If you want to sit here on this forum and tell me that cprkq has zero chance of a chapter 7 ..................I say you are 100% wrong and could not be any further from the truth. It's post like yours that have cost so many investors their hard earned cash in this POS......................lets try putting the real truth out there instead of pumped up ignorant hype that just causes everyone to loose their money. Chapter 7 is VERY REAL!!!!!!!!! and anybody that understands BK law would clearly know and understand that.
That's an interesting (and well grounded) statement.
Tho I'm extremely concerned about CH. 7, after reading the transcripts it becomes apparent the Judge is of the mind to allow a thorough process in the examination of CH. 11, prior to motion of CH. 7 (CAM made reference to this as well in his message dated 9/12/10 - see sticky).
I've constantly criticized management, and am still dumbfounded as to "why" CPRK has hired the likes of John Bryan, most especially at such high expense and without (IMO) qualifications to justify such costs. ADDITIONALLY, what on earth compelled them to trust important documents (which are now being held as "ransom" for payment of services) by an "unlicensed" accounting firm? (refer doc 319): http://www.copperkingwesternutahminingrestructure.com/WU%20319-2.pdf
All these "little things" now seem irrelevant to the "potential" progress, by law, of CH. 11. They are still, however, of great relevance to me as a shareholder tho. The screw ups here are profoundly consistent!
With that, Colorado seems to sum it up perfectly. Even if we achieve CH. 11, my guess is the term of refinancing will be EXTREMELY limited (based on the history of "bad decisions", i.e., mill function, management, etc.), along with dilution, ....
IMO we as shareholders will see verrrry little in terms of profits. It will take YEARS to clean this up.
...thank gawd they stopped the Massey contract (yet another OBVIOUS blunder by CEO!) potentially this may have opened the doors to them extracting resources, nilly willy. (Per transcript, yet another pathetic example of Bryan's "expertise" was revealed when he didn't know Massey produced coal?? wtf? Surely said in jest?)
Now that I no longer subscribe to the hype of various individuals out to make a quick trade on this stock, I'm hard pressed to find ANYTHING positive as to future prospects of this company.
I'm hoping for confirmation that there is SIGNIFICANT value under ground, all of which will attract a buy out.
....hopefully before my grandchildren are old and gray.
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