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yep....value of all stock o/s is now only $3 million. Not much left to matter. All the bad news already baked in now. I've doubled my position today and lowered my avg dramatically.
F18
I share your frustration but not your analysis. I don't believe as much money was raised as you say. I suspect the total is closer to $60 million. Since the company spent about that much on the mill and still owes millions to vendors, I wonder who's pockets you think it went into. Perhaps time will prove me wrong on that.
It appears that MS has shut things down to save money. First thing you do when you find yourself in a hole is put the shovel down. I know MS and Eric Barlow have been working extremely hard to produce a new business plan because they feel very bad for all their family and friends who have invested. They are trying best they can to make shareholders whole.
If this ends up being a chapter 11 BK and results in a sale of the company, I still believe someone will pay $100 million plus. This should be enough to pay off all the creditors and still leave about a penny per share for us. That sure doesn't sound like much when we all expected it to be .25 or more by now, but it sure looks good compared to .0015.
Before you sale your shares, ask yourself what the company is worth to another mining firm. Consider the infrastructure. The value of the mining rights. Add in the value of the drilling results. Consider some significant relief from the courts on all the debt they owe which includes much more interest and penalties than it does principle.
IMO, if you think the sales price is $50 mil or less, you should sale. If you think $50 million or more, you might as well hang on. The stock value today is only $9 million. This is now a small piece of the pie. Debt holders, vendors, lawsuits are a bigger piece of the pie than the equity. Most of the crap is already baked into the pps.
I suspect the news will be all bad for a bit longer which will cause some to jump ship and might present some excellent trading opportunities. I will be watching closely to grab as many shares as I can afford because I believe this Company, even at distressed valuations, could be sold for at least $75 million which I estimate would equal about .005 pps.
F18
Also, the creditors' skin in the game is a fraction of what is currently owed. I doubt it would take much arm twisting to get those concessions.
All factored into my earlier numbers.
F18
Which is why I also have said they need concessions from the debt holders.
F18
In order to answer your question, you must guess how much the company would be worth to someone right now. If the answer is $50 mil, there's not much left over for shareholders. If the answer is $100 mil, I could see shareholders getting between .005 and .01 per share. Anything above $100 mil and shareholders with averages around a penny should be fine.
F18
Capital infusion. Concessions from debt holders. Luck.
F18
To me the only question that matters is how much is this company worth. If the answer is $50 mil or less, shareholders are pretty much toast. If the answer is $50 - $100 mil, there is some hope for something but not a great return. If the answer is $100 mil plus, shares are worth much more than today's pps.
With gold at $1180 an oz, silver at $19 an oz, Copper at $3.40 a pound, and Magnetite at $100 a ton, I believe our mining rights are worth tens of millions. How many tens of millions is the question that matters.
I hope the Chinese and/or others will come to the rescue.
F18
I understand that the new dryer is the final step after the screens.
F18
I've heard that they have installed or will be installing some dryers which should significantly reduce the time between it falling into the bins and being loaded on a truck.
F18
It really is a great deal for them now. At the time of the agreement, the price of Magnetite was much lower. Also, I understand that the money Massey loaned us was at zero or near zero interest. Finally, IMO, we would not be operational today w/o that Massey loan.
F18
Looks like some selling on the news.
F18
Some flippers are "selling on the news". The real investors should now feel better about holding their core position. Today we became a real company.
F18
I think just the opposite. The main chemical (Sulfuric Acid) has become very inexpensive so that cementation is an affordable alternative to SX/EW.
I think the cementation circuit will be up very soon.
F18
I'm very anxious to see if this change in management will open the door to LT financing. I know for a fact that the bridge loan people are happy about this change.
F18
I hope you are right.
F18
Things will get interesting now that MD is not in control. Expect a much much much better relationship between CPRK and the outside investment community. Also, expect some fireworks. We still don't know if MD is going to play nice and he presumably has lots of shares.
I am very pleased with today's PR. IMO, it is about 4 months tardy but better late than never. MD might deserve our thanks at some point but he has not earned it yet. Most investors are way under water to be patting him on the back just yet. I hope for all our sakes that MD ends up being the genius we all thought he was a couple of years ago.
F18
I predict that Gold will have a big run tomorrow on the Wall Street sell off. Mega unsustainable deficits will spook the traders into selling the greenback and buying gold. I'm not sure that copper will run as some traders may be concerned this monstrosity being passed tonight will force us into a double dip recession. Good thing we have gold in those hills.
F18
FFF....Unless we think the CRPK story will be picked up by the big boys, I don't think it will make much of a difference. Also, the vote is scheduled for Sunday but unless they pick off a couple more votes, it won't happen.
Thanks to those who are painting today's tape. Should help for Monday's open.
F18
I'm guessing the response will include over promises followed by under delivery.
F18
My confidence in the project is still very strong. IMO, somebody, someday will pull out billions worth of copper, gold, silver and other ores.
I can't help but look at the last year and wonder if MD and this management group can/will pull it off in the next few weeks/months.
I'm still very very long the stock because I feel even if MD and friends fail, the assets will fetch at least .0075 in a BK. Huge potential with limited risk.
F18
Ore shipments coming soon. Not a question of "if" it is a question of "how much".
F18
Web....what's the latest on the plan to go private?
F18
When the pps was .0015 I thought a 10 bagger was possible but not likely in the near term.
Now at .005 we only need a 3 bagger to get to the same .015 level. That seems much easier given the 2 bagger we had just the past two days.
F18
Well put Web....
F18
Who are you and what have you done with Webtime?
F18
The only rocks being crushed right now are us shareholders'. I'm pretty sure FFF isn't saying they should not have spare parts if/when they have the money to buy them.
F18
Theoretically, the bid and ask are set at a level to create a market for the stock. The theory is that when the bid is lowered it will attract buyers so that people who want to sell their stock will have someone there to buy it. When there is limited interest in buying or selling or if someone is hellbent on making a large purchase or sell, the pps can be very volatile.
I believe someone with very deep pockets and with direct access to the market is hellbent on selling and it would be very hard for the individual investors on this board to generate enough vol to run it up as quickly as it has fallen.
BTW....I don't think the selling is by anyone who owns stock.....I think it is primarily short selling and very well might be legal given that CPRK recently increased the O/S by over 300 mil shares. Nite is just playing the averages and MD and company have done very little to make them change their minds.
Lastly, if/when CPRK gets LTF or proves profitability, the big money will come in and Nite will take notice. IMO, only then will the pps move up as fast as it has fallen.
F18
Top 5 reasons this stock could fly high and fast...
5 - CPRK becomes compliant with all pink sheet rules so that anyone can buy as much stock as they wish through their broker of choice.
4 - Mark Dotson resigns.
3 - Mill gets up and running this week or next and is quickly able to produce a consistent 25 or more tons of high quality concentrate per day.
2 - CPRK receives a buyout offer.
1 - Frequently promised but never delivered long-term financing is received which allows the company to settle all debt, get the cementation circuit up and running and provides a few million dollars to buy back some shares.
Top 5 reasons this stock could continue to tank...
5 - MD does not resign or is not removed.
4 - Mill starts up but the improvements do not work.
3 - Republic takes their equipment.
2 - Stock manipulation
1 - Bridge loan folks foreclose forcing CPRK to file chapter 11 reorganization bankruptcy.
F18
This shareholder agrees. I believe MD stepping down coupled with the company getting a few months of operating cash would put us back above $.005...if not much more.
If Web's theory of privatization is true, hard to imagine a better time then now to implement it.
F18
$$$H2O,
Thank you for the updated videos. What is clear is that they are working very hard to make the mill more efficient. Their hard work and some outside money/control should get us over the top.
I've been on a cruise for the past week. Tax season starts for me today. I predict that by the end of tax season, I will be comfortably back in the black.
F18
I do.
F18
Depends....
If it includes concessions from the loan sharks who are owed millions in crazy interest and penalties, I think the share price breaks above last year's high of .03.
However, if I had a nickel for every time I've heard that financing was wrapped up I would be playing golf somewhere warm instead of reading this board.
It will happen someday but I'm not betting the ranch it is tomorrow.
F18
Easy. We fix our transparency issues and our capital structure. This will take money and time. We will have neither until Mark steps aside and allows the rescue funds to flow freely.
F18
Technical Experience - COO
Business Experience - CEO
F18
Thanks Glockist for the very balanced report. Financing will fix many of our current problems but it does not change the past. While Mark deserves much credit for the vision to start this company and for pledging his personal shares to help finance it, (I believe someday I will owe a gigantic thank you to the man) it is clear to me that he lacks the vision necessary to run the company day-to-day.
I believe the primary role of a CEO is to anticipate problems before they arrive and steer the company accordingly. Also, good CEOs under promise and over deliver and are accountable when things go wrong. Mark has failed miserably in all of these areas. Mark always seems surprised when something does not go well and is very quick to blame others. His monumental inability to forecast the future has many people questioning his integrity. This has lead us to a 1/4 cent share price; however, the buck never stops on his desk.
If he has already secured financing to stave off chapter 11 BK, I think it should result in him being given a prominent place on the Board (maybe even Chairman) but regardless of financing, I believe he needs to give up the day-to-day management of the company ASAP. We need an independent board which will install a management team that will spend the treasury wisely, regain the trust of the investment world by making CPRK transparent and maximize the potential of our company by making the right investments in the mill to improve the yield.
Mark, if you are reading this, please do the right thing for yourself, your family, your community, your employees, your vendors, your creditors and your friends who own stock and show us all that you will not stand in the way of CPRK's progress. There is so much money on the sidelines waiting to rescue the company and bolster the share price but IMO, it will not be used unless you give up your iron grip control of CPRK.
Board members, if you are reading this, it is time to stand up and do the right thing. I'm sure there are plenty of other large shareholders like me who stand ready to support your decision.
I still am a huge believer in the potential of this project and feel our assets are worth much much more than the current valuation. IMO, CPRK's best days are ahead of us!
F18
I was not being critical of people being critical of mgmt. I am critical of mgmt. I was being critical of anyone who seems to think there is valuable information in the production/shipment numbers so far. They stink. The pps is reflective of that.
If anyone invested based on what they thought the company would produce/ship within the first 6-9 months after turning on the mill, they made a bad investment and should take their losses. However, if they invested in this company based on a long term perspective and if they share my valuation estimates, they are giddy for the opportunity to average down and buy a much bigger piece of the pie at these low pps levels.
I am certainly not above feeling pressure. I have a very significant amount of money in this thing that I can barely afford to lose. I hate watching this think tank day after day after day. But the pros make their money preying on the fears of the armatures like me and I'm not about to follow their playbook.
I predict we will hit .02 before we hit .002 and everyone who is now ready to jump out the nearest window will be feeling really good again.....Except for Web.
F18
Folks need to take a chill pill on what they have or have not produced/shipped these past few months. What will make or break this investment is what they will produce/ship these next 12-24 months.
We know they are having problems floating their oxide ore and are dealing with it by building up a cementation circuit. We've heard that it will add 4-5 T of 90% CUCON per day. We'll see.
We know they have had issues with RBS and have not been shipping consistently. However, we have heard they have a new partner who is a excellent to work with. We'll see.
We have heard they are close to LTF that will help them pay for the improvements which are needed. We'll see.
With all due respect, anyone who is basing their buy/sell/hold decision on the past 3-4 months should be in mutual funds.
F18
Only a few more hours of tax loss selling. For those who are considering it, be aware that you need to wait 30 days to repurchase or it is considered a "wash sale" and you would not get to take the deduction in 09. I know I would be very uncomfortable being out of the market for the next 30 days.
F18
Being local, have you toured the project? If so, when? How many times?
F18
No offense but I'll trust my own eyes over your characterizations of the opinions of others.
F18