction/production machinery,began production(a rarity in itself among junior miners)and sold its 1st shipment.
Again you cant hold stock at 2c/share to the same standard as a 100 dollar/share blue chip-and they often miss deadlines also.
Special interest groups are out in force. Whenever a company promises something like financials by a certain date-and that date isn't over yet-but they have some believing it is-they short-knowing that most penny companies don't meet the self imposed deadlines and then they can shout fire.
I never said anything about Amex stocks. Many penny stocks never have any net income and a good portion have net income less than CWRN received from one ship.
CWRN had nothing to do with the unwanted buyout offer-which most have concluded was a scam by another special interest group manipulating for profit.. The ce was a result of special interest groups fraudulently shouting promotion because market forces were killing them.
CWRN never hid financials-if you ever looked at the last filed you can see there wasn't really any good purpose in wasting money filing info that wasn't useful prior to production activities.
So CWRN shipped the iron free of charge? Do you really believe that? Does credibility not matter?
They probably made 7 million revenue-ca 180/ton-maybe more. We don't know how much extra they got for premium ore-above 62%.
If you look at the article in the sticky thats $130 or more profit/ton-a 5 million dollar profit from the 1st ship.
Like this morning etmm is the lowest ask by far at .0117. Next lowest mm is .0137,then .015,then .0165. Even on days when buys exceed sells 2 to 1, as people have reported, etmm has a way of making it look like people are selling in order to try to crash the stock.
Interesting how the revenue side of the equation is always ignored by special interest groups. First they give 100's of reasons why shipping will never happen. And then when it does and CWRN has more revenue from one ship than a good portion of penny companies do in a whole year-not counting the large # of pennies that never have net income-they ignore CWRN's revenue,production and revenue stream.
CWRN does have a lawyer on their advisory council-perhaps as other companies are increasingly doing(because of the carte blanche special interest groups have taken in the recession to try to destroy companies simply for their trading profit)CWRN will do something about the blatant violation of the libel laws.
Chase-when I say your definition I'm obviously responding to the post you responded to -not you.
That is true. CWRN is the only junior miner I have seen transition to actual revenue since I've been in pennies-so according to your definition every stock is a scam.
The long list of company and independent pictures, the independent tours of the mine(I've never seen these things on other junior miners)the pics of production and shipping-are the most evidence I've seen for the validity of any junior miner.
Yes. A lot of the trading this morning-for those who don't have level 2- seems to have been etmm selling to themselves to push price down- for in early going other mm's were many ticks above etmm's ask.And all of them except for one still are.
To take advantage of usual weak market forces on Friday and perhaps expectations of financials,which may or may not come out today. It would be nice for market forces to prevail and play on the fundamentals which are the same irrespective of the timing of the financials.
Yes. From everything we know the lawyer, accountant and others-as part of the vetting process-have been working on it. A lot has happened since the PR of 11-22 forecasting financials by today. They obviously did not know at that time they would have to deal w the ce-which creates additional work in the process.
None of the other companies I have been following who promised financials for the Apr 1-15 period have issued their financials yet either.
Obviously being tax season accountants and tax etc lawyers are very busy right now and pinks cant afford to pay $1000/hr like the big boys -who usually get priority.
They may be coordinating the quarterlies thru 12-31 w the 1st quarter-for various reasons to release them all at the same time and cover them all w the same attorney certification letter and save fees.
So they will release them when they release them whether today,tomorrow ,Monday etc I don't know. I'm just saying certain groups unnecessarily make a mountain out of a molehill re exact timing of the release.
They had intended to wait to have revenue to show and they didn't have the revenue in hand til ca maybe 8-10 days ago.
Yes. As Bullit has said all of Bobs finances are tied up with this operation so obviously Bob and his family want things to prosper for the shareholders as well -even if they weren't the largest shareholders.
The answers that are available have been given over and over ad nauseum. Actual shipping/revenue answer a lot of questions. Independent and company pictures and tours of every step of the operation are unparalleled imo.
You either believe in the company or don't-nobody is holding a gun to your head. If you don't believe, run for the hills.
I haven't seen nor has anybody shown me another junior miner which has presently transitioned to actual revenue-a situation which is suppose to be the lodestar in penny stocks.
So if longs can't make it in this situation there may no longer be any place in pennies for us. But special interest groups need us-or every stock would be destroyed by default and then the game of special interests would be over.
No need to turn the world upside down to spin
From wikipedia:
"Although there is no official definition in terms of exact tonnages, Handysize most usually refers to a dry bulk vessel (or, less commonly, to a product tanker) with deadweight of about 15,000–35,000 tons. Above this size are Handymax bulkers (typically 35,000 - 58,000 tons deadweight); there is no well-defined or widely accepted size sector below 15,000 tons."
CWRN doesn't use handysize as per this most common def.-they use Handymax and have said they plan to increase to Panamax in 2nd qtr.
Besides the article only posits a .4 %(under 1/2%)increase in handysize so even if CWRN did use them it would be negligible.
The real story is the profit margin in iron.
The sticky shows most jr miner costs at $20-50/ton and some have negative cost due to premium iron(over 62%)-and CWRN has premium iron(59-67 % website and recent reports BEFORE separation-China averages only 30%).
With spot at time of contract and now both $180 or more CWRN's profit should be $130/ton as temeku said-maybe more depending on how much over 62%.
But why worry about it-you said many times CWRN would never ship anyway-so how relevant could shipping costs be?
You are welcome. Just an unpaid investor like yourself trying to keep things honest.
Lots of reasons I guess. People always thinking there is a magical formula and a lot of other opportunities for big gains out there-if I knew of them I would be in them-90% of pink stocks decline.
People don't understand how rare this transition to substantial revenues is. Try to find another stock-especially a junior miner w this revenue/profit margin and growing-at this pps.
Unparalled (imo and of others)manipulation-both as to intensity and duration-by special interest groups(and one mm representing such groups)taking advantage of the good trading opportunities provided by this rare situation.
Questions/boogie men constantly shoved in investors faces by special interest groups who shout fire wherever they go- a lot of traders apparently don't understand how or why that game is played.
And as a result of those games and the ce new blood is cut off.
Imo manipulation-not market forces-have been largely controlling pps-which has been artificially depressed for many months by etmm ans others.
The 12-30 PR prompted market forces to regain control until the special interest groups fraudulently shouted promotion to regain control.
At some point,as long as there is ANY logic and the earth is round,a number of upcoming events should again elevate market forces and increasingly drown out the manipulation.
Many have noted the upcoming filing of current financials and consequent removal of the ce as one of those seminal events.
As long as CWRN keeps producing and financials are filed market forces will at some point prevail and could very well rapidly increase the artificially depressed pps.
As happened when market forces prevailed after the 12-30 PR and pps increased 85% in just one day of a multiple day run-w daily and intra-day gapping to the upside. Thats why special interest groups shouted fire/promotion-market forces were killing them.
Your concern is perfectly understandable. Putting Bullits remarks in the context of the things he and the company have said before,I think what he meant was they were not worried about the ce and pps because they understand the companies fundamentals and know the positive direction the company is heading and know they are working on those things.
Not worried should have been the operative word- a word they have used before.
They made that the emphasis of the 1-31 PR and have repeatedly noted they are working on the ce. And they have repeatedly said they are focused on the mining and the mining and the fundamentals will take care of the pps.
The higher you go on the pinksheet scale(pinksheet has multiple meanings-but in this context including all 7 classifications)the bigger the investment pool.
I and many others are in this because we found an undiscovered company with growing fundamentals and because of unparalleled communication with the company and know the reason for the ce status-see my Jan 13-14 posts.
But many don't know the reason and therefore won't invest in the current classification. Thats one of the reasons special interest groups shouted promotion when they knew there was no promotion-to cut off investment so they could profit.
When they file and are upgraded to current status many more may be willing to invest. The same is true if they take the next step to the OTCBB-specifically the OTCQB classification.
Even a slight change in the buy to sell ratio can make quite a difference and an upgraded classification could significantly alter that ratio by increasing buyers and reducing sellers and simultaneously reducing the effectiveness of the cyclical games played by special interest groups.
From the 11-22-10 PR:
"...beginning with the first quarter of 2011, audited consolidated financial statements will be made available and posted on Pinksheets. First quarter financials should be completed no later than April 15th, 2011 and shall be immediately posted for the general public together with complete share structure. "
It is very ambitious to expect 1st qtr by Apr 15,as most companies take 45 plus days to file quarterlies-so no guarantees 1st qtr will be filed when they supply the rest of the quarterlies-especially if they intend 1st quarter to be audited.
In the same PR the company signaled its intention to uplist to a higher exchange. I doubt the exchanges mentioned would be likely within the foreseeable future but they could fairly easily "uplist" to the OTCBB by becoming SEC reporting.
If they do file AUDITED financials that would be confirmation of an intent to uplist at least to the OTCBB, for audited financials are not required for and are rare in current info pinksheet status.
They are working on it as they have reported in several PR's. Part of the reason for a length of time is the requirement to go back and file ALL the quarterlies since the last quarterly published for the 9-30-09 qtr.
Quite a few companies have to go through this process as they are slapped w ce even for mentions or promotions not backed or instituted by the company. E.g SNE- in almost exact same position re filing of financials.
Otc/pinksheets has a policy of pushing for increasing transparency,which is a reason they require current info status to remove ce. They want all companies to be current info or better in the rapidly changing pinksheet policy environment.
The attorney certification process necessary for the attorney letter re current info status is well under way according to best info available.
Once current reports are posted ce should be removed in 1-5 days.
They may or may not file 1st qtr at same time. Presently,to be current,they need only file through 12-31 qtr.
There will likely be considerable equipment assets of 2 million or more-unless a large proportion was leased etc-and in that case the cash on hand balance will be that much larger-as the Kriton shipment paid off that debt- according to Bullit.
Plus the upgraded pinksheets classification will open the door to more investors-especially now that CWRN has a revenue stream.
I don't think so ,for when somebody posted this months back,somebody also posted recent communication from that chinese buyer directed to the ihub poster essentially asking the ihub poster if the poster could use his influence(not realizing the poster had no such influence) to help the chinese company to get a contract with CWRN.
Exactly-but thats my honest best guess-very deep games played on a unique breakthrough stock like CWRN. Itmd and I and others had noted for months we had never seen manipulatiuon e.g like etmm's at such a level for so long-and thats just the mm-and that was months ago and it still continues!
Somebody else who always knocked CWRN since 2006-and very imaginatively at that-w very long private messages to people w very crazy ideas trying to scare them-now possibly taking their revenge under the guise of a well known long.
I've asked this new person to give some explanation of his total turnaround for some time but have not received any answer. Some have privately indicated ulterior motives for the flipping as an alternative possibility.
As jackg said in Jan CWRN will make many millionaries--and there are many who want to take that profit through games along the way.
Junior miners are uniquely positioned -especially w irons high profit margin-to reward investors -and since I've been in pennies CWRN is the 1st junior miner I've seen make that transition to revenues.
Thanks to everybody else(too many to list) who has tried to keep this honest and have provided great dd while we wait for seminal events and market forces to drown out manipulation.
Could start seeing some of those events soon.
Yes the current area they are mining grandfathered on the old industrial cement company permit. The cement company drilled holes and deep trenches and CWRN bought those maps etc.
They talked about permitting several other areas in the Aug PR at same time but w all the other games being played I've never asked them where those other permitted areas were-Baja 4 is probably one of them-and other sections of Baja 14-one of which Bullit mentions in the post you noted.
That doesn't include the new mine for which they paid the concession fees.
I look forward to the day when market forces prevail and a larger pool of investors moved by fundamentals-not games-holds the cards on this stock.
Ca 38500 tons were shipped. Rest of dwt is people and fuel and ballast.
Profit ca 4 million-maybe higher-temeku-who visited the mine w Bob and the port said ca 130/ton profit-which would be ca a 5 million profit.
Recent article posted(see stickies) shows most junior miners cost ranges from 20-50/ton and some have negative cost due to premium ore-CWRN has premium ore-so that is an apparent confirmation.
The mention of 7 million debt was based on a very old funding regime(several regimes back) that never came to pass and had no basis in fact-at a time when ore was only ca 1/3 or less the price-w a proposed K of 45/ton-not the ca 170-180/ton for 1st shipment.
The debt was probably in ballpark of 3 million-at least excluding Bobs loan-maybe even less depending on how much of the equipment was used or leased.
The project manager indicated 1st shipment would pay off the debt.
I only saw a very distant pic of port which could not prove no ore at port-could easily hide several vertical feet and its limited field could've hidden a 2nd pile-I'm not saying it did -I'm just saying the distant pic I saw could not prove these things.
With 24 trucks at the logistics posted by others they could truck a Kriton load in 2 weeks-3350 tons/day. Whether they will is another question. There is a ramping up process to work out problems etc-that is normal w any startup.
If they had 1-2 million remaining after the debt was paid off they could easily add the extra excavators and begin the buyback at the same time.
Absolutely. They know the financials have to be prepared before the attorney can provide the current info certification letter. They called the lawyer for such late March so current financials(thru 12-31)would logically have been completed by then.
The financials thru 12-31 could probably be released any day now. Might take longer for 1st qtr-or they might be able to release 1st qtr at same time since the attorney is most likely well advanced in the certification process by now-if the accountant can rush the 1st qtr financials.
I agree. TA's want and ask to be gagged so they don't have to deal w the nonstop chatter.
Besides,what good does it do if they are not gagged but still don't respond to inquiries?
I've talked to hundreds of lawyers,scores of accountants etc but have never been able to get an answer from a TA on any stock. So how is ungagging the TA going to be the solution if they wont answer inquiries anyway?
Other non-dilutive reasons have also been noted but there is always a new group of non-dd newbies for the cry wolfers.
Its thought that CWRN's investors may have received RESTRICTED shares as extra collateral. Said investors have chosen to remain anonymous and may have asked TA to be gagged.
CWRN's project manager has said the debt would be paid w the 1st shipment-which has now occurred. CWRN probably got paid for that shipment last week-so now any such restricted shares can be retired. No harm no foul. And fewer newbies will commit suicide as a result.
Its just another excuse to cry wolf and make a mountain out of a molehill.
I see special interest groups have shown up again last couple days w their usual recycled shouts of wolf-to make a profit by deceiving newbies.
Re the question of ownership this -like all of their other obfuscations-has been answered many times-and was last posted Apr 5-and is part of MaxShockers compilation.
This was one of my many answers to this question over the last few months- from March 3:
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 shareholders. It is de facto a wholly owned sub though CWRN calls it an affilate presumably to comply w Mexican mining law.
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.
Who is CWRN? CWRN is the stockholders.
So this contract/trust is for the benefit of all CWRN stockholders.
As you can see from the pictures Bob and Sharon(who I believe is his wife-not just girlfriend)are happily married and working w each other. Sharon is Pres of Mexican co w Bob as VP-to comply w Mexican law -since Sharon is a Mexican national-as noted by a previous PR.
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 never find this successful formula.
Thanks. Another thing I should mention about timing-which was brought up. Very few companies meet the timing in their PR's.
Back in August a number of companies I was following had PR's re certain things promised to be done in next 2 weeks. I believe CWRN took a few weeks longer than promised but got it done-faster than any of the other companies.
Some of those companies still haven't executed what they were promising back in August. I could go through a list of companies on my watchlist and not a single one of them has met the timetable they PR'd. That doesn't mean all of them were lying. It more likely is a reflection of Murphys law.
So re the complaint today about none of the PR's being right-that is misleading. The timing may not have been according to the queens rules but many of those PR's have been executed in principal in order to get this far.
Is there production and shipping and revenue? Isn't that the important thing(and to increase the rate of those things)not the timing of things past? By somebody who said many times that Bob would never ship. Were those predictions that Bob would never ship for a hundred reasons -such as not enough trucks in all of Baja-true?
I agree. I don't know what some expect. Even though we don't yet have current filings we know fundamentals are there partly because the accountable representations have been made, we have been shown just about every step of the operation in pictures etc,plus regular PR's and many emails/accessible CEO/many independent pics and tours of the mine etc.
Mining companies -especially iron now-are some of the most profitable. Many fields only have a very small profit margin for well established successful companies.
Junior miners that make this rare transition to production and substantial revenue are very rare-this is the 1st I've seen make that transition-about the most profitable transition you can find. Thats a large part of why we have been witnessing this near record manipulation.
Thus absent the near unprecedented manipulation and every type of interest group manipulating to take profits this should be much higher. Yes there are questions-which is true of most penny stocks. Thats why this is only presently ca 2c /share not 20-100 dollars/share. Risk vs reward. Some seem to want answers that only 100 dollars/share can provide for 2 cents-ignoring the risk/reward concept.
imo.
Yes-at present they need to file missing financials since the last posted financial Oct 7(for the 9-30-09 qtr)thru 12-31-10 qtr to have ce removed. This is what Bob meant when he said they have to go back to the beginning in filing financials.
Plus the lawyer letter certifying they have met the current info standard. As I've noted companies contact lawyer at last minute not realizing all the steps/things the lawyer has to verify -including often meeting w officers,BOD and accountant. That part of process can easily take 2 weeks or more-especially if its the 1st time -as it is w CWRN-in the current info status.
They also intended to have financials for 1st qtr by April 15-which would be lightning fast(most companies take 45-60 days after end of qtr) -and could only be done if the lawyer has a leg up on the process because he has already been currently going thru the process for the 12-31-09 to 12-31-10 financials.
Otherwise CWRN has reported they are up to date on pinksheet fees.
Some days back somebody was claiming at least 7m debt because of supposed 10 million funding less the DEC 3 million reported "under budget".
I couldn't figure out where they got the 10 million figure and they didn't cite a source. I now see a Jan 2009 article or PR discussing that. But that is obsolete-that was an idea only that didn't see fruition and was several funding regimes/ideas ago. The recent funding has nothing to do w that 10 million concept.
Reminder that Bullit said this 1st shipment(Kriton) would pay off the debt-debt which was obviously much less than 10 or even 7 million.
Thanks for bringing that to our attention-that is not well known.
The cement company reportedly also did some deep trenching.
And the hilly topography is also a partial substitute for more extensive drilling-compared to a plateau.
The whole Baja mountain backbone is mapped as a mineralized area-including a lot of iron-as noted in maps on the Baja 14 geological summary on the website.
Structured plan combination of buyback and retirement of insider shares(12-17 post or MaxShockers compilation)
Increased production from additional excavation equipment
Coming progress on the new S central Baja concession.
Possible other concessions/alliances
When they do file financials-that should include all quarterlies back to last quarterly(9-30-09)to become current status on pinksheets.