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yes,proving that some of the biggest negative posters are dishing in order to buy cheap. Then once they buy some of them start promoting until they sell and start the cycle all over again.
According to this reasoning almost every penny company and many blue chips would be flagged. For in my experience almost every penny company has "forward looking statements".
See the note at the end of the PR's of most if not all of these penny companies indicate the PR contains "forward looking statements".
All of the penny companies I've followed and many blue chips also experience delays,so this is par for the course.
CWRN has achieved something very rare and has an initial contract for apparently 105,000 tons somewhere near the spot of $184/ton,which is ca $19,320,000 for this initial contract.
Trucking has begun. Those in the know expected 3 weeks or so of trucking before the ship could sail-see pesquero's recent posts.
The final step has begun and the efficiencies should continue to improve as they perfect the process.
As I and Bullitt and others have noted there is probably 32 million stockpiled or in transit to the port and building at the port in prep for shipping.
As people have noted it took effort to avoid the quick sell in order to do it right so there would be enough stockpiled to keep the trucks running without running out of stockpiled ore.
Pesquero etc expect efficiencies necessary to run a 35k ship every 3 weeks. 13.03 weeks/quarter at intervals of one 35000 ton ship per 3 weeks at $184 spot is $27.97 million. Caution-this is a forward looking statement based upon best available evidence.
Try to find another penny company w that kind of revenue at this share price and count.
This schedule may have been estimated prior to addition of the 3rd shift-if so that should speed things also.
Since the CE issue has raised its head via bashers and PR today,I note several of my posts addressing this issue,which were linked,including the following.(Some of those posts seem to have disappeared even from the listing of my posts because these posts expose special interest groups antics in this matter).
There is no evidence that the company did anything wrong-as OTC TRADING Desk told me there was merely a PERCEPTION of a promotion due to rapid price rise. They didn't realize this was a rare penny entering production w substantial revenues soon coming.
But because of this past perceived promotion,the company played it very conservatively in today's 1-31-11 PR,as noted by others.
Friday, January 14, 2011 12:26:45 PM
Post # of 24782
I called OTC trading services days ago(otcmarket.com-212-896-4420 or 1-800-547-8682).
They told me the reason for the status change is a PERCEIVED PROMOTION.
That companies without current filings for which there is a promotion may receive the CE symbol.(They intend to post filings at end of this first quarter).
He said they look at a number of things-especially price changes and market activity.
This is what I suggested earlier.
Special interest groups complain because they are being killed by the price rise. OTC sees no current filings and sees the dramatic volatility,large volume and price rise of the stock-so it LOOKED like a massive promotion by many newsletters was in progress(there was none).
The stock was not only gapping from day to day but intra-day-something I'd never seen before.
So as a caution they issue CE until they can determine what is going on re promotion.
As suggested by somebody else the PR re 1st quarter revenues when the company had no current filing may have factored into this as a promotion.
He said they have no knowledge of any fraudulent activity and did not receive the status change because of any fraudulent activity.
One of the persons who first posted the suggestion of fraud-who has believed the same since 2006 and suggested that the pictures were fake,probably knows what I've just told you-because they are far more experienced at this game than I(I don't like games and won't play them and even my enemies recognize and are afraid of my integrity).
So ask yourself why they sounded the alarm under false pretense. Special interest groups have an agenda and it is always easier to take advantage of peoples fears to destroy than it is to build.
The false accusers know they win temporarily no matter what in this smear campaign scenario-the pink elephant syndrome.
It's evident to me there has been a strategized organized smear campaign for reasons noted above and thus the constant obsessive CE postings.
Special interest groups thus steal your money and cover-that imo is the criminal activity and would be a felony anywhere but the stock market.
As itmd says this will blow over and the stock will recover because the fundamentals-actual production w multiple shiploads of stockpiled material-are there and the company will soon have substantial revenues.
Most of you have traded many CE stocks up to at least $5/share because many of the companies promoted by stock newsletters had the CE status even BEFORE the promotion,for reasons other than a promotion. There are hundreds of such stocks.
There are over fifteen thousand stocks in the grey market alone(otcmarkets.com-more than all of the rest of the penny stocks put together)-a class below CWRN's recent no info status.
Yahoo is incorrect-otcmarkets.com has up to date market cap
This was my Thursday, January 13, 2011 post:
Re: Blue_xx post# 18455 Post # of 24573
If you mean 6B authorized,that is correct. As of close of market yesterday market cap was $47,095,480.
Divide that by the close of market share price of .0204 yesterday and you get 2,308,601,980 outstanding shares ,which is exactly the number of O/S listed on otcmarkets.com.
See my previous posts. Their PR's state a structured plan to retire insider shares in proportion to 60% buyback of the float.
This will facilitate a higher price and earlier entry into OTCQX(if they desire) and eventually a higher exchange and possibly reduce shares by 60%.
They may have another buyback after that buyback and so on. It's common for these companies ,upon achieving substantial revenues ,to buy back their undervalued shares for the reasons noted in my posts.
Also,re others statements,why would they be selling when they know share price will rise dramatically w shipments/revenue shortly. Selling now would just penalize them later when they have to buy back at a higher price.
They are 3 million under budget(see latest PR) so they don't need to sell-just to turn around and buy back at a higher price.
Would you do that-of course not. People who suggest these things have an unassailable predetermined viewpoint/interest unaffected by the facts,even suggesting the pictures of production activity were fake,even after independent verification.
They will initiate buyback,according to project manager Bullitt as noted on this board(killswitch reposted Bullitts post recently),in Feb when they have revenues.
To my knowledge there have been no restricted shares since March 2010,so the perennial cry that volume is the result of recently released unrestricted shares doesn't make sense either. There has been no evidence of dilution other than shorting/naked shorting.
I don't think recent price rise is due largely to shorts covering because the actual number of shares shorted rose from ca 26 million to 49 million....
The 2.308 billion shares minus the 1.75 billion held by CWRN(insiders)as publicly noted would leave a balance of 558 million shares,which is thus possibly the float(no guarantees).
The last company listed free trading shares(just before all the activity began last summer) was 299 million. If CWRN issued additional shares to pay for permits and other incidental start up costs,while the major financial backer paid for the equipment,that would reasonably yield a present float of 558 million.
We will know for sure when they issue filings in April.
Oddly enough,despite being the only deepwater port in Baja,the port did not have any mining specific conveyors,so CWRN bought the mining conveyors for the port in exchange for certain benefits from the port.
The port thus reportedly owns the conveyors-thus no rent to CWRN to store conveyors-and reportedly no other company is shipping minerals from the port-I don't know why since the entire N Baja backbone is in mining concessions but reportedly CWRN is the first to truck to the port.
I expect pesquero or Bullitt(if he is allowed to)to clear up the confusion re either using the three 10000dmt barges(pictured in pesquero's pics of the port) to store iron until ship arrives vs using a landed staging area-which the company has reported as available.
One report indicated iron is offloaded into a hopper which automatically feeds the conveyors. I don't know why conveyors would load onto barges if dredging is finished by the time the ship arrives(the barge idea apparently was due to dredging-though pesquero's pics showed a ship docked w dredgers working around it)-as expected-see pesqueros recent post.
Especially since the port conveyors can load 2000dmt/hour-so a 35000dmt ship could be loaded in 18 hours,notwithstanding port or ship loading hours.
But some of these questions may be answered by the PR expected on Monday.
Thats up to CWRN's investor(s)since they are 3 m under budget,but if CWRN pays off the equipment and Bobs 1.8 M loan(apparently outstanding since 2006),that will take most of the profit from the first two 35000dmt shipments.
That's why Bullitt indicated buyback wouldn't begin until mid-Feb-which at the time of that posting would have been ca the 3rd shipment.
In the larger scheme of things,with an eventual production of 105,000dmt/month or more at a present spot of $184,that would be ca $230 million revenue/year or more($252 million at an expected spot average of $200 for the year).
And recently itmd mentioned two 75000dmt ships/month at full swing,which would be substantially more(331M at $184).
So that provides some perspective-the total revenue for 1st year will dwarf the buyback cost either way.
You are absolutely right though that if they presently had the funds it would make sense to buy back now and soft pedal any news-if they hadn't already promised one PR/month-and let the shorters have their way-which will bite the shorters in the end.
I called the otc trading desk and thats essentially what they told me-see my previous posts on that for newbies. The shorters calling in in combination w the rapidly rising price made it look like there had been a massive promotion -the kind you only get from many newletters simultaneously promoting-but there was no such promotion.
Only a rare penny stock transitioning to substantial revenues-and the shorters etc-especially through etrade-had been artificially depressing the price for many months in what seemed like an unprecedented campaign to depress the price.
Thanks for posting that update Rocket.
Notice:
1)The mineral area is the southernmost portion of the port-a straight shot from Hwy 1 to the port on a Hwy shown behind the mineral area. CWRN's mine is 55 miles S of Ensenada.
2)The Mexican Navy section of the port is right next to the bulk mineral area-for those who were concerned w security.
3)The official draft has been increased from 40 feet(indicated in pre-dredging port video-but may have filled in some prior to the dredging) to 14.5 meters(ca 48 feet),w navigation areas ca 16 meters.
So it is now truly a deepwater port(thanks to pesquero et. al.-his company was involved in the dredging)--it was before also but the best ports are upgrading from the previous 40' standard to what are expected to be new Panamax standards once the Panama canal is deepened-expected in 2014. The deepest port I've found on the West coast is Long Beach-recently deepened to 53 feet by extending the terminal further out.
CWRN's shipments don't go thru the canal but will probably be using Panamax ships(75000 dmt) beginning in second quarter(as per previous PR's etc).
I agree. If Jeff's blogs are truthful this is only the first step in his "workable plan". There still remain the loan and acquisitions resulting from the loan touted to be coming-see the Nov and Dec blogs by Jeff. As my previous QASP post indicated,this acquisition is not the logical focus of Jeffs Dec/Jan out of town business and loan seeking activity,and thus logically is only one piece of the pie. All of these penny companies have seemingly interminable delays-SOP for "startups".
You are witnessing an extremely rare event. A penny company transitioning to actual production/substantial revenues. See the posts in the yellow header(the stickies). Even more rare a mining company,where the possible rewards are higher than many types of companies. The first real breakthrough of a penny company I've seen since I've been in pennies.
Trucking to port began this week and a PR is expected by end of month confirming shipping details etc.
According to Jeff's blogs that should be the case, for this isn't the big news that has been promised:e.g.,the funding necessary for expanded operations/further acquisitions. Though its possible this Centaflix acquisition could help w company advertising?
See Jeff's December blog re financing,where he said the papers were in the hands of the bankers.
This current LOI apparently doesn't require financing, so it is either a teaser(that doesn't mean its false in any way)or a stopgap until the real news of funding etc is obtained. The funding has no doubt been delayed longer than expected due to Deans actions/harassment(e.g,the false Colorado filing by Dean).
Since Jeff seems to be an honest hardworking white knight familiar w the concerns of stockholders,and since he promised an update or PR by end of January,perhaps he put this news forth while he continues to deal w the financing delays and legal action against Dean.
Besides,remember he was out of town on business til Jan 4 presumably/impliedly dealing w the subject of the big news to come.
Since Centaflix is based in the same city as Quasar,that would indicate the out of town business/big news coming concerned something other than Centaflix.
See past posts and pictures by temeku etc showing CWRN's property is on a paved secondary highway only 5.5 miles from the Baja interstate(hwy 1).
As mmaj? notes these are mm/short games(organized/planned)-probable last chance to get cheap shares before the PR promised by the end of the month which is expected to confirm the trucking and the shipping contract details,with substantial revenues closely following,w an initial shipment of 105000 tons divided among 3 35000 ton ships.
Those do look like heavy duty trucks as temeku suggested.
etmm(the chief shorter) has been attempting this hard crash ca 5 times in recent days-this time w support from shorters on this board employing the usual fear tactics. Looks like they short(apparently intraday) at artificial peak which they help to create only to trip stops on way down and try to create a panic.
The superfines are required to be bagged for environmental reasons as per one of the PR's.
Believe website indicates 0-1mm are waste.
So the 1-3mm are bagged.
Apparently the 3-18mm are worth more/pound.
Originally the 1-3mm were to be shipped by container ship in containers but they decided that was more expensive so their latest reported idea is to throw the bagged 1-3mm on top of the 3-18mm bulk on the bulk carrier. If I remember right that info came from a post by project mgr Bullitt.
shorts,from regsho.finra.org,section ORF
20110124|CWRN|12556407|45225329|O
as of close yesterday were 12.5 million shorted(at least those not being hidden by mm's)and 45M total volume yesterday
re share buyback and retirement,see my post 14301 Dec 17
There really is no residential public.There are few or no homes in the 5.5 mi from mine to Hwy one(there biggest and only Baja interstate)-said entire rural area is essentially in mining concessions.
The only affected pop is Ensenada and trucks enter on Hwy one a short distance before turning off a short distance to port on a major secondary hwy.
Website and streets/trips program indicate 55 miles to port.
project mgr Bullitt indicated 16 hr days and 1/2 day Sat.
Mexican legal load limit(all these things are covered in previous posts)is 48.5 tons. You can research wikipedia for the many trucking types available. 40 tons is general limit in U.S. w up to 52.5 tons by permit.
They've done the hard part and have ready buyers,so the trucking should work out. There are many places,including Africa ,where they have to truck much further-and ship much further also.
We've been over that . The debenture issue was an attempt in Feb 2010 to raise money before the current financing was obtained.
Only $50k of the $500k debentures were sold and it is obvious to me that no more will be-that it is a moot issue.
Why turn a molehill- 50k debt into a mountain when there is a real mountain of stockpiled iron of 165000 tons times ca 184/ton equals over 30 million dollars in ore already stockpiled.
Which is greater-50k debt you are talking about or 30 million?
You've always made it clear you don't believe in Bob but do u think his investors are crazy also? They aren't lending millions for equipment without solid dd.
look at itmd's estimate in the stickies and some of my and other posts for estimates of price at various periods of time
They found little or no sulphur,as reported in Baja 14 geological report ca 2008.
And they have reported in last months that sulphur is not a problem after testing again-see previous posts. That is elementary.They aren't going to spend millions on equipment and all this production without verifying such things before production begins.
As I said early this morning etmm walks it up fast to get stop losses set high etc and then walks it down hard and fast to create the ILLUSION of a panic in order to try to create a real panic so they can control the stock again(still controlling it) and cover.
I don't think its any accident a certain interest group has hit the boards again today-said group always seems to be organized and appear to be desperate w all the good news.
They have been walking it up steeply to presumably get people to set stop losses high(e.g to ca .018 Wed) and then purposefully walk down/crash (e.g to.0135 Wed) to trigger-m/o others have mentioned.
I would agree maybe they are hoping for another sudden downturn.
Temeku posts still ca 50 million shorted and as people more expert than me re mm games have shown me,they have a lot of ways to hide the real number of shorts.
etmm still shorting and heavily manipulating as they have for many months-I don't think anybody understands what they are thinking
In my ca 250 CWRN posts I have never blamed Bob. Blaming an innocent party for others or other forces failure is what pyschologists call blame and transferance-polite language for something worse.
What I was saying is that it is normal/average for companies to go thru 5 reiterations before success is achieved. This was in response to posts blaming Bob for previous unsuccessful attempts and to posts calling CWRN a scam.
My previous posts state there are many forces aligned against a successful startup,including special interest depressing of price so company can't raise necessary capital(CWRN is no longer issuing shares -they no longer need to).
And my posts indicate the CEO usually unfairly gets the blame for the companies inability to successfully navigate the forces aligned against it. But without entreprenuers where would we be?
I'm also glad CWRN is now dealing w a ca 180 spot and rising on what are now generally 3 month or even one month contracts(because of the rapidly rising spot)rather than 45/ton on an annual contract.
See my post 18455 and my post re buyback and retirement of Dec 17,reposted today in answer to same questions
Yes there is. otcmarkets.com ,under company info,shows 2.308 Billion outstanding shares-NOT 6 Billion.
A/S is shown as 6 Billion. Company PR's confirm 1.75 B insider shares-not 4 or 5B.
2.308 - 1.75 would logically be the float,as I pointed out previously.
This is about normal for these companies. Entreprenuers fail on average 5 times before success is achieved.
Do you want to guess how many times Edison and Einstein failed?
This answers renewed questions today about the buyback.
They buy back some of the float and RETIRE insider shares proportionally. They don't buy back insider shares because they already own them-they simply retire insider shares proportionally in a structured plan,as explained by the referred post.
This is in answer to a hatchet job article referred to by a post.
Nobody has even attempted to offer any evidence of wrongdoing by CWRN re a promotion or anything else. As if a promotion would be a crime-most of the penny world revolves around promotions.
Also,a trading matter re pinksheets is not the same as the SEC.
Journalists no longer evidence much integrity -they don't report the news(they often hardly even give an interviewed person an opportunity to answer) -they select and create and sensationalize the news because thats what gets ratings/money/promotions. I could give examples but it would be marked off topic.
If you are fishing for inside info-for reasons obvious to me-since you have never believed in this company as per your posts,sorry-I don't have any inside info.
I can see the millions in mostly new looking equipment in scores of pictures by many sources,including independent sources.
Questions that lead to doubt only feed the incessant fear prurposely cultivated by special interest groups.
What does it matter. Due to the backing we all have the opportunity to reap a rare return.
It doesn't require much imagination to know how bankers handle such a situation. They simply take a lien on the property purchased w the loaned funds until the loan is repaid.
I don't know what arrangements they have but CWRN will have enough for two 75000 ton Panamax(if they decide to use such)shipments soon,if not already.
So,with 50% net profit/shipment(ca 6.75 million net w Panamax)the investor could probably be paid back with the first shipment.
Nobody knows whether they have loaded the first truck or not or filled the bags w 1-3mm ore-questions that lead to doubt-but it doesn't matter-it will be done soon,absent "acts of god" such as earthquakes etc.
Neither do we know who the buyer is-what does it matter?
I and others have already answered the dig about the pictures.
I don't know of any mining company that allows outsiders to come in(such would likely in violation of the companies insurance policy)to take pictures for the legitimate reasons I and others have stated.
As my and other posts indicate w independent verification,the market uncertainty is due to possibly unprecedented in length(since possibly May/June)and form manipulation by etmm and others,as itmd and many others have noted many times.
And when etmm etc began to lose control due to rapid price rise-killing their and other shorts,special interest groups apparently falsely accused to pinksheets that there had been a massive promotion or something. When CWRN has had no promotion-certainly no paid promo to my knowledge since I've been following them-since Aug 2009.
Despite obvious attempts by many special interest people to crash the price nobody has even attempted to offer any evidence that CWRN engaged in a promotion or anything else-as if that were a crime. Why aren't you concerned about those groups manipulation and stealing from the stockholders? That should be of far greater importance than who or what form the financing was.
As the company has said they know they are closely watched due to all the activity and are aware of the restrictions on selling insider shares. They would have to file a form to sell insider shares which would appear on pinksheets.
High volume can be due to shorting,naked or otherwise,plus plenty of daytrading and mm games. There's no reason they would be selling when a dramatic rise due to revenues is coming in next few weeks and they are going to do a ca 60% buyback of float and proportional retirement of insider shares.
Are some still questioning the existence of the equipment as a mirage? There obviously is a financial backer . What is so mysterious about that?
We have pictures of millions in equipment and ongoing production. We know sellers are in the drivers seat in the hot iron market. All that remains is the trucking and shipping.
Absent temporary continued high levels of manipulation by etmm etc,everybody will get a good return if they don't allow special interest groups to chase them off.
Questions that lead to doubt are always easy to ask. Substantial revenues are on the way. Itmd and others have used reasonable logic to estimate pps anywhere from .36 to well over one dollar a year from now.
32 million revenue this quarter with only 50% buyback and PE of only 10 would be 28 cents/share at end of this quarter alone.
The extremely high levels of manipulation only occur because the big boys recognize the rare potential of this company.
This was Feb 2010-apparently before obtaining the financial backer ca June 2010. Only 50000 of the convertible debt offering was sold-a minuscule amount. Can't see how that would matter either way.
etmm,after failing to shake loose shares needed this morning to cover,raised it rapidly to just above .01, hoping people in the euphoria of the rapid rise would foolishly set stops close at the round # of .01 and then kept revolving the price around that figure to trip stop losses.
They will probably walk down if they can.
Ironically ,when I was looking for a broker that allowed stop loss on pennies(I could only find one that admitted to this)Etrade(etmm)had the most erroneous info-they said not only does no broker allow stops for pennies,the SEC prohibits it. That info was of course nonsense and I told the broker so.
Very few companies allow outsiders to take pictures on site. Temeku,surrogateson,pesquero and perhaps others have taken pictures from gate etc.
Company provides pictures on a fairly regular basis.
Could be lots of reasons;
competitors,
liability concerns/insurance prohibitions(remember local auto shops are prohibited by their insurance policies from allowing customers in the work area except briefly under tight supervision),
perhaps even concerns something unusual might be captured-like a coyote,unnoticed by the workers, running through the production site-or a rattlesnake run over-with subsequent outsider complaints of cruelty to animals-strange world we live in as evidenced by etmm's manipulation etc.
Companies w contracts w the defense dept are usually prohibited from allowing cameras for same reasons.
This is the true side-substantial revenues,full production
THERE IS NO R/S,DILUTION ETC. THATS THE OLDEST TRICK IN THE BOOK BY THOSE TRYING TO PUSH PRICE DOWN TO BUY CHEAPER AND FLIP OR TO COVER.
IT MAKES NO SENSE WHEN SUBSTANTIAL REVENUES ARE JUST AROUND THE CORNER.
How do you explain your positive posts-like this one- once you bought and before you sold w insider info-not info from the company but knowing the false accusations to pinksheets would bring a cautionary label until they could investigate the dramatic price rise-which looked like a massive promotion by many newsletters was in progress.
But there was no promotion. The stock had been artificially depressed by etmm/shorters etc ever since the initial breakthrough was evident last May.
And once newbies and promo players saw the 32 million in the 12-30 PR shorters were desperate and losing control so special interests libelously upped the game w pinksheets.
How arrogant ,since special interest groups have so many tricks up their sleeve they hardly ever lose. Its like killing the golden goose by destroying the very market they are dishonestly profiting from.
Ignoring that no logic will affect your agenda,its because CWRN will soon have revenues and don't have some of the same problems they experienced in the past.
CWRN has a strong financial backer instead of the JV partner who failed them in 2007.
And will soon buy back shares w those revenues.
And others posts indicate CWRN's contract w investor prohibits R/S, as u know.
Many penny companies can't break through because they are trashed so bad by special interest groups that they can't raise the funds necessary to turn the corner to revenues.
Fortunately CWRN is beyond the point where those special interest groups can destroy it,so those groups up the ante by falsely complaining to pinksheets in order to create a scare and make a killing off the resulting temp price drop-collusion and insider trading at others expense.
Where would we be if everybody made their living by destroying(and in the process destroying their souls-though they obviously don't care)instead of doing the honest work of building.
Be thankful there are enough people willing to work so the destroyers don't take us back to the caves-before fire is discovered.
There is no R/S and no email to you. CWRN and project mgr have said no R/S.Stop making these repeated libelous posts just to push price down again so you can buy and pump again,sell and trash again. If people look at your posts they can verify this is what you are doing. If you have to sell your soul to make a profit find another business.
Shouting fire in a crowded theater-I hope traders eventually wake up.
The company is neither pumping nor dumping and has millions of new equipment -some of it customized-doing it right-prepared for many years of very profitable(50% margins)production.
Once all kinks are worked out they expect 105000 tons/month,which is over 18 million dollars/month. Their machinery can easily handle that amount of production. See itmd's summation in the stickies-the yellow header area for newbies.
Some special interest players are repeatedly trashing the company and then blaming it on the company-pure transferance.
Some of them were promoting this while they held and as soon as they sold, returned to pushing price down so they could buy again and then promote again.