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Wilboat, I agree...!!
On, I spoke to a key company person on this very question and was told the cost will be approx 5%+; they have 3 targeted smelters possibilities; UT, AZ and CA (via truck, rail). I think the chances are AZ for now.
BTW, to add to my post reporting my observations of the grand opening, a question was asked on our tour bus about the size of the area. The response was CPRK/WUCC has approx 100k acres (18 x 8 miles) of land in their control (leased etc) from private owners, BLM, Utah trust lands, etc all receiving a royalty of approx 2% (normal). BTW, CPRK also owns the rights to a massive gold reserve called Drum Mountain that looks very promising. CPRK is only mining, core drilling approx 5000 acres right now and finding incredible, above industry results. The follow up question was, with so much land will you be able to get to it and would the company consider a "joint venture" with some bigger mining companies and the answer was: we can't get to it all but plan to expand exploration when cash flow kicks in and yes we would consider joint ventures if it makes sense (as evidenced by the Raser announcement). IMO, I believe several "key" mining concerns are watching very closely the developments down in the Milford Minging District. IMO, they are waiting for start up and production results before they....??? ...what?? who knows... btw, they also have future plans to develop an SX-EW processing plant on site. (google for more info) but it will increase efficiency of recovery rate of copper. I also heard future plans are for a leaching process to recover even more (from low grade ore)
There was so much great info gathered at the open house. I'll keep posting bits of info as I recall conversations and my observatons of un-posted items.
jtf
DEAR ABBY, so...what's your point???
I've been thinking this over and have decided to post why you should reconsider selling your shares since you DIDNT make the open house and didn't like the reports so far:
1. Styrofoam plates used for lunch had 5 compartments; not your cheap 3 compartment version
2. Two choices of entrees for lunch; chicken AND beef and you could have both along w multiple drink options coffee and tea (in Utah?), lemonade (definately Utah!!), and of course the ever expensive one, water. How many companies would do that??!!
3. Copper rock samples for FREE!! I thought they'd ask for at least 100 shares back...!!
4. 2 BIG, FULL SIZE yellow school buses used for shuttles to the mill; Thank you Beaver County School District
5. Port-a-potties in good form, clean and a choice of 5; CPRK forward thinking at its best...
6. Lights/power on but mill equipment idle; thank you CPRK for not wasting electricity and saving shareholders money...
7. Latest in spring time mine fashion; zip up reflective orange mesh safety vests. Remember safety first ABBY..
8. Parking attendents directing 300 cars... no tipping allowed.
9. OSHA approved, plastic, commemormative hard hats emblazened w WUCC logo (sorry DGrave, not CPRK!!).
10. Ribbon used for ceremony made of high quality crete paper along with larger than life scissors...
"No, my friend", if these can't convince to stay the course, then please sell and move on..
jtf
Here is a bullet point summary/highlights of my visit to the mill yesterday.
Well worth the trip / organized and very informative; I personally would have called it an Open House Ribbon Cutting Ceremony. They are testing components and are 2-4 weeks from "Grand Opening" depending on bugs... I'm not the bit worried about this. I also agree with the other posts so far...
CPRK's head geologist, Dave Hartshorn, was available for questions and was very enthusiatic on current and future exploration opportunities. When asked about what they are finding or potential of other sites... he just smiles..BIG
Maps, graphs, history, samples and core findings were available on several information tables and company people were happy to provide answers to questions. They have very, very compelling evidence to show MAJOR finds/results from core data
Core finding samples of Road Mine were extremely positive; high grade ore between 100 feet and 200 feet provided 3-8% grades; off the charts by industry standards and they are just "scratching" the surface of the "ocean" of copper in this area. Asked if this area was the most promising and the answer was no... Valley Mine area will be better!! OUCH>
Hundreds of thousands of tons of obvious "mill" ready ore stockpiled everywhere. Will start w approx 2000 tons per day and work up to 5000 will capacity of 6000 but will ave 4000 imo and estimate 340 working days of production per year..
Nice company brochure provided along w video overview shown (nice job Ted!!)
Many VIP's along w "other" companies were present in addtion to some media (Deseret News; article today); county commissioner, Utah State Senator, Head Geologist from the state, along w MSHA who had idled the powered (huge) mill for safety reasons. BTW, Raser Tech deal will be great as they drill down for their stuff it helps us with more core date.
Met new PR / IR contact, Charles A. Moskowitz from Hanover, MA (617) 633-2259 and is available for questions etc. I got the clear impression he's "wired" and knows mm in NY
Economic benefit of prior projects in the area that we will be the beneficiary of (prior drilling, excavation, reports etc) : $100m (from company person)
Company said when they "prove up", drill out 500m tons they will show up on industry radar...I think he said CPRK is around 100m or so just a matter of time for that as in within the next year. However, they are already known by those in the know..
Company still working very hard every day (including yesterday!!)on LT financing in a very, very difficult economic lending environment! Its not a matter of if, but when.
There were no "official" announcements or PR at the ribbon ceremony but very passionate speeches about determination, economic impact and future of this area from county commissioner, state senator and MD. The project is a miracle and everyone was extremely impressed. One of the biggest accomplishments was MD's 20 years of relentless determination to secure mineral rights into a single lease and his vision of future economic impact for the area.
Summary, I'm convinced more than ever that this will be a winner in the long term. They still have some hurdles to cross but these in comparison to what they've overcome under great stress and odds, pale in comparison. For those who bash, dog or otherwise degrade without seeing the project or meeting MD are beyond comment here... glta and I believe we are at the start of an amazing long term project.
jtf
And if it does, what are you going to do?
95,000,000 total shares of which approx 90,000,000 were owned by 3-5 insiders.
jtf
Web, i agree regarding the neccesity of moving to a better exchange to the extent it can be done. However, offically (via a PR last year; Dec I think), the companies position is to improve capital structure, price etc to faciliate a move to a better exchange....anything thing else is just opinion etc.
jtf
So is your post "here-say" too?
Sorry, Hatch is an international engineering firm; http://www.hatch.ca/ The report is not listed there...Company has report....
jtf
I can asssure you its here (at least the people in charge now)... based on hundreds of hours of dd, many site visits and conversations w key people. Whether they can pull it off is still the challenge; it is a major task that is close to a start. IMO, I think they can....BTW, I'll be there on Friday for the first day of the grand opening/ribbon cutting. I look forward to meeting some of you then.
jtf
Dan, I don't need anyone especially you to explain it to me; I'll believe the Hatch report thank you. Their 125 page feasability report showing substantial promise for CPRK/WUCC is all I need.... www.hatch.com in case you're wondering who they are.
jtf
Lots of posts on delivering certs and/or putting in sell at a price much higher to help eliminate shorts... imo it won't help that much. IMO, NSS is the problem and they will do it whether there's shares or not. In fact, they don't have shares to deliver.... that's the problem... all phantom shares... IMO, its happening...
jtf
Agreed, how about 48 hours??
jtf
W, I agree with most of your assessment. However, keep in mind that 75% - 80% of the stock is owned by insiders/key investors. I think it slightly changes the outlook of the stock structure of CPRK as compared to a typical pink stock. jmo.. big time performance is now the only way this stock will rebound. With favorable copper/metal prices and a world economic rebound in the next year or two, they could still pull this off.
jtf
DRJ, if you don't want the company to (dump) sell shares, how do you propose to raise capital and finance the mill until its in production? That's what stock is for.... what's interesting to me is whenever they need to sell shares, someone who's done some very detailed DD is there to buy them.
imo
jtf
One was in August and one was in Oct 2008
jtf
Dan, respectfully, I have asked all those questions and then some (many, many times...); you just don't understand the structure or how this all came to be w the r/m.... THERE IS NO SCAM HERE!!!
jtf
AB's, I promised video of dynamite blasts... here ya go!!
http://www.vimeo.com/3606600
http://vimeo.com/3606791
jtf
Yes, currently being audited right now; my understanding is approx 3-6 months to complete.
jtf
You have 2 options for major airports:
1. SLC Approx 200 miles to Milford
2. LAS VEGAS Approx 225 miles to Milford
The mill / mine is located approx 5-10 miles from Milford heading NW on SR 21.
jtf
Taken by a shareholder in November 2008. I, too, can personally verify through 5 visits that there are trucks, heavy equipment, 70+ employees and an actual mill/mine project there. I also witnessed 2 blasts which I'll post.
http://www.vimeo.com/2157975
http://www.vimeo.com/2159005
jtf
I guess it takes all kinds; BTW< is this the same guy who posted and accused MD of being a convicted criminal and sex offender on another board?? Oh, just happens that the Mark Dotson he was referring to had a different middle initial from his trusty PACER subscription. Dan, even if you're half right you're WRONG... no credibility now pal. Good luck bringing CPRK down....you can't see past your nose. IMO
jtf
My understanding is CPRK has 3 grades of magnetite; the average price is between $10 - $20 per ton. Also, fyi, CPRK is estimating approx 500 - 1000 tons per day at full production
jtf
I don't know; all I know is when I visit the mill (5 times) and ask questions about piles, process and equipment, I learn more and more stuff!!
jtf
One last pic of magnetite work site:
Oh, and btw, here's a pic of the new assay fire lab. The original lab is to the right and the mill is in the background.
Pic of magnetite separator at work:
Picture of the magnetite.
FWIW, CPRK has been in (some) production since Nov 2008; as part of the metal recovery process, they can recover an iron ore - magnetite. They have been recovering this metal from old tailings that are located on the property. Its my understanding that approx 400 tons of magnetite have been shipped by rail to a coal company customer. They will ship another 1200 tons this week alone. I will post pics of this process. Its just a matter of time before we are hitting on all cylinders...
jtf
E, not neccesarily, a r/s doesn't raise money....
Regarding increase of A/S...people they need money right now to complete this project until cash flow can take over and finance the mill... if anyone can tell me a better way to raise money other than increasing the shares, I'm listening?? LT financing? not happening until production! ST loans? done that! bridge loans? done that! pre-sale of concentrate? maybe if we had some to sell.... IT WAS THE ONLY FEASIBLE, LOGICAL OPTION!!! Those who don't like it will move on - good luck and I wish you the best.. (imo, to bail now so close to production is very emotional and short-visioned); those who still see the vision will accept it (imo-I think its temporary). Based on today's price this had a very minimal impact.. the numbers still pencil out w 3B if they produce what they project... that is the ultimate key. oh, and lastly, I believe there is an "entity" that is buying...big time. The trades of yesterday and the last week or so confirm this to me...there are huge blocks of buys; someone is taking a stake in this company right now (even with the increase of A/S)... I wouldn't bet against them...
jtf
Average P/E range varies; 10 on the low side 25 on the high side for well established, seasoned mines. Pink status start up mine could be valued higher imo...
jtf
3f, excellent analysis... only point I might make is I believe the ramp up to 5K- 6k tons will not take a couple of years; imo it will be within the first year.
jtf
Rdg, not that it matters, but I remember a trade at the end of May08 that sure had the appearance of a market order. CPRK was trading around .05 - .06 and then out of the blue a .02 went through. Ironically, right after that CPRK jumped to .13 on the LT financing PR. How did that investor feel!! Just interesting...
jtf
TM, per Gavin W. could you please update his phone # to: 801-333-8686 in the IBox. This new # was in the latest PR and is the best number to reach him. Delete 801-548-2831
jtf
RDG, I couldn't agree more. This is crazy... this volume and up like we are? Proof that the mm are in total (manipulative) control; what a shame... I also wonder if a few on the "other" side are covering...
jtf
W, my understanding is that contract is for actual copper; we will produce concentrate that needs to be refined first at a smeltering facility.
jtf
Agreed..