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Well if you want to pontificate philosophical semantics with me, I would happily do that all day...
But we're talking about CPRK here. And whether people's past or future thoughts are right or wrong about CPRK, we're all here now.
People thought when Cam started putting out his own note-PR's we were saved.
People thought when we had new MGMT we were saved.
People think wrong.
Let's stop thinking, and start asserting provable fact.
It was a lotto ticket before!
Today's the day it came up a loser.
Really, after all this, and the fake optimism, etc, how can anyone expect these people to come through?
I wouldn't trust them to hold my hand on my way to the bathroom in the night at this point! Why on earth would I give them another dollar?!
I admire your optimism, but you're way off track here, imo...
On what grounds?
Just 'cause you owe 70m doesn't mean you get to just arbitrarily hand out haircuts to the top bondholders, creditors, etc.
Until that debt is fully taken care of, you better drop your pipe-dream of having shareholder liquidity magically restored.
I will follow you anywhere ... spot on and piffle free man.
In restructuring, they have a lot of people to pay off before shareholders.
To be exact, about 70m worth of it.
Once they get past that ... we can talk about "what'll be left for us."
Good luck.
Dilution is not the answer.
Wash, rinse, repeat.
Dilution. Is not. The answer.
Record dilution couldn't even continue to finance this beleaguered financial whale's operations, now even on it's deathbed.
People thought .0015's were good investment YESTERDAY! ......
Only a little.
What's 6Flags operating revenues on a monthly basis compared to corporate debt?
Ratio a looooot slimmer than CPRK revenue/debt....
.0004 ... not like we're that far away. Bring it on.
And BK it is! So much for those who naysayed it 'til the day we all saw our portfolios plummet another 50+%!
I wonder where this leaves new management as far as accountability. And I wonder what promises they'll be making on this conference call, and just how little time it'll take for them to break those comittments too
This is a sad day.
Well according to them the mill was producing saleable concentrate .......
Until it broke.
Here here, you're my kind of investor!
It's really too bad, because I don't see the locals lighting a fire under MGMT's ass doing anything more than the millions of dollars worth of unpaid creditors have already tried.
Sad fact here is, once you hand over your money, you get what you paid for. And it looks like investors here didn't quite get what they paid for. But that's called getting stuck holding the bag, and that is unquestionably what is happening here.
THANK YOU. Spot on... if I don't say so myself. :P
Sure, hope is great!
I hope CPRK goes back some day to where I bought it at.
Too bad. You can wish in one hand and make waste in another, see which builds up faster.
Hopes and dreams are not the makers of success; nor any such indicator.
Counting on the prices of these metals going up to come to parity with economic feasibility is to say the least, irresponsible, as a company game plan.
I sure hope we can break back in to the .002 area. If we can't, this is going to get ugly fast.
That's why I'm guessing volume picked up with that move -- there were a tremendous number of people selling in to the exhaustion wave.
If this low range pattern of distribution continues, like Obz said, I don't like thinking of where this may head and just sit ... until something happens.
So we've begun the slow bleed....
I took out 1/3 of my position above .002 incase this happened. Maybe I sit on the rest .. maybe I get out before this sinks itself to the bottom of the barrel.
Either way .... not very impressing.
So what did this morning's report from the new MGMT have in terms of impacting your opinion on their economic feasability?
Again, faced with the direct issue of leaving shareholders out of material info.
Cam's email was nothing new. Hell, weeks ago we had that pr stating they were "Moving towards regulatory compliance".
I'm sick of forward looking, "We're working on fixing it" PR's with no info.
As I said on the soapbox yesterday, the information critical to shareholders which I believe is being left out, is everything we need to judge the integrity of our investment.
And cash money revenue, recovering our one possible income stream.
This is truly short sighted given the challenges being faced at this mill. It is not nearly so easy as flipping a switch, or such a binary thing as "the mill starting".
While Obama's charts and predictions bear no causal affect on the stock and it's share price, one might heed his words.
Had I sold in the .005>above range, I'd be much further ahead at this point, either higher share holding or more cash.
Today's action wasn't very promising either, though I admit one day doesn't mean everything, it is another critical level of support we stand at the brink of losing.
I myself regrettably needed some funds, and was forced to sell 1/3 of my position [Tuesday].
Who knows, maybe in the future if it goes BK I can look back at it as positive. Right now, I just can't see it recovering nearly what it's lost in the short term, which is when I need the funds ... so ... hopefully they serve an equal cause.
I am not so much worried, although bothersome as it is, about more dilution. I'm more worried about ensuring some reliable income streams from the efforts of all the dilution so far, so that we can begin looking at feasibly paying back our long term debts, and satisfying said creditors.
More dilution is a necessary evil people may argue against.
The latter, is an nonnegotiable necessity.
The two aren't really comparable in terms of economic priority, I think.
All that said ...
There's not a lot left to dilute. Already being at .0020 ... we can only go down so much more. And having hit .0015 earlier this year, we've come pretty close to outright flat lining on dilution and negative price action.
So management needs to realistically look at how to spend our last few dollars, and what little more it could issue, and recover this company's only revenue generating income stream.
And if that doesn't happen in the next few months, we're probably looking at a haircut of some kind or another.
Its equally as positive as I always have been about shares in this area (to the tune that I can be, given I'm partly in above .01, and regrettably, .02.) that said, this is all super-caveat that shareholders, bondholders creditors etc maintain full integrity. Which given some of the main loans so far are currently in default, and revenues are being challenged by difficulty at the mill, is not by any means for certain at this point.
It's a "can they do it" play.
Some play out like Vstnq.
Some play out like Learq.
Question is, will our cprk shares be worth money...
And be uplisted to a higher index?
Or...
Turn into cprkq
And be worth nothing
I'm just worried that dilution will work against us. Forever punishing the people supplying you with assets is not a great way to attract future assets.
That said, again, the only way to stop this is to supply another way to fund operations, AKA .... start making cash money revenue from the mill. Soon.
People have gotten shares there earlier this year near that price; obviously if MGMT can sustain shareholder and bondholder integrity (No restructures, haircuts, defaults ... bk ...etc) than anyone in this area is going to make money -- most definitely those .001x shareholders.
That said, given the complicated difficulties facing the facility and progress forward, I consider every day the possibilities for how management will continue to finance operations.
I (and we) would obviously love to be privy to the negotiations and ongoing dealmaking regarding LTF, and what kind of shape the company is in with it's long term creditors.
The company is clearly facing some big challenges.
I hope they get the mill running, and sort these problems out. Because we're all down the economic sinkhole if it doesn't start reliably producing valuable product. And it's evident so far that the one thing that will stop the gushing bloodletting of dilution, is to actually PRODUCE cash money revenues to begin funding operations.
Whether or not we can achieve this before we all are forced to take a partial, or full haircut, I don't know. Certainly, today's price action was not positive. I look forward to more ongoing progress from the new faces in MGMT. I hope they can continue these steps straying away from the funding ways of old MGMT, and still keep our heads above water.
Another end of day dumping inbound! Yay
I've been telling family, if you want a huge safe hedge against the market right now, just take SKF, faz!!! well done.
Google mclaren report, free cnbc april report latest one ... 90 day cycle coming to an end soon. :)
Evidently, they have not done so in an economically positive fashion.
Not to mention, misrepresent and underinform us countless times along the way.
Sound like something you want to foot the bill for, as an investor?
1 billion in assets is different than 1 billion in the bank.
If it costs 2 billion to get your 1 billion out of the ground ....
You wont make a lot of money doing it. And neither will your investors.
How about the over 70m in total debt?
Not to mention the monthly income BARELY MEETS PARITY WITH OPERATING COSTS?
And of that 70m how much was in default, or was a cart-en-blanche termed loan?
To say that I'm still very bothered, would be an understatement at this point.
Nothing like selling your own company!
http://www.gurufocus.com/news.php?id=90199
I believe still, even with the "more than prior MGMT" PR -- that material info is not being disclosed that ought to be, or in the timely order it's supposed to.
I wouldn't know why. Perhaps there's something he has to say that's actually valid.
Given there's official docs with questions surrounding something similar to what he proposed... I'd start opening my eyes and ears and shutting off my ignore buttons.
You can always discard information you decide is false. What you don't become exposed to, you cannot judge. Ignorance is not beneficial!
It goes to show that the biggest issues at hand towards making progress are, as usual, being understated and shareholders are being under-informed.
Nothing I'd expect to shock anyone here, though. I daresay we've become quite used to it. Complacency is the new normal!
I think Obamanomicz mentioned contamination of some sort ... !
"Working Towards Compliance"
48 hours, my ass. ....
STOP SIGN
How are all those .004 cheapies? I'm really bothered with the constant off the cuff, changing by day sentiment from some members on the board here. One day we can focus on large, long term issues, and the next, people are talking as if some of those prior discussed things are non existent. (At least to their apparent sentiment, or opinions. Or lack of anti-sentiment about such recent info.)
I have a feeling a lack of progress at the mill, given the recent shutdowns, and lack of news to follow up on what's going on, and the next few readings of the A/S are going to paint a more realistic picture of where we are.
It's been what, three weeks? What happened to securing what was "The most important achievement to moving forward as a compliant operating business." ?
Well, just as usual, they're NOT TELLING US.
I'm sick of feeling like a mushroom, being pushed around in the dark by the ghosts whispering in mine and everyone elses' ears.