Thanks your comments VVV....
I basically sent my post as an email to Charles. While I appreciate his efforts and the fact that they at least felt some need to say something to us shareholders, this was, as usual, an inadequate effort. Unfortunately, I fully agree with your assessment that they really don't have anything to report other than "we're working on it" for exactly the reason you've stated - lack of money.
In my email to Charles I made the point that right now, the only news that matters is that we've restarted the mill and have a buyer for our product, AND I asked him if we have the materials on hand to run the concentrator or have some money around to buy same or a supplier who will give us the stuff upfront (i.e., extend us a line of credit). (PW and Regulator, you guys can stop laughing now, OK ??)
"In my mind, CPRK's inability to commit to anything is all due to financing. Every single one of your points below is answered with "when they have money". From finalizing the floatation cells, to dialing in production, to Pinksheet compliance, to cementation, it all starts with financing!"
Agree 100%. That's why I think my question to CM about this point won't be answered, but we'll see....
"I was glad to see that they at least have offers on the table. But, CPRK wanting to select the most "flexible" deal tells me these lenders aren't stupid and they are asking a pretty penny or for serious control...something Dotson doesn't want to give up."
I see it exactly the same way - Dotson is going to have to cave at some point to the desires of the LTF lenders. He is probably in a position where enough of the STF lenders are so pissed off that they are just digging in and just insist on being paid rather than give any further concessions which the LTF lender needs. He needs to take the financing deal that just pays off the STF lenders and gets rid of their liens. Even if it means his control over the entire empire is diminished. Sorry, but when you don't perform, it's either cave in to Shylock or face the prospect of BK. I'm surprised that he hasn't had his feet held to that particular fire already. All it takes is one - bigger empires than this have fallen apart because of one guy who wouldn't give up his place in line.....
Anyway, let's see what else happens here.....stock price is still positive for the day, but the initial gains are eroding, which is not a surprise.
The PR we need is the one that says that the mill restarted and/or LTF deal has been done. Anything else at this point is fluff and not really material or apropos to our survival.....
Cheers / M78
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