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I believe a deal with the bridge loan people has been the primary road block to obtaining LT financing. The only leverage CPRK has had is the threat of Chapter 11 BK. If CPRK were to have access to significant cash from LT financing, it would essentially take away their only leverage to save millions of dollars of interest and penalties. If they can negotiate a bridge loan payoff of say $45 million vs. $60 million, I would consider that a significant accomplishment. Remember the original bridge loans were in the low to mid $20 million range so I won't feel sorry for the bridge loan financiers.
If the bridge loan people have agreed to accept less to payoff their loans, IMO that coupled with proven cash flows from operations will make the door wide open for completing the LT financing.
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The concentrate falls out in the mill in the very spot Mark Dotson cut the ribbon at the grand opening.
Also, the person in the video who is obviously very happy is Dave Jensen. He is perhaps the most qualified and experienced mill engineer involved in this project and from what I have heard has the respect of others in the industry including people who are not only personally invested in CPRK but also have high profile positions at Rio Tinto.
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Be careful ster.....you could be accused of being just a MD croney. Most of us here agree with you.
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You must have forgotton about my top 10 reasons not to like this stock....
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36267166
#6, #5, #4, #2, and #1 all have something to do with management.
Still waiting for your top 10 reasons to be positive.
Also, several items on the list do not seem to be as big of problems as they did just a few months ago.
#9 is much better, #8 is better, #7 is better, and #1 is much better.
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Colorado,
You have pointed out several compliance issues that are very real and imo very indicative of start up companies that put compliance on hold while their trying to build something worth being compliant for.
One other theory for the lack of communication is an intense desire not to make additional compliance mistakes that would cause them to be bogged down by SEC inquiries. The spotlight on CPRK is getting very bright here and I'm sure the SEC has them on their radar. Now that we have a mill and are near major production and revenues, I would rather see them error on the side of being conservative with their public disclosures and forward looking statements.
I do not believe MD is just trying to stick his finger in the eyes of investors so we might want to give him the benefit of the doubt that he has a plan.
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We must understand how these soft starts work.....I clearly don't have the full picture but what I do know is that they start out with low grade ore for a while to "season" the mill. This means they use the low grade ore to fill in gaps, and they need to low grade ore to settle in at the bottom of the tanks so the good stuff floats to the top. Every once in a while they try some high grade ore and measure how much they float. They then change the reagents to improve the yields and do it all again. Sometimes it is two steps forward but one step back. For example, during soft starts it is common for pumps and motors to fail. These delays are frustrating but part of the process.
From what I understand they are very close to being at the point where they feel they have the whole process fine tuned enough to maximize the output. I've heard the people who have done this before (e.g., Dave Jensen) are very pleased.
While they have been in production for several weeks and have produced some concentrate, I don't think they have stockpiled much concentrate yet. However, I believe we will see full-scale production/shipping of concentrate this month.
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Colorado,
On one hand I agree with you that we need to keep MD focused on the really important things. However, I suspect the personal tours given to date have been to help raise money. Until they actually have postive cash flows or a LT line of credit, those tours will still be necessary to prey more money out of the wallets of people like me who have been three times with a 4th trip planned for next week.
F18
From your lips to God's ears.
F18
Six months ago the posts were like these....
I hear they are working through their power problems...
I hear they have found excellent water sources.....
I hear they have purchased new equipment.....
I hear they have ..........
In many, many situations, what was once I hear.....has become "We have......"
F18
I really thought I was sticking to cprk.
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Colorado,
Seems you believe that someone going to the mill is a good thing, you just don't believe it needs to be you. The problem is that some are unwilling to put much weight in the postings by those who do take the time to go and visit the mill. I've been there three times already and would rather not go a forth just to validate that the place exists. Each time I go I learn much more about the progress and have never been disappointed that I went. Seems people discount what is told to people who visit the mill and are only willing to trust press releases......
Fact is, for anyone who needs to have things proven to them, this is not the right place to invest. I do believe that within a year, the company will have better disclosure and audited financial statements which is really the only thing from any company that should be relied on. Even then, you have to know that there are some bad auditors out there and financial statements don’t always tell the whole story.
I am very comfortable with the risk/reward here and feel my DD has been adequate for my comfort level. Some on this board, seem to want the upside potential of this stock but also want the company to act like a Fortune 500. Can't have it both ways.
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Keep up the good work Morgan Man. Nice to know somebody has they eye on the ball.
F18
Copper at 2.25/lb, Silver up, Gold up.......
IMO, talk of chapter 11 BK is fear mongering by people who either want your shares cheap or who want to kill your investment.
While I put the odds of ch 11 near zero, even if that were to happen, the true value of the assets would keep the company alive and well. People have purchased nearly 1 billion shares over the past 6 months because of the value of the assets. That won't change overnight. Many companies have used ch 11 to buy time and have come out of it just fine.
I think June will be our breakout month as we get to near 100% production and should start shipping concentrate by the truck loads very soon.
I'm planning my 4th trip to the Milford for later this week. I'll do my best to keep you posted of what I see.
F18
I don't think May's numbers would be all that impressive.....June's numbers should be.
F18
I believe they are only selling large quantities to accredited investors. I think minimum investment is $50k.
BTW....my rough calculations indicate that today's increases in copper, gold and silver are worth about $.008/share using their expected production of 80,000 lbs of copper, 3900 oz of silver and 40 oz of gold per day. Much more when the SX/EW circuit goes on line.
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If not lower, why would anyone buy them? 20% lower is what they are selling the restricted shares for.
F18
Sure is nice to know that the increase in oil/gas prices is also tied to increases in Copper, Gold and Silver prices. Let's all hope for $4 gas. Seriously, I am a bit worried that the increase in gas prices will choke off a recovery and that will not be good for copper prices.
F18
Any dilution will show up in the pps because it will lower upside potential. Also, keep in mind that those who are buying restricted shares most likely have free trading shares as well. Buying restricted shares at a discount and selling free trading shares in the market would be a way to lock in some gains and lower their cost average.
As far as not being able to predict that the dilution will end soon. The company said so in their production pr just three weeks ago. They said that within 45 days of that pr, they would be up to a sizable amount of production. My DD tells me that they will be making a profit at the levels they are projecting so why would they need to keep selling shares? Besides Colorado tells us that they can't authorize any more shares this year anyway.
F18
I have only heard of them selling shares in private deals to investors hungry for them. I should know because I have purchased 8 figures worth myself. The silver lining is knowing that a billion or so shares have been purchased in private deals yet the price has not only hung in there but actually appreciated the past 6 months.
We all know the dilution is just about over and I'm very anxious to see how the pps will react when the only way to buy shares will be in the open market.
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Excellent DD. Thank you.
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1.7 million shares traded today is certainly not indicative of anyone knowing anything.
Don't forget we are up from where we were on the day of the open house despite an additional 1 billion shares being authorized.
F18
Yes....but I am not in the least bit worried. There is no way Mark Dotson would allow his 25 year project to be sold in a public auction on June 2nd. He would either A) cut a deal or B) file for Chapter 11 bankruptcy. If B) you will see a court filing by June 2nd. If you don't see one (and I think it highly unlikely you will see one), than you can assume that A) occurred. The only question I have is why wouldn't the company issue a press release?
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I predict June 2nd will come and go w/o a p/r or a forced sale.
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Oh, I realize that. And don't forget about the stock appreciation that will come with predictable revenues/dividends.
F18
I believe MD is a man of his word and he has said he intends on paying a dividend of 75% of profits. I believe that could mean an annual dividend in the .005 to .01 range.
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Earnings per share. The calculation is after-tax income divided by the number of shares outstanding.
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The stock only goes to zero when people stop buying it. It is rather significant that they have sold 1 billion shares in private transactions over the past 6 months and the share price has gone up. The demand for the stock is why the price has not fallen to zero and is why they have been able to finish the plant and invest in the SX/EW.
In the past 6 months, I have purchased 8 figures of those shares and I'm still confident that the true value of this company today is at least $400 million ($.10/share) with the possibility of reaching billions within a few years.
F18
Equally as likely is the possibility that they are resolving the bridge loans and/or financing problems and need shares available for these deals. While the increase is clearly not positive on any level, it does not negate the progress that has been made and the likelihood that the dilution problem will be resolved as they start selling their product. The only number that really matters is EPS which is calculated using issued shares not authorized shares. If they don't produce EPS pretty soon, it won't matter how many shares are authorized or outstanding.
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From there press release it appears to me that they intend to sell concentrate AND produce copper cathodes on site from the tailings. I don't think their process will be exactly like Rio Tinto's.
F18
That is really cool....saved me a trip up the the Kennocott visitor center. I highly recommend everyone watch your video.
F18
Happy Memorial Day to all but especially those who have lost loved ones fighting for our right to have this stock board where we can express our views pro and con, civil and rude, honest and dishonest. Our country isn't perfect but I wouldn't want to live anywhere else.
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Freebird,
I feel the same frustrations about the dilution but there has been big money buying the 1 billion shares issued in the last 6 months. Dispite the 1 billion increse, the share price is up 60% from where it was when we were at 2.5 billion shares.
It is a very fortunate thing that someone was there to buy the 1 billion shares because if they did not, the share price would be much lower and the mill would be nowhere near completed.
Hopefully, we will all be able to look back and realize that the dilution was essential to get the company to the point it is now and hopefully will result in everyone making money.
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Freebird....not trying to be a pain here but IMO it is misleading to say that the 1.5 billion issued to WUCC was dilution because it came with the WUCC assets. IMO, those assets are the ones that have the most value today and I would dare say that CPRK would have had a tough time surviving w/o WUCC bailing them out.
My definition of dilution is when you have a smaller percentage of what you owned before. The WUCC assets expanded the pie.
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7X? At the time WUCC bought CPRK in a reverse merger, there were 2 billion O/S (1.5 billion for WUCC shareholders and 500 million for the cprk shareholders). Now we have, let's say, 3.5 billion O/S shares. Hardly 7X....not even 2X.
Would someone considering an investment in cprk rather see...
1) 2 billion o/s shares.....a partially completed mill......$4/lbs copper price........and a $.12 share price, or
2) 3.5 billion o/s shares.....a completed mill..........$2/lb copper price and a $.017 share price?
I believe #2 presents a much more favorable investment opportunity with substantially less risk.
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I've never trusted the number of investors reported by the TA. I would be very surprised if we didn't have thousands of individuals invested in this stock.
F18
Thanks for the info Morgan Man....Maybe we would all be better served posting our experiences with buy orders at the bid/ask or inbetween......
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Wow....Arnold you are amazing.....Ask now .0168.
Can you ask for me to lose 20 lbs and grow a full head of hair?
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Well said Candy B. Hey I've gotta question for you.....what is your understanding of the next mine they will go after after hidden treasure is all mined out and what mines do you think have the best potential? Thanks.
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Well done Colorado....nice to see some of the crap taken off the wall.
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So true Intel. People can grouse about the share price if they bought higher or they can take advantage of picking up shares for a bargain. I have increased my position 3x since 1-1 and have gone from a loss to a nice gain.
F18