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Monday, January 31, 2011 12:25:56 PM
See the note at the end of the PR's of most if not all of these penny companies indicate the PR contains "forward looking statements".
All of the penny companies I've followed and many blue chips also experience delays,so this is par for the course.
CWRN has achieved something very rare and has an initial contract for apparently 105,000 tons somewhere near the spot of $184/ton,which is ca $19,320,000 for this initial contract.
Trucking has begun. Those in the know expected 3 weeks or so of trucking before the ship could sail-see pesquero's recent posts.
The final step has begun and the efficiencies should continue to improve as they perfect the process.
As I and Bullitt and others have noted there is probably 32 million stockpiled or in transit to the port and building at the port in prep for shipping.
As people have noted it took effort to avoid the quick sell in order to do it right so there would be enough stockpiled to keep the trucks running without running out of stockpiled ore.
Pesquero etc expect efficiencies necessary to run a 35k ship every 3 weeks. 13.03 weeks/quarter at intervals of one 35000 ton ship per 3 weeks at $184 spot is $27.97 million. Caution-this is a forward looking statement based upon best available evidence.
Try to find another penny company w that kind of revenue at this share price and count.
This schedule may have been estimated prior to addition of the 3rd shift-if so that should speed things also.
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