Replies to post #26034 on Copper King Mining Corporation fka CPRKQ

[Arnold25764]

OUCH! Looks like it's time to pay the bills or else eviction notice!!!

[Candy B]

Dear webtime.. If you go back in history far enough you will see Nevada Star acquired these mining properties "from Dotson Exploration" in 1999 , according to Beaver County Assessments of 2004, a public record..There may be a far more tangled story of "who did what to whom" here and we will just have to be calm and wait for THE REST OF THE STORY..IMO/ Candy B

[just-the-facts]

Web, I think CPRK is taking this seriously. However, its my understanding that contained in the contract is a "force majeure" clause. IMO, I think this concept applies in this situation. I believe, even though a real lawsuit, it will be taken care of just like all the other issues have been up to this point. How its taken care is the question; negotiation, extention, thrown out, additional compensation... just to name a few.

jtf

[Colorado1]

Web: They probably want a new payment schedule

The lawsuit is all about getting a flow of cash for their properties that they sold to WUCC. The majority of income was based on the anticipated copper production which has not happened in a very timely manner. (To say the least)

CM said that CPRK sent a check to PN back in January to keep current on the contracts payments but PN has choosen not to cash it. (It was probably only a royalty check based on magnetite production. So pretty small check...)

PN not cashing the check is probably why it does not show up as CPRK paying PN anything. Litigation is not always carried directly on the balance sheet but is usually a footnote to investers in the quarterly reports. Did you check that? PN looks to be a fully reporting company. I wonder if they have a shareholders meeting coming up where you can call in and ask questions. Maybe we can buy a share or two then investigate this on that side?

CPRK can delay this action for several years so it can get income flowing then they can pay what they owe. If they make PN whole in the contract that will satisfy all claims.

Now being late or not paying on time is always forgiven especially if you pay interest or late penalties on the money owed. (That is assuming CPRK can get positive cash flow and that they do owe PN anything.)

Seen it before and I will see it again. But you can bet this action will never see a day in court. It will be settled in the back room as most of these issues are.

The way I have this issue on my psuedo balance sheet is $10M plus interest ($1M) so I can put a value on the stock at this point in time. I added it to the $52M given to me by CM then I doubled the debt load to $126M for unanticipated debt just to be careful. I still see .07 pps after production is obtained. Then going up from there especially if transparency were to happen. The pps could be higher but I am being very conservative.

I have said this before if production does not happen this year then I think we as common shareholders are done here.