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Here is a close up of the drill rigs...
Here is an aerial (taken by my brother-in-law) of the Road Mine drilling. It is the mound located between the mill and the Hidden Treasure mine. Notice how the mound sticks up out of nowhere... very important geologically. Something is there..
F18, mother lode is a great description... the unofficial word at the mill from those who work there regarding the Road Mine drilling is INCREDIBLY MASSIVE!!! The PR also states "open" which means they haven't found the bottom or sides of the ore zone. FWIW, I was lucky enough to see the road mine drillings during one of my visits (Feb09). Very excited men dripping in water and covered in mud with huge smiles on their faces showed a group of us actual drill corings from various depths of the road mine that were amazing!! Now they just need to finish priming the mill (recipe) and we should be ok... I have some pictures of the road mine that I'll post later if anyone is interested.
jtf
Not quite, Ken. When the reverse merger occured in Feb of last year, the A/S of CPRK increased from 500m to 2.5B. The 2B share increase was to account for the WUCC stock. So it has been accounted for since day 1 even though the actual conversion did not occur until now. Any increases since then have been done to raise additional capital to fund operations. Thats how I understand it...either way, its still one big bucket of stock used for WUCC conversion and funding of the project.
jtf
Web, its my understanding that the dec PR was with the FIRST position and the most recent extension was with the SECOND position. Both positions need to file legal actions to "protect" their interests which have been done over the past 6-12 months. However, either way its getting extensions on past due arrangements with the hope of future funding/revenues. I believe CPRK will take care of it. But that is the risk we all take.... will they perform in ALL areas or not...
jtf
Or how about a re-issue of shares for all legitimate holders and have all the old shares called in?? I wonder what chaos that would create??!!
jtf
Web, thanks sooo much for reviewing for all of us all the issues we all KNOW already. Dude, its a penny stock; deal w it or sell. But Im tired of the broken record... believe me if anyone knows the issues you bring up, its MGT!!! They will either perform and fix em or they won't... then we all decide what we want to do... jmo.
jtf
J, you asked "where" I get my facts and info; I told you. I agree that an investor doesn't need to visit the mill to make an evaluation, but if one is seeking additional info, or doubting lack of transparentcy, or blasting mgt, a conservation w key people certainly could help out (the visit would too). My question to you is where are you getting your facts from? You and BIG have thrown out some incredible "info"... BTW, I realize this investment/company/mgt is not perfect and we still have much to do which does still concern me... yes even I have concerns...but imo, the upside far out weighs the downside. Patience will be rewarded..
jtf
From simply the following:
talking to all of them (visiting the mill helps too)
... you and abigham should try it someday!!
jtf
Its my guess (and a good one) that MD has invested probably more money into this that any single one of us (non-key) shareholders. Also, I believe he's barely making a 6 figure salary and of that he puts alot of it back into the company to help when cash is needed. As FFF, stated, this was HIS company when it was private and now he owns less. IMO, he has earned every share and every dollar he has received as compensation. You and ABIGHAM are really something else...no wonder I ignore you both when I read the daily entertainment blogs...
jtf
BIGHAM, here's something to chew on; lets suppose company wants to buy back shares...lots of shares; maybe even enough to take the company back private. Should they buy them back at .01 or .05 or higher... you decide. Mine are not for sale. BTW, you want answers?? Call the company; I do and I'm happy with the info I receive.
jtf
FWIW< I added 950,000 @ .0105
jtf
C1, its my understanding that approx 70% of the company is owned by insiders / key people that are committed long term. I didn't quite understand your 1/3 comment... Just an FYI.
jtf
Agreed!!
jtf
Maybe you should blame the sellers / mm's and not certain ones on the board buying/hanging in there...jmo
jtf
Not local; Salt Lake City, but have visited the mill/mine 6 times so far and know people at the mill. I just ask questions and get feedback, that's it.
jtf
CopperDude, IMO its somewhere in between none and some. My understanding is that the filtering / settling tanks need to fill w pre-concentrate material (muddy etc) before its moved to the next stage of pressing out the water and concentrate produced. These tanks are enormous; thousands of tons of capacity. Do we have TONS of concentrate? IMO, no but its all a process of dialing in the mill that takes months. I'm just glad Dave Jensen is our mill engineer. He comes VERY highly recommended and respected in the industry. I have heard he is very pleased with the progress so far; higher retrival rates than normal and priming of mill better than normal.
jtf
C, I heard a motor went out but the rest of the mill takes time to stop and material spilled out onto the floor. Motor was under warranty and a new one was received and installed. I think the mill was down 3-4 days.
jtf
Copper flotation / bubbles. Video clip taken Tuesday, June 2, 2009.
IMO, the current increase, whatever it is, is not what it seems; there's more to it; something is up. I'm speculating but it could be related to:
1. Trustee sale settlement
2. LT financing deal
3. ST loan deal / collateral
4. Concentrate deal
5. Capital needs (duh)
6. New partner??
7. Retaining majority control??
Still dilution but not in the traditional sense of flooding the open market with these shares that pinks usually do... again, jmo.
jtf
Great, let me know if you want to know more.
jtf
AB, I'm so glad you are here to let us all know that the "I hear's.." might be hopeful speculation... Wow, youre right on top of things. BTW, any word on the hydrogen power post? If you really had an in to anyone in the know, you'd know all about it (by now...)
jtf
Abigham, you don't have any idea what the truth is....
jtf
FWIW, I just bought 1,000,000 shares at .015... I'm not worried about issues that others have rightfully brought up. Can it backfire? Absolutley. And I'm sure there will be those who say "I told you so..." I'm investing that it won't.
jtf
C, respectfully, Eye might be wasting your time but not mine and hopefully not others as well. I appreciate posts that promote thought and productive discussion. IMO his did...
jtf
RDG, I understand and agree w your and everyone's concerns. So, as of today, interprete that post to be the start of a unfounded rumor... :) FWIW, I believe the company will handle this as they did last fall and in December w a PR.
jtf
IMO, i believe its settled... common sense says it has to be! But I guess we'll all find out soon....
jtf
On2, I hope you're right but my gut says no.
jtf
Exactly!! Thats my point too. We are stuck w it so we need to deal with it, now and ongoing... perhaps a buy back is planned. It wouldn't surprise me. They believe the stock is a give-a-way at .017. That would be the best use of $5-$10m if they had it. But one can also look at the structure as: 35,000,000 @ $1.70 (BTW, for all those who think I'm suggesting a rev stock split, I'm NOT). The ASSET is the play; the stock structure is not the play. Will it scare off some? YES. It can still work based on performance and cash flow (and a lot of other things!!); if that happens we will get noticed... imo.
jtf
Free, not quite; WUCC/CPRK looked into every possible form of financing available, but considering the economic and finance environment the past 2 years it was not possible (keep in mind; A START UP MINING COMPANY!!). The stock dilution that everyone is screaming about was the only form of financing available (of course after the bridge loans)!! Please anyone, tell me how they should have done it at the time??!! What was available?? Now that their in production and hopefully a pending trustee settlement, their options increase. If they can secure LT financing, it will change the deal. Maybe they can "recover" some of the dilution at these lower valuations... imo.
jtf
Pal, at the time of the reverse merger, the mill had already been started (approx Apr-June07). IMO, (when I saw the mill) it was 50% complete and has since been finished.
jtf
CQ, thats how I understand the situation.
jtf
Pal, interesting "stuff" that shows up. Pre merger CopperKing / IBD had a history both good and bad, so potential investors might be scared off; can't blame them. They even had certain "characters" involved both good and bad. But if one does the proper DD they will find out more of the story/facts w WUCC / CPRK. Even WUCC as a private company had/has issues, but its really a different story than whats out there. But the history is just that, and it comes w the reverse merger. I wonder if a name change would help and would be part of the bigger strategy?? Probably not... jmo.
jtf
That pic is an actual panoramic view of the CPRK Hidden Treasure Mine which is currently under production.
jtf
It can't hurt!! But your right, I imagine he will have his plate full w other issues/priorities. I posted previously that at the open house in late March a representative from the Gov's office of economic developement was invited (heard he attended but not sure) along w all of Utah's senators and congressman. So I think its safe to say Utah state officials know of the CPRK project. Senator Hatch is big on Utah green geo-thermal energy and went to the ribbon cutting at RaserTech's new plant near CPRK. One last bit of info, a couple of key individuals at CPRK know the soon-to-be new Gov of Utah so future contact is possible there. Things are starting to line up; now just settle the Trustee sale (imo, will happen) and LT financing and those on the sideline should come on board.
jtf
Djr, sorry I mis-understood somewhat what you were asking. IMO, I don't think the latest price decreases were tied to CURRENT stock sales (last month or so) as those were restricted only. Some have posted that it was. However, prior stock sales of restricted shares now free trading certainly could be part of the price decrease (although the ave price a year ago was much higher than today). The 1 year wait for all WUCC shareholders is now over (of course not counting 144 rule for key people which is approx 70% of total shares). I believe the selling is from typical day trading and profit taking from the .01 - .015 levels. From a percentage daily/weekly standpoint, right now, this is a very compelling stock.... get in around .015 and get out at .02+ several times??!! Only one of these days its range could shift up, imo. Again, my only point was to state that CURRENT stock financing is restricted shares as I know it.
jtf
I can't absolutely say "without a doubt" going forward because the company could change program in the future, but as of last week+ and as of today, thats the stock financing available directly from company. There might be other parameters though such as accredited investor etc. Hope that helps...
jtf
No kiddin'...
C, nice comments; and since the CEO of FLWE is involved w CPRK then perhaps CPRK will eventually get there. My guess is FLWE took some time getting there; IMO CPRK is working on this and will get there. Its only been a year+ since becoming public and they have been very busy working on the mill / production as priority #1.
jtf
Simple, I've personally experiennced it.