Candy, I have not seen your lease, and thus could not speak specificly about the terms found therein; however, in my experience, mineral leases are typically transferable so long as they are current. I would retain an attorney immidiately to protect your interests. I have several names I can give you that have experience with such matters. If you would like their names please pm your email address. They are out of state, but could probably refer you to someone here in utah that knows what they are doing. I know that some of the land owners were caught unaware of their actual positions in another deal I was involved in. I can tell you, their are going to be some very well funded people trying to claim what is yours as their own, and you will have to protect it. Good luck to you. I feel bad that Dotson duped you into this position.

This is different then leasing out an office building Richard. Do the home work. I promise you are wrong. My family has been in the oil biz for 40 years. We have speculated on leases, buying low, waiting for a discovery in the area, and then selling at a profit. They are almost always transferable. There are time limits, and optional renewals, but as long as the lease is current can be transferred. Listen, you are a smart guy, but you just dont know what you are talking about here. You are way off. I wont argue with you anymore about it. Do your homework, and then come back and discuss.

Not true Richard. If the company is forced into Chapter 7, it will get liquidated by the trustee. Look up provident royalties. They had 400 million in leases/mineral rights liquidated. Nothing can be held up forever, and you can bet the lenders are going to push the issue, and have the resources to do so. You dont think the land owners who leased to provident royalties put up a bit of a fight. Didnt matter in the end. They signed the leases, the leases were current, and the leases were liquidated. Period. I am not saying it wont take a year, but it will happen. Watch.

Johnny,

Do you think the first would have put up 320 K to renew certain leases if they thought they were non-transferable. They knew BK was going to happen, yet they put up the cash anyway. These leases are transferable, and will be liquidated in BK. You dont have to take my word for it. Do the research yourself. I dont know how to earn trust here. I have been right and forthcoming every step of the way, and you still dont beleive. LOL, hope is a powerful thing I guess.

Provident Royalties, an oil and gas company went BK about a year ago. Their mineral leases were liquidated and old off to the highest bidder by the trustee. Look it up.

Richard,

The first trust deed recently put up 320 K to renew part of the mineral leases. They did this to protect their interests. I am talking in the last two weeks. The land owners signed contracts with terms that if kept can be transfered. Mineral rights and leases are frequently bought and sold, and honestly the land owners have no say unless the contracts are in default, or the terms of the contract/lease are broken, or prohibit there transfer. Do you think that if CPRK wanted to sale everything off to say they chineese, they would need each individual land owners approval. That is not typically how it works, and is not the way it will work in BK. I can guarantee Dotson did not set it up that way. I have dealt with similar issues with other deals related to oil exploration, and have to say you are just wrong. Unless this is the exception to the rule, once a lease is signed, it is transferabal so long as the lease is current and will be liquidated in BK to pay off creditors. That is if they can find a buyer for them. I know this first hand.

I can answer that. Once Dotson came to the reality that the floatation system was not going to cut it, then he scrambled to find an SXEW cheap, which as you know did not work out. If they would have started out with the SXEW, we would all be copper rich right now. At the very least, a severe error in judgement on Dotson's part.

Here, here!!!! I agree.

Oh yeah, Dotson was the man. Way better then what we have. You guys have no idea if that is what you think. He is the reason we are all in the mess to begin with. BK would have happened with or without Dotson as CEO. It was most definitely in his vocabulary as far back as 9 months ago. I heard him say it--on record. He had consulted with BK attorneys on numerous occassions Before November 2009. While you all were thinking the mill was going to produce concentrate and generate revenues, they were thinking about filing BK. If you think otherwise, you are wrong. Shareholders are done here. It sucks. IMO, there has been foul play, and possible SEC violations. You want to do something about it, best chance is to organize and put the fear of God into these people. If they think they can get away with it, they will wipe you out. If they think there is a possibility they will get burned, even a small one, then maybe you have a chance. Free advice is worth what you pay for it, but there it is anyway.

If being visionary equates to being broke I'd rather leave the visions to the psychics. Which there obviously are none on this board. While I can appreciate your sentiment, the time for blind faith is far past. Let's hold those resposible accountable, and by any legal means necessary. Regardless of what anyone says on this board, the shareholders are most likely done. We can pretend otherwise, but it won't make it so. The right thing to do is make the consequences for poor judgement, mal-intent, or just plain stupidity real. IMO, fear of loss does not play into the equation for cprk mngmt, but maybe the fear of endless law suits and possible jail time will motivate them to do the right thing. Just a thought. Good luck JFP.

There is a petition being prepard that will ask the judge to oust the current BOD and their appointed management due to gross incompentance, mis-use of funds, etc. etc. There will also be a new plan laid out for moving forward in BK. I dont know if it will happen right away, but I could see this going in a totally different direction that what anyone here has mentioned. In fact, I find it most plausible. GLTA.

I feel you Richard. We are on the same page, but in much different positions. Thank goodness we are ahead of you in line. It would suck to know you are last place before the race even started. It is true that we are worse off then the secured guys, but in a much better place then the common shareholder. Atleast that is what my attorney is telling me. I hope he knows what he is doing. Good luck Richard.

No it doesn't. Not even close. The secured debt will have to be dealt with one way or the other. Only way to get rid of the debt stigma is by paying them off, or through a sale. They have nothing to collateralize otherwise. What are you talking about???

What now Sleep? Still dont believe me? I know, I know, the choice is yours to believe me or not. Farmboynate, Is the BK also due to the inclimate spring weather. Ridiculous and sad.

Check out post 64446 regarding the spring weather and how this relates to the mill shut down.

Dont worry guys, the mill is only down due to the inclimate spring weather. Has nothing to do with the fact that the equipment did not work, does not work, and will not work. It has just rained soooooo much this year that there is not way they would have been able to get the mill up in running. Also, dont worry too much about those pesky lenders who have filed the notice of sale. CPRK will figure it out. They always do. Everything is well, and right in the world. Let's all buy these cheapies. Arent these share prices wonderful. What about good ole Mark Dotson, he sure did a great job at what he was good at. So what he didnt get the mine to process ore. It's okay. He put together the claims. Oh, and Marcus Southworth, he is our savior. Don't worry, Marcus has a history of winning. Isnt he just the best. What a great guy. Don't worry about a thing folks. Marcus is going to pull this one out.

Doesnt this sound silly, or at best a little naive?????

They know that sleep. They are planning on it. You think the gurus at my stock buddy are any smarter then the lenders on the 1st trust deed and their attorneys. Please stop trying to discount this notice of sale. It is real. They are not screwing around.

LOL---Are you really still focused on that???? Dude this company is in shambles, and the share price is approaching zero, and you are worried about a few posts from Web from months ago. Serious??? Nate, there is absolutely nothing positive that has come from CPRK, and nothing positive that will come from CPRK. People have lost everything on this stock, and the primary person responsible could care less. He literally could care less. No feeling or remorse whatsoever for what he has done here. I don't know about you, but I am mad. There are many even more upset then I am. I know of several large shareholders who were promoted by officers of this company that are taking this as far as legally possible to get justice. I hope they get it.

That is the biggest joke I have heard today. CPRK will be gone by then. Watch!!!

New Sheriff in town, then who are the outlaws?????? Is he going to arrest his right hand man Barlow, or just roll over on Dotson when this hits the fan????? Maybe he should throw CAM in jail??? Who wrote those POS PRs anyway???? Dude, it sucks. I feel you. I really do, but this thing is done. I would be willing to bet what I have into this it will go down, and heads will roll. Any takers. Maybe I can get my entire principal amount back. Please take my bet Sleep. Please.

Nate,

Are you serious. You are going to blame this on spring weather. I cant believe you would even bring weather up as a possible cause for the mill being shut down. That is ridiculous. IMO, everyone here knows better. The mill is down because it does not, did not, and will not work. Also, they did try the new additions out, but they could not get the mill to work. They tried and tried. Brought engineers out. It had nothing to do with the EPA at the time. The new additions did not work as anticipated, just as the original set up did not work as planned. This whole thing is one botched nightmare. I can't believe I lent these guys money. BTW---believe me now on the 60 acres????????????

Sleep the herd mentality on this board said all was well and good with the mill for close to 9 months. No one believed me when I said the ore was not compatible with the equipment on site. No one wanted to believe that Dotson valued nepotism over competence. No one believed that Dotson spent 60 million dollars on the wrong equipment, and that he was on too many prescription drugs to count after his back surgery and blacked out entire months of his life. No one even believed that the first trust deed would ever file a NOS. That was herd mentality. This is herd reality. The herd was in denial for over a year, and there are still a few stragglers that have not yet come to grips. Good luck sleep. You will believe me soon enough.

My prediction is BK is imminent.

I wont argue with you on that Thunder. Let me clarify, he is the better of two evils. Dotson was/is wreckless with other peoples money. I get the sense that Southworth at bare minimum gives a $#!& about other peoples money, but I could be wrong. I have only had limited exposure to him. Dotson ot the other hand, well, he could care less. He is a piece of $#!^ as far as I am concerned.

Honest truth, you and I probably do not disagree. I also hope, but have become pretty synical given my experience with the whole thing. Southworth is not a bad guy, but the rest of these jokers, well.... Anyway, back to work. Good Luck Rich.

So your saying theres a chance???

LOL---Now that may be. Truth is though, I never inteneded to invest. I lent money based on collateral. Atleast I got something back.

Right, but you were and have been wrong all along. It did not fail because someone predicted it on a chart, it failed because Dotson spent 60 M of other peoples money on the wrong equipment. It failed because Dotson valued nepotism over expertise (my opinion). It failed, because due to back surgery, Dotson was "forced" to take a myriad of drugs to "manage" his "pain", that may have clouded his judgement (my speculation), and "caused him to black out entire months of his life" (on record). It failed because Dotson hired a buddy, David McMullen, who had no mining experience, to be his VP in charge of ops. It failed, because Soutworth, Horton, Barlow, and other falsely promoted (my opinion, and others) the magnitude of the opportunity,and now have no credibility left whith which to obtain further financing to obtain the right equipment. This company is in shambles. Always has been really. Reserves mean nothing without the right people in place to get the job done. CPRK will fail. Watch.

Rich,

Reserves, reserves, we have massive reserves. Does that really help you sleep at night? Dotson spent 60 M of other peoples money on the wrong equipment. This floatation system is not compatible with the ore on site. It will never work as anticpated. Never. We should have started with SXEW. It would have been cheaper, and more efficient. Floatation could then have been brought on later to process the tailings for gold, silver etc, etc.

Do you really think the reserves alone will save this operation???

Rich, are we still in an upward trend???? I remember your charting days with CPRK. Oh the glory days, back in August and September of 2009 when everyone but me thought CPRK was "going to da moon". LOL. CPRK is going to fail folks. I consider it a fact. I do not think I will be wrong.

WOW---really??? Quite the reversal there Nephrite. One thing you have always been right on---CPRK does have lots of rocks. Problem is they are worthless without the right equipment to extract the rare earth minerals they contain. No one believed me. Not saying I told you so, but....

The damn has developed another crack. It will be breaking soon. When it does, shareholders are going to drown. Metaphorically speaking that is.

You are right. It may get legal; however, I know it has been said that if certain benchmarks are not met, he has agreed to file automatically. Sounds like it was part of forbearance. I guess we will wait and see.

That is right. hence no one person should be able to sign a forbearance on behalf of the other partners.

Richard,

The guy holding up the 1st from filing is only one of several participants on the 1st. Participants making up 60% of the 1st trust deed want to file a notice of sale. one particpant who makes up 40% of the deed does not. It takes all of them to file. I dont think you understand the situation. It is not the 2nd or 3rd forcing the 1st to do anything. It is a dispute amongst the members of the 1st trust deed. One of them may have singed something with cprk that he had no legal right to do without the consent of the other owners of the deed. Hence he may be forced to file if he does not agree to file. It will happen, just a matter of when.

There was an agreement signed for the 750 K, but it was unsecured, and they did it based on being told there would be cooperation with current lenders. There was not.

I think so Johnny. CPRK spent millions on the wrong equipment, and lost a lot of credibility along the way. Let me restate the problem. The mill is not compatible with the ore on site. They are broke. They need different equipment that they cant afford to make this thing go. Southworth and Barlow have blown through all their connections, and no one wants to lend them more money. If it were not for one participant lender on the first holding things up, the first would have already filed a notice of sale. He has his reasons, but once he either agrees to cooperate, or is forced to cooperate, this thing is done. I think it will be sooner than later. This thing is going no where fast. It will fail. Just a matter of when, and how it goes down.

I am not Empire Advisors. Empire Advisors/Altus Metals lent CPRK 750 K in the anticipation of putting together further STF. Problem was, they wanted a first position which required subordination and participation of current lenders. The deal never happened after the first 750 K was already out the door. Empire was not happy. Dotson and McMullen had promised the participation/cooperation of current lenders to get the first 750K. truth was they didn't have the support they said they had. Anyway, below is the first few paragraphs of the agreement that never happened. Hope that answers your question.

INTERCREDITOR AGREEMENT
This INTERCREDITOR AGREEMENT (this “Agreement”), dated as of January ___, 2010, is entered into by and among:
EMPIRE ADVISORS, LLC, an Ohio limited liability company, ALTUS METALS, LLC, an Ohio limited liability company (collectively, “Empire”); and
WILL HAMILL, an individual, MILES LAWRENCE MCCRACKEN, an individual, RODNEY EVAN SCHMELZER, an individual, BRENT THOMAS BINGHAM, an individual, DEVIN DURRANT, an individual, ADVANCED STRATEGIC PLANNING, LLC, a Utah limited liability company, VALERIE EVAN DUARTE, an individual, MILFORD INVESTORS, L.L.C., a Utah limited liability company, MARVIN G. NEFF, an individual, DENNIS V. BACK, an individual, BRIDGE LOAN CAPITAL FUND LIMITED PARTNERSHIP, a Utah limited partnership, REYNOLDS BROTHERS CORPORATION, a Utah corporation, and [DPI COLLEGE, LC, a Utah limited liability company,] DDB UTAH LC, a Utah limited liability company, MILFORD COPPER INVESTORS II, L.L.C., a Utah limited liability company, [TOP-NOTCH [INVESTMENTS][HOLDINGS], LLC, a Utah limited liability company,] [BACKCOUNTRY INVESTMENTS, LLC, a Utah limited liability company] (collectively “Senior Creditors”), whose addresses are set forth on Exhibit A hereto; and
BRIDGE LOAN CAPITAL FUND LIMITED PARTNERSHIP, a Utah limited partnership, M.E. DANCY CONSULTING SERVICES, INC., a Utah corporation, JONATHAN B. WELLS, an individual, WENDELL GILE TRUST, a ______________ trust, and JOSH ROMNEY, an individual, and DEVIN DURRANT, an individual (“Durrant”), (collectively, “Junior Creditors”, whose addresses are set forth on Exhibit B hereto, and collectively with Senior Creditors, “Prior Creditors”); and
COPPER KING MINING CORPORATION, a Nevada corporation, WESTERN UTAH COPPER COMPANY, a Utah corporation, and MARK DOTSON, an individual (collectively, “Copper King”).

Well, combine this with the financial state of the company, and game over. If they pull out of this, it really will be a miracle. My guess, this will be the straw that breaks the camels back. When the senior creditors see this, if they have not already, they are going to be scrambling to get theirs. Watch.

Chuck,

I have read it before. Like I said Soutworth is not a bad guy.I live and do business in utah, and share his beleifs. We have a very small business community and I have ran into Southworth in the past. CPRK is not the first business for which he has raised money. As far as beliefs, sincere or not, IMO, there is no direct correlation to good business and religion. In fact in this state, religion is often exploited in business dealings to the point of it being obnoxious.

Richard I think the question is does anyone capable want to suround him and associate themselves with a company like CPRK.who wants to work for a company that doesn't make payroll? who wants to work for a company with such a shady past. IMO it will be hard to attract anyone with any real ability. Southworth is trying, but what is his motivation? I would not want to be on the tail end of the law suits that may be headed his way from the investors from who he promoted money for cprk. IMO, he is running scared, and on a wing and a prayer hoping to pull it off, but not really believing it himself. I guess what I am trying to say is yes he is smart, smart enough to know this is now a losing prospect.