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I don't personally buy into the NSS thing either. At least not on this stock. I think it is down because there are too many unknowns. IMO, would be investors are too sketched out to move. Copper King is late, or is not following through on promises made in their PR's, 10/8 pending trustee sale is looming, their debt structure is outrageous and out of control, and they are still not compliant, nor transparent.
I thought (cant be sure) that the first and second both extended until January. I hope that is the case. It seems like we are so close. I hope these guys can stay their hands a little longer.
That makes sense. I was under the impression that under the modification/extension that the note and term was restated and now due January 10, 2009. No possibility of recourse until then--right?
Ally, I have been to the mine twice. No doubt that it is impressive. If only copper king could sell pictures of equipment for the same price as concentrate. The PPS would be sky high, and I would be a rich man. I guess I just wont believe it until they PR revenues, become compliant, and get their debt under control. I am going to look at the pictures, cross my fingers, but not hold my breath.
Alright, just read Kidd's fax he received. Looks like a trustee sale was to occur on the 9th. I guess the question is, did the sale occur. Did the creditors credit bid, and foreclose. What am I missing here. I just jumped on a second ago. Been out of the loop since Friday more or less. Thanks.
I will re-read. I hope I didn't get all worked up for nothing.
WOW---I can honestly say I didn't see this coming. It looks like the guys holding the second on the mill are making a move to protect their position, and show Copper King they are through screwing around. The first is likely to follow. From what I have heard, Devon Durant, and Dennis Back are getting pretty sketched out after their last inspection. It is seeming more and more like a house of cards IMO.
Hammer---all I can is WOW!!!! I hadn't heard that payroll checks were bouncing. If this is true, we as shareholders may be in some real trouble. IMO.
Nate, in your last post you said that you happened to believe that CPRK was close to becoming compliant. Why do you believe this? Does it just feel right to you, or do you really know something the rest of us do not? IMO, they are still a long way off?
Verdie---You are right not to believe everything you hear. I also am very skeptical of anyone I meet in an online chat room. All info given on this board must be taken with a grain of salt. That is why I gave you a case number and a venue. Don't take my word for it, or anyones for that matter. Honestly, I hope I am wrong, but everything I have found to date says otherwise. IMO Dotson is no longer the right man for the job. I think the board of directors should replace him with someone less scandalous and more competent. All IMO of course.
You could be right, but I doubt it. I have known the guy that gave the info to me for sometime. Good guy. He says otherwise, but it will be what it is.
Nate, i dont know exactly who they are suing. Never said I did. I hope to know soon. What I have been told is that Dotson signed personally, and copper king guaranteed as well.
I never said he was reviewing it. I said he was verifying it. Looking it up, and then printing off whatever documentation he can find. All I have is a case number, and a venue. Are you on something?
I guess if I were going to sue someone, maybe I would consider using him. so maybe he is my attorney. I dont know. I dont have him retained, and he does me favors for free. You tell me since it is soooooo relevant to whether or not Dotson is getting sued by lenders he has not paid back.
Again, what are we arguing about. I have a buddy that is going to look the case up on pacer when he gets a chance. What the big deal who he is. Everyone knows an attorney right??????
Well I am not an attorney. And again, it is my friend that is helping my out (who happens to be an attorney). What are we arguing about here? No you are just arguing for the sake of being argumentative. If you don't have a point to make, I will no longer answer you. Do you need my mothers name next? This is getting a little weird?????
Nate---what did I say was going down "today". Never heard on any legal proceedings all happening in one day??? I did mention that I had heard that Dotson may be deposed Thursday or Friday of this week in Cedar City. FYI, Depositions can happen anywhere. I have personally held depos at my office. So as far as the court calendar, not sure it is even relevant. Does not have to go down at the court house. Nice thought though.
I would not call him "My attorney". He is a long time friend that is an attorney, and I will not put his name on board. If you need an attorney of your own, you can grab a local phone book. Plenty of them out there. If you don't have a phone book, look online. Most attorneys have pacer accounts. Someone should be able to help you out.
Dude--read my posts!!! lol. My attorney is getting back to me on the case number, and venue I provided. he is looking it up. As soon as I get it, I will give it to you. The problem is you still wont believe me. Soooo---look it up yourself as well. lol.
look ten posts or so back. I gave it to you before you insulted me. lol!!!!!
not sure. you will have to talk to your attorney and see what he will charge to look it up.
LOL--love the sarcasm. I can see where you are coming from, but give me the benefit of the doubt here. I am in the middle of my DD, and disclosed everything I have been able. I don't expect you to believe me on face value, but I did give you a case number and venue. What if I was to post documents that proved my theory. I bet you would still claim foul play. You would still want to verify it yourself. Maybe, if I just let you find it on your own, you will not have anything to say. I suggest you have your attorney verify it on Pacer. ;) Who knows, maybe you will decide I am right.
you may be right. I will read all of his posts.
WOW!!!! Sounds like the same thing. Does the Regulator have any comments. If you are out there Mr. Regulator, please enlighten us further.
Nate read my posts. The lender is out of St George. The property is in Grantsville, and I didn't know the court venue until last night.
Nate do you really believe that "everyone and their dogs are trying to destroy CPRK". Sounds way, way, way overstated to me. What a conspiracy theory!!!!!!! Their may be a few individuals out there trying to short, etc, but destroy the company, Come on. I just want the truth. I want a president and CEO in their that can take us to the next level. I want a CEO that has our, the share holders, best interest in mind. From what I am finding, I don't believe Dotson is that man. All IMO of course.
Ken--I am a no one. Just an investor like you. I came across a few court documents from a friend of mine, and promised I would not post it anywhere. He made me promise to do my own DD. I have already contacted a friend of mine who is an attorney that is going to look up the case number for me. I will post as soon as I get anything back. Have your attorney do the same.
btw--you will need to have an attorney look it up on pacer. you wont find it on the utah state web site. you will have to spend a few bucks on this one. good luck.
third district court, salt lake county, case no. 080921559. That is all I will give you.
Ken,
I agree. It is normal, and even expected for a hard money loan to go several months past term. This is not what I am talking about. I am talking about 1 year plus past due. On multiple loans, totaling in the millions of dollars. I am talking about promises made, and notes signed with no intention of keeping the terms of the same. I am talking about severe character flaws in the president and CEO of Copper King Mining. IMO, it has nothing to do with money management strategy, and everything to do with honesty and transparency.
Nate in a message intended for you Pal3 stated "he's right, cprk hasn't paying debt at least not brigde loan. john pennington told me." What does this mean?
Nate who is Pennington at Copper King?
Pal3 who is Pennington? Is he part of Copper King Mining? Sounds like he agrees with me that they are not paying their bills.
Nate you seem like a good guy, but you are in denial. Just because you wish something was different does not make it so. There is plenty of proof out there if you look. Come down to St George for a day and ask around. You will find all you are looking for and more. I wish you were right, but sadly it is what it is.
I am with you that Dotson's personal loans may not affect revenues, but I don't think it is irrelevant to our position as share holders. IMO, if a man makes a commitment knowing he will not be able to honor that commitment it speaks volumes about his character. From everything I have heard, this is a reoccurring theme with Dotson. Whether it is hard money loans, vendors, contractors, or the power company, Dotson seems to make promises that he is unable or unwilling to follow through on. I don't know the man personally, but I don't like what I am seeing.
Honesty and transparency are paramount in business. Especially where share holders are involved. I want CPRK to succeed in a very bad way; however, it is hard to continue to invest more money into a company that has a CEO that is willing to cash checks with seemingly no intention to ever pay the piper. I know, I know---I can sell anytime I want, and I just might. Until then, lets hope that Dotson really has the share holders best interest in mind. That is the primary job of any CEO, to take care of its share holders. It is not to create as many jobs as possible in Beaver county, or to line his own pockets, it is to build the pps---period. He works for us, and IMO it is time he starts acting like it.
Holy cow!!!! Just looked at todays range. Why so volatile? What happened? Someone fill me in.
Nate property off the I-80 in that area is going for around a buck a foot. I think that would put 60 acres at closer to a few million, not 30 million. That much I know. Also a buck a foot is conditioned on the property not needing fill, and being 100% completely usable acreage. Zoning, and entitlement also comes into play. I wish I had more time to research this whole thing. I hope you check into it more before drawing any conclusions. Thanks for the help. BTW--you were not saying you had changed your mind about me were you. I was just thinking we were starting to become friends. GO CPRK--make us all rich.
Could be bogus Nate, but I don't know what there motivation would be. I got my information from a title company here in St George that claims they closed the deal. I asked for documentation, but they said they couldn't give me anymore information. I will keep prying though.
Lex I was told that the same individuals foreclosed on property located on the exit in Grantsville Utah held in the name of a company that Dotson Owned in June. I am more curious than anything else. It is my understanding that the debt held by CPRK and management is getting outrageous which makes me nervous.
did you search 5th district SLC. I was told that was the venue.