GREY:CPYCF - Post by User
Post by
MOshowmeon Aug 05, 2013 12:26pm
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Post# 21650154
Only one option I see
Only one option I seeUnless I am naive, the websie stills says "Compliance owns 60% of these interests and Itochu International and LG International own 20% respectively." My understanding is Compliance is working on the resubmission so it is idiot proof for the people reviewing it. The rejection was based on a cursory review and with 12,000 pages, I would like to think Compliance answered all the questions but not in the exact format the BC government wanted. I hope to see a resubmission by Setember or October at the lastest, then a permit by say nine months after that 2nd qtr 2014 which would be a bout a 1.5 years late but even with the original 3rd quarter 2012 date, you figure at least a 6 month delay. I believe they got caught up with everyone else in the coal and otehr commodity markets downturn. People got tired of waiting or could not wait any longer for the stock to head back to 60 cents so it got sold off. They shut down their offices to save money and no point in have a full staff when all they were doing is waiting for the government to act. The amount of stock is nothing compared to what I have seen other companies with billion of shares outstanding. This is a good company and it was not their fault copper mountan went from $7 to $1.50. If what you write becomes a fact one day, then I can see the company issuing more stock, but the backers are billion $ corporations and I believe they are paying for the study, but not the daily operations. They have spent much more so far than what their copper mountain stock was worth at its peak. I say hang in there until 2014. The coal is there, it has been mined before, coal prices will increase at some point, countries still need steel and this is what Raven is being mined for not for energy generation, I have been told. Just give it time.