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Webtime - Agree.
Its a dog eat dog world.
Nobody is going to help the shareholders in a bankruptcy out of the goodness of their heart.
Its all about making money into the future - whatever they have to do, the will do it.
Honoring old shares means they cannot generate new money from new shares - no chance of that.
Greed reigns & greed rules..............
To make money on these big percentage swings - you have to have "big balls" or you have to be stupid & lucky - one of the two.
The problem with daytrading a penny stock (lets say at 0.0004/sh to 0.0006/sh range)- to buy it you have to put the purchase order in most likely at 0.0005/sh to get the order executed, and to sell it at say 0.0006, you have to put the sell order in at 0.0005/sh to get the order executed.
The orders just dont go through at the current listed price - you usually have to raise the purchase price & lower the selling price to get the order executed - thus killing most of the profits if not all the profits.
Anybody who is claiming to be "hitting" these 33% jumps up & down is most likely "not comin' clean" on the trading activity :)
I agree with Webtime - There is some hope to recoup some lost cash, but I think its pretty much game over. CPRK is in too much debt, too many people are going to come knocking on the door for their money. I think the shareholders are the last persons to get a peice of the pie & by that time - the pie is gone. The lawyers & accountants are going to come in like vultures & run up the legal bills. Not sure who would provide financing for this company??
Chapter 11 of the U.S. Bankruptcy Code permits the establishment of a shareholders committee to represent the interests of those individuals that own stock in a corporation. The committee is vested with the right to participate in hearings and other proceedings during the bankruptcy case. \
What happens in Chapter 11?? It depends. Sometimes after a reorganization, a company will issue new stock that is considered different from the pre-reorganization stock. If this occurs, investors will need to know whether the company has given its shareholders the opportunity to exchange the old stock for new stock, because the old stock will usually be considered useless when the new stock is issued.
http://www.investopedia.com/ask/answers/06/chapter11stocksbonds.asp
http://www.ehow.com/about_6402357_happens-shareholders-chapter-11-bankruptcy_.html
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/15/AR2009061502810.html
The ship is sinking fast.
Who cares if the common stockholders get anything - the PPS is sinking towards zero now.
CPRK common shares are virtually worthless - there will be nothing left to distribute.
The Milford Miracle is dead.
Game Over...............
Johny 4 - I think your right.
The shares will become worthless.
Any money left is to pay off creditors, workers or to reorganize the "new CPRK" etc....
You can bet that the common shareholder will walk away with peanuts.
CPRK reorganizes & issues all new shares & its like nothing happened - business as usual for the new CPRK. Except thousands of people lose a ton of money.
CPRK could not produce copper before, they wont be able to do it again under reorganization. The lawsuits are still there & the problems with the mill & processing the minerals are still there.
CPRK is a loser............stay away from the new company :)
Sorry for all of us.
Glad I got out over the last few weeks & yesterday.
I could feel it coming a few weeks ago.
Whoever told everybody yesterday "the lights are off, the electricity has been turned off & nobody is answering the phones" - thanks :)
When the electricity is turned off - Its game over.
Good Luck in the future everybody.
"Since I don’t believe that the Mill will be operating I would have to discourage planning to do anything in Milford related to our Company."
Thats all I need to hear..........
Copper Gold has left the building.
Good Luck you guys - I just cant see owning this stock anymore.
I've been selling my shares over the past few weeks & dumped the rest today.
Too many months of bad news, no copper production, no revenue, too many lawsuits, too much debt, the electricity & water turned off, nobody answering the phone/e-mails etc......way too many uncertainties in an uncertain economic world. Corporations with there act together & money on the balance sheet are having problems making it, CPRK I have to conclude is in big trouble. CPRK has no money on the balance sheet & billions of $$$$ in the ground. The problem is - money in the ground fails to pay the bills.........and they have a lot of bills.
Once again - good luck everybody - I hope for alls sake that CPRK doe's succeed into the future.
One of the problems is U.S. banks dont want to lend money to risky small businesses when they can invest it in U.S. treasuries at a guaranteed profit. Big Gov bails out the banks, the banks in turn buy U.S. treasuries, then leverage the free bail-out money at 10X on bank credit to gamble in the stock market.
The bailout money was supposed to be used to help small businesses & lend to consumers, but it aint workin' out that way. Consumer lending is at an all time historic low, issuance of U.S. Treasury bonds is at an all time high, the national debt is at an all time high & small businesses & the average middle class consumer is barely making it.
USA is a tough neighborhood now - lotsa' corruption like we used to see only in 3rd world countries :)
http://www.businessinsider.com/henry-blodget-wall-street-2010-5
CPRK - turn the lights back on & pull some precious metals out of the ground. You seen the price of gold lately??? Silver??? C'mon - are you kidding me???? Call Warren Buffet or China - secure a loan, do whatever it takes..............
CPRK down 15% - That's considered a good day around here these days.
HOOT!!!
Thats the roblem with penny stocks that are non-reporting etc....
98% of the people get no information at all.
2% of the people get inside information.
This accounts for why stocks move on no information sometimes - because sometimes its inside information.
This could be just a hedge fund or something running it up from past bottoms.
Hopefully they keep running it up.
Ladie & Gents - are you kidding me???
Whats going on with CPRK.
Just walked in the door & its up 65% :))
They get the mill started or what????
Qwerty - agree.
I bought 1 million today at 0.0020/sh.
If you believe in the company, today was a good day to buy.
If CPRK drops further, you wait a bit longer & buy more at say 0.0014.
You buy in small lots as the PPS drops, and you sell some shares on days when it bounces up 15-20%+, but always holding a core long position of shares for the day this stock really moves up. If CPRK goe's BK - then your out the money - thats what speculative penny stocks are all about, you either get rich or you lose it all.
If somebody is selling now - you have given up on the company. No point in selling today at a huge loss & then buying more later. Once you give up on a company (sell at a big loss) - its just better to stay out completely & move to another stock.
I'll buy some more at maybe 0.0014/sh :)
What do you think Obama - is that a good price???
I'm just watching - not very often.
Not much to watch anymore.
CPRK is like watching a boulder in your yard - it never moves from the spot its been placed at, but it slowly sinks a little more each week (almost unnoticeably).
I keep thinking of past posts from people that said - CPRK rocks 24/7???
At least all my other stocks are booming - CPRK is 100% completely missing the global recovery. I think by the time they get the mill producing copper that can be sold on the open market at currently rising prices, the next recession will be upon us.
Obama - I have to agree.
So far its the Milford Tragedy instead of the Milford Miracle.
The only thing amazing so far is how many outstanding shares the company has & how far the stock has dropped.
Things can change - it aint over until the fat lady sings & hopefully the fat lady is not tuning up her microphone :)
Brokerages & investment banks may not fool around buying/shorting stocks under 5/share, but hedge funds get into a little bit of everything.
I wonder what CPRK has got done today on that list of like 25 things to do?????
Hopefully they are working tirelessly on knocking that list down & getting that mill running up to spec.
A copper mine without a running mill is like a jet airliner without a pilot.
Lets turn the lights back on in that mill, dust off the equipment & get some copper movin' down the highway or preferrably railway with fully loaded railcars. Then we can fill the railcar up with cash & ship it back to Utah :))))
Percentages can be tricky:
Lets say you own 10,000 shares of LVS bought at 100/sh & 10,000 shares of LVS bought at 2/sh. - so 20,000 shares total.
Lets say Las Vegas Sands drops from 100/sh to 2/share (which it did) - thats a 98% loss. A person who experienced this drop lost 98% of his money (poor him/her).
Lets say Las Vegas Sands rises from 2/share to 24/share (which it did) - thats a 1200% gain. A person who experienced this rise made 1200% on his money.
Is the person even close to breaking even???? Answer is a big NO. The person is not even close to breaking even. This person needs Las Vegas Sands to rise back to $51/sh with 20,000 shares to break even - thats another 1350% gain on those shares required to break even.
So on a 98% loss with 10,000 shares, it requires a 2550% upside move with 20,000 shares to get your money back.
Stocks rise out of the hole a lot quicker when the PPS is low than they do farther down the road. CPRK stock could rise thousands of % points out of this 0.0030 per share hole very fast if they start producing copper & pay off some debt & operations expense with bank financing. The problem is the share dillution factor - way too many shares were dumped on the market by CPRK in the last year which will greatly slow down the rise in PPS out of this current hole.
Hopefully they start producing some copper soon :)
Happy Easter to everybody :)
I think we should all drive out to Milford Utah, armed with shovels, pitch forks & wheelbarrels & start diggin' up some good old fashioned Copper.
Maybe we will find the biggest diamond ever seen & the stock will hit 10 cents/share overnight.
Blood, sweat & team work :)
I was thinking the same thing when I was writing earlier.
If the global economy continues to improve, commodity prices such as oil, nat gas, lumber, copper, other metals etc.... will only increase in price along with it. Global demand vs. Global Supply + commodities option traders manipulating the prices (up or down) dictate where the price of a commodity goe's.......so it could actually benefit CPRK in the long run to produce as much of their copper as they can at higher prices.
However, in the short term, they gotta get "at least some" revenue rolling at current copper prices to secure the STF/LTF financing, payoff the monthly burn rate for operations & acheive some debt paydown, to attract investors back into the ballgame.
It must be a pain in the rear right now for management to be juggling all these variables.
Johny4profits - your exactly right - nice post.
CPRK doe's have incredible potential as evidenced by everything your post said, plus the 80 years or so of copper in the ground - and that is why I am here today as an investor :)
Somebody could put their money into a large cap stock like Apple or Freeport Mac but the upside is limited now, these stocks are already discovered & everybody + their lap-dog already owns them. The problem with the gains in all the NYSE & NASDAQ stocks over the past year is that - most people took a huge hit on the way down, what they are getting back now is a percentage of what they already lost in 2008 & early 2009.
Like you say - CPRK is a little known miner & sooner or later the greed of the market will reverse the downside to the upside, as long as the copper starts coming out of the ground.
Hopefully the CPRK management team wont have too many more problems to deal with ASAP. I understand that the management team & the company need time to get everything "straight" but the constant problems & crises is getting to be an old story. Its time to get it right & start producing some copper as the price of copper is rising. CPRK is missing the boat it seems, still living in the "depths & dungeons" of the recession while many companies are emerging from the recession.
I think CPRK stock is down like 90 - 95% or something in the last year & people are still afraid to buy it - thats not exactly what I call "a good thing" :)
More patience is needed (as usual). My patience is like the stock market, some days it goe's up, some days it goe's down.
Forgot to post the paper :)
ad-hoc-news.de/.../de/Unternehmensnachrichten/21159450
Interesting Paper on Copper Extraction/Waste Materials
http://www.epa.gov/osw/nonhaz/industrial/special/mining/techdocs/copper/copper1b.pdf
One thing you guys have to understand is that when a company replaces the CEO or some other upper management positions - this is usually not takin' very well in the short term by investors & Wall Street. Replacing the CEO means the old CEO was not doing his job very well & the company is most likely having financial problems - and yes - CPRK is having some financial problems right now.
However, in time, when the new CEO produces measurable results & finishes the jobs that need to be done to make the company profitable - then the stock takes off.
Replacing the CEO generally has a negative short term effect because it produces a lot of uncertainties in the company. Time will tell if the new CEO can turn things around - I think they are heading in the right direction though. You cannot re-build a city destroyed by a tsunami in a few days/months - same applies to CPRK.
PATIENCE is needed here. I'm not famous for being patient but I understand that patience is needed with an investment like CPRK.
I'm a trader & there is nothing I'd rather see than CPRK shoot up 1000% overnight, but its gonna take some more time :)
CPRK a Scam?? No way.
CPRK is just getting started. Like somebody said (CPRK is like a new company now) - with the new management team, timely & accurate PR updates (hopefully), the new equipment, the new financials organization/visibility into the future, potential pink sheet compliance etc....
The problem now is getting the equipment to produce copper at optimal & sustainable levels, the ST/LT financing & debt paydown.
Investing in a debt burdoned speculative mining company is risky & it takes time to produce the desired outputs of minerals & stock PPS. When you invest in a miner, your risking the money on the comanies ability to pull the metals etc..out of the ground. Anything goe's wrong in the process & the stock gets "hit". The alternative is to invest in the metals themselves on the commodities exchanges (the metals are already out of the ground)so your basically gambling on the price of say copper, gold silver rising or falling on the world commodity exchanges (risky also). Just look at the price of crude oil from 2007-2010, everybody thought oil was going to $200/barrel, instead it plunged to $40/barrel.
The difference is that the commodity has already been discovered & gambled upon for decades on the commodities exchanges (no hidden Gem here). CPRK has not been discovered yet by the masses of investors & its PPS shows it. CPRK is a potential hidden Gem that could make us all rich in the future with some patience (it could also fail, you never know). You invest in Copper, silver, gold, or a large miner like BHP or FCX and they have already been discovered with little potential new upside relative to CPRK's potential upside.
So a person has to figure out what they want out of an investment.
1. Risk with a lot of future potential upside, or........
2. Predictability with a much smaller future potential upside.
Big problem - the mill not running.
I believe CPRK's long term financing is conditional on them meeting certain production quotas. With the mill shutdown again............
Its kind of like United Airlines coming out & saying all flights are grounded until we figure out whats wrong & then watching UAUA drop 20% in 1 hour of trading.
At least its holding 0.0030's
Removal of the stop trading sign, long term financing, confirmation that shares wont be dilluted further, & pink sheet compliance - then CPRK is good to go up.
Obama has a point - if CPRK continues to have to pay down debt & finance daily operations with dillution shares, the PPS will go nowhere but down. I dont know what the structure of the shares at CPRK is anymore, its about as confusing as anything in the world and I'm not sure what the companies intentions are about further dillution etc...but what I do know is that no big money investors will buy & hold this stock if it has the potential to be dilluted further.
The bottom line is - CPRK has to complete the financing, short term financing, long term financing - whatever - but they need to get this done as soon as possible for any serious investors to want to get into CPRK & seriously hold the stock. Right now CPRK is just a daytraders "toy" for manipulating the PPS up 20%, then down 20%, then up 10%, then down 15%, then............on & on.
You almost have to trade this stock on the side.
If you dont, 20% of your gains can be wiped out in 1 day (like today).
Kind of rediculous that a company can lose 20% of its value (on paper) in 7.5 hours of trading, but it is what it is :)
Sleep - true statement.
Whoever is investing in & trading CPRK is going to take profits at times (including myself). The stock market is all about gambling in the short term (big time gambling, thats why billions of shares trade all over the world on a daily basis) & all about investing in the long term. If CPRK proves to produce a large amount of copper, iron ore etc...into the long term future, the production & revenue numbers will over-take any dillution, shorting, selling etc...thats happening in the short run.
The market is a game on a daily basis, but you have to have a long term plan to win the game in the long run and that means holding some shares for years & being patient. Just look at the positive things that have happened in the last few days, these developements happened behind the scenes over months, just imagine what they might be able to do over "years" :)
Yes - so what, people can say anything like that.
What people do & what they say they do can be 2 different things.
I can come on here & say: "Hi everybody, I've been following this stock for 2 years, I've successfully traded CPRK 3 times in the 0.01-0.02 range & now I just decided to load up 50 million shares at 0.0018 over the last 4 trading days. I've wanted to buy more shares sooner than this, but I waited patiently for the big drop because I knew it was coming & I knew that 0.0055 would not be the bottom.
How can somebody know that??? Its a pink sheet stock with a shares structure, short interest ratio, & dillution factor that is about as hard to figure out as anything in the world & changes drastically by the day.
But whatever - I hope for your sake that you where this lucky & skillfull.
Well - he is just a little unbelievable.
I've traded stocks for 15-20 years & I know its virtually impossible to catch a bottom so frequently. Also, I know that anytime a trader always seems to be buying low & selling high on every trade, seemingly never experiencing a loss, the story is probably all made up. Also, I know that if you have cash on the sidelines and you are following a stock every day, the urge to buy will hit you & that means buying the stock on the drop at some point and CPRK had a lot of drop points where people where buying in thinking it was a bottom (from 0.01 all the way down to 0.0013). His patience must be amazing and at some elevated spiritual level well beyond the rest of us :)))
I caught a bottom in Las Vegas Sands in March 2009 with 20,000 shares & I still own all the shares right now - but I only got those shares after failing somewhat miserably (but not too bad) like 4 or 5 times as the stock was plummeting from late 2008 into early 2009.
But who knows - maybe he is "coming clean" on his trading activity & then again maybe he's not.
Things are looking a lot better now.
Hopefully CPRK hits a few viens of gold & silver along the way & maybe even strikes oil - we could form a CPRK subsidiary company called Oil King drilling Corporation :)