Copper King Mining Corporation fka CPRKQ

[shiznit013]

Excerpts of conversation between Ron Wunderlich (CPRK), and Ed Ginouves (BLM).

Ron told me that the mill is not running but that they have the scavengers flotation cells installed in the upper and lower mill sections and are making the final plumbing/electrical connections. He estimates it will be mid-week, next week before it is started up.

The conversation was on 2/11, which means (according to Ron) the mill should have started yesterday or today. Can anyone do a follow-up on this?

He said that the company has laid off employees but that the current head-count is 35, 11 of which are at the Milford office.

Last head-count we had was 75, right? That's a pretty steep decline. I wonder what 11 office workers could be doing to occupy their time at a currently non-producing mill.

As there is no money for diesel fuel, any equipment required diesel is currently shut down. Since the laboratory and raw ore crushing equipment require diesel for the portable diesel-electric generator sets, neither are working right now.

What non-diesel requiring equipment is there, and is any of it functional?

He mentioned that the current cprk total shares outstanding is 5 billion shares, with 1 billion shares having been issues yesterday, I asked if the company was financing their day-to-day cash needs from selling shares each day and he said he didn't think they had been doing it for several months--that current cash costs were being covered by the ~1 million in revenue generated by concentrate sales to date.

We now have 2 confirmations that the 1 billion shares haven't been used for covering costs. CAM said that he didn't know how the shares could be sold to us, because of restrictions. If a company is in dire straights, can't retain its employees, can't pay for diesel to get their equipment running, and has the ability to sell shares to fix the situation, wouldn't they be doing it? What is the purpose of the 1B new authorized shares? The only things I can think of are securing loans, or distributing to new private investors.