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I hate not reading the next post before posting my question. I agree with 3 months for this reporting! End of year or just before.
I listened to the radio show and read your post. I am still confused on the timeline for Pink Sheet reporting and transparency. I see 10 days, but I thought after internal review and audit, CM said if they accomplished this by end of the year, he was happy???
Good questions, I sent 7.
Concentrate
Up front payment
Lawsuit
LT financing
Stock manipulation
Management
Pink sheet compliance
Thanks Fairways18!
1) 1st sale of concentrate - 2-4 weeks
You visited the mill on the 15th right? So, is your 2-4 weeks starting from that visit? Just want to understand someone's POV who saw it first hand.
2) Upfront payment - Yes
I am very hopeful this is in the contract as I have been led to believe that this type of arrangement is common practice.
3) PPS on July 31 - Don't know. Don't care.
I don't really either, but my timing has been pretty awful for large purchases.
4) Greed at .006 - IMO, no. It may go much lower....but it could go much higher very fast. Are you a trader or an investor?
I guess I haven't done a good enough job cheerleading like trueblue...myself as well as my group of investors are definitely LONG on this and no one person I roped into this is a "trader". I would say about half of the investors bought this in their 401K's or IRA's and don't control them.
I like strong chasing of the Bid better than strong selling :). We know that the MMs seem to be willing to come down to whatever you are bidding. Maybe I need to adjust my "greed" meter to .005.
Wow Spark! Welcome to the forum with probably the single most straightforward response to ABH I have seen.
Devil's advocate is his gig, but in the end, he's pro CPRK....maybe!
Thanks for the straightforward, no BS view!
What is your take on the following:
- How long until the announcement of the first sale of concentrate?
- Will that PR include "up front" payment?
- Where will the pps be on July 31st as shorters try to cover monthly positions?
- What pps is simply greed to wait for... .006?
I am trying to figure out when to buy my last, last ditch effort. I am buying this one in my Roth to avoid the taxes! (It's amazing to think of CPRK-Trader's 4.4M @ .0088 w/out taxes!)
Thank you in advance to anyone who responds.
Wow bud, I am very jealous of the insight you had to be around CPRK for a long time and somehow end up with a sub dollar avg, that is awesome!!
So unfortunately for you, you will probably be the only one who can actually buy an island. So, this is where the Millionaire's club is so far:
CPRK-Trader - Taking care of the island
VVV - Taking care of yacht to get us out there
ABH - Tiki Bar w/ unlimited umbrella drinks for life
We are still looking for someone to cover the tiki houses, a fresh water pool, a self sustaining stream of fresh seafood and vegetables, a golf course, full size fitness center, a city of hammocks, casino, and whatever else I am forgetting.
Given that we have some lower price items to finish off our island, we would like to invite EVERYONE to join the party. Just pick your favorite past time and bring it to the island. But, make sure you declare it at customs so we all know what to look forward to :).
Good morning CPRK'ers, let's have a great day!!
.10 in August or .10 ever?
By end of August, they should have announced the first concentrate sale, upfront payment meaning positive cash flow, and potentially LT financing through RBS. If those three things hit the wire between now and August 31st, .10 will be in the dust!!
Anyone ever seen a bigger spread???
Bid - .0062
Ask - 2.00
I think someone is crying in their Cheerios!! I wonder how long the MMs can hang on and how much sell pressure they can create with this type of news. I am sure they will do everything in their power to get to the end of the month and cover what they can and then get out!!!
Did everyone love that there wasn't one single negative post after that PR :)! Shorters are in trouble, people who didn't believe are in trouble, everyone but longs are in trouble!!
Hammer you still never answered me...you buying rounds on the island for the first year or were you never a shareholder???
I just hope my .0078 last ditch effort fills before the day is over. If not, i'll try to buy an early dip tomorrow.
Up front payment is what my contact has been saying was built into this agreement. I assume for a discount, but the upfront payment will nullify the 90 day wait period for revenues...hell yeah LONGS, can you feel it!!
Anyone heard if they got the 2nd mill up and running? We need that baby humming to get those first loads out!!!
Did you have to pay a trade fee on that?
***UPDATE: Saw your post about your commissions paid...please disregard. Wish I could delete this instead of just edit it!***
The future Hammer...not today or tomorrow! I realize there isn't much to celebrate over the last 30 days.
Congrats Parson on joining the 1M share club! I wonder how many of us there are? I think the 1M club should get together and buy an island...you in?
Hammer - if you are one of us, you're buying rounds for the first year for putting us through the web of negativity!!!
Do you think there will be a pps if it takes that long?
I wish my wife would allow me to chase the Bid down with you and Farm. Congrats on getting more shares at these prices. I can't believe it's a 15 bagger at .10!! What a deal!!
Dent1,
You might want to wait a few more days.
Couple Guesstimates:
- If you look at the past two PR's, they were about 2 weeks apart and each time created a very short term buying period before the mm's were able to turn the tide and create even more selling pressure and low bid chasers.
- If you don't see a PR tomorrow morning, there isn't an every 2 week strategy to get more information out. This could work in your favor or against you, depending on what the MM is doing. However, since they have been taking it lower, that's more than likely the direction until cash flow positive PR. So, you could accumulate more, risking the wait.
- Without a 2 week strategy, MD will wait to publish the next PR when something significant is ready, which has been theorized as anywhere from 2-4 weeks (minus 3 days since claimed). So, you could accumulate more, risking the wait.
- Assuming the 2nd ball mill has been fixed and is running, it will take at least 2-3 weeks to catch up to the load size needed to sell to RBS Sempra. So, you could accumulate more, risking the wait.
I think you understand my timeline on a buy recommendation. Now don't get my wrong, if we weren't putting in new floors, I would put that $5K in at .006. But, since we have as much risked as we want, I will hold tight with my 1.4M at .015/pps average.
Great luck to you in your investment and whenever you pull the trigger. We are w/in weeks of having the news we need to make this a reality. That news will get us our money back, plus some, then we can determine how the rest of the outstanding issues will affect the pps. But, cash flow is #1, then SW/EX, then share buy back, then land claims, then dividends, then retirement :)...can you see the rainbow?
Peace - VVV
I don't get it Hammer, I know you are convinced this board doesn't make a difference in the stock price, only PR does, and then you make this post?????
With no PR, no cash, legal problems, and no viable way to stay afloat, I am perplexed by the stock price increase myself. Maybe trueblue is out there buying that many shares!!
Or, it could be a signal that solid FACTS being represented by investors who take the time to visit the mill and see the value and potential of their investment, are showing the investor confidence that gets hammered on this forum.
Or it could simly be the ETRADE baby just pushing buttons!
That's why you buy in 1/3's, instead of sinking in at one level. true is an eternal optimist, but obviously savvy and saved enough money to average down his pps. he'll make more than any of us if his cost per order isn't too high.
If I remember right, aren't you around .021 pps? If not, sorry for the mistake. But, I can see how higher pps investors feel burned by the recent decline in price. But, with the news you got from oldfart9 and cobre today, how can you not feel like the profit is on the door step??? I am sure if you were one of the first investors, this has been a very painful adventure, but I am rejuvinated by a steady price today and the news we heard.
And Hammer, don't throw out a 200% increase in price like this is a $30/share stock. You know this could jump in a hurry, I mean comeon, you have already witnessed it this year!
Mark has his doubters and I am with you on the lack of transparency. But knowing he is working hard to make this brainchild a reality is enough for me. The reserves in the ground, that he bet his life on, are more than solid and worth a lifetime of riches once they get the mill dialed in.
And before you pick apart "once they"...how do you dismiss this FACT from cobre? "*The concentrate numbers are looking really good, 35-39% copper, gold, and silver. They need 28% to sell to Sempra." If we are exceeding the copper levels, isn't that better than being short and having to find better claims to process? I think adding a little more rock to dilute, if needed, is way easier than raising the copper levels. More copper % = more money!!
I am sure you'll reply with something, so fire away!
Lex-
Thanks for the thoughts and the education as I am not a business owner nor have I ever managed a business that competes in shark infested waters...
...but this is how I see it. Why do mom and pop shops get forced out? Because they don't buy enough volume to reduce their costs enough to compete with Walmart, Sam's Club, Costco, etc. However, CPRK is not playing middle man, they are the supplier. If CPRK can produce concentrate at a lower cost than their competition, who cares if the "shark" is Rio or Kennecott, they have a competitive advantage! The only downside I see is our inability to fill very large orders, now. But, if we can always win the price war, how does being a little guy play against us? Also, having ore that is very copper heavy creates another competitive advantage. Pardon my inexperience, but I assume the ability to raise and lower the percentage of copper in the concentrate and meet the different needs of smelters is an advantage. This comes down to having stronger levels of copper in our land claims, which all mines can't claim. (That last comp. adv. might be a stretch, but you see where I am going.)
As you mentioned in your post, if commodities is all dictated by price, price, price...then we win! (I will try to find some posts that talk about the .90/lb of copper to process, but I am pretty sure I remember reading it in the early investment literature. And since I go to that through the old site, I am not sure if I can find it again.)
I agree that Kennecott (more than likely) would have already made a bid to buy up WUCC in its infancy. But, maybe they bet it would fail, like most other Jr. Mining co's. Who knows, but I agree with you.
So, if large orders is our only problem, we undercut the current ppp since we have cheaper processing costs or sell to someone else who is willing to buy in smaller quantities at the same price. Smaller quantities at the same price are always more attractive so your stockpile is easier to manage. However, shipping costs will be a little higher.
Thoughts?
Lex-
This is my understanding and why your questions don't overly concern me.
ASSUMING the cost structure, reported many times, has not changed, CPRK can process 1 lb of copper for .90. Given that, we have a significant advantage over all the major players due to their size and expense. We would not need to stop mining when the price of copper drops if we can still make a profit at those low prices. When other mines sit idle, CPRK is full steam ahead. Plus, with the higher than expected gold, this just helps cover our costs further. If copper can end up being 100% profit, we'll always be ahead of the competition, just not in volume.
I don't think Kennecott/RIO or any other major player would help out CPRK unless they were earning a profitable payment from extending a hand. This positive relationship might give Kennecott an upper hand in a later purchase down the road. Who knows...
If the supply of copper ever stockpiles enough to drive the price of copper below a 1.00, this investment would be the last of our concerns. The expansion of the world's infrastructure would be in such a hurt locker, we all would be affected personally and monetarily, not just with our investment here.
Peace - VVV
Sorry, my bad, compeletely forgot about that process and that we'd decidicate a ball mill to it. Thanks for answering!
JTF,
When we visited, there were 3 ball mills? What is the status of the 3rd or am I missing something...
Also, is there anyway that auger was the same part I listed in my list of delays? I hope not since they were talking about it November, but great to hear it will be up and running by EOW.
Thanks for reporting jtf's, not pun intended.
Peace - VVV
That's what I am talking about OldFart9, thank you very much!
Now people, I think we can all extrapolate from oldfart9's comments that he/she is even keeled in the emotional department. This is the type of post we needed!
What I take from it:
- Be steadfast in your DD and decision to invest in CPRK.
- Don't read into the pps manipulation and give yourself a coronary, because cash flow positive news is very close and they won't go BK or do an R/S in the next two to four weeks!
- "The magnetite process appears to be working perfectly." This implies confidence in the engineers and faith in their ability to dial in the copper concentrate!
I am not trying to lead a rah rah session here. Positive cash flows are still alluding us. But, this Jr. Mining Company is making strides towards rewarding us all.
Last but not least, A TRIP TO THE MILL REALLY OPENS YOUR EYES!!!! For those of you who are doubters, please don't post negativity until you have seen it with your own eyes and understand the scope and complication associated with becoming a viable copper outfit!!!
Disclaimer: This is not meant to be negative post
When we visited the mill, my impression was "wow" that's a lot of huge moving parts! I didn't think about it at the time because I was a little aw struck (I had never seen a ball mill or anything like it) but, with complicated projects (60M) comes complications and delays.
I was in business consulting for 8 years (some of that programming) and no matter your level of experience or preparation, there are ALWAYS road blocks that hinder delivering on time. What sucks about consulting is that you literally work around the clock to deliver on time, because your reputation is based on it.
My point...finally! Help me finish this list people (cut and paste into a new post and add what I missed so we eventually end up with a full list). The point of this exercise is not to call out the company for delayed delivery of positive cash flows, but try to put in perspective the reasons for the delays and help us gain a better understanding of what has and has not been in CPRK's control. I am not numbering these because they will not be sequential. If anyone knows the approximate or exact dates, please add. I will start from the time I visited the mill.
- 11/08 - Continued delays around getting consistent power from Rock Mountain
- 11/08 - Electricians underestimated the time to wire up the mill, causing delays
- 11/08 - Problems with Toshiba and their equipment
- 11/08 - I remember being told there was a part specifically manufactured for the mill incorrectly and they had to send it back and wait for the manufacturer to rebuild. I can't remember if this was a Toshiba issue or not, but this one was causing frustration during our mill visit
- Winter time conditions cause delays
- Glitches in the concentrate process causes concentrate spills, shutting down the mill for X number of days each time
Ok, so the list didn't turn out quite as I had imagined, but it's a start. Please, someone who has factual dates and more knowledge of the problems than I, help strengthen this list of issues. Feel free to rewrite the list in a more concise, factual way. I was just trying to get one started.
Hope this helps and can stay constructive!
tk-
This is more hearsay, but the person anwering this is closer to the truth than anyone else I know.
Q: How long until we'll know if the tentative agreement with RBS Sempra Metals is full steam ahead? What does it take from CPRK to make it so?
A: I am unnaware of the details of the Sempra agreement, but it seems to be considered a done deal. Also heard that the agreement will allow for getting some of the value ($$) upfront rather than waiting the 90 days after shipping like I have heard is fairly standard. So that would suggest some revenues very shortly.
Once again, take it for what it is. I happen to believe that business is business and it takes time. The PR's have been solid, but not definitive, which makes us by-the-minute penny investors second guessing the validity. I know it's hard, but if you are long, you just have to trust that it will come through. In the next couple weeks, we should see the definitive PR we are all waiting for.
Peace - VVV
With the Bid @ .0066 and no buys/sells since 3:51, we are probably looking at one more attempt to get it down to that number.
Yep, I bet that 250K purchase that went at 3:57 was at .0066. The roller coaster of manipulation is making me sick. Anyone who thinks the sellers are so desperate to get out that they are willing to sell at .0066 when the current pps is .0072 is crazy! Farmboy might be a little farmer, but I agree with him. This is heavy manipulation that will only be solved with cash flow positive news. So, I guess I find myself agreeing with anyone asking for more info. Lord knows we need it soon!!
I only have one more post left after this one today, so this will probably be it. Tomorrow is another day, but the MM's will be hard at it again, so hold on peeps, little turbulence in the flight path!
MD and CM, please...soon!!!
I am confident that if "insiders" are selling off due to knowledge of this going under or not making it, we would be down quite a bit more than 8%?
When I initially called the company to invest, they said I would need to be around $500K to get a great share price. If you calculate that into shares, at .019 at the time I called, big whales like that selling off would have a major impact on pps, way more than 8%.
I agree that things are pretty grim and with each new level we hit, it only makes it harder to stay steadfast. But we have seen these situations time and time again as the pps has falled from .02 over the past month. There isn't anything different about this situation, it just makes it closer to .000. If the company can't reverse the pps decline with cash flow positive statements in the very near term, we're all ....
Sorry to disappoint Hammer, but it's hard to stay active on the board when shares are this cheap! Spending my time buying instead of popping off about how bad things are. You should buy some shares too :).
Thank you Ally, that helps put things in perspective. Not sure why the silence for that price? The next one is hopefully the ONE!
Thanks Willboat!!
Does the + mean that order was executed on the Ask and - means Bid?
Willboat - Sorry to ask again, but can you pull that 10 minute frenzy of buying for us? It would be interesting to see the purchases, how large, and how quick! That is way too much activity at a fairly level price for it not to mean something.
It just proves imo that this stock is being controlled by the MM's. They are loading up and not taking the price down, which is great "guess" that this is the bottom and they are filling up. If they are loading at this level, then maybe they know the short selling is done and they are getting in for the profitable gains we'll see in the coming weeks.
Jebus I hope i'm right!!!! Pebble Beach, Pinehurst #2, etc here I come!!
Well, unfortunately, late in the week is when we see strong sell pressure. Whether it's coming from the dilution reports or MM's or whatever, the high volume won't be positive until we have a few things ironed out. Just buy the dips and trust your gut!
I am really contemplating a weekend trip out to the mill, but can't swing it with all the golf tournaments. Not sure if they are accommodating on the weekends anyway.
Has anyone contemplated calling the Mayor or City Council to get their take on the mill's progress? You know they are probably more antsy than we are. Invested or not, this will be a "boom" for their town when the long term employement is established, it's a win for everyone!!
CandyB - any thoughts on how to get "insight" without going through the company?
Double edged sword...
You can pay a couple grand for a PR, but the last few haven't resulted in sustained gains. Which is really wearing on your soul because you were hoping the gains would hold and further money raising actions would net a larger pool for expenses.
Or, you could pay your bills and release the next PR when you have SOLD your first load of saleable concentrate and finalized the agreement to get paid on the front end, at a discount, instead of waiting the 90 days on the back end. This will significantly bring in more investors and drive up the pps, providing the best bang for the buck.
This is all speculation Hammer, but since I am long and believe in the company, I feel MD is being prudent with his information because he knows the MM's are controlling the pps and if he doesn't have a "knock it out of the park" PR, the pps can't support the news and results ????.
Thanks for your support Ally, I would reply but can't since I am riding the iHub free train :). Do you have an email you use outside the board?
Do you know or does anyone else know what it costs to publish a PR statement? I am sure there are many variables that change price...just looking for a ballpark here.
We did not meet MD, but instead, Walt. I never got a feel from my visit whether they would be more or less forthcoming with information. But, when I was there (Nov. 20, 2008), there were supposed start the soft start a week or so after we toured. Obviously this didn't happen. There have been major delays in getting this up and running. No one questions that. I assume the delays in PR are attributed to MD making sure his PR money is well spent and t's are crossed before doing so. If you owned a business that had to constantly dilute shares to raise money, would you waste money on meaningless PR. No, you would wait until you had something seriuos to report. I feel that's what MD is doing. The next PR will be killer!!