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Complaint?? Very interesting verbage when WUCC are the ones who notified state authorities about the problem so they could proactively admit to it and fix it... again great spin ABIGHAM... but I guess its called that to get things corrected...
jtf
Yes, and it appears to me they are taking corrective actions while still staying in production. You guys really try hard to push your agenda don't ya?? Im betting on the project and mgt; not you guys...
jtf
Post the rest, HAM. You know you have it...
Come on Web; read my post more carefully. There absolutely have been ST loans done in the past to help w cashflow (i've done some!!) and everyone knows they are working on a LT financing solution!! Two last year fell through. But they are not giving up... ask you dad. He might know...but maybe he doesn't. Bury the axe w MD and keep you eye on the mill / project.
Unless of course, they have received ST/LT financing/loans... but you conveniently left that out...
jtf
I guess when they sell some con and get a check... how's that? JMO, by the end of aug...of course the mag shipments technically are rev even though its paying back a loan... patience... some here don't have it and it shows and have personal axes to grind w CPRK/Dotson... yeah mgt is not perfect... my eye is and always has been on the asset.
jtf
Come on Lex, you've got em, don't you?? I mean your in the industry and you have connections, right? Heck ask ABIGHAM, he's got em and you got em; between the two of you you guys should figure it out and post them... the whole story though...
jtf
Read the docs that you have...
Lex, maybe should you finish your email w the fact that a local senator down there was helpful w the water issue and helped them stay open while they fix the issue. They are up and running and the air/water people know the issues. BTW, how's SLC?
You are correct; not shipped; just produced and awaiting shipment... but you know that.. or did you?
Taken care of... but you knew that already.. or did you?
Hey ABIGHAM... just curious, are you affilliated w Texas Pacific Group (TPG) by chance?? VCs who might have an eye on a start-up copper company and it would help if the pps was WAY DOWN?? maybe not...
jtf
Hey Ally, couldn't help but notice the chart... lookin' good... is something up??!! Hopefully soon...
jtf
And, my understanding is, they had several deals but terms were not to our advantage so we turned them down. In hindsight this might come back to bite, but they have / had deals on the table... its a tough environment w tough terms... jmo.
jtf
IMO, i think the better pps reaction would be LT financing pckg. But shipping con would be a great PR....soon.
jtf
Hopefully you were aware of the consequences and risk of this transaction when you did it.
Mod's; could someone place the 2 radio show links somewhere in the I box...
thanks,
jtf
He will also need a ZECCO form signed by officers of company and notarized... I know... I had to get it.
jtf
o2m, my understanding is that the coal company will take all the mag we can give em and then some. But even if they max out, the market is tight for mag and we will have no problem finding someone else to take it.
jtf
I heard it was up and running last week after new auger insert was installed. I saw it being installed a week ago. I also heard process proceeding very very well with excellent con. I think within a week or two we should be shipping.
jtf
Full capacity for con is 100 tons per day. 5000 tons of ore per day and mag is 1000 tons per day is my understanding. And the mill is not at full production/capacity right now; probably 1/2 except for mag.
jtf
I heard there were many deals and everyone wanted in on the con contract. Maybe SEMPRA sweetin' the deal to get it???
I heard approx $20 a ton when it was signed which was close to the market value then.
jtf
I heard approx 1.0b is loan collateral which could be retired after payback...
From a friend who made a nice find. Way to go Oldfart...
http://www.theaustralian.news.com.au/story/0,25197,22826408-5005200,00.html
jtf
Oh yeeh for ABIGHAM for being the only one who recognizes CPRK has financial issues right now.... unbelievable...
My simple answer is very, very soon!! I don't think anyone actually can state a date... to many variables. But my estimation is within 1-3 weeks.
jtf
Eye, let me comment on this because I think most shareholders might have a slight mis-understanding on what is going on down there right now.
Everyone knows they announced "production" or whatever one wants to call it a couple of months ago. The ultimate goal is consistant, full production of approx 100 daily tons of high grade con and then at sometime in the future adding SX-EX. However, as I understand it, RIGHT NOW the priority is NOT neccesarily production of significant con... its the dialing, tweeking, priming etc etc of the PROCESS / MILL so we can get to the ultimate goal. Yes, con is being produced, but we are starting, stopping, changing, reacting, analysing, testing and basically prefecting the PROCESS. This takes months (in some mills it takes 6 months) Thats whats happening now. If you have 50 things to change or tweek you have to do them one at a time, see what the results are, so you know what it is that works and then move to another. That being said, we are very, very close to the ultimate goal... the experts running the mill are extremely pleased w where we are. I hope people understand what I'm saying.
jtf
1,000 - 1,5000 tons of ore per ball mill. At full production they hope to achieve 100 tons of con per day is my understanding...
Sorry, I don't...
Here is some info regarding my visit yesterday:
1. Auger - liner for 2nd ball mill arrived and was being installed and will be operational today or tomorrow.
2. Daily tonage is currently 1 - 1.5 k tons for 1 ball mill ramping up to 3k - 4k tons for both ball mills within days/week or so. It takes time to ramp up and dial in.
3. Con has been produced and was falling into bin. Content is very close to opitmal levels; dialing in "recipe" which changes every day due to ore, grinding, chemicals etc. I handled some and was told texture is very good.
4. "slime" in water has been an issue and is getting better each day. Affecting reclamation of water but they will fix shortly w changes to ore grinding texture, other reagents and other "tweeks" to operations (settling tanks etc).
5. Yeah, they owe bills and are past due on some.....DUH!! They are keening aware of past due bills and will pay when they can (gee, I guess thats why they are seeking ST and LT financing which is ongoing.. imo, it will probably happen with consistent, sustainable production)
6. Working very closely w all regulatory agencies to do whats right and be/stay in compliance... (BTW, I heard a rumor NOT from my visit that NSS is being looked at very seriously by outside agency)
7. Mag is working great and they are shipping many, many thousands of tons out each week via rail. I also heard mag price per ton is up...?? will help us in the future once mag loan / contract is satisfied (probably the trucks that are being seen...)
8. Determined more than ever to make this a successful, profitable project. (they are aware of all the challenges and don't need anyone telling them what they are... they are certainly very, very motivated and vested in project/shareholders success) ...I'm happy but know we still have several hurdles to overcome (I believe they will...)
jtf
Great questions from all; heading into work and will respond when I have some time today.
jtf
Just got back from the mill/mine (7th trip). I saw lots of smiles and I'm more confident than ever!! We are very, very close now. I even saw con falling into the bin like pennies from heaven... We still have a few challenges to overcome but the hard working folks down there that some don't give much credit too are bustin ass to make this happen and I feel will overcome the challenges.... jmo.
jtf
The PR states "favorable" conditions... maybe an up front "pre-paid" amount as one of the fav conditions??? IMO, yes....!!
jtf
The one I know and have spoken to is Lyndsey... that's all I know..
FYI, Ms. McCarthy is actually Mr. I know that for a fact...
The liner that was backwards was the magnetite mill; I was talking about the other ball mill. Plus I was trying to describe the situation as it was explained to me... I didn't see you there.
Yes, there are 3 ball mills but one is basically used for magnetite. It was up and running fine. There is plenty of mag to ship...
jtf
RDG, this is my understanding. Within days we will be PRODUCING the grade (28%+) of con necessary that will be saleable (right now we have 50+ tons of 20%- grade that will still be used). My understanding is we need approx 500 tons in order to be shipped. My estimations have been that they can produce approx 50 - 100 tons of con per day, so until they ramp up and get an inventory, shipping might only be weekly but eventually be daily. I believe it will be the end of July before we have enough saleable con; maybe a few weeks more.
BTW, regarding the 2nd ball mill, it was posted that it was broken; actually what I heard was the blades were fabricated incorrectly (basically broken!! There's 2 types; one to push and one to pull...the one we got was the opposite of what we needed!!) They are awaiting a "correct" auger which has been shipped from WA and is scheduled to arrive today or Monday and then takes 2 days to install. IMO, that ball mill should be up and running by the end of next week.
Another note: full production will be approx 4000-4500 tons per day with both mills operating. 5000 is max capacity but they probably won't max it right now.
Hope this helps... btw the "other" credit metals (specifically gold is higher than what they anticipated.
jtf