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For those of you that missed the Bill Chippas show interview with CAM this evening, you can listen to it at:
http://www.ustream.tv/recorded/5544495
CAM is on from 00:20:00 - 00:40:00
FFF
Terrific! Thanks Ally.
FFF
Ally,
Any updates to the share structure? You usually update us on Thursdays.
Thanks.
FFF
Ban,
I don't know what they actually paid for it. But it's worth is most likely dependent upon how effectively it is extracting metals from the ore right now.
FFF
Yes, the word on the stop sign is STOP.
FFF
PS: I would have thought you could read that yourself.
At the official close of trading we were at $.0031. However there was a Form T, after hours trade reported at $.0034 for 100,000 shares.
FFF
Maybe the crushers were operating and he knew the startup was a go.
No problem JT,
I just wanted my position to be clear to the rest of the board
FFF
Jimmy,
I don't want to replace MD. I have enough to do trying to run my own company in Michigan. But I would be happy to serve on the BOD or any other advisory committee that the company needs. I have offered my services to them. It is up to them if they want to take me up on that offer. We will see.
FFF
Sleep,
Don't get carried away here. You need to first get the gold out of the ore and you don't get all of it. In one of the PR's recently (last couple months), they said they are getting about .25oz of gold per ton of concentrate, not per ton of ore going in. I estimate that at 2500 tons of ore input per day, they will get around 75 tons of CuCon. 75 tons x .25 oz gold = 18.75 oz gold per day. At $1100 per oz, that is $20k per day, or $7M per year.
Now that .25 oz per ton of CuCon was before the new recovery cells were installed. So even if they double their recovery rate, you are looking at $40K per day and $14M per year in gold.
If they run more than 2500 tons of ore per day, then those numbers go up. It has been stated that the mill capacity is 5000 tons per day, but that they will run it at less than that. So I figure they will get somewhere between $10-20M per year in gold.
And hopefully, that will be enough to pay the operating costs. But we won't know that until we start seeing financial statements for the times when they have a full staff on board.
FFF
Glock,
Has rock been crushed? Are they still crushing? Any info on that part of the startup?
Thanks.
FFF
CO,
I don't know, but didn't someone post recently that they do not track FTD on stocks that are below $.01? And I also thought that poster said July 2009 is when we went under $.01.
I have no idea if that is true or not, but I remember reading a post here about it.
FFF
The comment was made that they would be bought back and retired. So all 3 (O/S, A/S and float) would all decrease if that happens.
FFF
It reduces the A/S, but even more importantly, it reduces the O/S.
FFF
Utah,
I do not believe that anyone here has any proof that dilution is occurring. I am sure that RtR meant, IMO. But if he knows it for sure, then I would like to see it.
Ally reported earlier this week that there has been no change to the A/S and O/S.
To the best of my knowledge, all company sales of stock have been private placements of restricted shares sold direct to investors. I have not heard of them selling shares right into the open market. Now, maybe that has happened, but I am not aware of it.
FFF
M78,
It was more of a hello, good bye. I sent an email yesterday to CAM, and copied in the BOD, on the numerous, what I percieve to be, errors or discrepencies in the uploaded document to pink sheets and the need to get some financials uploaded so that there is not a shareholder revolt. He said he has contacted corporate about coming up with some financials that they can use. He didn't say what the outcome was of that request.
FFF
I spoke to CAM this morning. He was on his way out the door for some dental surgery. So I wouldn't expect to hear from him today.
FFF
Svalente,
The line of credit is one of many short-term, bridge, and long-term financing options that they are currently discussing and negotiating. To my knowledge, none of them are finalized at this time. Which probably explains why the mill is still down.
I have been hearing how long term financing is very close for over a year now (since my visit on 2/5/09). They keep insisting that they are close. I just hope that they mean a lot closer than they were a year ago.
FFF
Copperbullet is the head of security at Copper King.
FFF
Did you meet up with copperbullet?
I think it will all come down to whether or not CPRK can get some financing and then start up the mill. And I personally, do not believe that they are going to give JIT that information on a tour. We may get some nice tidbits from his tour, but I don't expect any answers to the big questions to come from his visit.
FFF
CPRK,
I agree with just about everything you wrote there. But the part that you seemed to have glossed over is "Once we are producing and selling....". NONE of that other stuff happens if we don't get to that. And right now none of us know if they will be able to get back to that. If you think they will then you will probably go buy more shares. I already have too much into this stock so I am sitting tight.
FFF
Tom,
At night the bid and ask usually spread way out. (Why? I don't know.) You will see them come closer together as we get close to the opening bell for trading tomorrow morning.
FFF
I have repeatedly told the BOD members to put me on the BOD.
As of now, I have not yet been asked to join them.
FFF
Slam,
Just a thought. Maybe that is the holdup with getting financing.
FFF
Glock,
That matches up with what I have already reported here.
I am not sure why Webtime is reporting the opposite information.
FFF
Thanks Glock!
Over 10M shares traded within the first 4 minutes of trading. Could we see another record day for the number of shares traded?
EDIT - actually just under 10M shares.
FFF
I just verified this. I found it on another board.
The www.copperkingmining.com website now directs you to the www.wuccompany.com website. So I guess we now have control of the copperkingmining.com web domain name again. Also, the website appears to have been updated with the new information.
FFF
And I am very leary of it.
FFF
Shiz,
The document is dated Feb. 1. Anything in here that is not accurate as of Feb. 1 should be considered an error and should be immediately corrected by the company. IMO.
FFF
I also question EB and MS only owning 20M shares each. I was under the impression that their holdings were much greater than that. But again, maybe they are backing up loans so they can't be counted here.
FFF
Web,
The A/S number is not wrong for Feb. 1. The 1B increase came after that date.
FFF
Web,
My DD tells me that the mill is not yet running. On what do you base your assertions that the mill is running?
FFF
Shiz,
Don't believe that they are currently processing. I believe there are a number of items that may not be factual in that document, this being one of them.
FFF
Weekends tend to be pretty quiet here.
CK,
CM talked quite a bit about magnetite. He didn't talk much about the moly.
I copied this from a post on another message board. Another person on the same board posted the same message. I have not verified the validity of the post, but I am pretty sure that CAM as the CEO is in error.
Just got this in my inbox from The Market Financial (one of their authors is Michael Vlaicu btw)
Quote:
Update On CPRK Coming Soon
Scheduled Interview In The Next Few Days With CEO, Mr. Charles Moskowitz
Dear Trades,
We have noticed some highly bullish technical indicators on Copper King Mining Corporation (CPRK) the last few days. Today, we touched base with CEO, Charles Moskowitz, and will be looking to update the investors with some updates on recent news.
This to be discussed are:
- Chile Earthquake and its effects on Copper King, Will it bring in extra demand and increase prices of copper?
- Pink sheeets compliance, when is it expected to have finalized?
- Highly shorted stock (over 30M+ shares shorted during the last trading session), any presentations for shareholders they are planning?
- News regarding updates on the Mill
- News regarding financing for long-term operations, establishing renewed optimism and liquidity for operations
The chart also looks rather beautiful for a quick double / tripple from current levels.
We will have a full report out in the next couple of days.
Regards,
TMF Staff
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I spoke to cam a little while ago. He is working on another update.