The other day I was asked on Google about my visit to CPRK on the 22nd and if I had learned anything about financing. Here is my brief answer. Perhaps it is of interest here. If not, I know it can be deleted.
Nothing on long term financing. I didn't even go there. But here is my story..............
Here is my off the cuff response to an inquiry regarding my visit to Copper King. It was my first day home, going through mail, bathing my dog, doing chores and bills. For the record, I am neither qualified to ask the hard mining and concentrate mill works questions nor would it have been acceptable behavior on my part to hound folks for financial information that is quite frankly none of my business until such time as it becomes public record. For what it may or may not be
worth, this is my story, my feelings in brief. Some of you know how brief I can be. Ha!.
First, I will tell you that I do have a bottom line assessment of the obvious. Without verified earnings reports and shipment data this investment remains pie in the sky high risk. Since stating this, we currently have good news on shipments for processing and a schedule. Like I say, the obvious as it would apply to any penny/microcap investment of venture capital, unproven to date. Because of this, I would throw up all kinds of red flags to anyone wanting to invest in
CPRK. Nothing different than any other similar type of investment. Personally, I remain steadfast in my commitment to my investment decision and feel more confident having been there and personally seeing some of what is going on. In any case, there is more evidence of the potential for success with this investment than I have seen with many other choices I have made during my trading history.
Yes, mining appears to be happening, in that I saw the main pit idle but dug down four or five levels and obvious veins of ore exposed, trucks moving ore on well built and established pit run roads, the mill working, the concentrate being processed with about what might be 40 to 50 tons of the stuff on the mill floor (11 tons est.) and several piles outside. I understood that this has the copper, gold, silver, etc., all inclusive. Also noted that a drilling team was working on an on going assessing of deposit densities and depths and widths. These drilling and digging efforts are aimed at eventually plotting the reserves in addition and with more accuracy than aerial views and previous proven finds present. Magnetite appears to be very plentiful and is a significant bi-product part of the mill separation process.
Ron Wunderlich, Vice President over Land, Water & Environmental took us on our tour. I really like the man. He obviously knows more than I have the knowledge to ask. He is a native of Milford and has lots of hunting, rock hounding and mining experience related to the area. Regardless of CPRK, I'd welcome the likes of him at my table any time. He is very gracious and allowed us ample time to babble over the rock piles in search of the perfect samples. I'm sure that while
he understands, he must find some good humor in it.
Kita, who manages the office in Milford, is a delightful lady who receives numerous calls on one thing or another in regards to the mining operations and investors. She has a 30 pound or so, not sure on weight, piece of Lost Treasure Mine ore on her office counter that is so heavy in all the good stuff and colors, you could not begin to imagine. I don't believe that I could afford to purchase it from them. I brought a nice sized piece and some smaller ones of ore back from the hill top bone pile reserves back to put on my shelf with my
treasured copper cup. These pieces are not as spectacular as what they are getting, but nevertheless quite nice with intense blues and some reds from the what I believe I understood to be rhodolite. Lots of blue and magnetite and a couple pieces have mica. Airport security gave my checked bag the once over. I can just imagine the exray of the ore and magnetite samples. I phoned Kita a couple days after
returning to Vegas just to say hello and thank her again and she said trucks were still going out and was just as upbeat as always. You simply can not meet this woman without wanting to give her a hug. Good person!
If I were to base my investment criteria on what I saw and the two people I primarily was involved with, there would be no holds bared and I'd be all in. However, I consider my two million shares to be a significant leap of faith given that I do not have actual financial facts to go by at this time and that this represents a significant portion of my portfolio value. I'm still committed to a one year hold on the two million shares for the capital gains benefit, given this
continues to move in a positive direction. If my sentiments change, I will adjust accordingly. I am considering picking up an additional 500k strictly for swing trading, but will not play with my core CPRK investment.
It is interesting to see the price back down to just over a penny again. This hardly makes sense and must be due to the fact that the substance of financial reporting has not yet been released. I suspect that by the end of forth quarter it will become impossible for the manipulators to hold this price down as it is today. If you were to visit the area and see the smaller open pits from previous claims mining operations, you would see a pattern of ore deposit appearing to be very rich given the extent of the vast, and I mean vast, area
appearing to be ore bearing.
In my mind part of understanding the investment and the mining
operation is the realization that this ore is not sprinkled through the reserves like a vast gold placer deposit nor is it veins of each of the metals simply ready to be harvested like fruit on trees. I suspect that most investors do not have a clue as to the nature of these deposits and what it takes to access them and mine and process them into a marketable product. This is why I highly recommend a visit by those who have the time and money to do so. I find it particularly fascinating as I have no similar background in mining, other than digging some petrified log chunks out of a mountain side
and venturing into some old gold mines.
These vein and layered deposits, running in varied directions, are of varying sizes and consistencies, some significantly wide and deep, providing impressive accumulations of ore and magnetite in combination. To the novice eye looking out over the surrounding land it does appear that an entire section of the Earth is most likely permeated with a vast diffusion of these geologic ore formations at random and with significant density. There is clear evidence of that fact by the number of shallow mining digs and pits that have been worked over the years and are now part of the CPRK holdings providing
additional geologic charting support data.
When I look out over this barren hot and dry desolate land, I see tremendous beauty with a sky only exceeded in my minds eye when sailing under the Southern Cross. I envision a people with the leather hide of Marines and spirits held in tact by faith and raw gut tenacity. I am in awe of the farms and life the hardy souls have carved from what could only be described as a desolate outskirt of what is most often considered to be our nation's richer lands. This area and the people who have worked and raised their families in it are amongst the best of Americans. Not meaning to get sappy over it all, this is just how I see it as I have a lot of respect for what I saw. These lands are rich and different from what most of us know.
So, this is part of my little story, my experience in making the journey to Copper King Mining from Seattle via Las Vegas. While no small trip for a couple hours on site experience, none amongst our group of five felt slighted by the experience. Seven of us joined for a week of great Vegas fun and our trip was totally successful.