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.
Sorry, I misunderstood. For those who have calculators, please re-adjust my numbers/percentages!! I'm going to ask about that.
jtf
Eye, nice points, but remember, even though the dilution of the merger hadn't been calculated (btw, is was in effect; just not reported/known), the float was still the same number and, as a percentage of O/S - A/S, was HIGHER back then even w/o higher dilution shares. In other words, the merger did not increase float at that time; only recently due to ST financing needs. Yet, now we have a bigger, better, more viable company than at that time. IMO, the lower the percentage of float to o/s - a/s, the better off we are as it pertains to potential rapid price increases. It's just amazing to me that the float only represents $4m+ @ today's price.
jtf
RDG, they were used for just that...ST financing...
The point that needs to be made is what an incredible number 85m (float) is; it represents approx 4.25% of the total O/S and less than 3.5% of the total A/S... this is absolutely unheard of!! Approx 1.9b+ shares, which represent approx 95%+ of the O/S, are held by insiders, and others (friendlies) and are restricted. Plus, when unrestricted, they can't sell in mass due to rule 144 and other reasons (see PR and quote from MD).
Remember back to the run of late Jan/ early Feb? It ran to .39 due to supply/demand of stock with no real fundamentals to back it. That run will happen again, imo, when sound fundamentals; revenues and profits are achieved. I believe the potential exists that the float could be completely sucked up off the market with the right news after production kicks in and the fact that no one really has heard of the company right now; shares to fill buy orders will be hard to come by. IMO, WUCC/CPRK has the potential to become one of the most dramatic news stories in the mining industry going forward.
jtf
Spong, check out PR today from RZ....
Here's a link to an interesting report from the Utah Geological Survey summarizing 2007 mineral activity in Utah. FYI, WUCC/CPRK is mentioned on page 13 & 17. Also, The Drum Mountains (which is ours) is listed on page 11 map as #10. Sorry if I've posted before....
http://geology.utah.gov/utahgeo/rockmineral/activity/min2007.pdf
Wow, I almost forgot to post this. While I was at the plant 2 weeks ago, I saw the foundation of the new maintenance building being constructed close to the mill. Here is the pic....
Ally, i'm sure the company will keep us posted with updates/announcements coming in the near future and as the mill nears completion. I believe our patience will be rewarded. BTW, enjoy the water this weekend!!!
jtf
Spong, if you go down to the mill, you first need to stop in at the company's main office and sign a waiver before you can visit the mill (i have directions if you need 'em). Ask for a tour; anyone at the front desk can help. Hopefully, someone is available to take you to the mill (I've had 3 so far). You will be impressed as others have...
BTW, very interesting that you should mention RZ..... I know all about this company and have followed for the past 6 years (love to tell ya my story about it some day!!). Ya know, imo, w 100,000 acres available, one would think CPRK would have other resources besides minerals contained in the ground.
jtf
Ally, the company is currently financing operations at least 3 ways:
1. Selling shares-fact
2. ST loans-fact
3. Delaying payments (w terms) to vendors, supplies and contractors-opinion
Financing plan should become more clear in the near future and the company is really close to production. One thing's for sure, the plant is amazing for those who haven't seen it in person. (Oh, and the ore is too!!)
jtf
You guys are characters!!
Agreed...
Indeed....
E, the 5-10% wasn't official company news. It was my impressions/interpretations of conversations w people at the mill site. They only gave estimations as they can't determine the exact amount and therefore probably won't release a PR on amounts. However, I have hope that more substantial PR's are on the way.
jtf
E, yes, but today's PR was only a progress report that basically re-hashed info already known. I hope the "good" ones, which will help move the stock, are still to come...
jtf
CopperB- great point; I heard approx 4-6 weeks of "working out the bugs", which, btw, is less than the typical 4-6 months! (this reduced time is due to engineering plan and on site work that they were directly involved with. In other words, they know every inch of the plant, were intimately involved in every aspect of construction and can respond very quickly to kinks...) But if we can get started in mid-end September profits could be posted by year end. However, I'm still and have always been committed through 2009-2010 depending on results. FWIW, my original WUCC restricted stock had a 2 year wait from Oct 2006.
jtf
You're welcome...hope it helps...
TrueBlue, I posted my best estimate for PPS if WUCC/CPRK can hit certain production criteria etc ....see post #14868. Granted the numbers could change (both up or down) but I honestly believe we can get there.
Anyone up for some news?? We're due....BTW, I think we've seen the lows the past few weeks..... load up at these prices if you can!!!
jtf
Can't remember if I have posted this before (sorry if I have), but here's an interesting geological chart of major Utah mineralization belts/ore deposits; Kennecott (Bingham) is located in the top section and guess what? Milford is located right in the middle of the bottom section...imagine that!!
Another pic of high grade ore rock.
jtf
Copper, have you seen this rock? This is a sample rock pic of the Bornite, Cuprite and Covellite (50%+) that was announced earlier. Its the approx size of a vollyball but weighs 50+ lbs....it was amazing!! Management estimates there is approx 5-10% of this ore contained in Hidden Treasure mine ore and believe it will be found in the other mines as well. I asked if they were surprised to find this and the answer was, "yes"!!; very uncommon. This area is loaded w ore...I'll post additional pics of my visit from last week.
El- for the record, any of my posts that have referenced "undesirable" past dealings of IBCD or CPRK did not include you. Sorry if that was implied....
jtf
Dent, great question but one needs to realize the history behind the ticker CPRK to help explain this. Prior to the merger w WUCC approx 2/1/2008 (only 6 months ago), CPRK had a history and it was wrought with these kind of issues along w others that come with a pinky. However, please keep in mind that WUCC was a PRIVATELY HELD company w no requirments in regards to the SEC etc. However, that has changed now that WUCC is public although filings aren't required. This is a new situation for them and part of the merger includes taking on the "history" sorta. I've been told WUCC management wants to get in line w all of these issues in addition to others but it does take time and money and their main focus is w financing and getting the mill up and running. It will happen eventually....might not be comforting but hope it helps.
jtf
Pretty much. With the mill approx 95% complete (IMO), the point I wanted to make is WUCC has accomplished this feat WITHOUT major financing-a small miracle when evaluating the entire project!! The delays I mentioned refered to the past year and perhaps delays in ST (yes, because we don't have it as far as I know...) I don't have any reason to believe LT will be delayed. Mill construction is not coming to a grinding halt, I can assure you of that!! Production (mill processing) imo, will be in September sometime but "other" production activities have started and continue at a steady pace. Hope this helps
jtf
Just my estimations, but imo, the mill is 95% finished with most, if not all of the major infastruture/systems in place. Conveyor belt system still needed but scheduled and will be in place very soon. Work in the back part of the mill is still needed such as floatation equipment for other metal recovery etc. This area is the biggest area for work but can be quickly taken care of. Electronics/control room will be the final piece then hooking up all the connections. BTW, I will post a pic of the power poles..... 7 miles worth w lines going in the next couple of weeks; doesn't sound like much but it is a VERY, BIG DEAL.
Production is still going on as far as excavation, discovery, stock etc. However, with the financing delays, imo we're looking at mid-end of September now. But I'm looking at it this way, most of us have built a home or know what it takes to build a home...a few delays, problems, changes, etc. etc. and it usually takes time...up to 6 months or more (I know someone who had a custom home built and it took over a year.) We have a completely customized, $40m plant to build and delays are to be expected. Last September I saw the mill as a steel shell w no infastructure in place; here we are less than a year later and we are almost complete. We are still within a window thats realistic.... That's what keeps me going....
jtf
Nice pic. I visited the mill last week (third visit) and all I can say is "INCREDIBLE"!! I really don't know how they're doing it....was told that the mill would be a "state of the art" facility. Control room equipment/electronics alone cost $1.2m and is on order from Toshiba. Excavation continues at Hidden Treasure (mine is twice the size since my last visit 2 months ago) and findings are better than anticipated (including that 50% stuff-i have some nice samples). IMO, when production starts, WUCC/CPRK will be the talk of the industry. I have some additional pics/info to share that I'll post tomorrow. Get ready for the ride!!
jtf
Here's a pic of the power being installed to the mill.
Please do tell, why do you think CPRK is not a "real" company...
welcome back e
Not today, but I sure have a bucket load though!! Waiting for it to "pan" out.
jtf
RDG, ok and I agree 100%!!
El, please do tell.....I'm curious to know what info, iyo, is being posted that's inaccurate.
I can assure you that the advertising "deals" are done. That was a WB M.O.(promotion and hype); not WUCC mgt style....they know they need to perform w production and are on target to do just that.
jtf
RDG, my understanding is most, if not all of the increase in o/s is restricted and held by insiders - not recently issued but part of the merger mess/conversion. The increase in the float was not directly from the company; it was shareholders who sold previously unreported free trading shares (first time they hit the market). BTW, I wouldn't give up on the ST financing.....!! I hope/think somethin's brewing in Milford...and it ain't a Starbucks...!
jtf
T, even though there have been delays in the financing since last fall (WUCC), I'm still very optomistic regarding this company if, and its a big if, CPRK can finalize financing, finish the mill and get into production by Sep 1 or so. I believe they have the minerals in the ground; now we just need to get em out, process the ore and sell it. The price will follow (see post #14868). However, that's not to say there have been mistakes made. Biggest, imo, was the reverse merger w CPRK but that's water under the bridge now. We will move forward from that and be successful. I'm still buying shares and even picked up some today. I've been to the plant 3 times and have had the opportunity of asking/interviewing many key people. I believe this company is the real deal. Good luck.
jtf
I'm pretty sure the increase was from surprises of the merger; in other words they found some other shares they weren't aware of. The company is NOT selling shares directly into the open market but some people who had free trading shares finally sold into the market which then became part of the float. But, hey, it will all work out. They have a very detailed / direct plan to "fix" the share issue.
I think its now around 80M on the float and 2.1B o/s with 2.5B a/s. Even at these numbers, the pps can still move but only based, imo, on hitting pro-forma/production numbers as follows:
2009
5m lbs of ore daily (2500 tons of material; co estimates 5000)
1.25% recovery rate (could be higher-1.5%)
62,500 lbs of copper per day (will increase; expansion planned)
$3.75 per lb of copper
$234,375 rev per day
350 days a year production
$82,031,250 annual rev which is also est net profits. Company has stated that the revenue from credit metals (gold, silver, moly, tungstun) will pay for entire overhead and operations to include taxes.
2.1B shares o/s
EPS of .041
PE of 20 (very reasonable, could be around 25-30)
PPS = .82
WUCC needs to deliver results....
And here it sits @ .05 pps.....
jtf
My understanding is no, not yet. Gavin is new corporate PR
IMO, its on the way!! However, don't expect much movement until the plant gets finished and production starts in September. Its gonna take fundamentals/results to move this stock.
I feel its very, very close... not sure if they'll make any announcement though. But we'll know by having the company finish the mill etc.
Day traders and shorts might rule the day right now but the longs day is on the horizon... (whats that saying about the light at the end of the tunnel might be a train....)
jtf
By stating "legitimate" bills all I meant was some contractors/others are known for padding/overcharging bills etc. IMO, the character of those involved in this company would be such to pay all bills that are due.