GREY:CPYCF - Post by User
Comment by
coalbadon May 01, 2013 12:20pm
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Post# 21324702
RE: RE: No annual report yet on SEDAR
RE: RE: No annual report yet on SEDAR I'm not so sure they have the cash to get through the EA process. The only thing keeping this sinking ship afloat is their Copper Mtn (CUM) shares. It looks like they burned through 1,718,000 CUM shares in 2012 and have already cashed in another 97,000 shares for $319,000 this year. Not sure why they would cash in the 97,000 shares unless they've already burned through the $659,000 cash they had on hand at the end of 2012. At today's price of $1.90 per share, the remaining 210,000 CUM shares would be worth $399,000. Any delays in the EA process and cash could be a problem. BTW, The report says CCC now has a 62.6% interest in the CJV, up from 60% as of December 2011. Might be because of the Itochu dilution.