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AA, happy to help out. I hope all my info helps shed more light on this company/stock. I really try to provide the most accurate info I can so everyone can make good decisions on this investment and eventually (hopefully) make BIG money...
Happy investing...w CPRK.
jtf
RDG, who is in charge of posting / editing pictures on this thread? I have a couple of updated ones that would be different than those posted. There are 4 pics of the ball mills being installed (imo, 2 to many...) Please advise...thanks in advance.
jtf
Rooster, (and everyone else), WB is GONE!! The rumor is he was left with an insignificant amount of shares. BTW, imo, if MD ever sees him again in person, MD will be hard pressed to restrain himself - literally... WB was almost the downfall of WUCC and did nothing for WUCC and its shareholders but provide a massive headache, misinformation, and misrepresentation (this I know for a fact cause I met him and heard the bull&%*t and lies). WB is lucky WUCC doesn't initiate legal action.... All pre-merger CPRK shareholders are lucky to be involved in WUCC. However, WUCC mgt has put this behind them and is moving forward with the biz plan, the public capital structure (which will still work), and LT financing (announced). ST financing is on the way...
jtf
OF9, nice post; I read it today in the Salt Lake Tribune and was going to post it...you beat me to it, good job!!
jtf
Some interesting info on copper from Wikipedia...
Copper is a chemical element with the symbol Cu (Latin: cuprum) and atomic number 29. It is a ductile metal with excellent electrical conductivity and is rather supple in its pure state and has a pinkish luster which is (beside gold) unusual for metals which are normally silvery white. It finds use as a heat conductor, an electrical conductor, as a building material, and as a constituent of various metal alloys.
Copper is among the most important industrial metals. Like fossil fuels, copper is a finite resource. Copper is being used extensively in electrical power cables, data cables, electrical equipment, automobile radiators, cooling and refrigeration tubing, heat exchangers, artillery shell casings, water pipes and even jewelery. This reddish-brown metal is a commodity that the world cannot afford to be in short supply of.
Copper is an essential trace nutrient to all high plants and animals. In animals, including humans, it is found primarily in the bloodstream, as a co-factor in various enzymes, and in copper-based pigments. However, in sufficient amounts, copper can be poisonous and even fatal to organisms.
A number of countries, such as Chile and the United States, still have sizable reserves of the metal which are extracted through large open pit mines, however like tin there may be insufficient reserves to sustain current rates of consumption.[1] High demand relative to supply has caused a price spike in the 2000s[2].
The Earth has an estimated 61 years of copper reserves remaining.[20] Environmental analyst, Lester Brown, however, has suggested copper might run out within 25 years based on a reasonable extrapolation of 2% growth per year.[21]
Copper has been in use at least 10,000 years, but more than 95 percent of all copper ever mined and smelted has been extracted since 1900. And as India and China race to catch up with the West, copper supplies are getting tight.[22] Copper is among the most important industrial metals. Like fossil fuels, copper is a finite resource.
Bridge loan is next key piece to the puzzle and imo is the next pr to move the stock....1-2 weeks??
FWIW, (can't remember if i posted this before or not), when i spoke to the appraiser who compiled the 2005 report, he indicated there was "significant" evidence that the milford mineral district has platinum ($2000 per ounce) there. He also indicated that his "research" on the history of this region also indicates that this metal is present. Whether CPRK wants to pursue this "potential" is unknown to me....I'll try to verify. BTW, assays results are revealing more gold than thought. Also, I have seen pro-forma's and the company believes the "credit" metals (gold, silver, moly, tunstun, iron ore) will easily cover overhead/op expenses and the copper will be 100% profit.
Here's a tidbit on Platimum from Wikipedia: Platinum is an extremely rare metal, occurring as only 0.003 ppb in the Earth's crust, and is 30 times rarer than gold. If all the world's platinum reserves were poured into one Olympic-size swimming pool, it would be just deep enough to cover one's ankles. Gold would fill more than three such pools. Kinda interesting...
jtf
I agree... and definately an asset play.... my understanding is insiders (and restricted stock holders) can't sell until Feb 1, 2009 at the earliest in addition to the major insiders still being held to 144 rules....however, I do know there are some shares owned by a few shareholders that are free trading but have not flowed to float yet but could...
jtf
Eye, as usual, all of your points are right on and what I was thinking too. (BTW, JH was great and believe me, I was following the action on my blackberry.....you probably wouldn't believe what a .01 move equals for me....!! sure glad I loaded up with more @ .045; imo, in the near future, longs will look back at today's prices and wish they'd invested more too. however, price could back track some going forward..)
As both of us have analyzed, if financing / production / rev projections hit, the stock price will take care of itself. ANY earnings, let along .025-.05 per share (which is entirely possible), will make the price increase dramatically (IMO $1+ ....i.e $100m profits / 2B shrs = .05 eps; with p/e @ 25 = $1.25 in 2009, 2010 and start ups can have higher p/e's) and then throw in a potential dividend (very, very REAL) of .005 - .02 ??!!! Look out.... plus the float is incredibly low for the company's capital structure (60m - 80m). We only need $1m - $2m or so of new money interest (or company buy back.... :) to snap up the float and then mm's will have to really move the price up to fill orders....
I'll check in w CPRK this next week and see how financing / bridge is going and any other info that they can share...
jtf
WOW, I leave for Jackson Hole to golf for 3 days and the stock triples??!!(btw, it snowed on us today!!) Anyone interested in sending me there for the rest of the summer??!!!
My understanding is R/S won't happen any time soon but might be considered after production and revenue kick in and in conjunction with move to AMEX (a real possibility...) Anyway, it will only happen if a real benefit to company/stockholders etc; not just a price gimmick.... with 90%+ restricted/insider shrs it isn't as important anyway....remember, its all relative anyway...2B @ .10 or 200m @ $1...you choose... but would concede its more for psychology / credibility anyway...
jtf
Mulley...to bad for the Brown horse...
Eye, here's my take on the news and perhaps why the stock didn't move more (but believe me, this is great news and a nice start to the overall biz plan!!).
- It's about time! Was really supposed to happen fall 07 / spring 08.
- Investors already anticipated that CPRK was in LT financing negotications and it would happen
- Commitment only; news will be better when they actually finalize and fund
- Funding still approx 4 months away
- Working on bridge loan for current operations - KEY
- Lender not a household name (ok w me)
- Investors don't understand what a rev bond is / how it works (from what I understand, its about as good as CPRK could have hoped for...low interest rate, longer amortization period, and NO dilution)
Anyway, good start and things are moving in the right direction. BTW, everyone / everything at CPRK is upbeat....
jtf
I agree...
Frame, I got the user and password info when I invested in private placement...(long before the company did the r/m). I don't feel comfortable listing here which would be available to non-investors....(don't know if improper or not) I would suggest either calling the company and / or an officer / mgt. You might have to "prove" your investment in CPRK. However, there is nothing there that is secretive...just history, studies, reports, feasibility analysis, executive summary, appraisals, financials etc.
OF9,.....hopefully a good move for CPRK...(see #13913). BTW, I have a feeling float might increase as the company gets a handle on who owns what (like more WB bull#&@% and pre-merger CPRK stock structure surprises revealed) in addition to some "free trading" shares working into float...however, hopefully everyone will keep in mind that a huge % of o/s are restricted (majority of mine) and are held by insiders...at first glance, stock structure might seem an issue but IMO that is not the issue...financing / production are KEY!!
jtf
Just people wanting to sell is today's news... (maybe they don't know what they have); last I checked the ore (and the company) was still there. Fundamentally, nothing has changed since the stock was at .05 or .15 or .30. However, they need to finalized LT financing which is very close to happening. These kind of days will hopefully flush out those who don't want anything to do w stock.
Gravy, I respect the fact that you don't like the 16:1 r/m but could you please explain "why" other than the obvious (additional shares)? What do you think it should have been? What value should have been estimated for WUCC?
Remember,
WUCC has 100,000 acres - CPRK had 2,000
WUCC has several respected industry reports / appraisal w $20b for 10% of property - CPRK didn't (maybe $1-$2b valuation but only an estimate)
WUCC had Hatch Engineering complete a feasibility report - CPRK nothing
WUCC has a plant 90% finished - CPRK had nothing
WUCC has equipment and machinery - CPRK had none
WUCC is a few months from production - CPRK was years away
WUCC has approx $40m in invested captial - CPRK had approx $2m
WUCC has a reclamation bond in place - CPRK didn't
WUCC is currently negotiating LT financing w several options -CPRK wasn't even close
WUCC has 60 employees - CPRK none
WUCC has several respected managers/geologists etc - CPRK none
WUCC was raising capital @ $2 per shr pre merger / .125 a shr post merger
WUCC does have $25m in debt - CPRK doesn't (only negative)
I guess CPRK had Wilf Blum - WUCC...thankfully got rid of him!!
Anyway, I don't want to sound disrepectful, but CPRK shareholders are lucky to have had Dotson "swayed" to merge; you're along for the ride and we can't change the stock structure now, but as Eye has analysed so well, if WUCC performs, the stock structure will still be ok, even at 2b o/s. I believe the company can deliver .05 eps in 2009/2010. IMO, this is the most unique capital structure probably in all of pinky land...imo, it's way undervalued and a long term buy.
jtf
Eye, thanks but I have no idea what that means!!! Hopefully its a good thing!! (I'm sure it is...) Keep up the great discussion. BTW, imo financing is very, very close (and key) and I also believe WUCC mgt feels the stock price is way under valued and will initiate strategies to increase price (promotion, PR, buy back, different exchange, etc are some options I hope they consider in the future). But obviously, performance / biz execution is the biggest...
jtf
Eye, i agree w how you got your calculation but imo, i think the restricted shr percentage is more like 90%+ for this reason....there are probably some o/s not restricted that are also not in the float...but either way, it is still an amazing # that are held by friendlies / insiders. I'm holding until I can see 2009 / 2010 performance.
jtf
RDG, my understanding is 1 year from issue date. However, large insider holders are still subject to 144 sales.
jtf
right on...
Dent, here is a quick overview of, what I perceive, are the differences:
Risk of Financing a Mine:
1. Pollution exposure
2. Safety / Accidents
3. Environmental impact i.e. (what if the "left toed, green glowing, honey lizard" is displaced??!!!); PETA/Greenpeace shut down operations
4. Social concerns
5. Highly regulated; MSHA / laws / govt etc.
6. Supply / demand / price of metal fluctuation
7. Capital intensive
8. Expense factors; labor (strikes etc), mill efficiency, technology, operational raw material costs
9. Cyclical
10. Competition; dominated by 10+ major companies
11. Reputation risk of making loan; negative publicity
12. Location
13. Mining profitability historically low ; (approx USGovt bond returns) / why bother??
14. Sustainability (what if promising results "dry" up?)
15. Management / biz plan / engineering of project etc
I'm sure there are many more...probably just talked ya out of investing..!! In summary, mining is very high risk (but can be high reward, too). Even a "proven" reserve has no guarantee. This is why financing a mine is such a challenge in comparison to a home equity line or other type of biz loan. My take, stock is at .05; fair value, imo, is much higher...I'm invested (even with all the risk)...
jtf
Eye, u indicated I said company is selling shares to fund current operations which was said in a discussion of end of the day trades/activity. To clarify, I personally only know of RESTRICTED shares being sold to fund current operations. They obviously wouldn't be part of the daily trades. However, the company could be doing something else or individuals/others who received non restricted shares for services etc could be selling. Also, imo, I don't think any insiders are selling....just wanted to make that clarification. Keep up the excellent analysis/discussions...u're spot on.
jtf
Dent- mining financing and getting a home loan are just "slightly" different...if you need an explanation, I'll be happy to explain....btw, they have secured $40m+ in investment/loan capital up until now....more coming...
Lazy, why don't you ask them? Last time I checked their "official" website / video; it did state it...maybe you should log in to the investors link too; plenty of info there too...why don't you do some basic dd and find out...(your alias is representative of your dd)... why don't you go to their assay lab and look at their assay tests / drilling results...oh, I forgot, you know more than the "home" appraiser or Hatch Engineering.... imo, they will secure financing (already have to the tune of $40m+)...you ask for proof and get it...yet where is your proof that they don't have it? It goes both ways...
Mulboy-you're my hero!!! But a stoke a hole?? Alright...if CPRK does what I think it will, we'll both have money to blow on bets on the course!
jtf
Yes, billions of reserves/ore proved, hundreds of millions more inferred and even more probable....and at a profit. That is why I wonder why financing is such a struggle...imo, angel/vc is way to expensive and to invasive...
jtf
A couple of days ago, I posted that if anyone had questions to let me know. Since then I have received several private replys of questions. Rather than answer privately, I thought it would be better to answer them (as best i can) publicly. Here's the questions w answers (some from company; others fact and my opinion):
1. Q) Are u buying stock? A) Yes, both free trading and restricted shares....when I can
2. Q) Is company considering reverse split? A) Maybe; imo, will consider only after production, revenue, profits and if its the right thing to do; maybe in correlation to possible move to AMEX. (company knows the risks of this strategy) imo, i think it would be ok at the right time but NOT now...
3. Q) When is the mill scheduled to start up? A) Late summer; late August/Sep 2008. Also depends on financing...each week without financing pushes start date back a week...
4. Q) Is company considering hiring another "firm" to manage stock and why? A) Yes, Co. absolutely needs a bridge/liason to the investment community. I'm 100% for it as long as its a credible firm w reasonable cost. In the article I posted on evaluating mining stocks, it states very clearly and firmly that mining stocks need to be promoted especially if they have something....need the story to get out.
5. Q) Is company close to financing, how long and what are terms? A) Yes!! And very soon!! IMO, by end of May/June...my understanding is there are now 5 options being discussed, negociated and considered. IMO, I believe it will be a combination of a couple. Terms are tough; 2 debt (high rates plus snags); 2 equity but none of the equity options dilute us. Shares are already part of o/s and would be "shifted" to equity option. FWIW, goggle "Industrial Revenue Bond"...very interesting....hummmmmm.....
6. Q) Is company selling shares into the float? A) No, current financing is sale of restricted shares and some short term loans.
7. Q) Are insiders selling? A) NO! not that I know of...can't anyway due to restrictions. My understanding is 80%+ are insider shrs and 90-95% of o/s are restricted.
8. Q) What is company debt? A) Don't know exactly...I think $25m+; mostly bridge loans etc which are past due....creditors understand and are awaiting financing which will take care of this issue.
9. Q) What are your biggest concerns? A) Financing, bridge loans (which financing will take care of) and will mgt execute biz plan. imo, they muffed up the reverse merger (they will admit that)...can't afford anymore mess ups....
10. Q) What will be the stock price? A) My estimation is .10 in a firesale (won't happen) and $1 at the end of 2009. However, with favorable exploration results (finding mother lode that is there), stock could go to $2+ in 2010+...i can wait...
Hope this helps...
jtf
RDG, my understanding is WB/Lindale has "significantly" fewer shares than before. WB was "compelled" to cough them up. Furthermore, if WB sells at these prices, he won't realize much money and is really not very bright...btw, more announcements from mgt are coming on a variety of topics...however, stock will trade flat, imo, over the next little while until financing and production kick in. Just gives longs "time" to acquire more...
jtf
Ok, privately is an option too. Or set up a new email that can be deleted after use. Whatever you decide is ok w me.
jtf
Eye, can't repsond to your private msg...can / dare you post an email I can respond to??
jtf
I read an article from Resource World over the weekend that contained some very informative info regarding mining companies that I thought would be relavent to the discussions here. In summary:
Six fundamental characteristics used to identify further consideration... (with my letter grade, imo):
1. Good managment - B. I like what I see so far, most have experience and proven themselves w other companies but still haven't delivered completely on biz plan.
2. The ability to finance project - incomplete (concerning to me). Project itself is attracting all kinds of lenders / deals but still no "official" deal. VERY IMPORTANT!! In the works....
3. Reasonable market cap - A-. Approx $100m currently (2B shr @ .05). IMO very reasonalbe considering size and scope of project. (Pre-merger mkt valuation for both CPRK and WUCC combined was approx $220m)
4. Real Asset Value - A-. 2005 appraisal of $20B on less than 10% of total project size. Metals prices much higher since 2005.
5. Comparatively low stock price - A-. .05; need I say more?!
6. The project itself - A. Company believes and drilling has proven significant finds. Article states that with discovery of zone of mineralization in the ground, company hopefully owns ground around area to go forward (we do). Article also states drilling is key with correct interpretation of drill results. Article discuss in the ground assets and how to apply a valuation. In summary, take total project tonnage. Multiply by project ave grade. Multiply by spot price per measurement (ozs, lbs etc). Then applied 5-10% factor. Then divide by outstanding shrs = approx shr value. I calculated WUCC @ over a $1
jtf
Ok, hopefully you now get a sense of how the company is and that they want to be forthright in their shareholders dealings....now does anyone else have any questions for me to ask the company...?? bTW, nothing earth shattering...I'll i'm doing to calling / emailing the company and asking...
jtf
Ok, ok... for the last time, approx 94m outstanding shrs of WUCC converted at 15.79 rate equals approx 1.5b CPRK shrs... if I got the number from the company (which I did) whats the diff?? Oh yeah, it needs to be "announced"...ok, please be patient...its coming...along w other announcements...RDG I hope someday everyone realizes how fortunate they are to be involved w WUCC project...I don't mean to insult anyone, but knowing what I know now, I wouldn't invest a $1 in pre-merger CPRK...but knowing what I know now, I have invested hundreds of thousands in post-merger CPRK. Yes, many went from .006 to .39...congrats...(and others went from .39 to .05) but it wasn't due to fundamentals; only pump, dump and profit taking...i'm in for fundamentals...
jtf
Yes, the conversion is right now at 15.79 for every WUCC share. (as I've said before it might go up slightly). They are restricted for 1 year from the time of issue (merger date). I have also purchased through a private placement / accedited shares that also have a 1 year restriction from purchase dates. The only shares I own that are free trading are the ones I have bought and continue to buy in the open market just like everyone else from prices ranging from .30 to .045. Just picked up 250k this past week.
jtf
Eye, good post (as usual)...
jtf
Makesum, you bring up some interesting commentary, but some of your info is not accurate. Remember, there are 2 companies involved here w completely different histories. Here's what I know (mostly about WUCC which was private and not a pinky until merger):
CPRK might have done all the stuff you state. WB and the gang did whatever to fund and issue shrs to the tune of approx 325m. Investors can't change it, so I'm not going to worry about....its all part of the grand total of 1.8b currently. Plus they're not in charge anymore and the way they raised money in the past has stopped and they are pursuing other strategies (not the ones you state).
WUCC/CPRK are currently raising money (approx $300k+ a month/10m+ shrs) to fund operations w private placements, RESTRICTED STOCK until LT financing is secured. There might be a few "free" shares to venders / ST lenders etc that will affect float (which btw, imo is approx 60m as of several weeks ago)
The 1.8b shrs, of which 1.5B is WUCC related, were not sold in a "short" period of time. WUCC has been raising money / issuing shrs for 4 years and at the time of the merger had 94m shrs (approx 90m insiders)outstanding w a private price of $2. Since WUCC had assets valued at least 20 times what CPRK had, the conversion (not sell of shrs) gave WUCC shareholders approx 16 shrs of CPRK for 1 shr of WUCC thus the increase to 1.8b...many had cried "dilution" which, imo, is inaccurate....dude, pre-merger CPRK had a property maybe valued at $1B-$2B and WUCC has a property ready to produce within months valued @ $20B...imo, the total property WUCC has could be $50B or more in the ground assets.
Finally, it really comes down to LT financing and production w revenue and profits. If WUCC/CPRK can deliver $100m in profits in 2009 which they have stated is their goal, even w 2B shrs, the EPS is .05; stock might be valued at $1 @ p/e multiple of 20. And if WUCC declares a .01 dividend...look out...all this commentary (including mine) will be mute as the stock will take care of itself...hope this helps but you'll decide for yourself...
jtf
Mul- you're awesome and funny!! Can't wait to meet your "gals"...
jtf
Yes, its my understanding they are working on that (both points you made)...stay tuned...
jtf
RDG, last time I checked, you can still sell your shares if you hold the certs... btw, I have calculated there are approx 95%+ of o/s shares that are restricted...
jtf