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Now that they have something to put in their financial statements I suspect we will see them in due time. For goodness sake, they just started producing revenue. Anyone with half a brain can understand why they wouldn't want to spend much time producing financial statements when all they would have to show are expenses and dilution.
The ballgame changes as they trade dilution for revenue and eventually profit.
F18
In lieu of reading financial statements, I have visited the mill 5 times. My eyes can read financial statements and they can also see the copper in the ground and the mill becoming fully operational over the past 18 months. I wonder if those Enron investors who relied on the financial statements are okay?
F18
Good questions. My limited understanding is that the cementation process would not produce any gold or silver. I'm not sure if you could run the tailings from the cementation process through the flotation process to recover the gold and silver.
It is my understanding that the ore bodies on the top half of the HT mine (mostly mined) have a lot of oxide but the ore bodies deeper are more of the sulfide variety.
F18
I am trying to confirm what I've been hearing about the cementation process being very successful. As many of you know, the cementation process is necessary because the HT mine has a large amount of oxide ore that they have not been able to float at the levels they expected. Cementation works much better for the oxide ore bodies and is a relatively low cost option.
F18
Go visit Milford and you will see plenty. I'm hearing very good reports about the cementation process.
F18
You never know how things will change because of the interview yesterday. It could have zero impact or it could have significant impact. You've heard of the butterfly effect. If just one big shot at Fox Business News was curious enough to take a closer look it could start a chain reaction that could have significant upside for CPRK. We won't know the true impact, if any, for days/weeks/months.
F18
Not sure it matters how Mr. O'Hurley was introduced to CPRK. To me he appeared to be a very informed investor and I doubt he would risk his reputation trying to manipulate the price of a penny stock for WB.
More likely, I think he has been paying close attention to what the company has been doing and he feels the coming out party is near. I suspect he wants all his Wall Street and California friends to see what a genius he is for promoting CPRK right before its takes off.
The timing of this is very curious.
F18
Wow...brilliant strategy. Try to grab an undervalued company by taking it private but before you make your tender offer, have a very famous guy go on national TV and promote your company and the copper industry. Oh, and one more thing...lets put out a couple press releases so that even more people pay attention.
Come on Web you're really reaching here.
F18
I believe the next part of the story has already happened .....they looked into it and decided that the pros don't outweigh the cons. It is comforting to me to know that they 1) feel the stock is undervalued and 2) the board is engaged in finding ways to increase shareholder value.
F18
Welcome to the club.....
F18
I don't think they are waiting.....Rather, I think they have not had the success they thought floating the oxide ore that is more prevalent in the HT deposit. Sulfide ore is easy to float. Oxide ore not so much. This is why the cementation process is such a big deal.
F18
From the Caesar web site....
We are currently focused on researching Mining and Pharma activities, but we may report on other kinds of businesses as well, depending on how fundamental undervalued they are.
We prefer smallcap stocks above regular Blue Chips. Why is that? Because small caps are able to move faster, increasing shareholder returns. We only mention undervalued stocks with an acceptable Risk/Reward ratio. As we are not a registered investment advisor, ALWAYS do your own research!
I certainly agree with the area's I bolded.
F18
Not too impressed with the depth of the report but it should intice a few people to take a closer look. I wish they would have justified their forcast of a .07 share price. Seemed to be pulled out of thin air.
F18
I do not doubt that the Board has discussed the pros and cons of taking the company private but I could not disagree more that they would do it in the manner Web suggests.
I know first hand that the Directors feel CPRK has been beaten down by short sellers and that they are considering many options to protect shareholders against this threat. I do not know all the options they are considering but one of those options may have been to evaluate if taking the company private would force the short sellers out into the light of day.
Web is worried they are going to force shareholders out by a massive RS that will take away shareholders' agency to sell or keep their shares. This is a ridiculous proposition considering most of CPRK's employees and Mark Dotson's Millford neighbors and friends likely do not own enough shares to have ownership in a new private company.
I do not feel Web has made this rumor up, but I do feel his concerns are unjustified.
F18
All this gloom and doom about cprk going private is perplexing to me. I would think any board of directors worth their salt would be giddy at the possibility of taking their significantly undervalued company private. However, this move only works when shareholders feel that the buyout price is fair and that only usually works when the company is so toxic that people are happy to get whatever they can.
Yes, they could try to do so at today's market prices with a RS but that would land them all into a lawsuit faster than web can say "MD is a liar" and likely cause them more problems than it would be worth. If the board is considering this, I applaud them for keeping their eyes wide open even if I highly doubt it will come to fruition.
If they have looked into this strategy, it just makes me much more comfortable in my own estimates of the valuation of the company and makes me less worried about today's pps.
F18
VVV,
Seems doable to add screens but I'm not sure how hard it would be.
F18
I never said it would go up 100 times in a short period of time. Nor an I saying I'm holding my investment until it hits that pps.
What I am saying is that 100 years ago Kennecott had a very small valuation and I anytime I want I can look out my window and see what happened. I believe the ore is there. I agree it will be fun to see if they can get it out efficiently.
However, to say they don't have the potential to grow to a $4.4 billion dollar company is ignorant of all the companies that at one time were just like cprk that have already done it.
Frankly, I am not planning on it hitting $1 share or anything close to that. I'll be quite happy for much less.
F18
One more thing....
My CPRK investment could increase 100 times and cprk would still be a relatively small company compared to the other companies you mentioned.
What do you think the possibilities are of the companies you mentioned increasing their valuations 100 times?
The answer should tell you why we are all here and not on the boards of the other companies you mentioned. IMO, the downside risk is limited and the upside potential is enormous.
F18
Start up Company....really? Maybe I better reassess.
Okay...I reassessed and still feel very good. Thanks for your wise counsel.
F18
Copper Gold, I think you have it right here.
F18
Wish I could. This is way outside my area of expertise (eating donuts and working the remote).
F18
I found this on another board.....hope it has not already been posted....
F18
http://meionline.proboards.com/index.cgi?board=biotechnology&action=display&thread=20
Copper cementation is historical. It was the process that brought the (re) discovery of bioleaching, at Rio Tinto in the 18th century, when blue vitriol leachate was observed to cement onto iron tools. Forward to the future and Rio Tinto's Kennecott operation is still treating a copper seep of 0.1g Cu/L by cementation.
Kennecott developed cementation's state of the art when it replaced its launders with cones, all now dismantled and removed. However, Production wise, Kennecott cones are still being used (or have been very recently) in Australia, by Adelaide Chemical to cement Cu from oxide heap leach at Mt Gunson, S Australia, by Mt Leyshon in Queensland to demonstrate bacterial/CN heap leach for Cu/Au with Cu being cemented, and in 2005 there was discussion of using cementation in the treatment of historical ARD at Mt Leyell in Tasmania. These operations are the best places to check on the state of the cementation art.
Cementation certainly has low capital and low power requirements. It also has low PLS requirements. Which is where the question gets interesting. SX works best at ~3 g Cu/L. Kennecott demonstrated in a bioheap leach/SX/EW trial in the 1990's that maintaining 1g/L would still do. Next, ElectroMetals have built two demonstration plants using their EMEW cell ie direct EW with no SX, that is claimed to work at 0.5 g/L (this was also trialled on Freeport’s ARD). Further, Phelps Dodge have a JV with BioteQ where they have built a demonstration bio-precipitation plant in Arizona, working on 0.35 g/L (most of BioteQ’s other plants are to treat ARD). With bio-precipitation there are cost and complexity implications, but in terms of sustainability it means that recoverable Cu concentration is closing the gap between "PLS" and "ARD" and that has to be good, noting eg the Kennecott example above of cementation at 0.1 g/L. There is more than just amps at stake here.
Finally, an interesting thing to note re cementation is that Kennecott has been the major demonstration site for the US Mine Waste Technology Program's catalysed cementation, using zero valent iron (ZVI) to drop out contaminants such as As and Se. Applications elsewhere of ZVI for organic contaminants have looked at 100 nm scale particles. These are much more reactive and it could be speculated as to what difference this could make to Cu recovery, if it could be integrated into cementation, cost effectively. The twist is that 100 nm particles would make this a nanotechnology, and in the UK at least, there is a moratorium on deploying nanotechnologies. Implications of this definition to the use of ZVI in remediation (or possibly recovery) are as yet untested – unless someone can tell me otherwise?
Eye,
You must have stayed at a Holiday Inn last night because your comments today are right on.
F18
Billy,
When you spoke with Durant, did he tell you what the interest and penalties are for CPRK being in default? If so, please share.
F18
Billy,
The points you raise seem reasonable to me and are things that constantly bounce around in my melon. However, allow me to raise a point that you fail to mention. You make it sound like the poor fools that loaned all that money were duped by MD. The reality is that they are going to receive loan shark type returns for their investment. As I understand it, they loaned about $20 million and that their loans are now worth about $55 million and with who knows how many million shares. Seems to me MD is the one who was duped to give up so much.
As I hash through the past 12 months, it seems to me that MD was blinded by his own optimism and ambition. He would not have signed up for the loans with the people you mentioned if he thought for one second that they would not be operational until now. Those loans have proven to be very very very expensive.
I believe about a year ago he had other deals on the table that would have paid off the bridge loan people but he didn't pull the trigger because in his mind, the terms were not in the best interests of shareholders. I'll bet you he now wishes he could go back and take one of those deals.
I've been to the mill 5 times over the past 12 months and all I can say is that the project is very complex. I can give MD some benefit of the doubt that his earlier projections were not lies. Rather, they were a combination of irrational confidence and a lack of experience building copper concentrator mills.
F18
First you see the child learn to crawl and then walk and then is a blink of an eye you seem them running. CPRK is barely crawling right now. Let's not bash anyone over the head for being proud of where we are today knowing there is much more to do.
F18
New Copper King Video
I think you are asking good questions and I have not misunderstood you to be bashing at all.
I think they are already cash flow positive if you take out the debt servicing and getting closer each week to being cash flow positive for all cash expenses.
"If you ship it.....they will come." (i.e., financiers).
F18
I believe the CU recovery rate has been below 50% but I don't think they are worried about it because they will pick up the lost part with the SX/EW.
Remember that in July we were only getting about 20% CU in the concentrate and now we're up to over 30%. If they keep making progress, we should get to a recovery over 50% and a final concentrate percentage around 40.
I'm not sure if they are sending the material that that comes out of the mag circuit into the floation process but they are clearly taking the magnitite out before the floation circuits. Here is a link to a video that shows the magnetite circuit in action....
Yep...they have a smaller ball mill just for the mag circuit.
F18
I just listened to the show. My first impression is it was really a disjointed discussion. If/when we do that again, I would hope we could script some of the things we want to say so it comes across more concise and clear.
What I took from the show is the same thing I've taken from my recent visit to the mill. We are at the top of or near the top of the mountain that we've been hiking up for about 2 years now. A few weeks ago the trail was steep and our resolve was being questioned. However, now that we can see the summit, we can finally stop worrying about whether we will accomplish the initial goal and can take some time to enjoy the view and make plans for the next peak to climb.
For now, I'm enjoying the view and looking forward to the next stage of this adventure.
F18
IMO,
10x PE makes sense for a mining company that is at near peak performance......it should be much higher for a mining company with significant growth potential.
This is a marathon.....not a sprint.
F18
Nothing that I saw. I don't think we will see any progress on the SX/EW until we have excess cash flow and/or financing.
F18
I visited the mill yesterday and liked what I saw. I saw real progress since my last visit in June. I have video that I will post as soon as I have permission. Stay tuned.
F18
Shipments increasing to 3 truck loads per day over the next couple months. Maybe they will be buying Kennecott's concentrate so they can ship more out.
Come on man.....you supposedly have family that works there. You have to know that soft starts take time and eventually they declare it over and that they are at full production. Thursday's PR was a very big hint that they feel they can now run much more ore through the process.
F18
Profit taking is expected after a 100% increase over three days. I believe we will have a nice week as the word gets out and we have shares move out of the hands of people who bought at under a penny and into the hands of people who are buying the past few days.
The real rocket fuel will be a financing deal after they show consistent production/distribution.
F18
So only posting a part of the email and making people think there is something nefarious is okay but posting other parts is not okay? LOL
F18
So how many shipments will it take for you to issue a public retraction? I've been critical of a lot of things over the past 18 months but one thing that can't be argued is that MD and his staff have made progress.
F18
Why not post the entire email?
F18
Web...
Correct me if I'm wrong but you have been vocal about the validity of the ore in the ground but you just hate MD. Now you're saying you have details of private emails between directors and shareholders and seem to be accusing the directors of illegal behavior. I must admit that unlike a few others on this board, I can't seem to figure out your angle. Is it true that you were the one who leaked the rumor about the shipments to Arizona a couple weeks ago?
F18