Replies to post #26282 on Copper King Mining Corporation fka CPRKQ

[Arnold25764]

Very good questions. All hangs in the balance. We need clarity on this issues in order to get investor confidence back.

[On2them]

FFF, you have probably made the mistake of thinking that royalty check was for copper, not magnetite. You use 18 cents a pound. Your arithmetic is okay but that price is more like magnetite than copper. ($360 per ton (18 cents/lb) for magnetite sounds high, however.)

We know CPRK has been refining magnetite for a long time now, since well before the time limit for reaching production. This is my view as I recall seeing that magnetic separation equipment make that pile of black magnetite many months ago.

IMO, MD has used the magnetite production to satisfy the PN contract. People should also not assume that one has to sell what is produced. That it be produced is satisfaction (of the contract) enough. Right? Magnetite has been sold. Copper con has not been sold. No problem!

That last Fact Sheet lists the active mines and also states that the magnetite was "removed, washed, processed and shipped..." as well as the contract for magnetite that was signed in August 2008.

Like many of us, we each have our own view of the history of the company. This is mine with respect to this current legal move.

Also, just because PN asks for information doesn't make it part of the contract, does it? Let them eat cake!

[Fairways18]

FFF,

Great summary.....one more point.

I find it very interesting that PN offers extensions for several years and then stops playing nice just as the mill is almost finished. If the judge simply looks at both side's intent, it is clear that CPRK has done everything within their power (no pun intended), to get this mill into production. This was never more evident than the past 18 months since the contact was signed with PN.

Hard to think PN's intent has been honorable if they were willing to cut WUCC a break for several years and then they put the hammer down just when WUCC proves up reserves and builds a complex mill.

I do not believe the intent is to steal the land back as it is a long shot at best that a judge would be so accommodating. Rather, I see it as an attempt to extort a better deal with WUCC.

I would not be too upset if this is settled by WUCC by increasing the maximum royality amount by 50% to $15 million. While $5 million seems like a lot right now, we have to remember that it will only be 1%-2% of the revenues. If CPRK has to pay PN $15 mil it means they have sold at least $750 milion of their product and we will all be very wealthy shareholders.

F18

[just-the-facts]

3f, as usual, a great summary of points. Regarding #2, wasn't the payment made using a "raw ore" figure? In other words, yeah...no concentrate sales / production but certainly they've been excavating big time which is part of the production process and they sold the "as is" ore in addition to the magnetite ore. Regarding #3, yes payment was made (more as a contractual filling token payment) but if the company doesn't have money to continue paying royalties due to cash flow issues/lack of sales, that is another legal matter; not an extortion attempt to get more money or change the deal last minute and grab the land. Gee, if a judge doesn't see through this one... well... not to mention force majeure...

This is serious and the company is taking it serious and they will respond very aggressively, but IMO, this will be settled to our advantage. BTW, I've heard concentrate is being produced at the mill now (small stock pile, too), imo, a PR to announce the concentrate partner(s) should be coming soon, and they have settled many, many problems and breakdowns at the mill. They/we are so close right now after many years of hard work...(a few more weeks) I'm trying to arrange a visit next week to see things for myself.

jtf