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Lazy, you're probably right...I just passed on a suggestion from a broker....
jtf
I'm checking...
Yes zippy, I was told that merger would take restriction down to 1 year but what I meant to say is I'm still looking at a 2 year hold so WUCC can perform. If they do, we (I) win...if they don't we (I) lose...but not due to scam; but rather non-execution of biz plan...personally, zip, I don't know anyone who's getting "free" shares (I'm including O Hurley, VNR folks, STL, WB etc...i guess they all did "something" for their shares)
jtf
ME TOO!!!!!!!! When I first invested in the WUCC private placement last fall I had a 2 year restriction anyway....if I accepted 2 years then, I can certainly accept two years now when things are much better than last fall...
jtf
Wil- you might be right.... I'll verify
jtf
indeed....
Yes, that's my understanding...if the certs are still w broker, even if you have told broker not to allow them to be shorted, they still can.
I'm ok w people selling their shares that they own, but I really have a philisophical issue w someone selling shares that they don't own....never shorted in my investing career...but hey, thats just me...
jtf
For all the longs out there that want to support CPRK stock in another way, I heard from a broker that everyone who owns CPRK should request their certificates to be sent to them from their brokerage firms (except retirement accounts). This will "ease" the shorting of the stock....and believe me its happening.
jtf
O Hurley Fox spot...interesting, but imo, won't make the stock move...btw, the word is company working "overtime" on the LT financing...still negociating two previously mentioned options w two new options that have come to light the past week....just get er done!!!
jtf
http://media.libsyn.com/media/gasp/CPRK_MYNETWORK.wmv
Occasionally, the company will experience setbacks...in my effort to inform (both positive and negative info) here's more info I have gathered/researched. The company's plan's for a floatation VAT system are going forward as planned. I was told this will have a metal recovery efficiency of 70-80% from the ore. In addtion to the VAT floatation process WUCC was to add a SX / EW (solvent extraction electro winning) system which extracts additional copper out of the low grade VAT tailings with a recovery efficiency of another 10-15%. The system uses a process whereby the VAT tailings are electrofied and additional copper in the tailings adheres to metal dipped in tailings. However, the company experienced a small setback. The SX / EW equipment they had "bid" on was recently put on hold due to EPA restrictions on moving the equipment from NV. Mgt plans to appeal the EPA's decision, but mgt indicated that it won't affect operations and they believe the VAT efficiency will actually perform higher than anticipated. If the equipment becomes available in the future they indicated it could be added later.
jtf
Eye, you are right...financing is absolutely necessary and imperative for the mill to become operational. Orginally, mgt projected start up in late 2007, but then, due to credit crisis in Aug07, it was delayed. Mgt then projected Jun08 but that was assuming LT financing would hit by now. I still believe financing will be secured, but it still might be 2-6 weeks out (i'm hoping end of May too). I've "heard" debt financing terms are tough and has hit a snag but equity is still in the works....lot of dd to do on everyone's part....does anyone have $40m to lend to WUCC/CPRK??!!
jtf
C- I have posted many facts but not everything I've said is all fact; I've tried to post/express when its my opinion / estimation etc. I'm really trying to post accurate information as best I can.
I have called the company and spoken to many key people (which anyone can do). However, if I were to get that "info" or any other info, many would still question unless it comes from the company - which it should....and IMO, I believe its coming at some point...
jtf
RDG, I absolutely agree w you that the billboards, VNR and other advertising was not only "weird" but ineffective and will probably run its course then end. However, they still need to get the word out and will probably do so w another PR firm. I haven't heard much regarding new / different PR strategy...right now, it appears WUCC is handling in house. We will just have to accept the fact that it is happening and that any shares used in connection w this strategy will end up in the float now or sometime in the future
jtf
RDG, it hasn't been reported anywhere (yet)...its just my opinion but also based on logic and reaction from company. Just call them and ask what they think of WB? Also, latest pr's are direct from WUCC. IMO, they will hire another PR firm at some point to "spread" the word...
jtf
IMO, he will have to relinquish many of those shares due to non-performance.
jtf
FWIW, more info on management @ WUCC. Some of you have asked and others might have seen this already.
Management
Mark Dotson was the President and CEO of Western Utah Copper Company. Mr. Dotson has extensive experience in geology and open pit mining with a master’s degree
in geology and a minor in business administration. Mr. Dotson has been a design build contractor instrumental in completing several $25 million dollar projects. He is familiar with all of the prospecting, drilling, and mining projects that have been going on for years near Milford, Utah, and is the person most responsible for gathering all of the various mining properties in the District into one 75 square mile property Mr. Dotson has been elected to political office three times (both city and state positions), and was twice nominated to serve as Western Director Of Minerals for BLM. Both positions were declined because of time constraints.
David Jensen comes to the Company from one of the world’s largest copper mines. He has held positions of responsibility at copper mines operated by Kennecott Copper,
Magma Copper and BHP. Jensen brings over 30 years of experience at operating flotation mills to the CPRK team. He holds a Master’s degree in Metallurgical and Chemical Processing.
Mr. McGinley has over 30 years of technical and practical experience in many varied geomechanical environments and mining methods, and has a Bachelor of Science degree
in Mining Engineering from the University of Utah. He has kept his education current with courses in Rock Mechanics and Blasting. His abilities encompass underground
and surface fragmentation engineering work; management of producing operations, including supervision of miners; budgetary preparation and production levels; safety programs, mining regulations and reports; implementation and modification
of mining preparation, feasibility and production methods, short and long range mine planning as well as cost and profitability projections.
Serguei Azarov was educated at Vorlcutinskey Mining College and the University of St. Petersburg
in Russia. Mr. Azarov holds a 5 year degree in mining engineering and a four year degree in mine management. He managed some of the largest mining operations in Russia and was directly responsible for over 3,000 employees. Mr. Azarov has experience in every aspect of mining, including both surface and underground mines.
Mr. Hartshorn has a Masters degree in Geology and additional training in mining engineering. He has successfully designed and mined three large open pit gold mines for Jumbo Mining Company in Utah and Nevada, and has over 28 years experience. Mr. Hartshorn has extensive experience in every aspect of large mining operations, from raw exploration to full metal recovery.
Mr. Leigh, a CPA, graduated from the University of the Pacific McGeorge School of Law with a Juris Doctorate in law, as well as a Bachelor of Science degree with honors in accounting from Southern Utah University. Mr. Leigh has been instrumental in the development of several large projects in the Cedar City area and has broad experience ranging from general law to heavy industry and mining.
jtf
I know the company is in the process of gathering this data and will release it. They really need to get their hands around all the elements of the merger, the float etc just being one of them. FWIW, WB is out and I'm sure the company tried to recoup alot of those shares (imo).
jtf
Here is the link to an excellent article by Ellsworth Dickson on "Evaluating Mining Stocks" from Resource World Magazine.
www.resourceworld-digital.com/resourceworld/2007summer/
Highlights:
1. Mine should have a completed favorable feasibility study
2. Best place to look for a mine is near a successful one
3. Four categories of mining companies: a) grassroots seeking ore deposit; b) company that has found ore deposit and are defining size and grade; c) company that have defined deposits and are preparing feasibility study to determine economic viability and d) company actually producing mineral commodity (IMO WUCC is between c and d; favorable feasibility study has been completed by Hatch Engineering)
4. Three valuation models: a) in situ (in the ground) deposits; roughly take 5%-10% of total ore deposits as ballpark value of company; b) P/E ratio based on proforma of estimated profits (divide net profit by o/s, muliplied by a resonable p/e factor) and c) financial calculation of either cash flow, net present value-NPV and/or internal rate of return-IRR (WUCC does not have cash flow currently so I've personally only estimated value based on first 2 models which is $1+)
5. Trends and Timing is everything
Hope this helps
jtf
Happy Mom Day!! And go Jazz!! (I think they have their hands full w Kobe!!)
Correct...didn't pre-merger CPRK have property @ Drum Mountain? Joy property doesn't rign a bell w me...I heard CPRK property valued around $1-$2b in unmined value...anyone help me w this?
jtf
Merger gave WUCC shareholders approx 16:1 CPRK shrs (might increase slightly); thus the massive increase in o/s. My basis goes from $2 to .125 due to reverse merger; I have since purchased many more shares at lower prices in restricted stock purchases and open market purchases to reduce my basis. Here are the company numbers:
Pre-merger
WUCC 94,000,000 @ $2.00 = $188m
CPRK 300,000,000+ @ .10 = $ 30m
Post-merger
WUCC 1,504,000,000 @ .06 = $ 90m+
CPRK 325,000,000 @ .06 = $ 19m+
Total 1,804,000,000 @ .06 = $109m+
(Approx)
Interesting that the merged market value of combined companies is less than companies separated...should be the opposite imo. Hope this helps...
jtf
Congrats on your .006 price; my ave is around .04 (give or take); I really believe we have a winner here as long as WUCC can execute biz plan (and get lt financing)...btw I wouldn't know a thing about pigs or even how to feed em!!! Maybe someday we can meet and you can show me how....(I'm a country club kinda a guy, sorry!)
jtf
RDG, point well taken. BTW, my understanding is the company is in the process of getting together many of the things you are asking for. The feeling I get from WUCC is they want to be responsible/proactive with releasing information and be forthright w shareholders; remember this pink public stuff is all new to WUCC...
Also, I would suggest anyone who wants additional info or want questions answered simply do what I'm doing and that is w agressive dd by calling and asking....very simple formula; either they give it or they don't; you're no worse off. Case in point, yesterday I posted that I "thought" they had an option on silver mine near Frisco and would try to verify. I contacted the company and they indicated they did indeed have an option. Hope this helps.
jtf
Final pic; WUCC fuel dump...they indicated they consume $2-$4k per day!!! Ouch.... I imagine the heavy trucks / tractors don't get great MPG or rather GPM!
Eye, imo I don't think the price will move up substantially (.20 and or even back up to .40 level) in the next few months until production etc. However, favorably announcements regarding financing would help it to the .10-.20 range (hey, still a nice move but profit takers will come in and suppress it and I think you'll see fluctuations in a range until mill is up....production is key)
BTW, the true, natural color of copper is the bright orange you see in new pennies. The "green" copper (roofs, in rock etc) is oxidized and actually is a bit harder to process. Sulphides are easier and has not been exposed to oxygen (deeper in ground). Story: A friend of mine went to the mine last year and was next to the drill as it was searching for copper. He said that all of the sudden, bright pieces of material that looked like little pennies came gushing up out of the hole in the water....everyone there started to smile!!! I would agree that for those who can and obviously are long CPRK, might consider adding a few shares at these levels (i am)...imo current price of .055 is well under the true value of the stock even at a "rock" :) bottom minimum (i have it estimated at approx .25-.30 low (firesale); $1+ high-2009, 2010)
jtf
This is a powerpoint slide from WUCC...again just FYI. Black outline is WUCC property...look carefully at darker areas in photo. Those are hills, mtns that have many "old" mines (WUCC believes incredible reserves) that we will go after. The green is the area currently being mined and with "proven" reserves. Obviously, the yellow is Kennecott area overlaid on photo. BTW, google Frisco, UT. Ghost town that was one of the largest silver mines in the world just before the turn of the century. Total mine collapse reportedly blew out windows in Milford approx 6 miles away. They never went back in...very close to our property (I think WUCC as option on property, but not sure; I'll verify). BTW, I remember reading a post that said our mine was out in the middle of nowhere...not true...rail is in Milford 5-20 miles from WUCC property and I-15 is 30 miles from milford and Kennecott (smelter) approx 225 miles north....jtf
Here's some more "stuff"...more interesting than anything else. This pic is a satelite pic of "proven and inferred" property currently mining (less than 5000 acres). My understanding is they have been very diciplined w NI 43-101 standards. "proven" is term whereby test holes are drilled on 50' centers and gives confidence factor in the 90% range; they have "proven" hundreds of million lbs of copper alone; other metals would naturally be there. "inferred" is done at 200' centers; confidence is high but percentage drops. Hope this is informative... jtf
Wow, blew through my 15 alloted daily posts w all those pics. Anyway, I'll post a couple more things tomorrow. In the meantime, here is a link to some interesting dd info regarding UT and minerals. CPRK/WUCC are listed(minor mention)in report; still compelling info on Utah and its mining industry / rankings etc. Mr. Dunlop indicated that western utah is "packed" with minerals/metals due to massive volcanic activity in that area. Here's a news flash...if a start up / jr mining company is to succeed; Utah's not a bad place to hang...
http://geology.utah.gov/utahgeo/rockmineral/activity/min2007.pdf
jtf
another...
I know I said last picture, but I figured out a way to post a picture of a document (IHUB doesn't accept pdf). This is a copy of 2005 appraisal on less than 5000 acres (116 pgs; I'll post 4 important ones). I have personally spoken to Joe Dunlop (not a stockholder, nor knew of the CPRK merger). I would encougage anyone who doubts his qualifications or appraisal or just want an informative discussion on WUCC property should call him....very compelling. Here's #1 page
Yes with one slight correction (as I know it), LT debt option has rate thats high, structured over 2+ years with the plan to re-finance to lower rate when due, which by then, any bank etc would finance at rates much lower considering rev / profits.
btw, you're right on with your prior post...
jtf...more to come
I would suggest getting an officer to help you....
jtf
Here's what I've heard (take that for what its worth); they are still talking to both parties and I get the feeling they will do a combination of both if they can. Equity option (little/no dilution) is close; debt option is close but terms are tough. If equity option funds, the debt option will change for the better. They would use equity monies to finish plant; pay off ST bridge loans, pay outstanding bills and my understanding is its close to getting production started. If that happens the debt option is less risky and the terms would improve. More info (not fact); they have other interested parties in project (1 was overseas); but want to consentrate on what's on the table right now.
Hope that helps
jtf
Final one today...pic of assay lab. Regarding lab and tests; heres what I found out and what I was told by WUCC. They have conducted their tests with high dicipline and with outside, independent verification. Everyone do some dd on NI 43-101; in summary a 2005 Canadian Rule for acceptance of standards of disclosure for mineral projects (I believe generally accepted worldwide now) BTW, the industry ave copper content is around .6%; WUCC assay tests are (on ave) 1.8%....some areas lower but many areas even higher than 1.8%.
Ok, need to do some work and make some $$. BTW, RDG i tried to get WUCC logos etc for "evidence"; and big thanks to Ally who provided instructions on how to post pics. I tried to upload an appraisal doc but it didn't work....I'll try another way....
Sorry, I don't have that information. I just know overall they are still working furiously at the mill (approx 20 people there, welding, grinding, etc etc) and they need $5-$10m to finish (LT financing will provide that if they get it...could be within 2 weeks) and they know they need to start the mill up. I think it will be August 2008
jtf
Pic of WUCC offices in Milford (about 4 miles from mill) I spent 2 hours inside interviewing people. Nice offices...
Picture of Magnotite Regrind Mill (looks like jet engine). I was told this could potentially increase rev by $10m- $15m a year.
JTF standing by mill. Its quite large...but smaller relative to ave mills. They wanted to start smaller and add on or perhaps construct other mills closer to mines
Here's another one. Picture of the mill (not new) the reason I want to show this pic is to give everyone a sense of the size. The next pic I'll post was me standing next to plant for comparison.
Ok, I'll give this a try w one. I don't want to replicate pics that are found either on this site or CPRK site so I'll post new/interesting ones. This first one is pic is the VAT Leaching system. Its approx 3 stories high; very impressive. Air is forced in the bottom at just the right rate to create bubbles that float to the top where they're scooped off as concentrate and shipped to Kennecott etc (i was told the bubbles have to be exactly the right size otherwise the metals won't adhere and float up)
jtf