That's the problem with people believing everything they read, one poster posts supposed responses from IBA, which were clearly wrong, everyone assumes what they want putting their own spin on it. I'm not sure why people just don't make phone calls themselves and find out first hand. Phone calls do work.
Anyway doesn't this statement about the recommission cost bother you? You would think that MR. Shenher and Mr Edge would have done their investigation into this before signing a lease agreement. CPOW's public reply, unfortunately, in my opinion is bull. They didn't get the financing, they don't have the money to rent the facility, much less the increased cost in personnel, raw materials and other overhead expenses. Would have been best for CPOW to take one small step at a time. Of course I believe now, they needed to feed into the pump, in order for the financing deal to be worthwhile, unfortunatley it didn't work. So now you have two supposed JV's with china, one requires 5 percent payment up front, and the other 30-40 percent?? No money to pay 10000 dollars a month rent and people believe these two jv's will come to fruition? Problem is that even Mr Shenher states a new facility would not be running until at least April 2014, plus the latest jv is only to look at a feasibility study doing..... I still don't see how CPOW can make a profit on logistics, when the chinese group owns all the assets. But stay positive, maybe someday all this will work itself out. Right now I think reality is starting to sink in for some. CPOW is now a day trade as opposed to any long term investment until they become profitable. Have a great week.
