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Well, when one visits the mill and hears it direct, you'd think it would be "on target".... you should try it some time.... visiting the mill that is. You'd get alot of your questions answered and would help to lower your stress and anger...
BTW, yesterday was another incredible visit to the mill...again. People, hang on...!!! we are very, very, very close. We still have some challenges but seeing the mill up and running was amazing... its working and it will start producing saleable con / cashflow very soon. The head engineer was very satisfied with progress so far.
BTW: To add to Cobre,
Another concern was their cash position...very tight but they said "we are survivors" and it will be taken care of. Still in talks for LT financing but its based on consistant production / saleable con which is days away. Right now they are funding operations through ST loans with stock as collateral which increases the O/S and A/S but are really not issued/sold and will be retired some day. Dumping of shares, IMO, is not happening...
They have "proven up" billions of lbs of copper. The area is loaded with resources and we've only scratched the surface. The industry knows about the project...
Long term plans are to add a smelter but again we have our plate full right now and they know it.
Fairways took pics/video which he will post later... glta
jtf
YES!! And I expect a PR to summarize the final contract.
Thanks ally, but let me remind everyone that the float will go up substantially when the WUCC shares are converted into CPRK shares. However, this is already part of the O/S and A/S. No need to panic... plus most of these shares are held by key, loyal shareholders.
jtf
Basically that number is approx $50m per year at 340 days of 24 hours a day.... It could be valid, it could be low; I've "heard" a higher number of double that... but all things considered, I'm hoping for $50m per year gross revenues. BTW, I have my own spreadsheet and many variable numbers have come from very reliable sources.
jtf
TK, my interpetation of the word would be conversation, phone talk, email, 3rd party verification, visits, PR's, etc. I know that is very broad but thats it.... but whats key is that most of the word is coming from key people at the mill and others who know whats going on down at the mill... jmo
jtf
Really?? I would have never guessed!! But I don't believe your story. Several months ago when the pps was around .0125 - .015 you posted something to the effect that at the next uptick you were gone; since then there have been 3 MAJOR uptick to .015 -.03 and you're still here...ummm.. you are not what you say.... back to ignore...
jtf
My understanding is they didn't sell all 1B shares. A significant portion has been used as collateral for short term loans (not $10m). Its my hope, but somewhat unlikely, that some or a majority of these shares will be retired after the loans are paid back. BTW, they do have cash and cash flow issues right now....but hopefully close to fixing those issues w LT financing and / or concentrate sales. The word is they are very, very, very close to consistant, full production starting w 2500 tons a day and ramping up very quickly.
jtf
Sorry, TK, it doesn't. After the reverse merger (which is really broght us all here), CPRK had 2.5b; we are now at 4b. The 500m you refer to was basically a company with very little; WUCC brought the asset to the deal. BTW, I didn't mean any dis-respect with "dude".
jtf
8X's dilution??? Dude, you need to check your math.
jtf
3F, I like your numbers...
jtf
This past weekend.
jtf
I think it means ounces per ton of CONCENTRATE not ore production... big difference.
ounces per ton
Cup of concentrate... its there. I was told you can see gold w a hand lens. ....now CPRK has to finish w trouble shooting the mill and its full production. IMO, this month.
Pan of concentrate...assay shows 36% copper, .30 OPT gold and 8 OPT silver
More concentrate pics.... "paning for copper!"
More floatation pics; was told it was loaded w copper and gold!
Picture of copper concentrate in the bin at CPRK
Sorry, I don't know that answer but I'll certainly find out with a phone call or my visit next week!!
3f, as usual, a great summary of points. Regarding #2, wasn't the payment made using a "raw ore" figure? In other words, yeah...no concentrate sales / production but certainly they've been excavating big time which is part of the production process and they sold the "as is" ore in addition to the magnetite ore. Regarding #3, yes payment was made (more as a contractual filling token payment) but if the company doesn't have money to continue paying royalties due to cash flow issues/lack of sales, that is another legal matter; not an extortion attempt to get more money or change the deal last minute and grab the land. Gee, if a judge doesn't see through this one... well... not to mention force majeure...
This is serious and the company is taking it serious and they will respond very aggressively, but IMO, this will be settled to our advantage. BTW, I've heard concentrate is being produced at the mill now (small stock pile, too), imo, a PR to announce the concentrate partner(s) should be coming soon, and they have settled many, many problems and breakdowns at the mill. They/we are so close right now after many years of hard work...(a few more weeks) I'm trying to arrange a visit next week to see things for myself.
jtf
3V, I've heard the same thing; that the so called dumping by insiders and/or company is not happening. The recent A/S increases have been stock collateralized loans. But obviously someone is selling; maybe the WB side and vendors who got stock years ago w deals. And of course the infamous MM so called possible manipulation...? I think its probably day traders, moms and pops and others who just can't stomach the news (and lack thereof) and recent stock decrease. So be it.
jtf
C, my understanding is the increase to the O/S was to finally add in the WUCC shares that had already been accounted for. This number should be hitting the float too.
jtf
These pics were taken last week and I was told the copper content was approx 36%.... more than double typical industry start ups!! (per head engineer who was involved in the Quadro Mine in Ely, NV. btw, its my understanding that the Quadro Mine took 6 months to "dial" in and had much lower content at this point; we are within a couple of weeks!!)
jtf
Finally, the concentrate disk filters. The last step is pressing out the water content for shipping.
Another from the flotation tower.
Did someone say "concentrate"? This is the 2nd to the last step...
I thought everyone might enjoy a couple of recent pictures:
This is the Hidden Treasure Pit. If you look closely you can see the (green hue) copper ore everywhere.
Web, I think CPRK is taking this seriously. However, its my understanding that contained in the contract is a "force majeure" clause. IMO, I think this concept applies in this situation. I believe, even though a real lawsuit, it will be taken care of just like all the other issues have been up to this point. How its taken care is the question; negotiation, extention, thrown out, additional compensation... just to name a few.
jtf
RDG, respectfully, I'm going to disagree w your assessment. I believe NS is after something; probably more money, imo. The word from the mill is still good and hard at work towards full production; just tweaking the recipe of re-agents right now. BTW, you never know how courts will go, but I like the chances of a Utah court with a utah company that appears to be trying to be shaken down by a foreign company. I say lets put Candy B on the case!!
jtf
IMO, I believe this is another ploy to get more money; the timing is interesting to say the least. I'm not privey to the contract but technically, WUCC/CPRK has been in production shipping 5000 tons of magnetite to the coal company since Dec08. They also have fired up the mill w a soft start which takes 2-6 months by industry standards I'm told... production?? I guess the courts will decide. But I do know material is being run through the mill; a very good definition of production. jmo
jtf
New blast picture. Will post production ones as I get them.
CB, not yet. Only after cash flow positive production and / or long term financing deal. The people I know there are amazed at the pps right now. They believe its WAY undervalued but the market right now says NO.
jtf
Documented?? Absolutely!! I don't think that has happened though.
jtf
C, I don't know about your "mystery trade", but my gut has always given me the impression that something sneaky is going on behind the scenes w this stock. Can't prove it....(how does one go about proving naked shorting??) Maybe someday someone will have to produce their certs....then we'll know. And if people believe it doesn't happen...well imo I think they're missing it...heck, even the SEC says its a problem; and its easier to hide w a no name penny stock...
jtf
RDG, even though I agree this type of info would be helpful, IMO it would never be released as an official PR or through any official company medium. I'm sure the SEC would not approve and it would be "hear say". No prudent company would do this imo. But, its my understanding they have had "informal" discussions with parties interested in the project. I also believe they get calls on a regular basis. The project is not for sale per MD.... especially at the current ridiculous price. jmo.
jtf
Yup!! I believe the dark canyon in the middle left is the Maria Mine; in the foreground is Bawana, Niagara, Old Hickory and Sunrise. Off to the left (out of picture) is Candy B mine!! The OK mine is located in the upper left just above the mill.
jtf
Great point Candy, there are indeed "other" minerals there and the way its been described to me is these "other" minerals; gold, silver etc are usually a percentage of the copper... if the road mine is "loaded" w high percentages of copper then just think what the percentages of gold, silver etc will be...
jtf
Opposite view looking towards the mill. Road Mine (mound) is in the upper middle of the picture.