OTCPK:CPPMF - Post by User
Post by
neofighton Oct 07, 2015 12:49pm
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Post# 24171906
Corporate presentation yesterday
Corporate presentation yesterdayI went to a presentation yesterday in Penticton. Jim O'Rourke, Rod Shier, a couple of brokers and only about six other guys, investors like me. So lots of time for one-on-one and questions. The key takeaways were:
- their production issues are now under control and that is reflected in increased throughput
- no need for any new significant purchases, equipment has many years of useful life remaining, subject to maintaining the present thorough maintenance program
- stable workforce, the Steelworkers tried to organize the Mineworkers into their union, got the requisite 50% signatures to hold the vote but the workers voted overwhelmingly against the union (I think they said 78% against). They are paid at union scale but have better benefits than the union would provide
- long-term debt is very friendly, low interest rates and capable of renegotiation
- they are profitable at these levels and have contingency plans for lower levels, i.e. copper down to as low as $1.80
- no need to go to the market to raise funds, i.e., no dilution concerns
- good potential for expansion of the reserves and mine life
- they are personally buyers at these levels