... it's a big blue watery road ...
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The original sentence goes:
Panamerican Minerals Ventures, dueña de la mina Guadalupe, que en el pasado reciente explotó el consorcio mexicano CEMEX- tiene en Eréndira al menos 250 hectáreas y espera una producción mensual de 70 mil toneladas métricas de hierro, mismas que exportará a China por el puerto de Ensenada.
I think there is a period missing after "mil" which, I think, is a shortened word for a thousand in Spanish. That is why Google translator ommitted it. Here is another translation (with the period) from http://translation.babylon.com/spanish/
... and expected a monthly production of 70 thousand metric tons of iron, which exported to China by the port of Ensenada.
The article is talking about CWRN exporting 70,000 DMT monthly.
Why haven't the big boys come to Mexico to tap the riches?
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So we went in Erendira revealed Garzon, where we now have two large foreign companies with mining concessions to extract iron (iron)."
These are the companies Panamerican Minerals Ventures, S. A. C. V., also a subsidiary of U.S. Cotton & Western Mining, Incorporation, and IRK Group International, a subsidiary of the Indian power generating giant Atlas Power India Private Limited.
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It seems like they did come, surebob, and CWRN is playing shoulder to shoulder with those big boys.
U.S. stock markets are open on Columbus Day.
Yes. The fact that this is a real company was clear to me quite some time ago. The question now is how fast they can pull off the first shipment.
I don't have time to look at it right now, but I think this could have been the limit with the exploration permit, for the purposes of specification shipments, etc. It would be unreasonable to assume that this is the actual production limit.
Good find! Thanks!
Such set of question is always asked before embarking on any endeavor. And any businessman would research and answer these question before committing to any project.
Do you think people who gave Bob money to buy all that heavy equipment on site would not ask for a viable business plan? And do you think if that business plan contained something to the tune of "sell shares" or "ship dirt" they would still trust him with their money? He must have had a well-planned, economically viable blueprint of operations to come that even people working in finance industry would trust, there is no way around it.
What about the steel mill that executed the contract to buy 105K of iron ore from him? Do you think they had performed at least some sort of DD as well? Particularly in regard to the quality of the product? I think that "specification shipment" mentioned by someone who emailed him some time ago, was exactly that.
Overall, it is not even about trusting Bob's word anymore. It is also about relying on all parties now tied up in the project. Even if someone on this board takes Bob's word for what is going on, I doubt that financing parties, steel mills, etc. would.
I'm sort of upset about that weak upward pressure today too. I was going to wait for 0.0002's to load up, but it seems that it might not be happening after all.
So, to sum it up, Bob has to come up with 10 trucks and some guys to drive those slower than 40 mph. So much for being the main issue as of late.
All I said that is Oct. 25 is not the date to be focused on.
I don't understand how so many people derived "cut-off date" from "target date." The shipment will happen around Oct. 25 depending on the circumstances. You are right, even at 1200mt a day, it would still take 30 days to haul a 35,000mt shipment load. But even if hauling has not started yet, and starts only on, let's say, Monday, it should be all done by Nov. 11... two weeks past the target date. A reasonable delay for the sort of circumstances daily encountered in Mexico.
I think this kind of logic is exactly why the BOD meeting date was set on Nov. 20, and not Oct. 26... If you want to be fair, refocus your attention to Nov 20, if the shipment is not out by then, then I was wrong all along.
I think this will continue until the shipment. I am not in a hurry though. Like you said, logic is on our side. Their side is supported by amusing messages that start with "ATTENTION" or "MUST READ - SCAM", etc. I really am using this opportunity to accumulate more. Mark my words, when shipment is out, Riso will be gone and we will see some very nice upward movement supported by the actual market forces as well as by the guys who are accumulating all these shares right now. Very shortly, they will be on our side.
Let's do some simple math.
Assume each truck is making 3 trips in 16 hours = 4 hours/trip.
I would expect loading time to take 40 minutes tops, with another 20 minutes to just dump it out on the other side. So minus an hour for lading/unloading, we have 3 hours left of pure driving.
Trip to the port and back is around 120 miles roundway, so 120 miles /3 hours = 40mph.
It think 40 miles per hour on an empty, as you yourself stated, even if a little bumpy road, is very doable.
As to federal authorities stopping trucks with iron ore, well that is a pure speculation, not to be used as a valid argument.
So if they are planning on hauling 1200mt a day, that is doable with only 10 trucks. Someone was saying there simply aren't so many trucks in Baja.
Hey, how exactly do you pronounce the word "biggggggg"? Looks very intimidating. Maybe I should sell after all :)
No buyback is a possibility. Dilution is a possibility. I weighed my risks vs. potential reward here. I am buying more.
Thanks, man. I'll be careful. Maybe, just maybe, if I listen to you diligently enough, I might even escape that horrible horrible fate you are pontificating here.
Oh well, they will have to stop once the buyback starts. There will be no choice. Right now is their time to bring this down, and that is what is being done. I am not in a hurry though. This is a great opportunity to get dirt cheap shares.
Dilution here is not a fact, it's a speculation.
I think we might see a day or two of them reconsolidating for another wave. Then another downward push. I got some more funds cleared too, waiting for 4s or even 3s.
Eventually, I will. You bet.
15M would do very little considering today's volume. Especially the 15M that never existed to begin with...
It looks like today might have been the grand finale...one last push. With the way it closed, and the fact that bigfoot suddenly disappeared, we might see some upward movement tomorrow.
It would be nice of the company to issue a little PR with its position on the recent trading activity. Maybe ungag the T/A while at it to prove so many on this board wrong.
All this commotion has moved us up to number 13 on the list of break-out boards... Unfortunately, our break-out is heading in the wrong direction at the moment :)
Exactly. If the company is selling shares it is usually a pretty straight-forward process. They put in a limit sell order, and it is selling. There is nothing fishy about it.
We have seen all kinds of strange things happening during the recent trading days, some of them I mentioned in my previous posts. Fluctuating volume is just another thing that can only be caused by MMs playing their tricks.
So, more than 120M shares traded today, and we close at the same price. This stock is unique.
70 million shares sold today is only $28K. It is amazing how much market distress one might cause exchanging that mere 28K in the open market.
Well, one thing should be clear. This is not pump-and-dump....There is simply no pump, just pure dump :)
Don't stress out about the price. We might even see 0.0002 before it gets better. They have the whole month to do it and, indeed, nothing to support the price at this moment.
So I will let MMs do all the work, and reap the benefits of such low entry point to average down.
The good thing is that whoever is accumulated so aggressively, will then be pushing the price up just as fast, that's the whole point.
So, relax, it seems like we are in good hands here.
Just like bigfoot predicted, another staged sell off today. Just shows that the guy is in the know.
Ok, 10 days for crushing, what about hauling all of it to the port?
How many companies post copies of their confidential, government-issued documents online? They get those and get to work, exactly what cwrn has done.
It's in the news letter as an approximate target date. Riso is making it look as if it was a contractual obligation issued by the company just to draw on it later. Cheap shot.
What facts?
Slow dilution, are you sure?
Hey, Riso, 10/25 means NOTHING.
Big investors often do not wish to be revealed to avoid being harrassed by the shareholders of the company or for other obvious reasons.
Micro agrees with logical, well-articulated posts as opposed to those who just repeat the same thing over and over again.
I was not aware of this. Thanks. This aside, there are still many more suspicious points about recent trading activity.
This is exactly what I meant by "not a dilution pattern."
Good point. CWRN has major investors in terms of direct project financing, and major investors in terms of shares owned. Any other assumptions?