CPRKQ - Copper King Mining Corp - Page 9
Google Earth Data
The Google Earth data is available from the following location on the Google Earth Community website.
Edited by richwaters - 6/24/11 at 12:57am
Videos for CPRK
May 7, 2011 - CPRK East Gate to Flotation Mill Area - http://www.youtube.com/watch?v=ZPxmKqE3Fh0
May 9, 2011 - CPRK From Main Road to Mill Area - http://www.youtube.com/watch?v=fCz5Kco_GVQ
May 6, 2011 - Video of the Mill - http://www.youtube.com/watch?v=r-oxk9gWZco
Jan 29, 2010 - A Series of 5 Videos by richwaters72 starting with this one - http://www.youtube.com/watch?v=H81SDeDWBC8
Sep 9, 2009 - Video of the Flotation Mill in Operation - http://www.youtube.com/watch?v=WUPw8E3_VFA
Excerpts from the last Shareholder Update on April 11, 2011 from the Equity Security Holders Committee.
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06/09/2011 05:05 PM EDT
The Securities and Exchange Commission announced the filing of a complaint in federal district court against Copper King Mining Corp. (Copper King), Alexander Lindale, LLC (Alexander Lindale), Mark D. Dotson (Dotson), Wilford R. Blum (Blum) and Stephen G. Bennett (Bennett). The complaint alleges that Copper King and its prior President and CEO, Dotson, authored and distributed false and misleading information on Copper King’s Internet website regarding the company’s ability to produce revenue, its ability to extract significant amounts of copper and other metals, its receipt of an irrevocable purchase order for its copper, and its receipt of a firm funding commitment for $100 million to pay for operations and build an ore processing mill.
Shareholders: Mine a viable business
Jennifer Weaver • email@example.com • Published: June 15. 2011 4:55AM - Last modified: June 15. 2011 6:35AM
CEDAR CITY - Copper King Mining Corporation and milling project is a viable business with the potential to provide a return to all current and future investors. That is the message the company's Equity Securities Holders Committee wants to convey in response to the Securities and Exchange Commission complaint filed June 9.
Copper King, a $60 million copper mill just outside of Milford in Beaver County, is alleged by the SEC to have issued fraudulent public statements and press releases, sold unregistered securities and prepared false stock tradability opinion letters.
In 2008, Copper King acquired privately held Western Utah Copper Company and became a publicly traded company. It filed Chapter 11 bankruptcy May 2010 because of no cash flow and has been reorganizing its debts to bring in additional capital. It was the bankruptcy proceeding that influenced the formation of the group of Copper King shareholders that approached the United States Trustee to appoint individuals from its group into an Official Equity Security Holders Committee for the purpose of representing all 6,700 shareholders in the bankruptcy proceedings.
The U.S. Trustee complied with the request because the group was able to show that if Copper King's valuation reflected current standards, its value could increase toward hundreds of millions of dollars. The committee was then formed 10 months ago, a rare occurrence in the state of Utah and across the nation, and has standing to appear in the negotiations and the bankruptcy court to further its interests.
The bankruptcy filing is still active in the U.S. Bankruptcy Court for Utah. It is not known if the SEC complaint will impact the bankruptcy proceeding.
"The ESHC is fully supportive of the SEC's ongoing efforts to shed light on the past business practices of Copper King management and those contracted by management to help facilitate the funding of Copper King," Committee Chairman Chuck Dawson said in an email.
The SEC's civil lawsuit specifically named former Copper King President and CEO Mark D. Dotson, 52, of Milford, Alexander Lindale, LLC, and its general manager, Wilford R. Blum, 58, and former attorney Stephen G. Bennett, 52, of Merrimack, N.H. The complaint seeks injunctive relief, disgorgement and civil penalties from the defendants, who are also not allowed to sell penny stock, which is common shares of small public companies that trade at less than $1.
"The SEC is basically saying don't do it again," said Lee Abbott, former chief financial officer of Western Utah Copper Company and consultant to the committee.
Abbott added with strong emphasis the allegations referenced in the SEC complaint are based on the events of years past and are not reflective of the current status of the assets controlled by Copper King. He said land holdings relevant to the mining and milling operations greatly exceed the 20 acres alleged in the SEC complaint and actually are more than 50,000 acres, and there is plenty of water and power on the site.
Scott Trant of Oregon said he has $30 million in Copper King shares, and his entire family holds more than $100 million.
"I have total faith in the current company as far as its net assets and what it's worth," Trant said. "There has been much accomplished, and we are hoping to bring the company out of bankruptcy and get onto what it was intended to do - mining - and make the corrections necessary to make Copper King a viable company, and we expect we will."
Salt Lake City resident Gary Smith, originally from Milford, a former mining employee and a Copper King shareholder, said he "feels better about the company today."
"In no way is the company a scam. Quite the contrary, it is an opportunity for the city of Milford, the city of Beaver and the surrounding towns with the creation of a lot of jobs once we get through this bankruptcy process," Smith said.
Not every shareholder shares Smith's optimism.
"I sold my shares and took my loss. It was a huge disappointment," said Pam Gray, former Copper King shareholder.
The committee is not giving up, and it doesn't want current shareholders to abandon the company, either.
"With an eye toward proper stewardship, the ESHC has assisted in taking action to remove the current board of directors and officers," Dawson said in an email. "The ESHC continues to believe that in order for Copper King to be successful, new leadership is critical. This is particularly true in light of the lack of leadership demonstrated by Copper King management during the course of events that substantiate much of the SEC complaint."
From Chuck Dawson, Chairman of the CPRKQ Equity Security Holders Committee:
ATTENTION: Those of you who have not yet received a proxy in the mail for whatever reason can contact your brokers and have them vote your shares for you.
All the brokers received a copy of the consent form, you will probably need to speak to their proxy services rep to get it done. MAKE SURE THEY UNDERSTAND THAT YOU CONSENT TO THE PROPOSED ACTION.
Some of you have said that they asked you if you wanted to vote for "management" or "opposition" , but the Broadridge rep says that the brokers who ask that have not read the form or do not understand it. 90% of what they see is voted that way, but this is a special case, SO MAKE IT VERY CLEAR TO THEM THAT YOU WANT TO "CONSENT"
post your experiences with the various brokers here please. If you need a reference copy of the consent to send to them, let me know.
I have updated the Google Earth master file. It now includes the location of the Eagle Drift gold mine that Walt McGinley spoke about early last year. The Eagle Drift is located over near the Cactus Mine on the west side of the property.
Download the Google Earth data file from the Google Earth Community website.
June 27, 2011
Copper King Mining Corporation
1208 South 200 West
Milford, Utah 84751
Re: Change in Board of Directors of Copper King Mining Corporation
To Whom It May Concern:
This letter informs Copper King Mining Corporation (the “Company”) and its shareholders that,pursuant to Nevada Revised Statutes Section 78.320 and Article II, Section 11 of the Company’s By-Laws, the holders of a majority of the issued and outstanding shares of the Company’s common stockhave taken the following actions pursuant to an action by written consent:
(1) electing each of Lee
Abbott, Cherie Tilley, Gary Gough, and Scott Harmer as the new Board of Directors for the Company (the“New Board”); and (2) fixing the number of Company directors at four.
The actions taken by the Company’s shareholders became effective as of June 27, 2011 (the “Effective Date”).
The record date for the shareholder action by written consent was May 16, 2011, and at that time there were 5,339,173,422 shares of the Company’s common stock issued and outstanding. (1)
As of the Effective Date, there were at least 2,933,124,274 votes received from the Company’s shareholders of record consenting to the election of the New Board, of which 1,507,948,529 votes were received from shareholders holding Company shares in their own name, and at least 1,425,175,7452 (2) votes were received from Broadridge Financial Solutions, Inc. (“Broadridge”) pursuant to a client proxy vote in which
the beneficial owners of shares held in name by Broadridge’s clients instructed how their shares should be voted.
Additionally, as of the Effective Date, there were at least 2,933,124,274 votes received from the Company’s shareholders of record consenting to fix the number of Company directors at four, of which 1,507,948,529 votes were received from shareholders holding Company shares in their own name, and at least 1,425,175,7453 (3) votes were received from Broadridge pursuant to a client proxy vote in which the
beneficial owners of shares held in name by Broadridge’s clients instructed how their shares should be voted.
Copies of all written consents to the two actions, as well as a related report from Broadridge, will be provided shortly to the Company for its books and records.
1 This number constitutes 5,839,173,422 issued and outstanding shares listed by the Company’s transfer agent, less 500,000,000 shares that the transfer agent records as being issued to the Company and its wholly-owned subsidiary, Western Utah Copper Company, which shares, under Nevada law, may not be counted as issued and outstanding shares.
2 Because there were four individuals elected to the New Board, each director received a different amount of shareholder votes. This number represents the number of votes consenting to the election of the director who received the least amount of votes.
3 As stated above, this number represents the number of votes consenting to the election of the director who received the least amount of votes. Every vote for the election of a member of the New Board also contained a vote fixing the number of directors at four.
We, the Official Committee of Equity Security Holders (the “Equity Committee”), anticipate that the New Board will be in contact with current Company management regarding Company operations and activities, and we respectfully request that the former Company directors leave with the Company or, if necessary, return to the Company, all papers, lists, documents, information, assets, and other property
belonging to the Company, confidential or otherwise, that may be in their possession or under their control.
The Equity Committee supports the actions taken by the Company’s shareholders, and we look forward to working with the New Board for the benefit of the Company and its shareholders. If you have any questions regarding the above actions, please contact Chuck Dawson, Chairman of the Equity Committee, at (770) 899-3468.
The Official Committee of Equity Security Holders
Chuck Dawson, Chairman
Bios of the New Copper King Board of Directors
Lee has been a consultant to the Equity Committee since its inception, and many of the accomplishments and initiatives of the Equity Committee can be attributed to Lee’s expert advice.
Lee’s background and experience are in business consulting and finance. Lee currently serves as Owner/President of three businesses, including a business development company, a financial consulting and advisory company, and an advertising and marketing firm.
Mr. Abbott is also a substantial shareholder in the Company. If elected as a Director of the Company, Lee will resign as a member of the Equity Committee.
Mr. Tilley is presently the owner of Tilley Exploration and Development where his work consists of contract mining and minerals industry consulting. Cherie has experience with some of the best mining companies in the world, including:
• Dynatec Mining Corporation – Area Manager, U.S. Mine Property Development
• Chevron Resources Corporation – Mine Manager, Stillwater Mine, Nye Montana
• American Mine Services Corp – Vice President of Mine Operations
• Phillips Petroleum Company – Director of Mine Development Worldwide
• Phillips Uranium Corporation – Development Manager
• Gulf Mineral Resources – Mine Development
• Gulf Mineral Resources – General Superintendent
Cherie and his team have brought their expertise in mine evaluation, budgeting, design, mill development and production, engineering, implementation, contract mining, maintenance,
operations, and marketing of product to bear in helping us plan for the future of the Company.
Dr. Gough has served in many executive positions with both start-up and established businesses. He has experience in market valuation, financial analysis, business plan development,
construction, and strategic implementation.
After graduating from the University of Utah with a BS degree in medical biology, Dr. Gough attended the University of Pittsburgh where he received a PhD in Cytogenetics. Dr. Gough then worked as a post graduate fellow at the University of California, Irvine where he taught, researched, and studied cellular protein synthesis.
Dr. Gough was a founder and Director of Great Basin Metals where he developed the chemical extraction process used to recover platinum, palladium and rhodium metals from catalytic converters. Among his other endeavors, Dr. Gough currently owns Gary R Gough Construction.
Dr. Gough has been involved with Western Utah Copper Company as a result of his position with Concept Development Corporation and its efforts to assist in the financial development of the Company.
Scott Harmer attended Eastern Washington University where he graduated summa cum laude with a BA in Government, as well as a minor in Economics. After graduating from EWU, Scott attended law school at the Gonzaga School of Law in Spokane, Washington. After graduating law school in 1994, Scott worked as a Deputy Prosecutor for Pacific County, Washington, and in 1995, he became the Senior Criminal Deputy Prosecutor for Pacific County. During his tenure as the Senior Criminal Deputy Prosecutor for Pacific County, Scott also served as Pacific County Coroner. Scott left the prosecutor’s office in 2001 to start a private law practice, and in 2002, he became a Special Assistant to the Attorney General for the State of Washington assigned to handle cases related to child abuse and neglect in rural counties in Southwest Washington.
Scott is also one of the founders of mystockbuddy.com, as well as being the president of Global West Developments Inc., a real estate development firm.
Scott is a current member of the Equity Committee appointed by the Court for the bankruptcy proceedings of the Debtors, as well as being a substantial shareholder of the Company. If elected as a Director of the Company, Scott will resign as a member of the Equity Committee.