Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
http://www.bloomberg.com/news/2012-06-06/china-23-billion-steel-push-seen-igniting-iron-ore-commodities.html
Apparently the demand for iron ore is going to rise along with prices!
Many are saying proof has to be pr'd by the company.
Since you didn't think I could provide proof that any trucking had taken place by CWRN, maybe this information provided in an earlier PR will suffice.
CWRN: "Revenues Distributed, 2nd Bulk Shipment Close"
If this doesn't work as a link it's easy to find under more CWRN news.
The PR will show $356000. was paid to the trucking firm listed. If you look this information is provided in the post previous to this one by micro!
But you are right some don't think!
Actually that information was provided in a much earlier PR. It even stated the amount that was paid to the trucking company.
Just to clarify you are saying CWRN ore has been shipped 2 times (3 now but we will await the proof).
You are NOT providing any proof that anyone other than CWRN has provided iron ore to be shipped out of Ensanada?
Then it should be pretty easy to provide a link for a shipment of ore showing the date and time it was shipped -- if it has happened!
That's BS and simply a matter of semantics! But that's the only way to dispute my point! It's still ore provided by CWRN!
Should I rephrase the question? Has anyone other than CWRN provided ore that has been shipped out of the port of Ensanada
I've asked THIS question a few times but have not gotten any links.
Can you show me a link that says ANY company other than CWRN has shipped iron ore out of Ensanada?
It has already been shown that CWRN has shipped out of this port.
And you have "seen' him bettering himself how?
Janice- Are you surprised by the action? I'm pretty much thinking it is what was expected by most here on both sides. What else could have taken place other than the BS call by some here that Bob was on the run.
Completed the first order of business getting the current shipment out and then appeared in court to begin dealing with the legal issues. Was there a different scenario that should have played out in your opinion?
Just guessing, but I believe the pace of things will pick up in the near future.
Micro- I'll be able to do some reference work tonight. I'll try to cross reference things then and see what i can come up with.
I've been looking at the port facilities also micro. This one appears to have pretty much everything. The port is divided into many divided ports depending on type of shipment.
It is also a major rail hub for dispersing all types of cargo and passengers using the port.
You wouldn't mind providing a link to other iron ore shipments would you?
I don't mind being wrong once in a while. It's good for the learning process! Just like the mistakes I mentioned with my trades!
Still won't make me cheer for negative things to happen.
Now for the original point that started this whole thing. Don't you believe that ore belonged to CWRN/Pan AM Don't you believe they made money selling it?
It's all a matter of timing- everything I have bought and sold has been at a profit! It's easy to see from my history. If you buy at .0018 this has been a good ride even if I haven't made all the right moves.
Unlike your example, even a halt wouldn't take me negative!
BUT FOR SOME SEEMINGLY STRANGE REASON I WON"T CHEER FOR THAT TO HAPPEN!
I hope everyone here makes money! Just a positive thought I guess!
Have you found that link to the others shipping yet?
I'm sure you are right and they are actually losing money on every shipment. Good thinking!
I have already stated in previous posts I believe early shipments won't be as profitable as later ones due to the costs associated with removing over burden.
That won't be the case for long IMO.
Much of the money generated is also going to pay for all the equipment that is showing up at the mine.
I don't expect the share price to rise for a while until they are shipping quicker. I have no problem with that.
That was my point! If it was sold, the whole chapter 11 theory wouldn't make much sense would it? We already have the money is what you are trying to argue is a bad thing? WOW
Maybe you could point out or provide a link showing any other mines in the are that have shipped out of Ensanada?
Remember the mine close to CWRNs shut down!
Quote
It has nothing to do with us at this point.
I guess that would shoot the whole chapter 11 theory in the a@@ wouldn't it.
As far as the port goes, I'm sure you read the PR from the first shipment stating there had never been a shipment out of that port before CWRNs first.
But you are right it is CRAZY
Have you ever seen any other company ship iron ore out of that port yet?
If I'm not mistaken I believe Pan AM/ CWRN is still the only one that has shipped iron ore out of this port!
Chapter 11? Things may happen but at least pick one that makes sense LOL
I think revenue from that really big boat loading last weekend eliminates chapter 11
You can't believe those that said last week was a buying opportunity?
My mistake, I thought it bounced 400% from the low. You're right why would anyone think 400% return in a week is good.
Those ideas and the actions taking place don't really go together. The sec stuff was from two years ago. (at least what we know) Everything at the mine is accelerating now! Those ideas are going in the opposite directions right now.
Rocket- I heard you and grajekk might be taking over. I'm guessing we'd actually have a live feed from the mine. LOL
How could we ever see .01? Very easily IMO. In case you haven't noticed the pace of things at the mine have picked up substantially.
Increasing shipments to one a month or even one every two months would help the share price considerably.
Nothing is being glossed over on my part. I would love to have a lot more answers. What would happen if Bob steps down is totally a guess. No one knows who would take his place at this point.
First of all where do you see me defending anyone?
Second everyone here has seen how our court system works. The charges are from more than two years ago. Any proceedings could take at least as long.
I'm hoping the proceedings help bring many things we have all been waiting for out in the open! I post positive because I actually own shares and understand negative comments day after day would really do no good to support MY cause!
Any prosecution will most likely drag on for a long time. By then this company should be far ahead of where they are now. I don't think anyone on a message board would qualify as judge or jury. Thank God!
Janice- lets consider some of the very arguments all those opposed to this company make and then decide if ANYTHING offered outside the realm of a company issued PR is "material"
Not one of you including lucky,bankshot,surebob,or many others would consider any information offered by a non reporting pink in any manner to be "material information" which would cause you to invest.
None of you believe the people in pictures work for BAO, As bankshot adamantly stated today if there is no reported buyer it didn't happen, without proof of a relationship with Pan Am CWRN has no stake in the mine etc etc.
How can ANY information be considered material if such seasoned traders don't believe any of it?
Seems to me you can't argue both sides of the coin. All the posts on this board by the seasoned investors would in fact be proof that no believable material information exists as presented!
Those are the arguments that most are making here aren't they?
The port has a public manifest that tells who is shipping when and where. the mine is available to anyone that wants to visit. How is any of this inside information when it is available to the public?
The pictures that have been posted do a pretty good job of showing BOTH of the stockpiles at the port! (including the one being loaded) Take a minute and check posts from Rocket and I'm sure you'll find them. (not that you care to)
I think you need to update that to haven't shipped for what maybe a few hours. LOL
John - I don't think that will be happening any time soon. (it would be nice) I think the most important thing for the moment would be continuous shipments.
If shipments become continuous finances would start to look very good when filed! I agree a little with one of the negative posters here that the margin on early shipments won't be as profitable as later shipments due to the costs removing over burden. As the ore body is more completely exposed, profit per man hour/ equipment hour should go up significantly.
We can all see the benefit of adding new equipment as soon as possible! Things are changing a lot faster now!
Or worse yet knows everything about mining in mexico--- except for the fact that ore IS leaving the country!
Kubi- You make a great point that some others here try to distort. This mine has only been in operation for a very short time. The results over the last year have been steadily improving.
To another point that has been argued-- all the mountains of ore that has been claimed are of course under a great amount of over burden, DUH! I'm just guessing, but if they weren't someone else would have mined this property long ago. I'm guessing a sonar picture (example) would show a mountain of ore extending downward.
Maybe that has something to do with the difference in the price of ore now vs previous years.
To anyone suggesting pictures could be inside information--- something that is visible to outsiders is public information as soon as it exists. Otherwise a picture taken from a plane or a boat would be inside information. It isn't because it is information that is available to the general public. (although it may not be easy to obtain) Even pictures taken inside a building would not be inside information if the general public has access to the building.(Even if only through guided tours)
Marcelino- thanks for the link! Maybe now we at least know why Bao has been out shopping for iron ore suppliers. If CWRN is part of their plans, things could get very interesting!
Hey E- thanks for finally posting that! You know how bad I wanted to do it myself after you sent it to me but I knew you would find the right time for it.
The part that can't be disputed by ANYONE is the fact that BHP determined their buyout price in 2009 at $1.27 a tonne. Even the most die hard critics on this board would have trouble criticizing BHPs DD. What was the price of ore back then vs demand?
That's about as solid of a floor as can be established in this industry!
It can work in quite a few different areas. I have already discussed an application for cleaning up oil spills with Riggs! If they can reclaim anywhere near the percent they have shown in tests can you imagine how much the technology could minimize the damage from an oil spill.
Equipment and designs are already being worked on.
Some here will down play anything OO does. Others will work to expand the opportunities.
Garyst I agree with you but I think there is also another underlying factor. When the share price starts out lower, the share volume is so much larger that it creates an additional psychological push. Everyone can buy a large number of shares. That volume says wow look at all the buying. It's easy for anyone to support the push.
When shares go over $1, how many people can spend 50000 to make what looks like a sizable trade? Even 50000 vs 5000000 doesn't translate well to most.
The other benefit of the volume illusion is that everyone has confidence they can sell x number of shares without crashing the price. Trades can easily be made in and out creating additional volume.
JMO
I recently posted part of the Mexican Mining law that explained the purpose of Trusts. As you have seen in past PRs Pan Am is a trust formed by CWRN.
Maybe you would like to argue the Mexican Law is incorrect.
Why would Bob need a loan? It looks to me like he is adding equipment regularly with no problems at all.
Maybe it's called BAO First National Bank. Apparently they have very informed loan officers! LOL
Another section from the Mexican mining law that has been misrepresented by some. It has been said the tax rate is 45% due to corporate tax + a 10% tax on dividends that must be paid.
Maybe it's been changed and I haven't read the update yet but according to this section of the law not only is there no mandate to pay any dividend, but the tax is then a withholding from any dividend paid. It is not a payment that comes from the company but rather from the individual that receives the dividend!
Originally no tax was paid on post tax dividends.
These numbers had been misrepresented to down play any profits CWRN might have.
From the mining law
5.1. Income tax
All residents of Mexico and Mexican corporations must pay income tax, until the end of 1998 at a rate of 34% on profits (total income less allowed deductions). As a result of the severe drop in oil prices during that year, and since oil revenues represent a major source of income to the Mexican government, due to budgetary considerations that rate was increased to 35% in 1999, with some adjustments making the effective rate somewhat lower. Again up to the end of 1998, dividends paid from profits that had already been taxed at the corporate level were no taxable. Starting in 1999, a withholding tax with an effective rate of 7.6925% was imposed on dividends paid to Mexican individuals and to all foreigners.
JohnCM- there were some that doubted whether or not the Mexican subsidiary was needed. If anyone reads the the following passage from the Mexican mining law, you can see why it was formed.
3.8. Foreign ownership
As explained above, the Constitution allows Mexican and foreign individuals and Mexican companies to hold mining concessions. Foreign companies are thus unable to be concessionaires. However, all recent mining laws have also prevented foreign individuals from holding concessions, based upon the fact that the wording of Article 27 of the Constitution makes it discretionary to grant concession rights to such foreign individuals. Participation of foreigners in Mexican mining is therefore carried out through Mexican companies. In this regard, starting in 1961 foreigners were restricted to owning no more than 49% of the shares of Mexican mining companies, making Mexico quite unattractive for foreign investment. The regulations of the mining law of 1990 allowed foreigners to indirectly hold the remaining 51% of the shares through the establishment of trusts, spurring a boom in foreign exploration investment. When enacted in 1992, the Law put no restrictions other than complying with the Foreign Investment Law, which in 1993 allowed full foreign investment in mining, always through Mexican companies.
Amendments to the Foreign Investment Law published on December 24, 1996 made it legally possible for "foreigners" to hold mining concessions (prior acceptance of the Calvo Clause, mentioned in (2) above), regardless of the provisions of the Law denying them said right.11 There is disagreement, however, on whether "foreigners" means only foreign individuals, or if the term includes foreign companies. The Mexican foreign investment authorities take the position that it includes both, but a correct interpretation of Article 27 of the Constitution leads one to conclude that such position is mistaken, for reasons that go beyond the scope of this article. The discussion is somewhat academic, because the Regulations (issued, as stated above, by the President in 1999), in the exercise of the executive's constitutionally allowed discretion to grant concessions to foreigners, continue to bar all foreigners from directly obtaining mining concessions.
As anyone can see, even the trusts such as those formed by CWRN are clearly mentioned in the law!
Getmoreshares- recognize you from another board. If you would like a complete lowdown on everything I know regarding this stock send me a pm or get my information from rocket or grajekk. I think I can give you some straight forward information. Then you have to draw your own conclusions.