CPRK - Copper King Mining- Penny Stock- Mining

[sg1efc]

http://finance.yahoo.com/q?s=CPRK.PK

Their latest PR:

MILFORD, Utah--(BUSINESS WIRE)--Copper King Mining Corporation (Other OTC:CPRK), an ore mining, processing, and exploration company located in Southern Utah, today provided additional construction updates concerning its Flotation Processing Mill.

Copper King has purchased a line of thickeners for the mill’s floatation process. This week the concentrate thickener, complete with bride and rakes, arrived in a nearly new condition. The 16' Denver Thickener is 16' Dia X 9' 6" deep wall height, complete with Denver Thickener mechanism, tank, drive, rakes, and bridge.

The Denver Thickener is capable of processing up to 270 tons of concentrate per day. This will allow the Flotation Processing Mill, as designed, to expand with very little additional capital investment. Upon commencement of mill operations, the thickener should receive for processing 75-100 tons of concentrate per day.

The Flotation Processing Mill presently is designed to process 2,500 short tons of ore per day; and is estimated to produce 50-65,000 pounds of copper in concentrate, 25 ounces of gold, and 2,500 ounces of silver per day. The gross daily production value at start up, using current metal prices is estimated at $300,000 to $320,000 per day. This does not include the magnetite value which may add $10,000 to $25,000 per day in value.

Otcpicks.com likes to post releases about this company, it's where I first learned of it. Made a little green from it and waiting for the price to go back up again to sell more shares. Maybe the stock will pop a bit once the Mill is online.

Note: Clicking on the following link will not show the chart. However, if you copy and paste the following link into a new tab or window, it should display the chart for you. At least it does in my FireFox browser tab.

http://stockcharts.com/c-sc/sc?s=CPR...8038147&r=5572

Tip:
FireFox has an awesome add-on to zoom in and out of pictures and it works very well for charts. You can get it here:
https://addons.mozilla.org/en-US/firefox/addon/139

[Theboundbook]

My friend has told me about this little mining company in my home state and that in 2 weeks they will be actually mining... Supposedly the ore is 10x greater in copper then Kennecot and silver is abundant also... I havent done my dd yet myself, but this does look like one that would be fun to gamble with and I do have a free 2k I have made in the last 2 wks here from CNBs, CEMJQ, EEE, GCKO, etc, etc....

Anyone have anything on this? I will start poking around myself...

[Theboundbook]

OOOOOOPS.... Can you guys move this to PENNY STOCKS PLEASE!

[Theboundbook]

Well a HUGE CRASH ON FRIDAY... DONT KNOW WHY YET... GONNA LOOK INTO THIS AND POSSIBLY THINK OF BUYING IT UP MONDAY MORNING.....

[sg1efc]

Makes me feel even better about my 8 cent shares I bought long ago, LoL.

[greencat]

CPRK now has a Q on it's symbol. Late filing. The chart doesn't look bad though. News may be coming or already came. Do thourgh DD. Probably go sideways a bit if it does break out.

CPRKQ Chart

[greencat]

CPRKQ holding support and has a very good chance of making a move..

CPRKQ Chart

[greencat]

CPKRQ, after today's move looks more likely to make a bigger move.

Originally Posted by greencat

CPRKQ holding support and has a very good chance of making a move..

CPRKQ Chart

[soupcan]

Copper King Mining Corp., a Utah-based company that built and operated a $60 million copper mill just outside of Milford in Beaver County, has filed for Chapter 11 bankruptcy.


The company maintains the filing will allow it to reorganize its debts and bring in additional capital so it can emerge from bankruptcy with a healthy balance sheet and a more-competitive cost structure.


Copper King's management has been working to bring in new capital, but it has been a challenge, said spokesman Charles A. Moskowitz, who noted the company furloughed its 85 employees several weeks ago.


"One of the main issues we faced was that our first lien holders [existing lenders] didn't want to see their positions compromised by new lenders" who also were demanding security for their loans, he said.


Moskowitz maintained it will be easier for the company to arrange new financing while operating as a "debtor in possession" under court protection. Copper King filed for Chapter 11 in the U.S. Bankruptcy Court for Nevada.


Yet capital wasn't the only problem plaguing the mining concern.


Earlier this month, in a summary report on its operations, Copper King told shareholders that it had suspended copper mining and milling operations. Among problems detailed:


The process used to extract copper, gold and silver from the ore taken from the company's Hidden Treasure Mine was uneconomical.


Copper King had run into problems with the way it had handled its mill tailings -- the material left over after the metals were extracted from the ore -- and needed to get into compliance with state and federal environmental regulations.


And, the company had defaulted on an agreement to supply magnetite ore to its customers and was unable to fulfill that obligation, worth more than $10 million.


Beaver County Commissioner Chad Johnson said he knew Copper King had run into financial problems but was surprised to hear it had filed for Chapter 11.


"They have been a good business to have in the county," he said. "We're hopeful that they can get their problems worked out."Earlier this year, Copper King went through a management shake-up that resulted in prospector Mark Dotson, the company's long-time guiding light, being replaced as chief executive. Dotson, however, remains a company director, Moskowitz said.


At that time, the board reported that it had established several committees, including a finance and audit committee, to intensify the company's efforts to establish regular financial reporting and improve its corporate governance and record keeping.


"When they got into doing the real work of bringing the company's accounting into the 21st century, they realized it was going to take them longer than expected," Moskowitz said.


Copper King's shares, which trade over the counter and are listed in the Pink Sheets, closed Wednesday at three one-thousandths (.0003) of a cent. The 52-week high was 1.9 cents, reached on Sept. 18, 2009

[pennystocks]

penny stocks are great investment option they are quiet cheap investment option.