Johnny,
We don't know much because they are a junior mining company that is not required to report. I suspect that we would not like what we would hear if we did know the answers to all the questions we have regarding the past few months.
While I do believe that past performance does shed some light on the future, I think there are many on this board (pro and con) who place way too much weight (no pun intended) on the past when they really need to be evaluating the future. CPRK is still a start up company trying to make it is a very difficult economy.
The only questions that currently matter to me are.....
1) How long will it take them to be cash flow positive with debt service included?
2) What is a realistic forecast of future profits 1 year from now? 5 years? 25 years?
3) When, if ever, will we get LTF that will allow us to pay more reasonable interest rates for our debt?
4) When all is said and done, how many outstanding shares will there be?
5) If existing management is not capable of maximizing this project, will they take the ship down with them or will they step aside gracefully?
All the irrational exuberance and all the mud slinging does very little to help me answer these questions.
What I have done is visit the project 5 times and witnessed the progress for myself. For my money, at these valuation levels I see limited, but real, downside and potentially huge upside.
I am not in love with management. I have stopped believing their short-term projections because they have not been accurate to say the least. I hope that some day it won't matter much what we have been told before and we will just be grateful for the opportunity to own a large piece of this company for a small buy in.
F18
Just my opinion and should not be considered as advice to buy or sell.
AI
