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Coppermill,
The last I checked was a couple of days b4 the CC, & I was told that the financing that was in place in the middle of March, is still there.
I don't know of MD's situation but my understanding is that he is not part or parcel of the financing plan.
As I stated b4, this funding is set for 3 seperate tranches, I don't know whether Altus funding is included within the three tranches tendered.
Remember, JB or MS stated on the CC that they have multiple offers that are on the table.
Step back & look @ this proposition. For any entity to get this amount of financing under a Q status, there has to be tons, literally, of assets that outweigh the current debt or future infrastructure investment(s) required to b CFP.
I also understand the MS & others within the new mgmt structure have sizable positions of stock, however I don't know if those positions are common or preferred stock positions.
There it is; If you are convinced that the assets in the ground outweigh the debt & if the new mgmt team have large positions of common stock & the judge OKs the DIP, then I consider this a stock price will appreciate. IMO
It is my understanding that cprk has @ least 1 LTF offer of $100m that will be issues in 3 seperate tranches. And this is not the Whatley group and not a group from China.
Maybe they have other sincere offers on the table. Whatever, $100m should give them the financial resource to get this venture into a positive cash flow position.
RTR,
$2-$3m is a mere pittance as to what is committed once the STF milestones are achieved.
The milestones are very obvious, get the mill up & producing an acceptable level of concentrate, resolve EPA issues & get that damn stop sign removed.
Once all of the above is accomplished all other issues will fall into place.
It is my understanding that the new mgmt team was acutely aware of the environmental issues b4 undertaking this cprk endeavor & that the planning was underway late last year.
RTR,
Re: STF
What do you think is providing the funds to make the cuurent cprk actions & the future planned actions to achieve the milestones that lead to LTF?
Banlish,
I am quite certain that the "someone" you refer to in paragraph #6 of your post, would not have to go to China for any type of financing, either STF or LTF.
Copperken,
Your points #1 thru #5: yes
Point #6 : unclear @ this point
Point #7: yes
Point #8: unclear @ this point
On point#6, I honestly don't know what MD's current position or situation is w/ cprk & I don't know that MD was "forced out" of cprk
Happy Easter
Copperken,
I don't know settling or flotation tanks from drunk tanks.
& I don't have any information on the concentrate
In regards to personnel, I have no knowledge beyond what has been discussed & verified on this board.
Sorry I can't be of any further help until the STF milestones are achieved.
A happy Easter to all.
Richard,
That transparency is all part & parcel of quartaly reports & compliance that is no doubt high on the new management's agenda
I would say...but somebody would not respect in the morning
I am just a semi retired dude trying to remove the "semi" and replace it w/ a "succesfully" retired dude.
I have been in & out of stocks, IRAs and 401ks for the past 24 yrs
"CM said P/S doesn't require audited financials, but we were going that route, because that's what real companies do. "
ahmen bro.
With a concentrated effort on an IT infrastructure that will provide PS compliance and posture cprk for BB status.
The main near term goal, other than CFP process, is the compliance. cprk needs to get rid of that damn "stop sign". That will significantly limit the shorters.
I agree, NASDAQ has a minimum share price that must be maintained for a given amount of time b4 being listed on their board.
Most of, if not all, institutional buyers have a minimum threshold of $5 per share and some of the bigger boys use a $7 threshold.
If you ever noticed the "name brand" Wall Street Goldmanb Sachs & the like brokerages do IPOs that open btwn $12- $16 per share.
I believe that holds true w/ the people on CNBC, they can not discuss a stock on air that is a sub $5 stock, regardless of what board it trades on.
Even Jim Cramer shys a way from sub $5 stocks on his shows.
The next step is a BB. stock listing.
But 1st things 1st. We need to have the "stop sign" removed.
I could not buy any of cprk thru TD Ameritrade today.
I am once removed from a conversation, where a Geology Prof @ Southern Utah Univ said that CPRK or any other mine drilling operation would find as much gold & silver as copper in SW Utah.
I believe he was projecting dollar worth & not necessarily volume.
Like I said, I am once removed from that conversation. I understand that cprk was doing exploritory drilling this winter.
It all adds up. But this post is an opinon.
shorting will continue by MMs & other entities until the no new trade "stop sign" is removed.
The "stop sign" is the red flag that the shorters go to....like vultures on a dead carcass... lying out in the open..... espicially in the land of the pinks.
I don't know how MD fits into the new mgmt matrix.
I don't have any info on that. Probably a good Q to ask of CAM.
3F,
You are correct, the cprk CoB is now David McMullin.
My bad.
No offense taken.
I don't know of any "final straw" or the like.
Do you really think that anyone facilitating either STF or LTF would not want to "right the ship", (ship being cprk) without any changes that this board has been calling for during the past few months?
I have done my personal DD on cprk in regards to the plausible axiom to mine resources in SW Utah based on stated mill capacity & stated amounts of core samples.
As to the personnel that it has or requires, I am no more qualified to judge or predict any better than any others on this board.
I have no comment as to any of the employees, past or present, in regards to whom, where or what that they distributed funds.
Simply put, as I stated in my original post, there is new management personnel that is commited to governmental compliance & transparaecy.
You all should lay off of CAM. He is just the guy in the middle and govenmental compliance has a lot to do regarding what information he conveys to the shareholder community.
Compliance is just as big of an issue as is the mill running & the mgmt team in place.
If only a few people can go on line & trade or place order thru brokerages, the MMs & other entities shorting cprk have a wonderful field to continue their practices.
Sorry, this is my last post for today. Watch for news on a forthcoming PR.
Thee Fox
Not a chance. But I do know it is solid info.
Like Wolfman Jack used to say; "if I'm lying...I'm dying"
I have a very limited # of posts on this board. So check it out on Monday & I am sure it will be verified.
The Fox
I have been following this thread for approx 6 months.
There are a couple of things that I can contribute that should be good news to the members that are long on cprk.
1st of all the P/E ratio avg for industrial metals is: in the upper 30s. refer to this link http://biz.yahoo.com/ic/133.html
2nd: there are changes in mgmt @ cprk. Marcus Southworth is now the acting CEO. Davis Mccallum is now the COB. Eric Barlow is now the Secretary.
The mgmt & Board are commited improve corp governance & governmental compliance.
The Board is activly looking for qualified candidates to permantly fill upper mgmt positions
There is STF over the next 90 days w/ milestones attached that lead to LTF.
Thats all I have.
I believe that the most credible Posters are "empire" & "candy B"