With March Madness flowing through everyone’s veins, its time we set your sights on the next small cap cinderella story. This stock went from relatively unknown to spreading like wildfire ever since we conducted our conference call on the company found here: http://www.themarketfinancial.com/copper-king-moves-towards-transparency-and-discusses-upgrades-and-restart-of-mill/1787.The stock closed up 17.78% on nearly three times average daily trading volume as some much anticipated news hit the wires regarding management changes, mill restart and future outlook. Early profit takers dropped the stock back from testing the 200 DMA at $0.007, however, we should see a retest of this key resistance shortly as new investors pile in for what could be the feel good small cap story of the year.
Despite all of the recent developments, several key issues remain in the mystery box, leaving investors wondering what could be should the answers finally see justice. Being the impatient journalists that we are, we’ve set foot to knock on the doors of CPRK in order to once again bring updates to the worldwide investment community.
Among the many issues to be questioned are:
- Would higher grade ore be blended once the mill is running at full potential compared to past performance?
- How aggressively are you pursuing an increase in gold mining output?
- Will magnetite production and shipment be ramped up without disrupting other production streams? Do you have the financial means to do so?
- What made you seek the new management changes as it seems rather drastic?
- Are you expecting to hire and fill the top level executive positions sooner rather than later?
- How does the vision of the company change with the new management?
- Many investors are wondering, can you provide an update on Long Term Financing?
- Can you provide any updated production numbers now that the mill is up and running? Are they better than in year’s past?
- What is the update with the Pink Sheets stop sign removal? Why hasn’t it been done now that you’ve filed the paperwork?
- Can you indicate the official headcount of the employees, as this usually speaks volumes for how well a company is doing?
Technical Chart Analysis
It is without a doubt that CPRK is headed on its way up. Parabolic SAR just turned positive as signified by the dot plot starting beneath the bullish white candlestick. Strong buy volume on consecutive trading sessions as indicated by the long green bars give way and confirm that a strong reversal is taking place, despite early profit takers. Full Stochastics has only just begun moving upwards towards the 80 marker, where it has reached numerous times before on news and anticipation of company updates. MACD divergence remains positive above the 0, indicating that investors are feeling bullish on an overall sentiment. Relative Strength Index remains neutral, thus the stock is neither overbought or oversold which breathes a sigh of relief for any onlookers that believe it is a dangerous time to enter. Trading has been steady, however, with the recent news, expect the money flow to be shifting over to the buyers side as the key resistance of $0.007 (200 DMA) looks to be tested in the short-run. Should this break, it will become strong support and it could be the last time the opportunity presents itself in purchasing shares at a discounted price.
About Copper King Mining Corp.
Copper King Mining Corporation is a Nevada Corporation whose stock is currently traded on the Pink Sheets under the trading symbol CPRK.PK. Through its wholly owned subsidiary Western Utah Copper Company, the company engages in mining activities that include exploration, development, extraction and processing of precious metals, including copper, silver and gold, from its extensive mineral resources located in and around the Milford Mineral Belt in Beaver County, Utah. The company owns or controls approximately 100,000 acres of mineral rights, primarily in the Milford, Utah region
The Milford Mineral Belt is a mineral rich area measuring approximately 18 miles long by 8 miles wide, of which the company controls approximately 59,000 acres of mining claims, State of Utah leases and other leases, that have been categorized as highly probable, probable, or likely for copper, silver, gold, tungsten and molybdenum.
The company also owns mining claims elsewhere in Millard and Juab Counties in the State of Utah. The company believes that the primary minerals that can be produced from these properties will be gold and copper, and the company plans to conduct exploratory drilling operations on these properties as early as late 2009 or 2010.
In addition to its mining properties, the company has constructed on property it owns in the Milford Mineral Belt a state of the art ore processing flotation mill with a capacity to process up to 5,000 tons of ore per day.
Disclosure: Long CPRK