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About the same as me reposting my 2/2/23 post from last February and it being equally correct for this year, even though I've spoken to no one who's talked to Doug this year.
Oct. 23 Update on website.
https://www.elcapitanpmi.com/october-2023-business-update/
As I privately suspected, the funding that was mentioned as being secured in the last update either was a premature announcement or fell through. So we will wait. Hopefully for not very long this time.
The update was what I would characterize as very good, but since they say it was premature, no way to tell how much was true right now. We may have to wait a few days or we could be back to square one. They are not saying much that I've heard, but I'm not real attuned too what they are doing other than reading a few forums and the website.
Par for the course for this outfit, I've been watching them do this for over 16 years now. Amateurs.
So apparently they posted the info and video publicly too early, and have now taken it all down..... So until further notice this is a big fat "nevermind".
El Capitan Precious Metals, Inc.
Business Updates — 2023
from ECPN Board Chairman Doug Sanders
May 11, 2023
I’m always happy to report good news… and the steps we continue to take to shore up the foundations of our company…
Two updates for today:
We have moved forward with a transition to a new Stock Transfer company… a company that will deliver cutting-edge technology to meet our future needs for communications to Shareholders related to Meeting Notices, Meetings and Elections, and hopefully the disbursement of Dividends. After a good bit of research, we chose a well-regarded national company. The transition process has already begun and we expect it’ll be completed within the next 30 days.
On a related note: I encourage all shareholders to visit the El Capitan Website and register your email and physical mailing address so that our database of shareholders is as robust and accurate as possible. Look for the blue box, bottom left, on the site. Here’s the link: https://www.elcapitanpmi.com/
In our on-going efforts to “clean house” — literally, in this case — I want to report that we have (as reported in 2022) satisfied the delinquent mortgage on the previously privately-owned house and two acres of land located on an ECPN patented Claim. The ownership of that property has now been transferred to our primary operating company, ECPN… which is where we will hold all assets of the company.
It’s very likely I’ll have more to report before the end of the month — and it’s our hope to shift to Weekly Updates as soon as we begin to share news on our joint venture funding (which is progressing nicely) that will open the flood gates of tasks to complete — items that we already have on our “To Do” list — and pave our path to profitability.
Until then, I’ll repeat this mantra:
Keep the faith, think GOLD, and stay tuned for more El Capitan news.
Your El Capitan,
Doug
Sidebar: Whenever I refer to our company as ECPN — our stock symbol — I am referring to the legal entity, El Capitan Precious Metals, Inc.
Absolutely nothing has been going on since November. I have that on good authority. Two years since this new management has taken over, nothing has changed. Will that remain the case, I don't know, but there is a lot of talk for the past 24 months and really no action to monetize this company has happened.
There is no communication as there is nothing to say. Nobody is working to get anything done. I hope that changes but how many years do you go without questioning the management.
New update has been released. It can be viewed at the company website here.
It only works if they can start production. Enough with the testing and song and dance stuff, just produce. All those bills they have are just small change if they can produce. One of the old board members said even a small pilot plant would generate up to $20 million a month. So get financing for the pilot plant and get into production. That's the only thing that matters.
New update, bold added by me:
May 2022 Business Update
BUSINESS UPDATES – 2022
from ECPN Board Chairman Doug Sanders
I am calling this the “housekeeping” update… as we begin some long-term planning that is likely to
include the resumption of Annual Shareholder Meetings that could begin as early as Q1 of 2023. With that in mind, we are trying to get a handle on a few things… as we, simultaneously, continue negotiations and due diligence with multiple sources of funding.
First: Improving our ability to communicate with as many shareholders as possible.
We currently have a database of shareholders who have registered their emails via our website and those shareholders are sent Business Updates whenever there’s a new one posted to the website. And, as best as we can estimate, it accounts for less than one quarter of current shareholders. If you are not already receiving Business Updates by email, we encourage you to register your email on the ECPN website (on the Home Page, bottom left… elcapitanpmi.com) so you are among the first to see news and updates.
Second: Learning more from shareholders about how their shares are held, by whom, and actual holdings in terms of number of shares.
We’ve created a short Shareholder Survey to gather information on shareholders that will help us make our database more robust and complete — and give us a better picture of our shareholders, both individually and collectively. And it will help us better understand how many of the total shares issued are held with brokerage houses so that we can create a communications strategy that also includes those fiduciaries, if possible, and gives them updates related to SEC filings and trading status. In preparing the Ballet Packets for the 2021 Election we learned how difficult and expensive it can be to reach all shareholders and are looking for ways to streamline that process. We also anticipate that we may be in a position to begin generating dividends to shareholders within the next year and want to make every attempt to strengthen our communication channels.
The survey is just a few basic questions, and we encourage you to complete it via this link:
https://www.elcapitanpmi.com/shareholder-survey/
You know what they say: Knowledge is power. And I can assure you that not only will your personal
contact information be kept private, but we will use the knowledge we gain to fuel our forward progress toward our short-term and long-term goals. Thanks again for your trust and support. I look forward to sharing more news and Business Updates in the weeks to come.
Doug
No more testing. To go into production and prove the the resource that way.
I don't know Doug Sanders so anything I've heard is third hand rumor. He has a plan to go forward but needs a lot of money. That's about it for the condensed version.
So we wait.
New business update:
https://www.elcapitanpmi.com/april-2022-business-update/
One of the biggest problems I see is they want to JV with the Iron Duke mine and process the ore together in one pilot plant. The Iron Duke is Larry's old mine, and despite what was in the updated 43-101, the Iron Duke doesn't have any PMs and a lower grade iron resource. But low and behold, when they process the ore from both mines, all the recovered PMs will come out of the Iron Duke share of the ore. ECPN won't see any of it.
It's so slick you can't really make this stuff up. Let's hope Doug stays on top of this.
Latest business update announcing a possible JV, and an updated 43-101 by Dr. Clyde Smith. The link to the 43-101 is here: http://www.elcapitanpmi.com/wp-content/uploads/2022/03/El-Capitan-43-101-ReportUpdate_-3-22-2022.pdf
Oct. 27 – Weekly Update
Wednesday, October 27, 2021
The past week has been filled with lots of activity in terms of meetings and conference calls as well as research and contract discussions… and, while it would be premature to report any definite news, it’s my opinion that we have moved a few initiatives forward. Hopefully, in the next few weeks, we will see one or two discussions move closer toward agreements for the sale of our products that will bring in some revenue.
Our highest priorities are ensuring that our extensive land leases are protected and building cash reserves to fund the work needed to get our SEC filings up to date.
The accounting and legal work needed on the SEC filings is a big nut… but a high priority in terms of
industry credibility, stock trade-ability, and our status on the Exchanges and with brokerage houses.
More next week…
Doug
https://www.elcapitanpmi.com/oct-27-weekly-update/P
October 6th – Weekly Update from ECPN Board Chairman Doug Sanders
Wednesday, October 6, 2021
Earlier this week I signed an NDA (Non-disclosure Agreement) that opens the door for talks and information exchanges with parties that are interested in the El Capitan property and its resources. Not sure how these conversations will unfold or what, if anything, will come of them but the message I want to convey in this Update is a simple one: We have multiple irons in the proverbial fire related to the future and profitability of El Capitan and it’s my intention to explore every option toward that goal.
Doug
Update from ECPN Board Chairman Doug Sanders
Wednesday, September 29, 2021
Reporting in from our mine site in New Mexico and working on several projects that will move us forward. One of the most important, in my opinion, is seeking buyers for our ore and Precious Metals (PMs). And on that front, there are multiple conversations in progress with different buyers of different products (or combinations of products) related to:
iron sales to cement manufacturers, through a broker
iron oxide sales, through a broker
rare earths and precious metals, through a broker
total operations of the mine to produce and sell precious metals and rare earths to – temporary mine operations to process our existing stockpiles of ore to generate some cash flow
When we have actual news to report… you all will be among the first to know.
Here’s a photo from El Capitan… in which I’m taking an XRF reading on a random ore sample which will be helpful as we begin new assay work with potential buyers.
That’s it for this week…
Doug
https://www.elcapitanpmi.com/weekly-update-sep29/
They are at trips because of the recent SEC rule change requiring brokers to no longer quote non reporting stocks. Simple as that. The SEC hasn't taken any action against ECPN or thousands of other non reporting pinks. If you can't get quoted, they are no bids to buy. After The 28th you won't be able to sell either. It's happened to thousands of Pinks.
Really? You wonder why he didn't mention trucking ore off the property? You got to be smarter than that.
I certainly wasn't on the side of the road watching when it happened so if you think I'm spreading rumors let's just say I've seen correspondence from prior management that has that in writing. You can believe what you want. I don't care.
This was posted last week on the company website:
Our financial advisors estimate that it’ll take approximately $375,000 to get our SEC filings up to date. This includes the preparation of the new audits that are required but does not include payments due the accounting firm in arrears (totaling well over $135,000) for work completed over the past three years. All in, it’s over $500,000.
My guess is that they are taking the ore down to Davidson's mine to be processed just so they can give the money to those guys. I'm thinking this entire board takeover thing was just a pretense to enrich the usual gang. But I have no evidence of that so everyone is free to believe what they want at this point.
The new CEO Doug Sanders has told shareholders he's raising money to pay off loans to creditors (namely Stapleton and Davidson) and won't be making any filings until that's done. That according to a post on another board.
All non reporting penny stocks will not be quoted by the brokers anymore as of 9/28/21. The sure will still be valid, you just won't be able to trade them anymore.
From what I've heard, they've shipped about 15 truck loads of head ore (around 20ish tons) from our mine down to Larry, Davidson and Arly's mine, the Iron Duke, and they are using our separator there to process it.
Same old deal. No accountability it seems.
LOL, Chuck doesn't talk to Sanders at all. he would never say any of that stuff. I talk to the prior board (which Chuck is a part of) and they have absolutely no communication with Sanders.
In regards to a post made here days ago, Doug Sanders has addressed it in a business update posted today on the website. I'll quote the referenced part here.
"LASTLY…We have been made aware of this post on a forum… and it is not true.
Good news!! Looks like in the next couple of weeks, they will have raised enough money to get all the SEC filings current, and pay off majority of existing debt, the two lien holders on the property and reinstate insurance policies."
https://www.elcapitanpmi.com/board-chairman-sanders-answers-shareholder-questions/
Rumor is that an appeal to the recent court decision has been filed. I'm not sure anyone has the ability to make any deals right now.
Thanks. Company has been active but the old board of directors are trying to take over the company again, and it looks like the NV SOS had transferred the business license into their names. It's still in the courts as far as the takeover though (court hearing first week in March) so not sure how this will play out. I've a call into an existing board member for clarification, if I hear anything I'll post it.
This company has never been suspended or revoked, so not sure what filings you guys are taking about or what reinstatement you mean.
Last time they had this much volume was the smallish pump and dump they had in 2017.
Currently scheduled hearing in Clark Co. District Court on 3/9/21 at 11:00am as to the dispostion on company's motion to vacate the prior order for a new election of board members.
It's Danny Martinez, not David Hernandez. I've spoken to him before. He won't really tell anyone much, as not much is happening besides the court case. He does own a few shares, I think he was awarded 50k at one time. Regardless, I've heard he's helped fund the company out of pocket over the last two years. That's more than Stapleton ever did.
Everybody has an opinion but that's all they are. I certainly have no inside knowledge,I haven't spoken to anyone on the board since maybe late November. I do talk to other shareholders every couple weeks or so but most can't get answers from current management. My guess is the control of the company is still being decided in the courts, and nothing will happen until it's decided.
We will see. I've been reading these boards about ECPN, first Yahoo and now IHub, for over 15 years. How many thousands of times people (usually just the same few people, lol) have posted about the death of this company, hasn't happened yet. Maybe someday, we will see.
Or maybe they do have the goods but don't have the money to develop the mine at the present time. Considering no one is making money off this mine including the management, that answer is more logical, but you believe what you wish.
I'm just waiting like everyone else. I've heard very little lately.
Correct on all counts.
Maybe your friend Antol will take some of that $350k accounting fee money and donate it back for the cause as well....
The business update is on the company's website.
https://www.elcapitanpmi.com/ecpn-1000-for-1000000-initiative/
The average mine takes 18 years to go from discovery to mining or sale.
Chuck's not selling a share. He still wants $20 a share. Antol and Stapleton I can believe, but why are they trying steal the company back if they only want 15 cents? You know, that $3 million of concentrates went somewhere and somebody made some nice cash off of it. If it was worthless why even take it, it would have been better for the company to have it and then it would expose the mine as worthless when it couldn't be processed.
So much has gone on behind the scenes over the years.
As far as a JV, if the gold is proven with the testing or with production in a pilot plant, and it's economical to mine, no one is going to be able to demand anything that's not fair. A fair deal will be very profitable to both parties in a JV. If it isn't, no JV will happen. This isn't even a concern.