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I have gotten legal Cameltoe. Been suing these guys for a year and a half.
Legacy,
Looks like I was right. PPS tanked even more. This sucks. Who is responcible for CPRK's failings. We all know the answer.
Legacy,
Just like Johnny Said, Its going down, down, down in a burning ring of fire, and it burned, burned, burned, and the flames they got much higher....
Let's see---The IR Department cannot be trusted, The last PR told us nothing that we didnt already know, Dotson is not a man of integrity and will say or do whatever it takes to raise the next dollar, We are BROKE with no financing in sight, there is zero transparency (that is putting it lightly), the PPS has tanked (all time low today), dilution continues (another 1 billion shares in the last month alone), CPRK is up to its eye balls in debt which it cannot service, they can't even make payroll, much less accounts payable, Sheriff's sale was narrowly averted (almost lost a bunch of their equipment), and the ore is more difficult to process than was originally thought or diclosed. To clarify 60 million dollars of other people’s money was used to purchase the equipment that does not process the ore as anticipated!!!!!!!!!!!!!! That does not include the shareholders.
No one likes to see their investment tank. It sucks,but it is time to get a grip, and hold those responsible accountable for their actions. You can go on with your misplaced optimism, blind faith, and undeserved praise for CPRK and management. That is fine for you. I am a realist, and frankly quite angry with the whole thing. I don't like being duped out of money, and I am not the type to back down.
I am heading to Delta Utah tomorrow. Just for the day. If I get a chance to stop in Milford on the way, I will report back and let the board know what I find.
Johnny,
It will be fun to meet you in person. I have enjoyed your posts as much as any on the board. Very entertaining, and eloquent. I appreciate the information. I will JUST SHOW UP. Looking forward to it regardless of what happens.
Good. Me too. Showing up means accountability. My guess, we will show up and dotson and mcmullin will be out of town on business. If things are still as they are now, these jokers will not be looking forward to a bunch of angry shareholders having a picnic in their town. Lol. Can't wait.
Nate I think you need to listen to walt in riches second video re-posted by ally austin. He briefly discusses, and alludes to the difficulties in processing high sulferoxide content ores. The gist of what he said was lots of people have said they can do it, but when the rubber meats the road it is not so simple.Maybe that is why they decided to focus on gold? With that said, why did they not build the SX/EW first? I will tell you, because dotson did not do his homework and does not know as much as you claim he does. Notice the way the ball mills are set up. When they were originally placed it is clear that no thought was given to SX/EW or cementation. They were placed inside the building with the floatation equipmeent. Which by the way costs more than you think.think about it nate. Thus far CPRK has been one collosal mistake after another. If dotson were not so impulsive we could have avoided most of the problems.
Surviving, living on borrowed time, and borrowed money---all symantics I guess. Their "survival" to date, is due soley to barlow and southworth bringing in new creditors and promoting this turd of a stock. Not that impessive if you ask me.IMO,"their survival" has very little to do with the actual mill/mine, or CPRKs liar of a CEO.Had barlow and Southworth known Dotson was spending money on a process that does not work with the high sulfuroxide ore on site, they would have ran away a long time ago. I mean come on, Dotson made a 60 million dollar mistake with the floatation system. Sounds like we all may know more than he does Nate.
NO ONE WILL TAKE MY CERTS. NO ONE. NOT FIDELITY, NOT ZECCO, NO ONE. Initially Fidelity said they could, but when I actually drove clear to SLC, they turned me down. It took me a year to get the TA to clear up the restriction, and now I cannot get them online. BTW, I was told by a fidelity employee I was good to go, unitl I actually tried to deliver them, at which point they said there were restrictions put on CPRK. So, if you want to by certs yourself, and have 40 K or so, PM me, and lets do this.
Well I have to admit, I was wrong about the PR. My prediction was the PR would be filled with superfluous garbage about assay reports, and core samples. Instead, we got three paragraphs telling us almost exactly what we already knew.
As usual,they said so much by saying nothing at all. What a joke. No wonder the pps is tanking. This is what I know about CPRK.
-The IR Department cannot be trusted, or they say nothing at all!!! Reference todays PR.
-Dotson is not a man of integrity and will say or do whatever it takes to raise the next dollar.
-We are BROKE with no financing in sight. Read between the lines on the latest and greates PR.
-there is zero transparency. That is putting it lightly.
-the PPS has tanked, dilution continues. Another 1 billion shares last week, and not even a mention in today's PR.
-CPRK is up to its eye balls in debt which it cannot service.
-they can't even make payroll, much less accounts payable.
-Sheriff's sale was narrowly averted. They almost lost a bunch of their equipment, and then didnt have the decensy to clarify on the event in the PR.
-The ore is more difficult to process than was originally thought or diclosed. Yeah, Yeah, they just expanded and it is going to solve all of our processing problems. I will believe it when I see it.
To clarify 60 million dollars of other people’s money was used to purchase the equipment that does not process the ore as anticipated!!!!!!!!!!!!!! That does not include the shareholders.
This is a JOKE, and I am angry!!!
Sleep,
I caught your post regarding Hammer, and the CPRKSA. I do not know Hammer either personally or professionally. I also have zero ambition to participate in the CPRKSA. After careful consideration, I do not believe it wise to relinquish any of my rights as a shareholder. I also do not believe that CPRKSA will ultimately be a difference maker. From my perspective, CPRK’s fate has already been determined by past actions which it is unable to unwind. LTF is the shovel that could dig them out of their hole; however, I do not see it happening in the near future. I think it is too little to late. IMO, with all of the negatives on the table, lenders will see it as too big a risk. Bridge money is a second option, but will not happen unless 20 plus lender participants agree to allow it. Problem is, doing so, puts every one of them in a worse position. I see it as less probable than LTF. It is very unlikely they will come to a deal that involves participation, dilution of current trust deed positions, and subordination. So, with that said, we will see what comes of the PR discussion tomorrow. IMO, no one should set their hopes to high.
GLTA---REG
Richard,
I promise, the man is not as sly as you would think. Sly implies a calculated intelligence. He is more like a bull dog than a fox. Lot's of bark, stubborn, territoral, but does not have much of a bite. He is very impulsive, and does things without first giving time for careful thought---i.e. he borrowed millions of dollars without an exit strategy for repatriation. Another good example of his impulsive nature is the fact that he spent 60 million dollars of other peoples money on floatation equipment that is not compatible with the high sulfuroxide content ore. If you don't beleive me, reference richwaters videos. If this thing is going to have a chance, it will be without Dotson.
Sounds plausbile. Frankly, may be our only hope. Let's all hope that is the reason.
That is the same as asking: If a money tree started growing in you backyard, would you be pissed? Problem is, I think the odds are better that Mariner find the tree, then any of things you mentioned being in the Tuesday PR. If there even is a Tuesday PR. I am not convinced there will be. My guess, if there is, it will be filled with superfluous garbage.
This isn't the oreilly factor, and we have been waiting an awfully long time for a PR.I for one am not convinved one is coming at all. I can't read minds, and don't have a crystal ball; however, everything I know right now points towards a lot of good people being duped out of a lot of money and yeah----I am angry about it. Fair and balanced is a nice sentiment,but CPRK has not been fair with the shareholders, and I am convinced Dotson is mentally unbalanced.Until Dotson, barlow, mcmullin, Charles and the gang are gone, the status quoe will remain, but I guess you like things the way they are?
Nephritejade,
This is what I know about CPRK, Not bashing anyone, just stating the facts as I see them. The IR Department cannot be trusted, Dotson is not a man of integrity and will say or do whatever it takes to raise the next dollar, We are BROKE with no financing in sight, there is zero transparency (that is putting it lightly), the PPS has tanked, dilution continues (another 1 billion shares last week), CPRK is up to its eye balls in debt which it cannot service, they can't even make payroll, much less accounts payable, Sheriff's sale was narrowly averted (almost lost a bunch of their equipment), and the ore is more difficult to process than was originally thought or diclosed. To clarify 60 million dollars of other people’s money was used to purchase the equipment that does not process the ore as anticipated!!!!!!!!!!!!!! That does not include the shareholders.
With that said, Nephrite, why aren't you as angry as I am about the performance of CPRK and management? I don’t get it. I understand, hope springs eternal, but come on. Are you really going to give CPRK management a pass on this? CPRK has been dubbed the Milford Miracle on this Board. I will tell you this much, with what I have mentioned above, it is going to take more than a miracle to pull this one off.
Nephrite, No one likes to see their investment tank, but it is time to get a grip, and hold those responsible accountable for their actions. You can go on with your misplaced optimism, blind faith, and undeserved praise for CPRK and management. That is fine for you. I am a realist, and frankly quite angry with the whole thing. I don't like being duped out of money, and I am not the type to back down. Nuff Said. LOL.
Colorado,
I will email you.
Or maybe, they are going to take whatever revenue they receive in dilution to pay the impending legal bills coming their way. A million bucks doesn't get them by for a month with all the past due bills. IMO, They are sucking every last dime out of this thing before BK.
What now Nate? Where is the positive spin???? You always have something to say.
Serious???? I don't even have a response for that. CK, you have finally shut me up. WOW???
Thanks Rich. That is exactly what I was looking for. I can tell your intentions are well founded, unlike some others on here. Now I really get back to work. Have a great week.
I agree with you. Each person has to decide for themselves. I do not take issue with that. My concern, is that some on this board continue to paint a picture that is far from reality. Not everyone is as sophisticated as you are Rich. It would be a shame to lead them to their financial demise with misplaced optimism and wishful thinking. I will leave it at that for the day. I should be working.
That is one heck of a big IF. Worse than Vegas odds if you ask me. All hinges on LTF. Without it, this is done. STF will not cut it, unless it is either unsecured, or 60 M. I appreciate the optimism. The cup half full thing is admirable, but not reality.
Almost all of them live in Utah. yeah they have been to the mill. Numerous times. They have seen what you have. They problem is empty promises. When I went to the mill it looked great. Still does. The equipment is impressive, but looks have not equated to dollars. Two years of empty promises.
This deal has been on the table for months. Negotiations have broken down several times. The lender is capable, but the 1st has been unwilling to cooperate to date. Doesnt matter what you would do, or what makes sense to you. If 26% of the first blocks cooperation, it will not happen. They do not have 75% with the participants on the first. I dont think they evey will. Again, the deal puts current lenders in a worse position in the event BK happens. Period.
LOL---pennies on the dollar my eye. The first will get every penny of principle back if half what you say is true about the mineral reserves. Dotson promised these guys they would be in and out in 4 months. Here we sit two years later, and no substantial payment has been made. I am a lender. At this point, even if BK means pennies on the dollar, which it doesnt for the first, it is progress towards partial repayment. Especially if you think BK is emminent anyway. These people are tired of the empty promises, and tired of waiting. If you think for a second that anything is for sure with 20 plus lender participants, and 20 plus personalities involved in 3 trust deed positions, you are way of base. You obviously dont have a feel for what is really happening here.
IMO, you dont get it. Because of the current creditor sentiment, secured STF is near to impossible. No one in their right minds will lend unsecured STF. That means, it is going to take big dollars to make this happen. They will have to pay 60 M plus to pay everyone off, and have a secured first position. I dont see it happening anytime soon. So really, we are splitting hairs. You could be as right as you think you are, and LTF is still a shot in the dark.
unconscionable---yes. Sorry, I am Gen X. I have always had spell check, and never learned to spell.
To clarify, "step aside", means that the particpant lenders on the first trust deed will agree to dilute there positions by sharing the 1st with Empire Advisors/Altus Metals who would lend 7 Million to CPRK. This would also require that the junior creditors subordinate their positions. That is, the 2nd and 3rd positions would have to sign off on the deal for STF. In doing so, all current creditors are put into a worse position. IMO, the only way it will happen is if LTF comes in and satifies all liens. Why would any lender put himself in a worse position? IMO, LTF, or BK. LTF is not in the near future in my estimation, so, well you know the rest.....
Not getting what? That CPRK is broke? That there CEO is an overmedicated sheister? That Dotson and managemet purchased 60 M of equipment that is not compatible with the ore? Or maybe, I dont understand how the lack of transparency is good for us shareholders? Could be, I just don't get how they could borrow money under terms which they never intended, or thought they could abide by. I dont know, maybe it is good they are not making pay roll? What dont I understand? I must be off somewhere, because you are pretty sure you are right. LOL
LOL---Are you serious? Funniest thing I have heard on this board. So, if someone were to lend CPRK money for "fuel", just what position would they be in? Maybe 10th? Sounds like a great deal. Then, maybe, if you are lucky, Dotson will decide your note is unconciable, and try to get out of the liability all together. LOL
I would if I could. Due in part to the clearing issues created by Dotson and Managment, I have not been able to get my stock certs online with anyone so that I could sell them. Trust me, I would be out yesterday, even at these prices, if it were possible. No brokerage will take the certs, and just try to get an attorney to write an opinion letter for the restriction. It was near to impossible. Took me six months to get the TA to clear the restriction, and now no brokerage will put them on line. How about you sleep? You want to buy 17 million shares that you cant get online. I bet not. LOL--you are too much.
Funny how you say "too much big money". Who do you think lent this money? Big bad bridge money lenders. LOL. These are mostly mom and pap investors, who came together on one note. The only big money person involved that I know of is Josh Romney. Josh is in a second position. The participants on the first are not big, big money people. It took 5 of them to lend 7 million dollars for hells sake. Real big money. LOL.
LOL. If that is what you think you have no idea what is going on. I personally know several participant lenders on the first trust deed, and they are to the end of their ropes. There are over 20 participant lenders that represent the senior and junior creditor positions. They are all 2 years past due according to original loan docs. If CPRK does not pay them off soon, they will foreclose, and CPRK will be forced into BK.
Nate,
Exactly my point. Months have gone by without paying their bills.The mine has been shut down for over a month. No revenues are being generated. Payroll is not being made. Do you think they can go on forever that way Nate? the more time that goes by, the more probable BK becomes. Time only makes my argument stronger. Interesting how you could see it anyother way.
What gives is they are broke, and financing has not come through. This whole upgrade thing is a facade. They installed some tanks that had been sitting around for months, and then used the installation as an excuse as to why the mill has been down. Upgrade, My eye. This is all about money, and the apparent lack there of. Everyone still think they are producing con and generating revenue? If they dont get financing soon, CPRK will go BK, and shareholders will be wiped out. They are to that point folks. I can't say if it will be in the coming weeks, or months, but if something does not break for them we are all done.
Read my past posts if you want more information. Thanks.
To me, STF, is short term private bridge money. Most of the private money lent to CPRK came from private individuals with little to no experience in lending. A lot of them, are not rich people. They invested retirment money based on information provided by Dotson and Barlow, with the promise that it wold be paid back ahead of time---no problem. Truth is, Eric Barlow, and Jim Horton went out promoting for these loans. The dug up money from a lot of mom and pap types, and had them particpate on the various trust deed positions. They were promised the world, and in most cases it was CPRK that actually came up with the terms. So how are they loan sharks? I say again, often times, the terms were offered by Barlow and Horton, and accepted by the lender. you obviously have no clue what is going on to make that type of statement. Funny thing is, now Dotson claims the terms were unconciable, or worse that he can not remember signig the notes due to his medication, and thus should not be held liable. Talk about devious. This is a joke.
Sorry RS. I will spell it right from here on out.
I know them to be true. No doubt in my mind, or I wouldnt say it.