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Good work, Jimmy.
That's nice to know.
Hopefully, CPRK is not at financial risk for breaching the agreement with the Argentinian geothermal venture partner that is outlined in the January 2009 PR.
When it comes to the Argentina venture, I only know what the company said in its PR, and what some posters said in response to me at the time.
When I inquired to posters about the Argentina project earlier this year, I remember getting a response from those who have good access to folks in the company and in the know.
Their response to me was that things like the Argentina agreement sometimes aren't quite what they seem.
I don't know if that means the Argentina project isn't as risky as it appears or if it isn't as big of a deal in terms of disposal of cash as it sounded to me.
(I have always thought it was the worst idea and made public or entered into at the worst possible time. Imagine that as we await word on creditors and LTF this coming January that CPRK instead engages in and makes public another agreement similar to this for, say, a solar energy project in Bolivia, instead of focusing on getting the lenders squared away and the financial house in better order.)
Perhaps others can help us out here with your question, unless, or course, we get financial statements from CPRK in the mean time.
Say it with me: Tuzgle-Tocomar and Valle del Cura
Perhaps the reason for the decreased pps, some of the dilution and seeming manipulation is that CPRK may be making good on a agreement entered into earlier this year to finance the Valle del Cura and Tuzgle-Tocomar advanced geothermal projects in the Andes Region of Argentina.
CPRK is to acquire a 50% interest in the projects, probably by arranging funding from the cash flow from its mill operations.
The agreement entered into was done prior to "the pre-feasibility stage" so who knows if the agreed-to project has panned out as even economically feasible.
CPRK's funding is supposed to help "substantially move the projects through the feasibility stage."
According to MD, participating in these pre-feasibility stage projects in remote Latin America should "build value from our cash flow" and "presents a great opportunity to further build shareholder value."
This agreement came to light back in January when a great many of us were expecting word on completion of the mill and immediate cash flows. The expert CPRK staff, including ones who never got so low as an A- in college, did not breath a word to the public about the feasibility of cash flows in January 2009, at the time this came to light.
Perhaps that agreement explains some of the pps and "manipulation" that some believe is occurring.
GLTA
T
eye, you make some good points. We have a lot of areas of agreement.
I'd like to point out that a cash flow statement (together with other statements) would show where cash from diluted shares would come into play.
One more thing... are you saying that notwithstanding the fact that CPRK has issued a PR talking about pursuing a formal exchange listing, MD really has no intention of realizing it?
eye, since you are not an obvious pump-and-dump guy, I will reply.
"The company expects the Flotation Mill to be fully online and the flow sheet perfected by January 2009, with positive cash flow following. The company expects to be in a position to pay its first dividends by June 2009." - Oct. 14, 2008
" Cash flow from production operations are expected as early as January..." - Dec. 3, 2008
"In addition to the payoff of existing debt with more favorable permanent financing, the Company will also consider pursuing open market buy-backs and retirement of outstanding stock in order to provide a tighter capital structure. The Company anticipates that the increasing cash flow, stronger balance sheet and tighter capital structure will engender a more stable trading market for its securities and also allow the Company to pursue a formal exchange listing." - Dec. 3, 2008
Where in the PRs does it say that "MD has stated he wants to be a Pinkie" or "king of the Pinks"?
I recognize CPRK's achievements.
You say, "Income Statements are only good when they show Income, especially more Income than Expenses."
I'd like readers of this board to know that a negative income statement is valuable information, especially to shareholders. Also, a "good" income sheet is an accurate portrayal of income, regardless of whether it is positive or negative.
A "good" balance sheet would reflect the amount of liabilities and assets. I believe it would be interesting to shareholders to know how CPRK allocates value of mineral reserves on their balance sheets as well as how much debt the company bears.
It would be OK with me for CPRK to list what they know about mineral reserves in the notes to their statements. That is a way that this value could "possibly reflect true Equity" for the extensive potential value of future mineral resources. However, it they simply want to leave that off, I believe the financial statement would still be important and interesting to investors.
Any LTF deal may very well replace current financial liability on the current statements that we currenlty aren't privy to.
Anyone considering financing us will be very interested in the amount of current liability that occurred as a result of cash flow and (negative) income. They will want an accurate financial picture of CPRK, including how past financial decisions got CPRK to its current scenario. I think that qualfies as a potential LTF entity "dwelling" on CPRK's past.
If as you say "no one knows if we have made anything yet from our magnetite" that is alarming. The financial/accounting folks at CPRK better know that stuff or we are dreaming if we think CPRK can also get LTF without that level of accounting. If you are referring to shareholders, then I agree, we "just don't know."
You seem civil to me. I hope I come across as civil to you.
With you, I also respect others' points of view.
Thanks for your perspective.
T
You're right.
We are no more transparent now than we were a year and a half ago when I first bought.
Now look at the PRs and statements attributed to company officials about improving the exchange listing and let me know what you think. Then read the previous paragraph again. That is why I believe it is a good thing to have someone "translate" PRs from this company, especially to recent or potential investors so that it can become part of their DD.
Do the same thing for the financing side of the comapny.
You are correct. We are miles ahead than we were a year and a half ago. Now compare that to the expected schedules that have been stated in CPRK's PRs and by company officials. Again, it is clear that some "translating" about what is said and what can be expected would be helpful to new investors or to those considering investing in CPRK.
You are right on. The mill is complete and producing copper concentrate. We have a buyer for our product and Revenues are only now beginning to flow. Please compare this to PR statements that suggested the schedule for this.
Your amazement that financial statements are demanded is curious to me. A balance sheet, income statement and cash flow sheet would be very good tools for current and potential investors.
I believe the company could produce unaudited financials or give out some of the data from those sheets, but they choose not to. Compare that to their PRs and statements where they seem to imply they want to be transparent or improve the exchange they are on.
Financial statements without revenues are helpful tools as are financial statements with revenues. The same can be said for debt, interest, land, buildings, accounts receivable, accounts payable, and the trends of the statements. Please note there was "revenue" or a loan from the magnetite.
(Aren't you glad I don't accuse you of being negative about CPRK when there actually was accrued monies from production and delivery of magnetite while you stated there was no revenue? HeHeHe.)
With you, I also believe this company is undervalued. I don't believe there is that much manipulation going on, especially outside of those who ended up with "free" created or diluted shares.
I see the positives about CPRK you mention.
At some point I believe the Golden Rule needs to have a place on these boards. So my realism mixed in with others' posts about moon shots for the pps should be all taken in by those looking at CPRK.
You are right about LTF. It would also solve a lot of problems, but since the financials aren't available, we don't know how many or how much.
I'm long on CPRK, not short. I have nothing to cover.
It's OK with me if you can't see where my posts are right or real. You don't owe me anything for agreeing so much with you.
Enjoy your weekend.
T
Jimmy, I happen to believe that CPRK and its investors have the best chances for success when they are realistic and open.
I'm long on CPRK. I'd really like to see it do well. I've been a shareholder for more than 18 months. What you might read as my being negative and pessimistic is simply my attempts to inject some realism to the dialog. At the same time, I enjoy satire, irony, etc.
I get after baseless bashers right along with pie-in-the-sky posters as well as CPRK PRs that I believe are filled with hyperbole. I do that because I believe those kinds of things aren't helpful to shareholders or potential shareholders.
When you go to a sporting event, you may notice those who are die-hard fans, that yell at the refs whenever the calls go against their team, that don't have anything good to say about their team's opponents. They may get that way simply out of team spirit or maybe because they also have a bet on the outcome of the game.
I've bet a lot on CPRK's success. Unlike some others, I'm also interested in them playing well and learning from their mistakes. I also hope that I can still be able to see things as they are and to call them as I see them.
So if all other longs are A-OK with each and every PR that CPRK has issued, with all of their decisions, with having nearly zero transparency as far as operational parameters and financial statements, great!, that is their preference.
I'm not them.
T
For the recently arrived posters, please let me translate today's PR.
The chemists have come up with a process to extract more concentrate from the mill. Dotson has been convinced this will work and is so excited about it that a PR went out.
The following words have a different meaning within the city limits of Milford:
"in advance of the construction of" means "there has been a delay"
"create an immediate, additional income stream" means "once the process has been ordered, paid for, delayed, finally constructed, burned in, dialed in, weather-enhanced, grand opened, soft started, worked all the bugs out, and scheduled for delivery, and finally after a few PRs that have promised otherwise, when the broker's designated recipient gets the material or has word of a loaded truck, then the income stream will be immediate"
"at a minimal capital expenditure" means that there will be a bucketload of diluted shares that are sold at new pps lows to finance this endeavor
“a simple, reliable process" means that it will try the patience of lenders and shareholders just like the mill did
"immediately bolster the company’s bottom line" means nothing to shareholders because this "public" company does not share its bottom line with the public
"a 21st century producer” means we can hope it all occurs before January 1, 2100
"You keep using that word. I do not think it means what you think it means."
-- Inigo Montoya, from The Princess Bride
On2Them, I've tried to use your spreadsheet to calculate a PPS, but I haven't succeeded. Can you tell what kind of a pps we should theoretically be at with one truck a day and a PE ratio of 10?
If that's easy to do, then how about moving to 2 a day with a PE ratio of 20?
If this is too hard to figure, just skip it.
Thanks for your insightful posts.
Great post FFF. I like the way you think.
CPRK doesn't really think along the lines of what would be great for shareholders. So, I don't think they will be going out of their way to make things optimum for us.
I'm just hoping that they are plugging away making and shipping concentrate in a quiet way.
There are dozens of moves they could make that would be advantageous for shareholders. They've had lots of opportunities. I'm not expecting anything though.
Read the December 3, 2008 Press Release to see how much time we were "told" it would take to dial in the mill.
I guess all of the corporate officers, even those with straight A's all through school, allowed all of us shareholders to believe those PRs until it became painfully obvious.
What I'd like to know is how long it takes to "dial in" statements from CPRK. They have led us to believe some real doozies all along the way. It appears to be continuing, notwithstanding that some truth and good progress also surface in the PRs.
Thanks On2Them for correcting my figures and confirming my suspicions. I pulled the calculations together kind of fast tonight as I was being called (on time) to dinner.
GLTA
T
There's just gotta be more concentrate ready to ship than the 250 tons the truck driver saw.
If the mill ran only 1000 tons per day and kicked out the average 1.5% in concentrate, that would be 15 tons per day.
For the ~250 tons seen, produced at 15 tons per day, that's only 16 days' work.
Supposedly we're now at ~1200 tons ore milled per day (7-day), producing concentrate for the five shipments of 25 tons needed each week, ramping up to ~3,500 tons per day (7-day) to produce the fifteen 25-ton shipments of concentrate each week.
With all of the statements and PRs over recent weeks and months, I just can't imagine we only have 16 days' work of produced concentrate behind us.
It might be good for some questions about this to be asked during the upcoming radio show.
Just got a note from CM via e-mail
NOTE TO SHAREHOLDERS 9/20/2009
Hi All:
I hope everyone was pleased with the recent Press Release…It certainly has been a long time coming. Some of you have asked some questions related to some of the current postings on the message boards. While the Company does not comment on these boards, or use them to disseminate information, some of you have emailed me with questions that I can, and will answer whenever I can.
Most of the emails and calls I got over the past 3 days have had to do with the specifics underlying the PR and generally about how much, how often…
We will be using 25ton trucks. The value of a 25ton truckload is in the neighborhood of $50,000. As we stated in the prior press release, we will receive a “provisional payment” when loaded and leaving our site. The payment is 60% of the value…
I was also very pleased to have been interviewed by American Metal Market…about our Company. While the information in the article was a bit more specific than the press release, information tends to be more specific when it is in a question and answer format. I have also arranged for one of the members of our Board of Directors to be interviewed Monday afternoon.
Anyone who has not seen the article should go to the website www.AMM.com
And sign up for a trial subscription. This is a well read and very influential publication, and I believe it is about $1500 / year. If you have a problem getting this, just email me and I’ll forward a copy.
I believe that our Company has turned the corner here. While I still maintain that the soft-start will not be complete until around yearend, that does not mean that we are satisfied with current production. We will continue to increase our production of both Copper concentrate and Magnetite. As we mentioned in the PR, we intend to double production. The Hidden Treasure Mine ore is roughly 30% Magnetite. At our goal of 3375 tons/day of ore going through the mill, we would produce about 4000 tons per week. This would leave us with production well in excess of our commitment to Massey Energy.
I am keeping this note short, since I believe that we will have continued good news to discuss in the very near future. David McMullin and I intend to be on the Bill Chippass Radio show on Thursday, and we will, of course, answer as many of your questions as possible.
If you have areas of concern, please forward them to me and I will attempt to cover these issues on the show. PLEASE DO NOT THINK I DON’T TAKE YOUR CONCERNS TO HEART….But sometimes I am precluded from making anything but what some of you think is a “canned” response. This is particularly true when it comes to what the Company intends to do on specific matters like lawsuits…
Here’s to another good week…………………..
Charles
I'm glad we have this message board. Both you and I are ones who have questioned past CPRK PRs.
Where we might not be similar is that I appreciate it when this board provides information like the sticky post that shows that a ~25-ton shipment really may be in the process of being shipped to a purchaser of concentrate that has been so long awaited.
The information backs up the PR and is provided on a weekend when trading is not active. Now, if CPRK has a policy about providing this information that isn't being followed, then that may be a problem for the company to deal with internally.
But if it came from a third-party entity or if it is in line with a policy of openness of certain information, or if the company caused it to be "leaked" because of people like you and me who like to see a little more evidence backing what they say, then I still don't see a problem here, other than that there are outspeaking doubters like you and me.
Early this year my wife and I took a tour of CPRK. We took pictures and were given a nice sample of beautiful copper ore by MD. My wife sent photos to allyaustin and she helped get them posted for folks reading the board.
I think others, not just my wife, look to allyaustin as someone who can help get things out to the readers of the boards.
I know that not everything posted is original with ally.
I'm certainly one who likes to see corroberating evidence when it comes to CPRK's PR assertions.
If allyaustin is an insider, it's that she's an insider as to how the boards work and can be used for those who need help participating and learning about this company.
I simply don't see a problem here. What am I missing?
Post 34352 should be placed on the sticky list, along with 34298 and 34305. IMHO.
I don't believe CPRK is waiting until Monday to ship Cu concentrate. If they can get loaded and shipped, I think they will be on the road. That's great, and I'm all for it. They probably gave themselves some extra time in the PR.
I've taken my shots at the PRs and at statements by CPRK, but as a long, I must say that I'm glad to see CPRK making such progress.
I'm glad I have kept my eyes on the prize (my mouth and keyboard fingers, aside) and my shares increasing from time to time. At the same time, I'm not one to overlook CPRK's mistakes, missteps, misinformation, misspeaking, etc.
This is an interesting time to be a CPRK investor. The mill is built, operating, and producing Cu Con. They have a sales contract that has favorable terms, especially for a new start up and unproven enterprise. It's nice to not only see the "trees" go in one end of the mill, but now finally saleable "lumber" come out the other end, after so many days of only hearing noises and seeing mounds of "sawdust."
CPRK is far from perfect, but it's time to give them credit where credit is due. Despite their other weaknesses, it appears they are about to turn this very important corner. I'm glad I stuck it out this far. I hope to see my own green somewhere down the road.
On a side note:
It's unfortunate when posters on this board call into question the honesty of posters like allyaustin who has only provided good information and has been so helpful to folks wanting to learn about CPRK.
allaustin is always ready and willing to back up her statements while those who question her posts and otherwise call them into question don't show their own proof. When called on it, they usually only have their opinion to back them up.
Also, the idea that posting evidence of what has been PR'd days ago by the company and has had full play on "the wires" is somehow insider information is curious. If Microsoft announced the launch of Windows09 and someone showed a bill of lading of a delivery of the software to a retailer, how would that be insider information?
Great job On2Them, FFF and allyaustin. The information from you folks on this board's A team is very welcome and appreciated.
I was able to access the Shumsky article by signing up for a free, trial 7-day subscription. The Ts and Cs of the subscription prevent me from copying and posting the article here, but folks who want to read that a journalist can get decent info from CPRK can see it with their own eyes by following suit. I won't say which web site I accessed this article, but the headline of their article is: Copper King set to ship copper concentrate
I suggest that the following messages be put in the sticky list: 34298, 34304 and 34305
By my calculations, the mass ratio of copper concentrate produced to ore processed ranges from 1.33% to 1.83%, assumably from the Hidden Treasure mine.
At 39% average copper in the concentrate
If I read On2Them's spreadsheet correctly, we've now matched the current pps with his targeted pps (0.017) based on inventory value and revenues
It will really help when CPRK can triple current production.
I'm happy to see that there were no forward-looking statements in today's PR.
Some of the things about I really liked seeing finally getting some corporate confirmation and public exposure via today's PR were:
-The current size of the produced concentrate pile.
-Figures on which to base the average concentrate production rate since the announced start of concentrate production
-An explanation of the company's clear and urgent need for the recent 500M share dilution
-Facts and statistics on which to base estimates of future earnings
-Details about the current debt structure and how it will be eliminated or transferred into long-term financing
-The situation at CPRK on the legal front, filings, liens, challenges, defense positions, etc.
I've completely changed my mind about CPRK's PRs. After today my eyes are open and I want them to keep coming. But then again, why? We have all of the information we need to invest as we have been adequately informed as investors this day.
GLTA
T
You're right cork. I think we're saying the same thing. My bad.
There's no way Sempra would get themselves into a situation where they will be paying CPRK above the market rate for copper concentrate IMHO. I imagine they would make sure CPRK gets paid less than market, so they can turn around and sell the concentrate they buy from CPRK. I don't think CPRK or any other copper mill would outsmart concentrate brokers in a long-term contract. JMHO
From what I read of Sempra, they are brokers in copper, etc.
Therefore, I think CPRK went to them as an entry-level point in the market. There are other brokers, but I don't think CPRK will be getting top dollar for copper concentrate right off the bat, and I don't think CPRK necessarily drove a hard bargain. Rather, I think they got an acceptable deal done. The nice thing is that CPRK has a buyer. One day CPRK may be in position to sell con to someone closer to the consumer, but right now CPRK needs cash flow and Sempra can provide it, if CPRK can deliver the concentrate.
It's like selling gold to a pawn broker. The pawn broker will buy gold all day long at a price that they can turn around and sell it all day long. I hope someday CPRK will get into a position to sell to markets closer to the consumer. That will be a long ways down the road IMHO.
I hope we can make it another week without a PR -- even longer would be better.
We've had a few good PRs but many more that were real humdingers.
I'd rather see a the posting here of a bootleg, non-public copy of their balance sheet, an income statement, and a cash flow statement without notes than another PR. Please, CPRK, don't give us another PR very soon.
We're at a pps of less than a penny after all of the PRs up until now. I don't see how a PR will change that.
I'd rather read posts from locals like Candy B and Nathanial the Plow Boy than another PR.
If CPRK is shipping concentrate, I'd rather hear about it from folks like that.
Spare me the morsel of strained information, the gnat that gets set free, when we know there are camel-size realities that CPRK has gulped down as we walk in darkness that otherwise would deserve public airing.
Please give me instead posts that feature photos from visits and visitors and descriptions from folks who got an inside look.
Please, CPRK, don't tell me when you currently expect to pay shareholders like me a dividend, or expect cash flow to reverse course.
Rather, give me postings of links to others' reports and to developments within the industry.
Save me from any word about buyers, buying, contracts, or the potential for executed deals.
Please, CPRK, don't tease me with expected schedules, glowing statements about them, or possible financiers of long-term loans.
For me, I'd rather hear about expansions of the A/S and O/S from posters on these boards.
Please CPRK, don't spend any time or resources in trying to tell us why the changes were made in the number of shares.
Maybe, just maybe we can go this whole week without a PR.
GLTA
T
If the revenues don't support operational costs and the satisfactory payment of the existing loans by January 2010, MD will file for CPRK's bankruptcy for protection from its creditors, and the share price will tank.
If the revenues are realized and the creditors paid off, there will be no bankruptcy filed.
Until that time, MD/CPRK will hold onto information that would otherwise help investors determine which scenario is most likely.
I'm sticking with CPRK, in spite of its ridiculous lack of efforts to help shareholders (or help out its IR for that matter) make these kinds of assessments.
This company is all about jobs and power in Milford, western Beaver County, Utah. It's not about making even loyal shareholders comfortable as the clock continues to tick. It's not even about the copper. We all know we'd have different experiences if it were otherwise.
Just be glad that currently there aren't so many misleading PRs these days like there were a year ago (esp. the 12-3-08 PR). The company has some things in place and going for it. That's why we've invested in it. If management doesn't mess this situation up, in due time we can get our money back and also be rewarded for all of the mental distress when we think of how things could be or could have been.
Every day that CPRK's pps doesn't start with 0.000XXX is another day they/we have a chance to avoid the financial/legal abyss they seem to (and may) be flirting with. I consider the daily pps my own personal PR from CPRK.
January is four short months away. And we all know that the plant will pretty much shut down for the big game hunt and for the nasty winter weather, not to mention the holiday season. So there's really less time than that to work with.
If the pps really dips, I won't be averaging down any more. I'm saving some money to invest in "Son of CPRK" if we get to that point. It's not likely to go public in that scenario, but you never know. It could be purchased by FeeFiFoFum Copper or by private investors as part of the liquidation to pay off the creditors.
Make no mistake, I'm betting against all of these gloomy scenarios because I think it will all somehow work out.
Main Street in Milford is a long way from Wall Street in New York and no one knows that better than CM.
GLTA and as always this is all IMHO. Do your own research and form your own opinions.
T
Blues,
It looks like you may have addressed a concern I had with your post #32403, but it must have been deleted before I could read it. Could you send me a private message or post again with the offending information removed. I'm hoping to learn all I can here and I'm sure there was something in your post worth knowing.
Many thanks
T
Can anyone think of any reason CPRK shouldn't start posting the cumulative (absolute) total of copper ore (in tons) conveyed into the copper cycle of the mill, posted on their website along with an as-of date?
I'm not talking about CPRK publically maintaining a table or a historical log. I'm just talking about one figure that is occasionally (every week or so) updated on the CPRK website -- a number that will only go up, along with a revision date. I'm also not talking about the magnetite cycle, only the copper ore process. This company is called Copper King and not Magnetite King after all.
I think that if such a number were updated periodically online, such information would be benign enough for the company to not feel like they are opening the kimono to the world or giving away any secret formula or financial information.
Maybe this could be a good-faith baby step toward CPRK showing good will toward evenutally becoming financially compliant with more prestigious stock-exchange standards.
Most of us have money in this company and it's clear that the doomsday clock is set for January 2010. I don't believe this would be too much to ask.
I'd like to know what others think about this idea. CPRK's response to our coordinated or multiple requests would certainly tell us a lot about the company. If a bunch of us asked for something like that, CPRK could grant, refuse, or ignore our requests.
I've floated this idea by CM a few weeks ago. You can see how effective one person's inquiry was.
Any thoughts?
I heard it different...It was that MD has received many low-ball offers for him to sell the company, but that he stuck to the original plan
I haven't heard about banks knocking on CPRK's door to finance things...Anyone?
CM's note gave me an idea.
Maybe we should coordinate and send CM "a fair number of inquiries in writing and on the phone about the issue of" how much ore has been processed at the Milford mill in the last week, the past 30 days, and the last 90 days.
If we did that, maybe we would get some information from him worth reading.
Those planning to tour the mill might also ask for this information.
I think it would be news if CPRK doesn' know these figures. I see no reason why CPRK shouldn't give them out to the public.
Question for the board.
Has anyone who has toured the mill or talked to those who work there seen any recent evidence that the company is preparing to transport concentrate?
Thanks
(Please pardon my post if this has been asked and answered. I'm not able to read all of the posts but I skim through them as I can.)
Nice summary 1 thru 6. Items 7 and 8 beg the question: You're not an attorney, are you. If CPRK filed suit in hopes it could find or have produced a 'smoking gun' document during discovery then I'm not too excited about CPRK's legal beagles and their tactics. Items 1 thru 6 deserve attention. Items 7 and 8 raise concern. IMHO
Three Questions for the board.
In the past week or so, I've been on vacation, away on business, and had some computer issues on top of all that. I'd now like to catch up with some help from this board's posters.
I've read the current sticky posts and can happily say that it's great to get some realism injected into this board to help out longs like me.
I also have read the last two sets of PRs and am caught up that way. I'm most encouraged by today's PR that gave some facts and thankfully not very much forward-looking fluff at all.
Here are my questions for the folks on this board:
1 - When it is said that CPRK is milling 1-1.5k tons per day, is that based on averaging over one stellar day, one stellar shift, one stellar hour or one stellar 5-minute run and then extrapolating to a day? Hopefully, the 1-1.5k tons per day is a statement based on a one-week or longer average per day for mill performance.
2 - What have been the issues raised over the last week or so that are of import? It seems that the PRs are such that one would have expected to see a little firming of the pps, but we're still at less than half what we were after the Grand Opening.
3 - Are there some posts over the last week or so that aren't sticky right now but that are must reads for someone who is long? Please give me the post numbers for the best posts over the last week.
Thanks in advance for your help. I simply don't have the time right now to read the thousands of posts in the days that I've been mostly out of commission and I appreciate any assistance.
I've long thought that CPRK could take a quantum jump forward by hiring a management team (maybe starting by bringing in a proven plant and general operations manager, aka a COO) to run this operation and give them a little free reign to improve and change things.
That way MD and others could take on roles on the board of directors, have more family time, get away from micromanagement and learning via hard knocks. The advantages would be obvious and could solve problems inherent in family and close-knit businesses.
I soon realized that isn't going to happen, at least not any time soon, and IMHO it is costing everyone. But, I still think CPRK will somehow turn it around. I'd like them to focos on realizing earnings before they launch into underground mines and before they build and pay for the SXEW process. IMHO CPRK should pay for those with earnings and not play chicken with their lenders by betting the farm that it all will come together just in time to meet the full extent of their lenders' patience and other requirements.
Have a good weekend.
T
________________________________________________
"Me favourite colour is blue and me real first name is Richard"
- 'Ringo' Starr
FBN, does the TA keep share amounts real time or are they accurate as of the previous day? Someone is selling (I bought some more today), and I'm trying to figure out who.
As to the silver dollar kid, IMHO the best standard for this board is for folks to say what's on their minds with value gained when it is true and accurate. A libel suit is difficult to prove. Damages from libel are difficult to establish and the truth is a defense against libel.
I don't like cheap shots taken at MD. However, if someone gets after MD for something that MD has control over, I think it is fair play, although I don't think MD pays any attention to the posts here or elsewhere.
So if MD were running the company flawlessly and the only item of passing quibble were the PRs, I don't think the PRs would get mention. MD has done an admirable job getting things where they are, and there is room for improvement.
Best luck to all.
Although I'm not thrilled about today's share price erosion, a small consolation prize (and who of us doesn't need consoling, commiserating, etc.) is that folks like RTR are starting to talk more about the idea I've put out that CRPK's forward-looking PRs don't help.
Today's performance could have been due to the need to make payroll, shares coming off of restriction that are discarded by those who want to pursue the next stock with a great story, and maybe even a little bit due to the efforts of those who fancy themselves as market manipulators.
To me, although I admit I'm clueless as has been declared by ABH, it also has the kind of sell pattern (down, new lows, high volume) that suggest to me the possibility that someone may have the idea that what at one time was tentative and near-term-pending may have fallen apart or failed to materialized as had been envisioned.
So as I sit here wondering, the last thing I want is "news" from CPRK that contains forward-looking verbiage.
It doesn't take forever to get the legal beagles and the executives to review and approve a tentative agreement that is material enough to mention in a PR. After this amount of time with no word on any "done deal" or even on the actual and past tense or currently realized level of production, it certainly is the right kind of climate for pps erosion.
Instead of official PRs with forward-looking statements, especially given where we all are right now and CPRK's track record on accomplishing hoped-for PR pronouncements, I prefer the kind of news that isn't so official. So give me a report from visits, from locals, from cleverly-disguised friends of employees. Those have been more reliable than PRs. If CPRK insists on a PR, then, (with apologies to a welcome poster to this board), I'd prefer that CPRK give us just the facts.
Do you still have 0.000 shares Arnold?
JTF, thanks for providing me with that background. It makes the news about proximate success for concentrate at the targeted production levels all that more encouraging to me.
Please pardon my skepticism when folks make statements. You see I'm a shareholder who has lived through things like the 12/3/08 PR, so it's very encouraging to get some additional information about where people are coming from who make statements.
I'm still waiting for someone to tell me about any changes to visitor or access protocols at the mill. There has been talk of hush hush and visitors who have not been allowed in the mill (posted on this board).
PS - Despite all of the talk about NSS today, I'm still not convinced that they affect the share price that much. Even if 9M shares don't exchange hands like usual on a day like today.
I may have missed something... is there a new protocol for mill visits, are they restricting visits and visitors more than before? I'm not up to speed on any recent security changes. Please fill me in.
Please note that this is not a demand for an answer. I have some questions into other posters who have made statements on this board and I don't seem to be getting anything other than, well, flak.
When someone makes a statement on these boards, positive or negative, it is nice when they explain themselves.
Please note: I make no pretense as to my relative importance and I'm certainly not demanding answers, I'm just asking with a little persistence. It's interesting how some folks change brushes when they talk about shareholders with legitimate questions (demanding, self-important, bullying, undeserving of answers, picking fights) and when they talk about MD (wise, prudent, accomplished, honest, respectable, deserving of admiration...)
I suggest that folks not complain of what they believe they are wading thru on this board until they are certain that they are not among those who produce and leave similar material. Here's wishing that the board were totally free of both pro- and anti- bulloney.
(I'm glad we have a farm boy among us who can testify that steer manure is useful but that it's hormonally charged alternative is not so helpful. And, unlike city folks, he can probably tell the difference from ten yards.)
RTR, I'm ready!! While we're waiting for further explantion about some claims made on this board, I have some questions about the mill and how close we are to revenue from concentrate.
Has anyone seen any sign of activity regarding the transport of marketable concentrate from the mill?
Is there any word or indication on whether the terms of sale for copper mill product is f.o.b. Milford, Utah? Will the anxious customer for Cu concentrate come and get it or does CPRK have a role in the delivery of the product?
After running since the Grand Opening, just how many tons of ore have been introduced into the mill? If we're at 2500 tons of ore per day, running for, say, a month (since the 10th of June for example) would mean that somewhere there is 55,000 tons of material somewhere in the system at or around the mill. How many tons of ore have been put into the mill?
I'm sure a copper company like CPRK has these numbers and knows the answers. I'm not sure if I asked they would answer. I've asked questions like this of CM before, but I end up getting nowhere, so I'm asking those who may have similarly inquired with the company or happen to know this themselves.
GLTA today
If your spreadsheet is a good model, then CPRK copper tailings will have just over 0.6% copper which is right at the average copper in the ore pulled from Kennecott Copper's Bingham Canyon mine. The tailings may become a good source of ore at some point.
Here's where I get my facts: http://www.kennecott.com/?id=MjAwMDExMg==
I imagine JTF would like to answer my question himself. It's interesting that folks jump in to answer for our fact-loving friend.
JTF ?
The word is they are very, very, very close to consistant, full production starting w 2500 tons a day and ramping up very quickly.
jtf
Wow. This (excerpt above from your post today) is great news of course if it's so. Someone else on this board stepped in and answered for you, but I prefer to get your response to the question posed and also to my question now about how you know this is "the word" and what is meant by, not simply being close to desired production, but being so close to thrice emphasize just how close.
Again, I'm after facts not feelings here. Thanks in advance for your anticipated candor.
JTF - You're right. I stand corrected. The second 2B shares were indeed an expansion, not a dilution like the last ~1.5B shares which occurred over a 2-3 month period. Thank you for your patience in correcting my post.
CopperKen - As to whether the BT broker will get CPRK "the highest market value for the product" sold, I'm not sure as that usually occurs closer to the product consumer than can occur selling to a broker. If the broker does get the highest value, IMHO the broker will be pocketing the difference. Nevertheless, I see the deal with the broker as an acceptable first step in the right direction. When CPRK really grows up, they will be able to work their way up the food chain in the selling department by positioning themselves closer to the real buyers.
on2them - I'm glad that RBS Sempra appears to be a capable selling agent for CPRK thru their offtake agreement. If it meant that we're in production as envisioned, I'd be happy if CPRK sold concentrate to a pawn broker. You have raised some legitimate questions about who controls when, where and what CPRK "sells" to RBS. IMHO, RBS would not be wise to stockpile very much for very long. That's acting more like the pawn broker, but you make a good point about positioning material for emerging or recovering market values. Along with you, I hope things work out well for CPRK and its needed market exposure for revenue.
MoneyB - If you really are surprised about how some of us read CPRK's PRs, including the headlines, please take a few minutes and read through several of CPRK's previous PRs. To me, unless its confirmed, the headline says the agreement to sell goes to RBS. My research tells me RBS re-sells concentrate.
Sure, I can also go along with the idea that RBS is the BUYER, who then turns around and sells marked up concentrate from CPRK. That's how a pawn broker does it, too, as they're the ones who do the real selling. As a CPRK long, you could say I have my chin up, and my head in the clouds. I'm also trying to make sure that my feet are on the ground. I recommend grounded feet to others.
BTW - I take the word "tentative" in the PR at face value. It would have been nice to get a PR that says there's an agreement in place, but I fully expect this forward-looking statement comes true soon, especially now that a few more days have gone by.
I'm still not convinced that if the market manipulators will simply leave CPRK alone, the stock pps will quickly recover. Also, I'd like to know the details of the tentative agreement.