OTCPK:CPPMF - Post by User
Post by
xtdon Nov 11, 2009 11:14pm
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Post# 16478061
Ownership clarification
Ownership clarificationJust a note of clarification.
Mitsubishi, Have never stated if they own any CUM shares. The purchase they made was for 25% of the Copper mountain property which is owned by Similco mines. CUM owns the other 75% and no other partners have ever been announced. So Mitsu 25% and CUM 75% own the Similco mines property known as the copper mountain project. So
Mitsu and CUM are partners in the property only and not the share structure of CUM. TKO owned approximatly 3 million shares of CUM which before the last financing was under 10%, Or they would have had to be a reporting insider for any shares they owned or purchased and no insider trading position were ever publcised. Post financing their their portion has to have dropped to below 5%. If TKO wanted to buy out CUM Mitsu would not have any say unless they opted to make a higher offer. This seems unlikely as Mitsu are not historically mine operators but investment partners that like to lock up the supply of metal produced as part of their investment.