Chatham Rock Phosphate - CRP

[upfrontal]

Another reason why I don't read the Herald (from 7th May 2015)

Morocco took over Western Sahara in 1975 when colonial power Spain withdrew. Civil war followed until 1991, when the UN brokered a peace and sent its peacekeepers in. However, Morocco still considers the area its own (it's extremely mineral rich) and stands accused of terrible acts, including driving 200,000 West Saharans into refugee camps.
New Zealand has just voted in lock-step with other members of the Security Council to keep the peace-keeping mission there for another year, but agreed to Morocco's demand that human rights checks be kept off the agenda. No doubt we were also mindful that New Zealand fertiliser companies are the third largest buyers of Western Sahara phosphate rock in the world - a trade human rights groups deplore.

[artemis]

Looks like change is on the way ---

Deep-sea mining looms on horizon as UN body issues contracts. But now, the era of deep seabed mining appears to be dawning fueled by technological advances in robotics and dwindling land-based deposits. Rising demand for copper, cobalt, gold and the rare-earth elements vital in manufacturing smartphones and other high-tech products is causing a prospecting rush to the dark seafloor thousands of meters (yards) beneath the waves.

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11486860

[PSE]

Another reason why I don't read the Herald (from 7th May 2015)

Morocco took over Western Sahara in 1975 when colonial power Spain withdrew. Civil war followed until 1991, when the UN brokered a peace and sent its peacekeepers in. However, Morocco still considers the area its own (it's extremely mineral rich) and stands accused of terrible acts, including driving 200,000 West Saharans into refugee camps.
New Zealand has just voted in lock-step with other members of the Security Council to keep the peace-keeping mission there for another year, but agreed to Morocco's demand that human rights checks be kept off the agenda. No doubt we were also mindful that New Zealand fertiliser companies are the third largest buyers of Western Sahara phosphate rock in the world - a trade human rights groups deplore.
Not sure the point here but the argument that we should damage our environment because otherwise third world countries would do it is another race to the bottom.
It's an old argument too, from the industrial revolution "If we do not employ the children in the mills, they only remain in conditions unfavourable to their development"
Instead invest in real companies with positive outcomes and one day the argument for CRP will also be archaic.

[Food4Thought]

http://www.stuff.co.nz/marlborough-express/news/70508896/marlborough-ecosystems-being-destroyed

Maybe a bit relevant... ecosystem damaged by practices not really environmentally friendly...
Good idea... bad idea. You have a choice.

[upfrontal]

My apologies PSE that I did not make my concerns clear with my earlier statement regarding the UN's presence in Western Sahara, the below articles should clarify it:

International Business Times 2nd Dec 2014

The terrorist entity of ISIS has taken control of the phosphate facility at al-Qaem and is transferring raw material of phosphate to Raqqa in Syria," the ministry said in a statement on its website, as reported by Al Arabiya News.
Al-Qaem is located some 400 km northwest of Baghdad and has been Iraq's main source of fertilizer. In 2011, the US Geological Survey had said that Iraq had "world-class" reserves of phosphate, the world's second biggest after Morocco, reports the Financial Times.
Syrian Observer 26th May 2015

ISIS announced its seizure of the phosphate mines near the town of as-Sawwanah, south of the city of Palmyra, following clashes with regime forces in the region.

The extremist group’s official radio station announced the organization successfully seized the town of as-Sawwanah – between Damascus and Palmyra – and the surrounding phosphate mines. ISIS forces also seized a warehouse belonging to a Syrian army battalion, capturing tens of tons of munitions, "while dozens of regime forces fleeing the city of Palmyra were killed in the operation", the radio station added.

Sources noted that ISIS’ seizure of as-Sawwanah mines came after it seized the Busairi checkpoint, located in strategic point on the road between Damascus and Palmyra. Busairi checkpoint is one of the largest military points in the region and is tasked with protecting the train station dedicated to the transfer of phosphate to the Syrian coast.

According to ISIS media sources, the regime expected financial losses due to the capture of the phosphate mines are estimated at $250 million USD annually, with all fields and mines now under ISIS control.

Activists from the city of Palmyra also claim ISIS fighters raided a house north of the city of Palmyra yesterday, where 17 pro-regime militants were said to be hiding. All of the militants were reportedly either killed or captured.

New York Times

Last week (I forget the day but can post the article if requested) there was an excellent editorial on how the US may need to change it's viewpoint on ISIS from a terrorist organisation to a group focused on building a nation. They drew comparisons to Britain in the medieval times (ruling by fear, consolidation of resources by force).

Why do you think ISIS is so interested in phosphate?

I also heard an article on BBC radio regarding Morocco's dominance of the phosphate market with a specialist providing assurance that any country that provides 70% of the world supply of a single resource will not be allowed to fall into ISIS hands. He stated 'all major countries with an interest in that resource will have military defence plans to protect that resource'

Why do you think there is a UN peace keeping mission there? The Herald article makes it clear it is not to protect the population from human rights abuses

What do you think NZ's response will be if ISIS do take an interest in Morroco's phosphate resources?

You would be happy with NZ forces going to Morroco?

[upfrontal]

Posted my reply twice for some reason

[upfrontal]

PSE: Trying to see the link between your denigration of US foreign policy and sending NZ boys and girls half way round the world to fight over a resource we have 400km off our coast.

I agree that we should not be sucking this resource from the rise if we can help it but the possibility of NZ forces dying to protect our seabed does not sit well with me.

I take your point regarding providing support to the anti ISIS factions but what support do you propose NZ provide? You are condoning sending our forces over there?

[Daytr]

Or we could just source our phosphate from Russia or South Africa, both producers of low cadmium phosphate.
We also need to examine how much fertilizer we are apply to our farm land. We have plenty of regulation over effluent, but very little I understand in regards the quantity of nitrates etc we spread via fertilizer that ultimately ends up in the water tables, our rivers and estuaries.

[cammo]

The rock phosphate nodules are bioavailable but do not exhibit anywhere near the leaching capability of triple phosphate. Explore the sulfuric acid treatment of mined phosphate and consider the environmental damage caused by this process versus suction dredging crushing and application of the crp resource

[upfrontal]

Or we could just source our phosphate from Russia or South Africa, both producers of low cadmium phosphate.
We also need to examine how much fertilizer we are apply to our farm land. We have plenty of regulation over effluent, but very little I understand in regards the quantity of nitrates etc we spread via fertilizer that ultimately ends up in the water tables, our rivers and estuaries.

This was buried in this years budget under "Driving Primary Sector Export Growth":

Additional funding will help to improve the OVERSEER nutrient management tool, which is an important tool for setting and managing within environmental limits. It helps farmers and growers to improve their productivity, reduce nutrient leaching into waterways, and reduce greenhouse gas emissions. The funding is part of a plan to significantly improve OVERSEER over the next 3 years.

You are right in that we have little regulation over effluent but if the CRP product is as good an environmental product as touted (both in terms of leaching and reduced emissions through transport), then may start to be pressure from the farmers for it to become available on the market.

As an aside I found interesting that this budget also included $52million to upgrade the Chatham Islands wharf, good to see this success after it was flagged as needing replacement 4 years ago

[Daytr]

Apparently it is low in cadmium, but how else will it better for the environment in regards leaching? It is still laden with nitrates.
I think you are buying into hype there, but happy to be proven otherwise.
Ripping up the seabed with little oversight, i.e. you can't actually see the damage I would suggest would offset any emissions caused by shipping by some margin. Then there is also the emissions created by producing the product itself. Do you know if they are more or less than alternative suppliers?

The ocean creates something like 75% of the world's oxygen, perhaps something we should consider before we start ripping up the seabed around the world. Or should we just keep pumping out carbon & reduce carbon filters and oxygen production?

[bmrm]

Apparently it is low in cadmium, but how else will it better for the environment in regards leaching? It is still laden with nitrates.
I think you are buying into hype there, but happy to be proven otherwise.
Ripping up the seabed with little oversight, i.e. you can't actually see the damage I would suggest would offset any emissions caused by shipping by some margin. Then there is also the emissions created by producing the product itself. Do you know if they are more or less than alternative suppliers?

The ocean creates something like 75% of the world's oxygen, perhaps something we should consider before we start ripping up the seabed around the world. Or should we just keep pumping out carbon & reduce carbon filters and oxygen production?

That would maybe be a compelling point if we didn't already allow the fisheries industry to do this on a massive scale, and all to produce a comparably low value product (fish vs mined minerals). The fact that fisheries got in ex ante our current environmental regulations is nice for them, but seems both unjust and dumb when viewed in the context of other productive uses of the sea floor.

[cammo]

Unsure where you get the nitrates from?

The Rock phosphate is exactly that....a sedimentary rock that consists of the end stage of the phosphate cycle( lowest energy) deposited on the ocean floor.

I havent looked at the chemical composition but most likely it will be (metal)x phosphate(y) hydroxy (z) and maybe a fluorine or two chucked in for good measure. All adding up to insoluble. This phosphate is only liberated by enzymatic action, bacteria and roots infiltrating the phosphate ore- i.e its for the plants use not opportunistic organisms.

Compare with the calcium based acid phosphates with solubility of 10-20 g/l at least and very ionic so easily changed and taken up in biological systems

[NT001]

Apparently it is low in cadmium, but how else will it better for the environment in regards leaching? It is still laden with nitrates....

Then there is also the emissions created by producing the product itself. Do you know if they are more or less than alternative suppliers?

I seem to recall that one of the strong points of CRP's submission was that Chatham Rise phosphate would not require the emissions-creating processing that the product from Morocco needs.

[Daytr]

BMRM, two wrongs don't make a right. There are many things very wrong with the global fishing industry as well and in the NZ industry, don't get me started. You are setting the bar pretty low by the assertion that other industries are already doing damage to te ecology so its find to do more.

Cammo, yes you are right what is being extracted is rock phosphate, I was referring to the end product being a mixed or combination of fertilizer which generally is heavy in nitrates that then leech into the water ways.

What I am against in the main is that CRP has not given enough evidence in my view of the potential impact / damage it will do to the seabed and what impact it will have on organisms that live and migrate through the area. I don't think we should be charging in without full knowledge & that is what is lacking here & that was also the EPA's view. If a concrete case can be made that the impact is minimal & this needs to be proven with far more knowledge of the actual environment being disturbed it may well make sense. However to date CRP imo are a long way from that.
And this argument of give it a go & see what happens or Adaptive Management is just BS and would never be allowed on land.

[Daytr]

As mentioned on multiple occasions, Morocco isn't the only producer, they are just one of the cheapest.
But again if the case can be proven over sourcing from the likes of Russia & South Africa and that included with knowledge of the actual seabed that will be disturbed and the damage to it can be knowledgeably displayed then perhaps there is an argument to proceed. However CRP are a long way from that position imo & that of the EPA.


I seem to recall that one of the strong points of CRP's submission was that Chatham Rise phosphate would not require the emissions-creating processing that the product from Morocco needs.

[Food4Thought]

Phosphate, when put into a situation with algae... allows it to grow for a longer time period. The food as such for algae. Algae bloom material. I wonder what the fall out effect would be from phosphate mining under water with a sub tropical climate... Bacteria and algae growth at an exponential rate within the right circumstances (summer temperature increases).

To remove phosphate from water, you can use lanthanum, to bind it together, filter it out. This is not cheap.

[cammo]

The phosphate is bound in a mineral complex not a discrete ionic compound so lanthanum wouldn't work. Also it's sea water so unlikely to function in that way as too many other anions in solution.

[NeverQuestion]

Does anyone know who the new head of the EPA is now?

Seems like this stock is pretty much a write off now... Which is odd because I thought the government were serious about cleaning up the waterways in rural New Zealand

Clearly Less super phosphate on farmland would be better for the environment (CRP phosphate has much lower runoff and only needs to be applied once every 3 years not every year)

[Antipodean]

Dr Allan Freeth took over in September 2015 as CE (http://www.epa.govt.nz/about-us/who-we-are/Pages/Management-team.aspx)

At present the stock is a virtual write off until/unless 'something' changes. Something could be a re-submit of the application (with or without governmental changes prior), or something of note from the reverse takeover recently completed. However the government alone cannot get this moving even if they wanted to.

[NeverQuestion]

Does anyone know who the new head of the EPA is now?

Seems like this stock is pretty much a write off now... Which is odd because I thought the government were serious about cleaning up the waterways in rural New Zealand

Clearly Less super phosphate on farmland would be better for the environment (CRP phosphate has much lower runoff and only needs to be applied once every 3 years not every year)

So they released a market announcement today with a road map on where to next!

The Chatham Rise timetable from here
November 2015 – Antipodes shareholders approve sale of assets, merger with Chatham and change of name of the merged company
December 2015 – March 2016 - Chatham completes financing programme, Antipodes and Chatham merge with the combined entity listed on the TSX.V and NZAX
March 2016 – decision made to resubmit Marine Consent Application
June 2016 – Marine Consent Application lodged
December 2016 – fast tracked decision released
June 2017 – Marine mining contract finalised and ship conversion commences
September 2019 – trial mining
January 2020 – commercial mining commences
In parallel with this Chatham will be steadily building a phosphate trading business in preparation for accepting and marketing the offtake from the Chatham Rise deposit.

[Crackity]

So they released a market announcement today with a road map on where to next!

The Chatham Rise timetable from here
November 2015 – Antipodes shareholders approve sale of assets, merger with Chatham and change of name of the merged company
December 2015 – March 2016 - Chatham completes financing programme, Antipodes and Chatham merge with the combined entity listed on the TSX.V and NZAX
March 2016 – decision made to resubmit Marine Consent Application
June 2016 – Marine Consent Application lodged
December 2016 – fast tracked decision released
June 2017 – Marine mining contract finalised and ship conversion commences
September 2019 – trial mining
January 2020 – commercial mining commences
In parallel with this Chatham will be steadily building a phosphate trading business in preparation for accepting and marketing the offtake from the Chatham Rise deposit.

they only missed a few bits from the timeline.....I have added them in below
31 Dec 2015 - management fees of 400k to C.Castle
31 Dec 2016 - management fees of 400k to C.Castle
31 Dec 2017 - management fees of 400k to to C.Castle
31 Dec 2018 - management fees of 400k to C.Castle
31 Dec 2019 - management fees of 400k to C.Castle

:)

[Antipodean]

they only missed a few bits from the timeline.....I have added them in below
31 Dec 2015 - management fees of 400k to C.Castle
31 Dec 2016 - management fees of 400k to C.Castle
31 Dec 2017 - management fees of 400k to to C.Castle
31 Dec 2018 - management fees of 400k to C.Castle
31 Dec 2019 - management fees of 400k to C.Castle

:)

While there have been valid concerns raised over such high payments that may or may not warrant the above, if you are going to sledge at least stay closer to the mark. His payment structure is now reduced to $60k cash annually: https://www.nzx.com/companies/CRP/announcements/268574 - and $180k worth of shares. Still glamorous compared to what holders have received.

If the 'milestones' are achieved (anyone know what they are?) those $180k shares (based on the current share price of $0.007) would translate into 25.7 million shares (per annum). That's huge - equivalent to 6.3% of the current NZX CRP at 407 odd million on issue. So while the alignment of interests with shareholders mentioned in the announcement is positive, it coincides with significant dilution which is also detrimental to the current shareholders.

[Crackity]

While there have been valid concerns raised over such high payments that may or may not warrant the above, if you are going to sledge at least stay closer to the mark. His payment structure is now reduced to $60k cash annually: https://www.nzx.com/companies/CRP/announcements/268574 - and $180k worth of shares. Still glamorous compared to what holders have received.

If the 'milestones' are achieved (anyone know what they are?) those $180k shares (based on the current share price of $0.007) would translate into 25.7 million shares (per annum). That's huge - equivalent to 6.3% of the current NZX CRP at 407 odd million on issue. So while the alignment of interests with shareholders mentioned in the announcement is positive, it coincides with significant dilution which is also detrimental to the current shareholders.




fair call Antipodean - I was working on the historical average for management fees....maybe it will be different this time round....

[blackcap]

So this company has a market cap of about $2.8m. So CC's "salaray" of $240k is almost 10% of market cap. Interesting.

[NeverQuestion]

So this company has a market cap of about $2.8m. So CC's "salaray" of $240k is almost 10% of market cap. Interesting.

Have you seen the latest?

CRP seeks more capital to ensure overseas listing


https://www.nzx.com/companies/CRP/announcements/272443

[Crackity]

Have you seen the latest?

CRP seeks more capital to ensure overseas listing


https://www.nzx.com/companies/CRP/announcements/272443

this announcement appears to be 211 days late?

[NeverQuestion]

this announcement appears to be 211 days late?

As in they should have done this sooner?

Dated 28 October 2015

[Food4Thought]

C.Castle is onto something. Always has been. Smart enough to somehow outsmart many others... I am heavily in disfavor for the historical nature of his companies operations and their intended direction. Not going to be granted the go ahead. Operation is way too risky IMO, *risky* to name a few things. Watch as your investment here disappears.

[Joshuatree]

Consultancy fees, directors' fees, management fees totaling $727,000 in 2013.

Office and travel expenses a further $283,000.

Consultancy fees to Chris Castle via AOR $669,000 in 2012 and 2013.

He tries very hard indeed!

Lots of details on past threads re the lifestyle CC has had.Will want to again of course;rinse and repeat.

[NT001]

Trans Tasman Resources having another go, after all

http://www.stuff.co.nz/business/74547041/transtasman-resources-apply-for-new-permit-to-mine-iron-ore-from-seabed.

[Crackity]

Trans Tasman Resources having another go, after all

http://www.stuff.co.nz/business/74547041/transtasman-resources-apply-for-new-permit-to-mine-iron-ore-from-seabed.


He is such a joker that Chris Castle chap.....Anyone tempted to donate money to a cause should perhaps consider the City Mission instead! :)

[Balance]

https://www.nzx.com/companies/CRP/announcements/274545

Oh dear - $800k.

I do like this though from Chris Castle : “We have a duty of care to our shareholders regarding money spent.”

Give the guy a knighthood - he is a LEGEND!

[artemis]

The EPA won't be happy carrying this outstanding debt on their books and will be under pressure to do something.

They must have known that CRP would take some legal action, given the to-ing and fro-ing on the disputed amount. I'm thinking they will be OK with getting the courts to decide who should pay what. Then they don't need to take responsibility, and if CRP falls over because of the action, blame the judge.

I have run across such an approach before by a government department - twice in fact. Money not quite in the same league! In each case, the department offered no defence - it was cheaper and easier (for them) to let someone else decide. After all it wasn't their money. In one case, the court decided, in the other it was a review panel. Won both times - well, no defence was offered.

Not saying that is that is the case here, but would not be surprised if only a half hearted defence to CRP is offered. In which case CRP might get costs.

[NeverQuestion]

Might have slipped under the radar

https://www.nzx.com/companies/CRP/announcements/277005

Hopefully this will help convince the environmental benefits of using rock phosphate!

Since using conflict phosphate isn't a good enough reason to switch

[artemis]

Announcement from CRP today that the Ombudsman has agreed to investigate the way the EPA handled CRP's application for marine resource consent. That is a good thing.

On the face of it CRP has some compelling issues, which Mr Castle has made public in the past.

Of course the EPA may have equally compelling issues.



Watching with interest .....

[cammo]

https://www.anzsecurities.co.nz/DirectTrade/dynamic/announcement.aspx?id=4098640

whos got 600K to give to CC?? any ideas?

[Joshuatree]

Great book review on national radio."we are intrinsically trusting. Almost anybody can get conned if the artist is clever enough. The Confidence game" by Maria konnikovaand why we fall for it every time explores the technique of the con "etc. Con Artists convince you that it was your idea. Bernie madoff created waiting lists so people were relieved when he finally took their money. "Im not taking anything from you I'm taking what i deserve."

[barleeni]

Announcement today:

https://www.nzx.com/companies/CRP/announcements/278981

Particularly interested in the last paragraph "CRP holds a strategic, multi-million tonne organic rock phosphate deposit uniquely positioned to access Asian and Australasian fertiliser markets. It was granted a 20-year mining licence in 2013" which is true, but they forgot to mention some pertinent information along the lines of (these are my words not theirs of course) "however the Government has since told us to f**k off and sent us an invoice for $2.7 million to cover their costs of writing a letter which in summation read 'get f**ked'"

[upfrontal]

The identity of the mystery $600k contributor is now out (NZX release today)
George Wong Kim Pau and Happy Sim
Bit of digging, they are based in Singapore but both have a 5% shareholding in CASS offshore minerals. Cass Offshore Minerals Limited (CASS) was established as the parent Company to both Ironsands Offshore Mining Limited and Pacific Offshore Mining.
Some very interesting stuff about these companies on the website http://cassom.com/

Don't know what to make of it, they obviously see potential in CRP but are they investing based on how their other projects are going or is it based on pure speculation?

[upfrontal]

Also from stuff 9th Mar 2016 discussing the CRP v EPA cost recovery stoush:
There were no obvious reasons for the costs of hiring furniture in Wellington, paying for it to be delivered to a hearing in Hamilton, and then returned, he said.
About $130,000 was charged for two staff reports that were subsequently withdrawn because they were out of date and inaccurate. Charges were also made to hire Wellington meeting rooms and there were "extravagant catering cost" for attendees, he said.
One venue charged $2709, while a number of others charged between $473 and $1,125.
One provider charged for morning tea, afternoon tea, lunch, flip charts and pens.
"It's extraordinary these meetings could not be hosted in the EPA offices," Shackleton said.
In one case the hire of equipment was quoted at $40,000 but jumped to a charge of $94,000 without any explanation and there was a charge of $4773 to hire velvet curtain drapes, he said.

[Lola]

Announcement from CRP today that the Ombudsman has agreed to investigate the way the EPA handled CRP's application for marine resource consent. That is a good thing.

On the face of it CRP has some compelling issues, which Mr Castle has made public in the past.

Of course the EPA may have equally compelling issues.



Watching with interest .....

Chris had an Uncle named Lester. He was a very humble intelligent and fair minded gentleman who was our first Ombudsman. Pity he is still not with us and better still if he was still our Ombudsman. I trust the Ombudsman who is to investigate this claim refers to his / her forerunners in the role and tries to pick their wisdom.

[blackcap]

Also from stuff 9th Mar 2016 discussing the CRP v EPA cost recovery stoush:
There were no obvious reasons for the costs of hiring furniture in Wellington, paying for it to be delivered to a hearing in Hamilton, and then returned, he said.
About $130,000 was charged for two staff reports that were subsequently withdrawn because they were out of date and inaccurate. Charges were also made to hire Wellington meeting rooms and there were "extravagant catering cost" for attendees, he said.
One venue charged $2709, while a number of others charged between $473 and $1,125.
One provider charged for morning tea, afternoon tea, lunch, flip charts and pens.
"It's extraordinary these meetings could not be hosted in the EPA offices," Shackleton said.
In one case the hire of equipment was quoted at $40,000 but jumped to a charge of $94,000 without any explanation and there was a charge of $4773 to hire velvet curtain drapes, he said.

If this truly is how the EPA have handled it then I think I am with Trump, where in the US he says he is going to get rid of the EPA. I think we need to get rid of it in NZ as well as this looks like a total rort.

[NeverQuestion]

Looks like we know who the buyer is now

https://www.nzx.com/companies/CRP/announcements/279241

[upfrontal]

There was a release on the NZX yesterday from CRP discussing ways to secure funding for the next 12 months, they are releasing a LOT of shares at $0.006. Excerpts from the release below (bearing in mind CRP is valued at around $2.4million):

'This Pre Break Announcement will allow CRP to issue up to NZ$1,250,000 in Shares (in aggregate) under Rule 7.3.1, without having to seek shareholder approval.'

'Effect of the Share Issue
Assuming the Share Issue is fully subscribed (including the Investor Shares), the number of Shares on issue will increase by 41.91%'

Current share price $0.007

I am not a CFO and I would be happy for the CFO of CRP to correct me on this but:

After this massive dilution the share price will be worth $0.007 x 0.58 (the 42% dilution) which is $0.00406. Who is going to buy into a company at $0.006 when you can sit it out and buy them at $0.004 in a month?

I am also interested in their quoted $500k cash burn to keep the company running over the next 12 months, this is a company that is on skeleton staffing so please tell me how you are planning on spending this $500k? (especially when there is no mention at all about another application to the EPA in the release). Presuming C.C. wage is a large part of this money?

Dear Board and management, when is this going to stop? who are you thinking is going to buy your shares at 0.6 cents when I can wait and pick over the scraps at 0.4c?
Nice move doing this below the threshold you need shareholder approval.....

[elZorro]

CRP doesn't appear to be awash with cash yet. Technical advice to be paid with increasingly more shares.

https://www.nzx.com/companies/CRP/announcements/281638

[jonu]

CRP doesn't appear to be awash with cash yet. Technical advice to be paid with increasingly more shares.

https://www.nzx.com/companies/CRP/announcements/281638

Wouldn't this qualify as trading whilst insolvent?

Discl; Not a holder

[upfrontal]

CRP doesn't appear to be awash with cash yet. Technical advice to be paid with increasingly more shares.

https://www.nzx.com/companies/CRP/announcements/281638

I don't think it is technical advice they are paying Boskalis for, it is part of the contract from 2012. I have a feeling that when the contract was signed it was expected that the EPA would have consented the project by now, this money may very well be for transport and use of the ship that has not eventuated (Boskalis would not have been able to book out the ship for other projects).

[upfrontal]

Putting it out there:

I have a big issue with the way the company has been run and its structure. Its assets are intangible (the mining permit) and current (the shareholders) yet for some reason the Board has pursued this idea of listing on the Canadian exchange. This decision was taken at the time when the Company was worth $2.4million in the knowledge that they needed $1.5million working capital as a requirement to list on the Canadian exchange. I am still trying to work out how that one got past the Board, no bank would lend a company (whose main assets are intangible and currently pretty much worthless) 62.5% of the company's book value. However this is the land of shareholders and it appears that the Board has the impression that the shareholders are a never ending source of funds.

I would feel a lot more comfortable if this money was being spent addressing the EPA's concerns from Feb 2015. Maybe some surveying around the mining area to ensure that the data CRP have obtained regarding flora and fauna is not isolated to the mining area? This company needs some short term gains to reassure investors but instead they want ticket to enter the Canadian exchange when they don't have the chips to sit at the table?

It is worth pointing out that anyone investing in this company going forward has no guarantee that they will reapply to the EPA. If you look at the website, instead of a decision being made for reapplication in March 2016 it has been pushed back to Mar 2017. Next year is an election year and good luck to them if they are planning on reapplying during an election year. The Don Diego project off Mexico just got knocked back (similar phosphate mining situation) and the Government is going to have enough on their plate without exposing themselves to criticisms from the Greens or the Labour Party by allowing a world first phosphate mining project to occur off our waters. You may say that the EPA is separate from politics but Labour cried foul when Callaghan Innovation allocated funds to CRP and if you look through the minutes of parliament, after CRP got knocked back in Feb 2015, opposition MP's were asking whether CRP representatives had met with Government. This is a hot political topic.

My heart sank when I saw a decision regarding reapplication would be made next year and the Board's strategy of releasing more shares thus diluting the current value of Kiwi shareholders stock by 41% but 'below the threshold where we need to ask shareholders' was a real kick in the teeth.

I have written off this investment and will not be investing anything more into this company. I wish them well but in my view the Board has an awful lot to answer to the 1000 kiwi shareholders they represent.

[Joshuatree]

Rinse and repeat.Over and over they suck new investors/capital in, reinvent themselves with some "compelling" new project and through all this dilution and financial manoeuvring and engineering over many years and "projects"; namely castle and saunders have a great lifestyle and income.I have no sympathy for holders;its been posted on here for years the ridiculous hail mary risks one takes and yet for sure management have a great ability to suck in new blood/capital over and over.I have attempted to itemise expenses/remuneration for one year many posts back.; its worth reading thru the threads. Why take all the risk for no reward? again i think the modus operandi is "i deserve your money to support my lifestyle and privileges".

[Food4Thought]

Rinse and repeat.Over and over they suck new investors/capital in, reinvent themselves with some "compelling" new project and through all this dilution and financial manoeuvring and engineering over many years and "projects"; namely castle and saunders have a great lifestyle and income.I have no sympathy for holders;its been posted on here for years the ridiculous hail mary risks one takes and yet for sure management have a great ability to suck in new blood/capital over and over.I have attempted to itemise expenses/remuneration for one year many posts back.; its worth reading thru the threads. Why take all the risk for no reward? again i think the modus operandi is "i deserve your money to support my lifestyle and privileges".

Complete waste of investor money and time. What a terrible business they run. Barge pole material here, steer clear from CRP is my advice too. I too have followed them for 15 + years now and this is the precise feeling I get. Take your money, pay for my lifestyle. Blahhhh

[NeverQuestion]

Complete waste of investor money and time. What a terrible business they run. Barge pole material here, steer clear from CRP is my advice too. I too have followed them for 15 + years now and this is the precise feeling I get. Take your money, pay for my lifestyle. Blahhhh

Well If you still have money on this company they have been slapped with a buy recommendation and valuation of .50c

https://www.nzx.com/companies/CRP/announcements/284127

[Hectorplains]

Well If you still have money on this company they have been slapped with a buy recommendation and valuation of .50c

https://www.nzx.com/companies/CRP/announcements/284127

Wow, they have to go all the way to Switzerland, to find someone who'd recommend just about anything.

[Xerof]

Wow, they have to go all the way to Switzerland, to find someone who'd recommend just about anything. I think their name says it all........just a ramp

[NeverQuestion]

Wow, they have to go all the way to Switzerland, to find someone who'd recommend just about anything.

Hey! If you get enough recommendations and create a little bit of hype you might just make a quick profit off this stock

Me? I'm just trying to fund a deposit into the Auckland housing market so these companies are worth a shot :)

[cammo]

Go to the ASX . Far better prospects over there. All you are paying for is CCs next holiday home

[blackcap]

Rinse and repeat.Over and over they suck new investors/capital in, reinvent themselves with some "compelling" new project and through all this dilution and financial manoeuvring and engineering over many years and "projects"; namely castle and saunders have a great lifestyle and income.I have no sympathy for holders;its been posted on here for years the ridiculous hail mary risks one takes and yet for sure management have a great ability to suck in new blood/capital over and over.I have attempted to itemise expenses/remuneration for one year many posts back.; its worth reading thru the threads. Why take all the risk for no reward? again i think the modus operandi is "i deserve your money to support my lifestyle and privileges".

It would be interesting if someone doing a finance degree studied this company as part of an honors or masters. Its been an interesting 15 odd years for sure following the maneuvers of Castle, Saunders et al.

[NeverQuestion]

Go to the ASX . Far better prospects over there. All you are paying for is CCs next holiday home

It's worth a shot.. wouldnt get much for my shares now

So after all the hype around the ammendment to the EPA polices being reviewed at Goverment level there appears to be no reference to CRP submitting anything in the review

http://www.parliament.nz/resource/en-nz/51SCLGE_ADV_00DBHOH_BILL62501_1_A453792/cf845e31a0219a52a9af65066d679ebf77de478f

Thats disapointing :t_down:

[NeverQuestion]

It's worth a shot.. wouldnt get much for my shares now

So after all the hype around the ammendment to the EPA polices being reviewed at Goverment level there appears to be no reference to CRP submitting anything in the review

http://www.parliament.nz/resource/en-nz/51SCLGE_ADV_00DBHOH_BILL62501_1_A453792/cf845e31a0219a52a9af65066d679ebf77de478f

Thats disapointing :t_down:

The only argument I can see against preventing this is the Uranium content

http://www.epa.govt.nz/eez/EEZ000006/EEZ000006_08_04_Dave_Bull_Summary_of_Evidence.pdf

[Food4Thought]

Well If you still have money on this company they have been slapped with a buy recommendation and valuation of .50c

https://www.nzx.com/companies/CRP/announcements/284127


Hello "Never Question". No way, I have no money invested in this black hole and would not. It isn't an ethical investment for me, I think the idea is garbage and the people who have pushed for this for years are prospecting on naivety. That is my personal view.

If there is a high valuation, fantastic. Perhaps someone has paid for marketing in order to get out of this one quick fast. Who knows. It could be prospecting.

Never Question, Good luck making a quick buck at the moment... please do your research and don't expect miracles. You may be better off with cash in the bank in medium term deposits and focusing on saving your money elsewhere. Yet where you risk, you could be rewarded.

[Food4Thought]

https://nzx.com/companies/CRP/announcements/284310

No Brainer Chris Castle said... No brainer is to avoid these schmucks. Disclosure - do not hold, never have, and I won't.

[cammo]

chemically uranium is relatively non toxic compared to lead mercury and the biggie for phosphate use; cadmium. Environmental uranium is of very low specific radioactivity as well as very low solubility. Id be quite happy to take the uranium in my whisky stirred over ice against any of the others any day of the week. 235 U is only about 0.72% of natural uranium and 238 is not fissionable. Mercury salts were the reason for the "mad hatter", lead and cadmium which are very closely related cause brain damage. The public has an artificially high fear of both radioactivity and heavy metal chemistry, predominantly driven by the media.

[NeverQuestion]

chemically uranium is relatively non toxic compared to lead mercury and the biggie for phosphate use; cadmium. Environmental uranium is of very low specific radioactivity as well as very low solubility. Id be quite happy to take the uranium in my whisky stirred over ice against any of the others any day of the week. 235 U is only about 0.72% of natural uranium and 238 is not fissionable. Mercury salts were the reason for the "mad hatter", lead and cadmium which are very closely related cause brain damage. The public has an artificially high fear of both radioactivity and heavy metal chemistry, predominantly driven by the media.

Not sure why CRP Notifications don't show up in the main feed of NZX anymore.. perhaps they haven't paid the fee but this came out yesterday

1. It is a reactive phosphate rock that when applied directly to the soil binds in a manner that is both a very effective fertiliser and can reduce the runoff of phosphate to waterways by up 80% less finishing in the waterways when it rains heavily. We have already released this information to shareholders and the public . We have also provided advice on this matter (together with references to the relevant research findings) to the Minister for the Environment as long ago as December 2012.
2. Cadmium levels in many New Zealand soils are at unacceptably high levels after decades of fertiliser application using phosphate rock sourced from Nauru. Due to this NZ’s two fertiliser manufacturers have volunteered to keep cadmium levels in manufactured phosphate fertilisers under 280 parts per million. In recent years the predominant source of rock phosphate has been rock imported from Morocco. Cadmium levels can be so high in this phosphate rock that it needs to be blended with rock imported from other countries. Chatham phosphate rock has much lower cadmium levels, about 20 parts per million and is potentially valuable as a blend for manufactured phosphate fertilisers.
3. Reduced carbon footprint. At present every kilogram of phosphate based manufactured fertiliser applied to New Zealand soils has already generated carbon emissions of 216 grams. The equivalent emissions for Chatham Rock Phosphate are estimated to be a quarter of that, principally because the transport related emissions are so much lower.
4. Chatham rock phosphate applied directly to the soil contains elevated levels of calcium which plays a critical role in plant root development and nutrient uptake as well as improving the soil’s physical structure and enhancing the life cycles of microbial life.

https://www.nzx.com/companies/CRP/announcements/284310

[Balance]

Hey! If you get enough recommendations and create a little bit of hype you might just make a quick profit off this stock

Me? I'm just trying to fund a deposit into the Auckland housing market so these companies are worth a shot :)

Go and buy a lotto ticket for this Wednesday - $24m jackpot.

[Antipodean]

Not sure why CRP Notifications don't show up in the main feed of NZX anymore.. perhaps they haven't paid the fee but this came out yesterday


You will find them on the NZAX, not the main feed

https://nzx.com/markets/NZAX

[NeverQuestion]

Go and buy a lotto ticket for this Wednesday - $24m jackpot.


Or save the $20 per week spent on lotto and buy shares in cheap companies with some potental

Thats my plan anyway

[Balance]

Or save the $20 per week spent on lotto and buy shares in cheap companies with some potental

Thats my plan anyway

Cheap? On what measure? Like things in the $2 shop? :D

[NeverQuestion]

Go and buy a lotto ticket for this Wednesday - $24m jackpot.

http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11669860

So if lotto costs around $25 and say since this post I have tried multiple times to win the jackpot..

Perhaps 4 times I have bought a ticket over the various draws.. I could have $100 wasted in lotto with 100% loss on that and counting!

or $100 (Not including the broker fees) to invest in a stock such as CRP...

Now I have 11,111 shares in a company compared to 100% loss! (And could still be 100% loss but better odds than lotto I hope)

And if the stock makes it to $0.20 per share just from hype then I have $2,222 compared to the 100% loss

Just saying this company is worth a shot.. :cool:

[Joshuatree]

"Just saying this company is worth a shot.. :cool:"
A stiff shot of whisky followed by buckshot:D
Contrarians can make a motzsa(heaps) but they have to be so well researched and have everything covered thoroughly and in-depth; deep forensics; full risk analysis including track records, history, interviews; know and ask the hard questions and insist on direct answers etc etc.Everything that can be possibly uncovered, reviewed, prodded etc ; be a natural at joining dots adding it all up and making an unbiased, ego removed decision.Spreadsheets ,lots of figures best and worst cases etc.

Im not that kinda guy thats a strength for me knowing that ;how bout you NQ i hope your payoff by being contrarian isn't simply, attention because that doesn't advance ones bottom line.

[Antipodean]

At least with lotto some of the money will find it's way to back to worthwhile charities. A 100% loss in this company goes primarily to certain employees and the govt bureaucracy.

With 800 million shares on issue $0.20 is a 160 million mcap. It will never make it to $0.02 from hype - let alone $0.20. If (big expensive IF) a second EPA MC comes through allowing the company to start work then things can change.

** I have a small holding in CRP from pre EPA MC judgement I have written off at a 100% loss. I still think NZ off-shore phosphate mining can be feasible, beneficial and not environmentally detrimental. However - whereas I was once a supporter I have lost faith in this company.

[NeverQuestion]

"Just saying this company is worth a shot.. :cool:"
A stiff shot of whisky followed by buckshot:D
Contrarians can make a motzsa(heaps) but they have to be so well researched and have everything covered thoroughly and in-depth; deep forensics; full risk analysis including track records, history, interviews; know and ask the hard questions and insist on direct answers etc etc.Everything that can be possibly uncovered, reviewed, prodded etc ; be a natural at joining dots adding it all up and making an unbiased, ego removed decision.Spreadsheets ,lots of figures best and worst cases etc.

Im not that kinda guy thats a strength for me knowing that ;how bout you NQ i hope your payoff by being contrarian isn't simply, attention because that doesn't advance ones bottom line.

I'm not saying this isn't a high risk company.. but with high risk comes good returns!

And given the situation im in a small amount of funds allocated to high risk, high return could really help

The rest of my portfollo combined just hit 100% return... its a shame I only had $3000 to invest :t_down:

[Joshuatree]

Greedy Punter then who wants something for nothing; you'll get that here more likely. Hey Chris heres another one whose desperate; take the lot; easy meat! easy come easy go.

[NeverQuestion]

Greedy Punter then who wants something for nothing; you'll get that here more likely. Hey Chris heres another one whose desperate; take the lot; easy meat! easy come easy go.

Wow,

When Auckland house prices are so far out of reach Im sure you too would look at options like this

Go a head and call me Greedy but walk a mile buddy and maybe your understand something

I'm not the one who created this situation and my generation has to pay for education.. after 6 years I'm still paying $300 a fortnight and will until i'm 30

Desperate and easy huh? Should we take a look at my stocks so far?

BLT up 106%
ATM up 162%
WDT up 83%
CAA up 13%
CL8 up 15%

After 3 years of trading not doing so bad huh

Perhaps you would like to share how well your stocks are doing or too afraid? :cool:

[Joshuatree]

Sorry didn't mean to sound rude but i do have trouble understanding why anyone would take the risk on here.. Congrats on your returns there. have traded Atm and BLT successfully; maybe CL8 a way back.Wont comment anymore on CRP until i see some one else i can warn. Be useful for you to go back and read the threads from page 1 on here. I comment (too much) on my aussie shares if you can be bothered looking.G'luck, JT

[jonu]

CRP have just had a report done by RAMPartners. SP target of 50 cents. Does no one else see the irony here?

[upfrontal]

CRP have just had a report done by RAMPartners. SP target of 50 cents. Does no one else see the irony here?

As in 2 years ago Edison did a similar report with a target price of $2.40? The irony that the company has been diluted to a fifth of what a share was worth 2 years ago?

Or the irony for the poor shareholders who bought when shares were worth significantly more than what they are worth now?

I have a bitter ironic smile as I bought a very small shareholding at 33c, some of my stock pre-refusal was bought at 11c, most of it has been bought at 0.6c.

Or the irony of having supported this company in the face of naysayers, I am no longer buying because their hand is always out, continually asking for more from the shareholders.

[upfrontal]

For those looking to invest I draw attention to page 9 of the 2016 Annual Report:

The Company incurred a net loss of $817,898 during the year ended 31 March 2016 and, as of that date, thecompany’s current liabilities exceeded its current assets by $446,616.

This company was insolvent on the 31st March 2016. They do not have any income apart from the shareholders and their assets are intangible (a mining permit worth $2.4 million as of this time last year).

I have said before I have written off my investment in this company and will no longer be buying. My decision now is whether I dump my shares or view them as a lottery ticket, little chance of winning but will be nice if it comes through.........

[Xerof]

CRP have just had a report done by RAMPartners. SP target of 50 cents. Does no one else see the irony here?

Unless you think I am a nobody, :( I saw the irony in my June 16th post


I think their name says it all........just a ramp

[upfrontal]

At least with lotto some of the money will find it's way to back to worthwhile charities. A 100% loss in this company goes primarily to certain employees and the govt bureaucracy.

With 800 million shares on issue $0.20 is a 160 million mcap. It will never make it to $0.02 from hype - let alone $0.20. If (big expensive IF) a second EPA MC comes through allowing the company to start work then things can change.

** I have a small holding in CRP from pre EPA MC judgement I have written off at a 100% loss. I still think NZ off-shore phosphate mining can be feasible, beneficial and not environmentally detrimental. However - whereas I was once a supporter I have lost faith in this company.

Antipodean, I share your sentiments exactly and well said on all points above

[upfrontal]

Unless you think I am a nobody, :( I saw the irony in my June 16th post

I don't think you are a nobody, but I do think you are a realist (it is shame I got caught up in the original hype with this company).

The Board of this company specialises in spin and i was one of the suckers :(

[jonu]

Unless you think I am a nobody, :( I saw the irony in my June 16th post

Touche Xerof. Lord no I wouldn't think that. I didn't see your earlier post.

Actually everybody is a nobody from where I sit, high in my ivory tower, looking disparagingly down on the minions below. The rarified air up here is really rather fine.

[Balance]

I don't think you are a nobody, but I do think you are a realist (it is shame I got caught up in the original hype with this company).

The Board of this company specialises in spin and i was one of the suckers :(

Don't be too hard on yourself. This is from Chris Lee (reknown for his superior knowledge of the finance companies before they all started going broke) in March 2014 :


"Congratulations are due to Chatham Rock Phosphate’s key figure Chris Castle, who has cracked it.

He has found new shareholders in Britain and the US and Canada who will invest and underwrite a rights issue, enabling CRP to be fully funded for its horrendously expensive application for an environmental consent to convert its mining licence for phosphate pebbles into revenue, profits and dividends.

Castle’s dogged pursuit of progressing this project will be of no surprise to his followers. He is a survivor, a battler, a determined character whose quiet demeanour should fool no one.

If the consent application is granted, Castle will have achieved what many would not have tried.

Note: CRP is hoping to list on the UK AIM market".

---------------------------------------------------------------------------------------------

Sp then was 22 cents - now less than 1c.

Whatever happened to the AIM listing?

[NeverQuestion]

Looks like Transtasman are trying again :)

http://www.nbr.co.nz/article/seabed-ironsands-miner-transtasman-tries-again-resource-consent-b-193360

[artemis]

The EPA has had a bit of a shake up since the TTR and CRP declines. The head honcho left, the minister indicated some changes around balancing economic and environmental issues.

The Ombudsman is investigating aspects of EPA charges for the CRP hearing. Certainly some charges seem extravagant - nearly $5k to hire velvet curtains, wtf? - which do not show the EPA in a good light.

Then there were 2 staff reports for which CRP was charged a truckload, even though they were withdrawn for quality reasons.

[winner69]

Suppose some groups will need to get together again to stop this appalling idea happening

[upfrontal]

Suppose some groups will need to get together again to stop this appalling idea happening

I wouldn't call it appalling, the strongest I would go is that it is unfortunate that it is a NZ resource and a decision has to be made about it.

Do some research about blood phosphate and you will see that Moroccan phosphate is associated with some pretty bad stuff.

Quick History: In 1975 Morocco went to war over the resources of the Western Sahara and occupied the lands. This continued until a UN brokered ceasefire in 1975 but Morocco has removed of the Sahrawi people of the Western Sahara who have been forced to live in refugee camps in order to make way for the mining of their lands. Neither the UN or the International Court of Justice recognise Morocco's claims to these lands and figures I have seen quote 50,000 displaced people as a result of the phosphate resource they had the bad luck to live on.

Moroccan phosphate has also significant negative health benefits for those that mine it (it is fair to say that their OH&S is not as 'robust' as NZ):

Few recent studies are in the public domain on work-related illnesses in the Moroccan phosphate industry. However, studies are published elsewhere.Greenpeace and the World Nuclear Association have found that Moroccan phosphate is particularly high in cadmium and has appreciable quantities of uranium, two heavy metals associated with cancer, kidney failure and bone disease. Uranium is so abundant, in fact, that in 2012 OCP (the number one Moroccan phosphate producer) announced plans to co-mine it with phosphate.
The US Environmental Protection Agency has conducted extensive research on managing phosphogypsum, a radioactive waste byproduct generated during fertiliser production. In the US, this low-value waste is hauled off as slurry to stacks located far from people. In Morocco, it is simply dumped in the Atlantic.“OCP doesn’t recognise the connection between these illnesses and our work environment,” says one of the Moroccan Phosphate workers we talked to. (Source The Guardian Newspaper 16th December 2015: Toxic shadow phosphate miners in Morocco fear they pay a high price).

If you think that we are a small country and don't import much from Morocco, in 2013 Ravensdown Ltd was the 4th largest customer with 180,000 tonnes and Ballance Agri-Nutrients was the 6th largest customer with 140,000 tonnes (both are NZ companies and all 320,000 tonnes was imported into NZ, 2012 had similar figures, source 'P for plunder' 2014 Western Sahara Resource Watch). You will be aware of how much agriculture contributes to NZ's GDP.

So I differ in your view that it is an appalling idea (and I very much doubt those people I have talked about above think it is also an appalling idea that we look to mine a rock phosphate on our doorstep) I think that it is unfortunate that it is a NZ resource and a decision has to be made about whether to leave it where it is (and support the concept of blood phosphate) or bring it up and risk environmental damage.

I suppose your viewpoint depends on where you stand over condoning societal damage v condoning environmental damage and it is unfortunate that the decision to mine comes down to this black and white decision.

We could talk about phosphate recycling but that is a another post and still very very far away from being economical. :(

[NeverQuestion]

Suppose some groups will need to get together again to stop this appalling idea happening

Yip

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=11712277

[NeverQuestion]

Any day now :cool:

https://www.nzx.com/companies/CRP/announcements/291308

[easy money]

Crp starting to move...

[janner]

Crp starting to move...

ZZZZZZZZZZZZZZZhhh..

[Snow Leopard]

I did not realise that it was still listed.

Best Wishes
Paper Tiger

[ziggy415]

I did not realise that it was still listed.

Best Wishes
Paper Tiger
I think this may not just be such a daft idea this nz phosphate thingy....digging up from 400 metres below the sea might be but agriculture and phosphate and nz might go hand in hand....where to find on land is the problem...I hear tigers like it much like cows love salt licks in the paddock, so we only have to follow tiger droppings and i,m sure we,ll find the mother load.....Sir Chris Castle...if a Jeweller can get knighted...well who knows

[Balance]

https://www.nzx.com/companies/CRP/announcements/293985

Putting two dogs together = Chris Castle special talents to string out fees.

[Snow Leopard]

I did not realise that it was still listed.

Best Wishes
Paper Tiger


https://www.nzx.com/companies/CRP/announcements/293985

Putting two dogs together = Chris Castle special talents to string out fees.

There you go, it is off to Canada :).

Best Wishes
Paper Tiger

[artemis]

I see that KASM - Kiwis Against Seabed Mining - has been declined charitable status as it is considered an advocacy group, rather than an educational group as it argued. KASM argued it was only opposed to non-essential seabed mining, not all seabed mining, and its advocacy work was ancillary to its main purpose of advancing education, but the board was unconvinced.

Not sure of the boundary between essential and non-essential is but I guess it depends on one's POV.

KASM doesn't have deep pockets at the moment, according to the article, link below. I expect they were hoping to attract more tax deductible donations as a charity.

http://www.scoop.co.nz/stories/BU1701/S00035/kiwis-against-seabed-mining-lobby-denied-charitable-status.htm

[upfrontal]

Just sold the last of my stock in this company.
Anyone who holds shares, my advice is get out before the reverse listing goes through.
The poor shmucks left holding CRP shares will see 69 of their CRP shares being swapped for one AXG share, have a look at what the large holders in that company are getting:

Ernst Schonbachler held 69.6 million CRP and will now be holding 53.3 million AXG shares
George Pau and Happy Sim held 128 million CRP shares and will now be holding 84 million shares

Get out now is all I can say, get out now.........

It will be interesting to see if the takeover will go through if the share price remains below 0.6c, that is what the large shareholders paid for their shares.
It is obvious that some back room deals have been done, whether there are caveats re the share price remains to be seen.....

[Brain]

Do not under any circumstances swim with sharks.

[Food4Thought]

Do not under any circumstances swim with sharks.

Ha. I like it...

On another note. I'd rather swim with actual fish eating sharks ...

[Balance]

Ha. I like it...

On another note. I'd rather swim with actual fish eating sharks ...

Yup - swimming in CR(A)P is not recommended under any circumstances!

[Jerry]

Is there not a stock market rule against giving preferred investors a different price? Ingenuous question, but this hacks me off.

[Food4Thought]

Yup - swimming in CR(A)P is not recommended under any circumstances!

I always get a good laugh from everyone who has a personal opinion on CRP. Especially the negative ones. The negative ones far outweigh the positive ones. Let the preferred investors throw some more money away and protect the uninformed and misguided. What a joke.

CC living the dream in Golden Bay. What blows my mind, why would he not try run a company that would do the world some good and progress. Solar, renewable, advocate for hemp and grow a field. Have some Golden Bay green tea and take a tour of Tui community and live a better life.

What a CRP investment.

[artemis]

Potentially positive development for CRP in the TTR application before the EPA. Timeframe extended and more information requested by the DMC. So not an outright refusal / approval, which might indicate approval with conditions. Or not.

Opposing groups are not happy and considering a judicial review or similar of what they say is a flawed process. The groups seem to think that by requesting more information the DMC is completing and in effect proving the TTR case.

[Jerry]

What's going on now? the price is suddenly 64c on the NZX. I thought it had washed up and gone to Canada. The price has been just a few cents, yet the NZX has the two year low bottoming at 41 cents in April.

[NeverQuestion]

What's going on now? the price is suddenly 64c on the NZX. I thought it had washed up and gone to Canada. The price has been just a few cents, yet the NZX has the two year low bottoming at 41 cents in April.

AXG and CRP decided to merge and as per that merger there was a share consolidation. Happened feb this year..

[Lola]

Potentially positive development for CRP in the TTR application before the EPA. Timeframe extended and more information requested by the DMC. So not an outright refusal / approval, which might indicate approval with conditions. Or not.

Opposing groups are not happy and considering a judicial review or similar of what they say is a flawed process. The groups seem to think that by requesting more information the DMC is completing and in effect proving the TTR case.

DMC decision on TTRL application due by end of this month (30/6)

[SilverBack]

All I can say about CRP, is "God protect the Canadians (and the Frankfurters)"; NZ'ers should know better by now.

[Joshuatree]

Haha . Yes ,CRP is a rinse and repeat company; has done this successfully over and over; sucking in fresh meat. Can't see anything changing except they may run out of luck and accidentally have a successful business for shareholders one day:t_up:. IMO.

[artemis]

DMC decision on TTRL application due by end of this month (30/6)

Now 27 July.

[cammo]

TTR have gained consent!

[whatsup]

TTR have gained consent!

where is ttr listed

[ziggy415]

where is ttr listed

trans tasman resources...not sure if listed tho

[whatsup]

trans tasman resources...not sure if listed tho

I know that but cannot find a listing, C C will post Im sure , in my opinion a massive long shot for CRP !

[ziggy415]

I know that but cannot find a listing, C C will post Im sure , in my opinion a massive long shot for CRP !

I feel a cash raising coming on...........modus operandi for cc

[artemis]

I know that but cannot find a listing, C C will post Im sure , in my opinion a massive long shot for CRP !

Yes, a long shot. But there has been a sea change in the EPA approach - previously just a yes or a no for TTR and also CRP. There was a change in personnel and some 'ministerial direction' after the two decsions which would have influenced the change. Approved with conditions but still a split decision.

[artemis]

I feel a cash raising coming on...........modus operandi for cc


Announced before the EPA decision.

Nope sorry, that is AOR.

[ziggy415]

Announced before the EPA decision.

Nope sorry, that is AOR.

not cheep to fly from nelson to wellywood every day for work

[winner69]

TTR have gained consent!

Shameful decision by EPA

Being appealed - it will be overturned

[artemis]

Shameful decision by EPA

Being appealed - it will be overturned

I think an appeal has to be on questions of law. The DMC will have taken advice.

Over a hundred conditions - I glanced over some. They look quite quite onerous, though most were proposed by TTR. And include ongoing consultation with iwi. One of which has announced today it will not cooperate.

When you look at the map, the area is a tiny speck in the EEZ. Not going to be the end of the world to use this valuable resource. It may turn out a disaster, or the environmental impact maybe minimal. One way to find out.

[upfrontal]

CRP news now gets sent to my junk folder, every now and again I go through and found this from yesterday (CRP update newsletter)

Chatham is about to launch various fund-raising initiatives including the likelihood of an offer to our existing ~ 1,500 shareholders. This will enable our legions of Mum and Dad investors to participate once again and will be the eighth such issue offered to our loyal supporters since 2010. Other funding will be sought, probably by means of private placements, in Asia, Europe and Canada.

Good on you Chris, one fund raising each year since 2010.
How many other listed companies ask their shareholders for more money and more dilution of their stock each year?
Now you have broken into the Canadian sharemarket I would recommend you think about the opportunities for selling ice to the Eskimos, you seem to have a gift of selling the unsellable.......

[barleeni]

CRP news now gets sent to my junk folder, every now and again I go through and found this from yesterday (CRP update newsletter)

Chatham is about to launch various fund-raising initiatives including the likelihood of an offer to our existing ~ 1,500 shareholders. This will enable our legions of Mum and Dad investors to participate once again and will be the eighth such issue offered to our loyal supporters since 2010. Other funding will be sought, probably by means of private placements, in Asia, Europe and Canada.

Good on you Chris, one fund raising each year since 2010.
How many other listed companies ask their shareholders for more money and more dilution of their stock each year?
Now you have broken into the Canadian sharemarket I would recommend you think about the opportunities for selling ice to the Eskimos, you seem to have a gift of selling the unsellable.......

It almost sounds like bragging, the man should be arrested. "the eighth such issue offered to our loyal supporters" almost sounds like hes doing us supporters a favour(or in my case ex-supporter)!

FYI, my very small investment of a few years ago ($1,500 NZD) is currently worth $67.

[artemis]

Risk v reward. It is a risky one, for sure, but if the new EPA application succeeds rewards will be great. barleeni, maybe you could tip in another $67 for a punt.

[artemis]

Sea bed experiments to be conducted at Chatham Rise to deternine environmental effects of seabed disturbance.

In an MBIE-funded effort to learn more about the impacts, scientists will deploy at least nine high-tech instruments on the seabed on the Chatham Rise - the area off the Canterbury coast where one company has plans to mine phosphate.

www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12045760

[winner69]

Sea bed experiments to be conducted at Chatham Rise to deternine environmental effects of seabed disturbance.

In an MBIE-funded effort to learn more about the impacts, scientists will deploy at least nine high-tech instruments on the seabed on the Chatham Rise - the area off the Canterbury coast where one company has plans to mine phosphate.

www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=12045760

I hope that once and for all they demonstrate that seabed mining in this part of the world (particulary phospates in the Chatham Rise) was just one daft idea and should never never gone ahead

Hope I dont need to dust off my submission

[Food4Thought]

I hope that once and for all they demonstrate that seabed mining in this part of the world (particularly phospates in the Chatham Rise) was just one daft idea and should never never gone ahead

Hope I dont need to dust off my submission

Certainly, hope this never goes ahead. (sorry investors)

I have always pondered the thought that CC has no intention of this ever going ahead. Getting paid through raising capital via CRP as a device. He has to be well and truely into his retirement years. CC was/is living in one of New Zealands most desirable locations. Golden Bay is a beautiful, natural place. It could all simply be a masterminded charade. That has potential... makes more sense.

Most of the ventures from the NZX he has taken part in have been excited and then fizzled.
(from what I can tell, the money is raised, the value of the shares decrease, and more money is raised)

Here is something worth pondering about for the investors, would be investors and anyone with interest.

http://www.onekakalinks.com/
A wonderful looking Golf Course in an idyllic setting... ( Can't confirm CRP Chris Castle vs Onekaka Links Chris Castle ) How ever CC does have his CRP address in Onekaka. Aorere Resources.
This part of New Zealand has a particular large space in my heart as I visited Golden Bay on many adventures. Can totally understand why you would want to retire and live here.


And an earlier article.
https://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=11127887


Happy reading and pondering

[Sideshow Bob]

It does say have the email is chris@widespread.co.nz

Golf course looks pretty cool - have your own little golf course to potter around on, design, finetune and then tender off opportunities to play 30 days per year, average tender is $2k so $60k per annum to help wash its face. Many golf clubs in NZ wouldn't have income of $60k per annum (plus ?? from 16 members).

Beats trying to pull up minerals out of the middle of the ocean or capital raise from investors!

[barleeni]

Refer Food4Thoughts post #1127.

Now refer todays announcement:

https://www.nzx.com/announcements/319729

Somebody lock this man up!!!!!! How does he sleep at night!!???!! (probably very well, on a bed he didn't pay for, in a mansion he didnt earn...)

[whatsup]

Looks like C C has the Maori from the Chathams on board now so he has not given up on his dream.

[Sideshow Bob]

https://www.nzx.com/announcements/337238

No update on Chris' golf course/handicap.

[winner69]

So for the quarter $66k in management and consultancy fees and $23k in travel as well as $28k in legal bills. Income was just under $2k ...Canadian $ too

Suppose that’s how capital markets are meant too work

Hope his Chatham project never happens

[Sideshow Bob]

CRP to the rescue!

https://www.nzx.com/announcements/340936

[peat]

CRP to the rescue!

https://www.nzx.com/announcements/340936

yeh saviours of the farmers - time to blow a trumpet!!

no one will ever let them dig up the sea bed and spew it back, it will never happen.

even though they may well be right about the reduction in leaching that their special phosphate would allow.

[whatsup]

What is going on with CRP these days, every day there has been approx. $1000 of shares trades, the s p has moved off the .15 range to .20 now, is there something we should know ?

[Balance]

What is going on with CRP these days, every day there has been approx. $1000 of shares trades, the s p has moved off the .15 range to .20 now, is there something we should know ?

Yup - sucking in the naive & lemon chewers.

[whatsup]

Yup - sucking in the naive & lemon chewers.

Bal , DO NOT knock it I trades this year, .15 sold at .20 not bad in this market , now at .21 whatsup ?

[Balance]

Bal , DO NOT knock it I trades this year, .15 sold at .20 not bad in this market , now at .21 whatsup ?

Yup, exactly like the backdoor trades right?

Draw attention, ramp 'em up and shove 'em out to trade out?

CC has never made a dollar for anyone except himself and his cronies - fact.

[tim23]

Yup - sucking in the naive & lemon chewers.

Hardly enough volume to get excited about...

[Sideshow Bob]

https://www.nzx.com/announcements/345240

Again no update on golf handicap/course.

On a serious note, the money tin is looking pretty empty, and based on the past 6 months, will need a capital raise early in the New Year.

[Joshuatree]

Yup, exactly like the backdoor trades right?

Draw attention, ramp 'em up and shove 'em out to trade out?

CC has never made a dollar for anyone except himself and his cronies - fact.

Not forgetting his wife and company secretary and maybe director and the frequent flight commutes back and forth from welly to near his place(picton Air) or does he fly himself, all paid by the company from memory.

[stoploss]

Not forgetting his wife and company secretary and maybe director and the frequent flight commutes back and forth from welly to near his place(picton Air) or does he fly himself, all paid by the company from memory.

wellington Picton on Sounds Air only $ 59.00 , Taxi to the airport probably more .....( uber obviously less )

[Joshuatree]

Thanks mac for your disclosure
Last ann report

consultancy fees $498,126 Do they do any of this ?

Directorsfees $49,000

Gen exp $41,269

Management fees $180,000

Office $52,733

Rent $26,385

TRAVEL $229,060 chris and linda live in golden bay above the sea. Office is in wellington where they stay during the week and they are the only 2 that run it? Expensive place to travel from, Takaka twice a week by the looks.

Int free loans Yes but not much this year more in 2012

payment to Nevay holdings ? $459,400 c castle and l saunders

Aorere Holdings and subsea check cross hoildings etc.

Options issued check.
Please check accuracy for yourself. check history of widespread,dilution , issues of shares ,etc amount of fees of all sorts, clipping the ticket.

This was in 2013!

[winner69]

As long as he dreams of something that will never happen it’s all OK

[Balance]

As long as he dreams of something that will never happen it’s all OK

Simply amazing how long he can drag the dream out by getting funds from others while paying himself heaps in consultancy and management fees huh? :t_up::t_up::D

[Sideshow Bob]

Simply amazing how long he can drag the dream out by getting funds from others while paying himself heaps in consultancy and management fees huh? :t_up::t_up::D

Golf handicap on the up, started year on 7.1, now on 9.4. Played about 85 rounds of golf so far this year.

Hard life being a CEO of listed company. Something to aspire to - I've only played about 20. ;)

[winner69]

Chris got his cash in time for Christmas

https://quoteapi.com/resources/da9866271f9d0071/announcements/crp.nzx/346458/CRP_Chatham_Rock_Closes_First_Tranche_of_Private_P lacement.pdf

[whatsup]

Takers did not complete on time so placement extended until 31/1/20, come on C C step up to the plate and buy the shortfall, thereby paying for your own salary, sign of your confidence in CRP !

[Sideshow Bob]

Golf handicap on the up, started year on 7.1, now on 9.4. Played about 85 rounds of golf so far this year.

Hard life being a CEO of listed company. Something to aspire to - I've only played about 20. ;)

Handicap update.....not too much golf over Xmas/NY. Only 7 rounds since last report, and handicap back down to 8.6.

[k14]

Handicap update.....not too much golf over Xmas/NY. Only 7 rounds since last report, and handicap back down to 8.6.
Geez, if I lived on my own private golf course I'd get in more rounds than that!

[Sideshow Bob]

Geez, if I lived on my own private golf course I'd get in more rounds than that!

Well he played over 90 rounds in 2019! Not bad going!!

[k14]

Well he played over 90 rounds in 2019! Not bad going!!
I managed 40 and have two kids under the age of 6, a fulltime job and don't own my own course :) Maybe replying to all his emails takes up the rest of his day?

[Sideshow Bob]

I managed 40 and have two kids under the age of 6, a fulltime job and don't own my own course :) Maybe replying to all his emails takes up the rest of his day?

40 is respective - roughly 3 rounds every 4 weeks. Slightly older kids, also work full-time and surprisingly don't own my own golf course - get in about 20, perhaps a few more.

Instead of emails, maybe he is cutting the greens?? :p

[Balance]

https://www.nzx.com/announcements/347442

$25k fine for not keeping NZ market informed at same time as in Toronto Exchange.

How surprising!

In other words - NZ shareholders and NZX can get stuffed now that CR(A)P has another market to extract $$$$ from.

Shareholders in NZX getting exactly what they deserve - imagine having to pay the fine on behalf of the directors telling them to get stuffed! :t_up:

[winner69]

Chris has a ‘roadmap’

Roadmaps are good ..last roadmap I saw was one from Plexure and we know what’s happened there

If Chris manages to get the cash I’ll still be down at the hearing vehemently opposing any consent.

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/CRP/348113/316364.pdf

[artemis]

In the news today -

"The Western Sahara independence movement is taking court action against the New Zealand Super Fund over its investment in farms, which use phosphate mined in the disputed region.....

.... The Ministry of Foreign Affairs and Trade has said New Zealand companies should be looking for alternatives to phosphate and companies importing from Western Sahara did so at their own risk."

https://www.rnz.co.nz/news/business/411068/western-sahara-independence-movement-takes-nz-super-fund-to-court

[Sideshow Bob]

What are their chances (of raising cash)…...


CHATHAM ROCK PHOSPHATE LIMITED
PRIVATE PLACEMENTWELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and NZAX: “CRP” or the “Company") needs to raise further working capital to keep the company in good standing as we continue to pursue our objective of securing a new cornerstone investor to fund our environmental permit reapplication. Accordingly the Company is proceeding with a non-brokered private placement of up to 5,000,000 units (the “Units”) at a price of CAD $0.08 per Unit (NZ$0.10) for gross proceeds of up to CAD $400,000, (NZD $500,000) subject to regulatory approvals. This level of funding will sustain the company, which is continuing to operate on a shoestring budget, into Q2, 2021 during which period our main focus will be on securing a business partner to work with us. Each Unit will consist of one common share in the capital of the Company and one (1) transferable share purchase warrant (“Warrant”), transferable subject to applicable securities legislation. Each Warrant will entitle the holder thereof to acquire one common share at a price of CAD $0.45 (NZ$0.53) per share at any time prior to the date that is five (5) years from the date of issuance. In the event that the common shares of the Company trade on the TSX Venture Exchange at a closing price of greater than CAD $0.60 (NZ$0.71) per common share for a period of 20 consecutive trading days at any time after four months and one day after the closing date of the private placement, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof by way of a news release and in such case the Warrants will expire on the 30th day after the date of dissemination of such news release. The common shares and Warrants issued pursuant to this proposed offering are subject to a hold period of four months plus one day after the closing dates of the offering as provided by securities legislation.Finders’ fees may be payable in cash to arm’s length parties in connection with this placement as permitted under the policies of the TSX Venture Exchange. The private placement is subject to the acceptance by the TSX Venture Exchange and is expected to close on or before May 15, 2020.For further information please contact:Chris Castle
President and Chief Executive Officer
Chatham Rock Phosphate Limited

[youngatheart]

Waste of time. Meaningful achievements to date : practically zero. See Castles other business, AOR. SP at the lowest possible price on the NZX, 0.001 with no buyers says it all really.

[Sideshow Bob]

Waste of time. Meaningful achievements to date : practically zero. See Castles other business, AOR. SP at the lowest possible price on the NZX, 0.001 with no buyers says it all really.

Meanwhile, still playing on his private golf course during lockdown.....

https://www.golf.co.nz/MyGolf/default.aspx?memberid=134050&code=1136206562

[jonu]

What are their chances (of raising cash)…...


CHATHAM ROCK PHOSPHATE LIMITED
PRIVATE PLACEMENTWELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and NZAX: “CRP” or the “Company") needs to raise further working capital to keep the company in good standing as we continue to pursue our objective of securing a new cornerstone investor to fund our environmental permit reapplication. Accordingly the Company is proceeding with a non-brokered private placement of up to 5,000,000 units (the “Units”) at a price of CAD $0.08 per Unit (NZ$0.10) for gross proceeds of up to CAD $400,000, (NZD $500,000) subject to regulatory approvals. This level of funding will sustain the company, which is continuing to operate on a shoestring budget, into Q2, 2021 during which period our main focus will be on securing a business partner to work with us. Each Unit will consist of one common share in the capital of the Company and one (1) transferable share purchase warrant (“Warrant”), transferable subject to applicable securities legislation. Each Warrant will entitle the holder thereof to acquire one common share at a price of CAD $0.45 (NZ$0.53) per share at any time prior to the date that is five (5) years from the date of issuance. In the event that the common shares of the Company trade on the TSX Venture Exchange at a closing price of greater than CAD $0.60 (NZ$0.71) per common share for a period of 20 consecutive trading days at any time after four months and one day after the closing date of the private placement, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof by way of a news release and in such case the Warrants will expire on the 30th day after the date of dissemination of such news release. The common shares and Warrants issued pursuant to this proposed offering are subject to a hold period of four months plus one day after the closing dates of the offering as provided by securities legislation.Finders’ fees may be payable in cash to arm’s length parties in connection with this placement as permitted under the policies of the TSX Venture Exchange. The private placement is subject to the acceptance by the TSX Venture Exchange and is expected to close on or before May 15, 2020.For further information please contact:Chris Castle
President and Chief Executive Officer
Chatham Rock Phosphate Limited

Fools and their money. How about a crack at a finder's fee? Anybody keen to stump up 500k to keep Mr Castle's golf handicap down? Get in touch and I'll put you both in touch. I only want 10% off the top. And let's face it...that's less than Mr Castle.

[ynot]

Can anyone advise the CRP link if any to glass earth.
I had some Glass Earth in my bottom draw. I thought they went bust and that was last I new. I now find I may own CRP. can someone fill me in here ?

[gonzo56]

Can anyone advise the CRP link if any to glass earth.
I had some Glass Earth in my bottom draw. I thought they went bust and that was last I new. I now find I may own CRP. can someone fill me in here ?

I can't advise you on the exact details of what happened, but yes, you do own some CRP now (as a result of your Glass Earth shares).

[Joshuatree]

CC will before too long come up with another grand idea and it will be rinse and repeat imo with a whole lot of new suckers, he has done this successfully for quite some years now and he and Linda have made an awesome living and lifestyle. Why change a winning formula.

[artemis]

CRP will be dismayed at the Court of Appeal's decision. Time to flag NZ operations? Pity, we are going to need all the economic growth we can lay our hands on.

"Trans Tasman Resources (TTR) have lost their appeal against a High Court decision which stopped them mining iron sands from the Taranaki seafloor.

"I think this sends a powerful message that New Zealand waters are not open for business by sea bed miners," said Baxter."

https://www.newshub.co.nz/home/new-zealand/2020/04/court-of-appeal-bans-mining-company-from-trawling-taranaki-seafloor.html

[whatsup]

CRP will be dismayed at the Court of Appeal's decision. Time to flag NZ operations? Pity, we are going to need all the economic growth we can lay our hands on.

"Trans Tasman Resources (TTR) have lost their appeal against a High Court decision which stopped them mining iron sands from the Taranaki seafloor.

"I think this sends a powerful message that New Zealand waters are not open for business by sea bed miners," said Baxter."

https://www.newshub.co.nz/home/new-zealand/2020/04/court-of-appeal-bans-mining-company-from-trawling-taranaki-seafloor.html

No one has yet proved or disproved that sea bed in good /bad for the environment !

[winner69]

CC will before too long come up with another grand idea and it will be rinse and repeat imo with a whole lot of new suckers, he has done this successfully for quite some years now and he and Linda have made an awesome living and lifestyle. Why change a winning formula.

Chris might have hit jackpot ..maybe not

https://quoteapi.com/resources/da9866271f9d0071/announcements/aor.nzx/351271/AOR_Acquisition_of_All_Industrial_Network_Limited. pdf

[Marilyn Munroe]

Chris might have hit jackpot ..maybe not

https://quoteapi.com/resources/da9866271f9d0071/announcements/aor.nzx/351271/AOR_Acquisition_of_All_Industrial_Network_Limited. pdf

When I clicked on the link I got an error with the message;

{"status":403,"code":"FORBIDDEN","message":"Not allowed from referer www.sharetrader.co.nz"}

To circumvent this "forbidden" right click with your mouse on the link in ShareTrader. Choose copy link location from the drop down menu.

With your browser hold down the Ctrl and Shift keys and strike the P key. this should activate your browsers privacy window.

Paste the saved link into the private windows link bar.

Boop boop de do
Marilyn

[Joshuatree]

Right on Cue, complete with the usual name change strategy.;)

"Acquisition of All Industrial Network Limited – Reverse ListingAorere Resources Limited (AOR) is pleased to announce that it has entered into an agreement to acquire an Australian company, All Industrial Network Limited (AIN) for a purchase price of approximately NZ$53 million, to be paid through an issue of new AOR shares (the Acquisition)."




"Following the Acquisition, AOR intends to change its name to SMW Group Limited (NZX: SMW). The existing AOR directors will resign (other than Chris Castle and Jill Hatchwell who will continue as directors) and new directors Christopher Leon, John Trenaman, Oliver Sabu and Greg Kern will be appointed."
https://quoteapi.com/resources/da986...rk_Limited.pdf (https://quoteapi.com/resources/da9866271f9d0071/announcements/aor.nzx/351271/AOR_Acquisition_of_All_Industrial_Network_Limited. pdf)

[Sideshow Bob]

Sell your company for $53m worth of shares in a company where they are worth $0.001 per share.

How many zero's is that? :confused:

What am I missing....?? :confused::confused:

[winner69]

Sell your company for $53m worth of shares in a company where they are worth $0.001 per share.

How many zero's is that? :confused:

What am I missing....?? :confused::confused:

Theres going to be a huge share consolidation before the deal settles.:p:eek2:

[whatsup]

Sell your company for $53m worth of shares in a company where they are worth $0.001 per share.

How many zero's is that? :confused:

What am I missing....?? :confused::confused:


Are they this desperate for a listing and a N Z one at that, there are far easier shell available in Aussie atm !!!

[nztx]

Theres going to be a huge share consolidation before the deal settles.:p:eek2:


but the enthusiatic punters will still retain their pro-rata share of the existing CRP action via in-specie new shares
allocated in the subsidiary it appears

there's going to be a lot of very very small punters holdings in the shell hocked off, presumably just as memo entries
to retain a listing

It may be disappointing that the Board didn't secure a larger bite of the new action for the punters, but then
how many of the Directors have secured a new source of income out of this ?

[Lola]

CRP will be dismayed at the Court of Appeal's decision. Time to flag NZ operations? Pity, we are going to need all the economic growth we can lay our hands on.

"Trans Tasman Resources (TTR) have lost their appeal against a High Court decision which stopped them mining iron sands from the Taranaki seafloor.

"I think this sends a powerful message that New Zealand waters are not open for business by sea bed miners," said Baxter."

https://www.newshub.co.nz/home/new-zealand/2020/04/court-of-appeal-bans-mining-company-from-trawling-taranaki-seafloor.html

I dont read it the way Baxter puts it. My reading of the non decision is that it gets referred back to the committee who granted the licence in the first place and have them interpret the regulations. So much for learned gentlemen and lady. Oh well who cares really about jobs or wealth creation, just hand me a surf board and a number I can call to get some dope.

[Sideshow Bob]

More cash...….


Chatham advises of further private placement
8/5/2020, 8:30 amOFFER
NEWS RELEASE 20-06 May 7, 2020
CHATHAM ROCK PHOSPHATE LIMITED
PRIVATE PLACEMENT
WELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and NZAX: “CRP” or the “Company") recently sucessfuly raised further working capital to keep the company in good standing as we continue to pursue our objective of securing a new cornerstone investor to fund our environmental permit reapplication.
Based on the success of the financing that has just closed, the Company is proceeding with a further non-brokered private placement of up to 12,500,000 units (the “Units”) at a price of CAD $0.08 per Unit (NZ$0.10) for gross proceeds of up to CAD $1 million (NZD $1.25 million) subject to regulatory approvals. Significantly, the Company has partnered with Stockhouse as part of this fundraising initiative and we expect that their global reach will materially assist CRP in reaching our target.
This level of funding will sustain the company well into 2021 during which period our main focus will be on advancing our Chatham Rise project while securing a business partner to work with us.
Each Unit will consist of one common share in the capital of the Company and one (1) transferable share purchase warrant (“Warrant”), transferable subject to applicable securities legislation. Each Warrant will entitle the holder thereof to acquire one common share at a price of CAD $0.45 (NZ$0.53) per share at any time prior to the date that is five (5) years from the date of issuance.
In the event that the common shares of the Company trade on the TSX Venture Exchange at a closing price of greater than CAD $0.60 (NZ$0.71) per common share for a period of 20 consecutive trading days at any time after four months and one day after the closing date of the private placement, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof by way of a news release and in such case the Warrants will expire on the 30th day after the date of dissemination of such news release.
The common shares and Warrants issued pursuant to this proposed offering are subject to a hold period of four months plus one day after the closing dates of the offering as provided by securities legislation.
Finders’ fees may be payable in cash to arm’s length parties in connection with this placement as permitted under the policies of the TSX Venture Exchange. The private placement is subject to the acceptance by the TSX Venture Exchange and is expected to close on or before June 24, 2020.
For further information please contact:
Chris Castle
President and Chief Executive Officer
Chatham Rock Phosphate Limited
64 21 55 81 85 or chris@crpl.co.nz

[winner69]

Working under lockdown must be hard for him

[Sideshow Bob]

Missed the latest announcement yesterday....

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/CRP/357158/327416.pdf

To end of March, so definitely needed those funds raised in May/June to keep the company afloat......and the grass cut.

[Nor]

https://m.phnompenhpost.com/business/japan-unearths-rare-metals-needed-make-batteries

[Ferg]

This is almost a Monty Python skit - we need to raise some working capital to find a cornerstone investor to do some research to apply for a licence, to do an exploratory study to see if the mining is still feasible, some years after existing permits been cancelled but don't mind that - oh look..... Namibia! It is laughable.

[Nor]

It's only regulation that stands in it's way. Not economics or feasibility. Like all mining activities the return generated from the area involved is much greater than that from agriculture (fishing) and the area involved (footprint) is tiny compared to that devoted to agriculture or fishing.

[Getty]

Sell your company for $53m worth of shares in a company where they are worth $0.001 per share.

How many zero's is that? :confused:

What am I missing....?? :confused::confused:

ITS NOT ANY ZEROS that are missing.

Its an A in the company code.

I'll let you decide where it fits

Afterall, it is a fertilizer company.

[Sideshow Bob]

ITS NOT ANY ZEROS that are missing.

Its an A in the company code.

I'll let you decide where it fits

Afterall, it is a fertilizer company.

Indeed. What we need to buy-in and then start pumping CRaP on elsewhere for it to become the next BGI or CBD....

[artemis]

Interesting announcement to the market today.

"Phosphate fertilizer prices in the U.S. corn belt had their biggest quarter
in a decade as buyers cope with a supply shock caused by potential import
duties against Morocco and Russia. "

Meanwhile in New Zealand we have a large concentration of v low cadmium phosphate in our rather large EEZ. If only we are allowed to access it.

Also meanwhile, the TTR ironsands extraction project drags on through the courts, next hearing in November. There is a map at the below link showing how small an area is involved. One would think Taranaki would be keen to create jobs and revenue.

https://www.stuff.co.nz/national/politics/opinion/122932829/questionable-moves-to-reform-the-resource-management-act

[Brain]

I see that the NZSA are voting all their undirected proxy’s against Chris Castle being elected as a director. They say that he does not have the skills required.

Well done NZSA.

[nztx]

CRP looks to do French Polynesia

A bit sparse on facts & financials but even so about 5,000 times better on info than NTL manage in places
with almost the full version bible being produced : ;)

Hope travel by row boat, Chris's pet project mini submarine, or canoe is allowed to go over there .. ;)


https://www.nzx.com/announcements/365515

'22/12/2020, 2:00 pm TRANSACT

NEWS RELEASE 20-13 December 21, 2020

CHATHAM ROCK PHOSPHATE PROPOSES MERGER
WITH PHOSPHATE COMPANY AVENIR MAKATEA

WELLINGTON New Zealand – Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX: “CRP” or the “Company") wishes to advise with great pleasure we have successfully concluded negotiations to acquire French Polynesia-based Avenir Makatea Pty Limited.

The merger of these New Zealand and French Polynesian companies was negotiated at arm’s length and will result in the formation of a new environmentally and culturally sound phosphate company.

Chatham Rock Phosphate is the developer of the undersea Chatham Rise phosphate project to recover phosphorite nodules while Avenir Makatea is progressing the recovery of phosphate from the island of Makatea to enable the rehabilitation of the island.

Chatham Rise phosphate provides the only domestic phosphate source for New Zealand and its development is of national significance. CRP, in working towards the reapplication for an environmental consent for the project, is involving all stakeholders and importantly the directly interested Māori community. The phosphate from Chatham Rise is a reactive phosphate low in cadmium and competitive with current fertilisers used in New Zealand.

This C$1.455 (A$1.5m) acquisition, subject to certain conditions including TSX.V approval, will be achieved through an issue of CRP shares. Depending on the outcome of the present financing by CRP and the issue price of the CRP shares the vendors of Avenir Makatea will then hold approximately 28% of the enlarged capital.

The merging of our interests with those of Avenir Makatea is a particularly exciting development for CRP and could be described as a game changer for both parties.

About Avenir Makatea

Avenir Makatea has since 2010 been working closely with the many landowners of Makatea as well as the residents of the Commune of Rangiroa and the Government of French Polynesia to use the recovery of phosphate as the means to rehabilitate the previously mined land. At the same time the company has worked to create long term sustainable development of the island by way of development of eco-tourism.

The phosphates to be recovered from both projects are low in cadmium and earn a premium in the market. Avenir Makatea has advanced its marketing, including Organic Materials Review Institute (OMRI) certification enabling the Makatea phosphate to be sold into the US and Canadian organic market. Makatea phosphate samples have been already supplied to Australian potential major customers, while delivery of samples for New Zealand potential customers are currently waiting lifting of Covid-19 restrictions to re-establish travel connections between Tahiti and New Zealand.

The development of the Makatea Project has progressed administratively step by step through:

• applying for an Exclusive Research Permit (ERP) in 2013
• a public inquiry leading to grant in 2014 of the Exclusive Research Permit
• applying for a Mining Concession in 2016
• the passing of the New French Polynesian Mining Code in 2019
• the promulgation of the Mining Code Regulations in 2020 and
• the promulgation of the New French Polynesian Fiscal Code for Extractive Industries in 2020.

The next steps involve the public inquiry, leading to a recommendation from the Mining Committee to the Council of Ministers, with the expectation of the grant of the 50-year Mining Concession in December 2021.

Avenir Makatea’s progress toward development has recently been adversely affected by the travel and product freighting restrictions caused by Covid19, hence the logic of a merger with CRP, a TSX.V, NZX and Frankfurt Bourse listed entity in the same part of the phosphate market and with a proven capital raising record for the last decade.

CRP has followed the progress of Avenir Makatea since 2015, and sees the key benefits to CRP in merging interests being the broadening of our phosphate rock portfolio to include an onshore development and the ability to quickly advance the Avenir Makatea project towards production (and operating cashflows) in a shorter time frame than our Chatham Rise project.

We presently expect the conditions required to be satisfied will be met and the proposed transaction finalised in Q1, 2021.

The Makatea Resource

Makatea is an elevated island, 240km north of Tahiti in French Polynesia, covering an area of 4km by 6km with 70m cliffs and interconnected freshwater filled caves under the island.

Over a third of the island was mined by hand for phosphate sands by Compagnie Francaise des Phosphates de l’Oceanie (“CFPO”) from 1906 to 1966, resulting in the extraction and export of 11 million tonnes (“Mt”) of phosphate sands. These operations were never rehabilitated and have left behind over 1 million holes, rendering the scarce land on the island unsuitable for habitation or any other use.

Rehabilitation of abandoned mines is ultimately the responsibility of the Government of French Polynesia. Land-owners of Makatea want the land to be rehabilitated to provide living space for a community displaced by rising sea levels. On a stand-alone basis the cost of rehabilitation of the 1100 ha of mined land would be US$100-150 million.

Environmental, Economic and Social Benefits

The Project offers a unique opportunity for responsible investment that combines attractive potential returns from an economic mining project with tangible environmental and social benefits from a responsible environmental rehabilitation effort.

It will establish a mining operation to produce a phosphate product for export, while repairing the historic environmental damage that has created an unusable landscape and to return the land to the original landowners.

The Project will also bring a variety of economic and social benefits to the island of Makatea, the Commune of Rangiroa (the “Commune”, includes Rangiroa, Makatea, Mataiva and Tikehau) and more widely to all of French Polynesia. Avenir Makatea will provide employment and training, support education and deliver a range of community development initiatives designed to create a long-term sustainable community that can continue to thrive long after the Project has ended.

Strong Community and Government Support

Avenir Makatea has worked on the Project exclusively since January 2011, investing around US$4.26 million to date, fostering strong support for the Project from the community, the French Polynesian Government and the Republic of France.

The Commune of Rangiroa showed its support for the Project by the signing of a Protocole d’Accord in 2011. The French Polynesian Government has also supported the Company’s efforts, granting Avenir Makatea the Exclusive Research Permit (“ERP”) over the entire historic mining area on Makatea for 3 years, and automatically extended until the authorization is granted or denied.

The public inquiry process (part of the ERP application) undertaken by the French Polynesian Government was completed on 14 February 2013 and recorded significant community support in favour of the Project.

Straightforward Permitting Process

The French Polynesian Government has also granted Avenir Makatea the exclusive right to apply for a Mining Concession (a period of up to 50 years). Upon lodging the Mining Concession Application, a 1-month public enquiry period will start. The results go to the Mining Committee to make a recommendation to the Council of Ministers that then makes a recommendation to the President. Avenir Makatea expects to lodge its Mining Concession Application in June 2021and expects the grant of the 50-year Mining Concession to be issued December 2021.

Substantial Resource

The initial diamond drilling and sampling programme in August 2014, together with the extensive mapping and strip sampling that followed in April-May 2015 have confirmed the presence of previously unmined bedded phosphate as well as phosphate sands not recovered in the historic mining area.

Simple Operations

The Project will use simple open cut mining with no processing of rock phosphate required apart from crushing, screening and drying. Straightforward logistics will move product from the mine site to a deep sea port 2-4km away. The introduction of a ship-loader in 2023 together with an upgrade of infrastructure capacity will see operations materially expand in scale.

High Quality Product

Analyses of 147 samples confirmed the same high quality of the phosphate in the bedded deposit as in the previously mined phosphate sands. Makatea phosphate is of a high grade (30-38.5% P2O5) with an indicative specification of 35% P2O5. Low impurity levels mean the Makatea phosphate is a promising candidate for sale into the organic market where it can command prices significantly higher than benchmark prices for the same grade of phosphate.

Robust Project Economics

The ongoing Feasibility Study, based on simple open-cut mining with no processing other than crushing, screening and drying, demonstrates strong economics due to the Project’s long life and scale, the high quality of the phosphate, and the low capital and operating costs.

About Chatham Rock Phosphate

Chatham Rock Phosphate is the custodian of New Zealand’s only material resource of ultra-low cadmium, environmentally friendly pastoral phosphate fertiliser.

The resource represents one of New Zealand’s most valuable mineral assets and of huge strategic significance because phosphate is essential to maintain New Zealand’s high agricultural productivity.

New Zealand’s current access to phosphate is vulnerable to economic and political events in the six countries controlling 98% of the world’s traded phosphate reserves, with 85% of the total in Morocco and neighbouring state the Western Sahara.

Chatham takes very seriously the responsibility vested in it through its granted mining permit to use the world’s best knowledge and technology to safely extract this resource to help sustainably feed the world.

Our initial environmental consenting process independently established extraction would have no significant impact on fishing yields or profitability, marine mammals or seabirds.

Our project ticks all the boxes: environmental, health, ethical, security of supply, economic, regional development, rare earths and other green minerals

 Our rock is a proven reactive phosphate rock. Using it results in much less run-off into waterways and an improved soil profile compared with the effects of manufactured fertilisers.
 It’s an organic fertiliser with no additives and with the only processing being grinding and possible pelletisation
 It contains ultra-low levels of cadmium, a cancer-causing heavy metal with much greater concentrations in other rock phosphate deposits
 Being locally sourced and needing to be applied less frequently results in much lower carbon emissions (in effect increasing the present NZ electric vehicle fleet from 10,000 to 29,000 vehicles)
 It is New Zealand’s only significant source of phosphate and seabed extraction involves a far smaller environmental impact than that imposed on local overseas communities which mine phosphate
 The rock is located within one day’s sailing distance and supply is far more secure (and more ethical) than phosphate rock imported from unstable regions on the other side of the world
 The project economics are attractive and Chatham will pay significant royalties and income taxes
 The project will generate new jobs in environmental monitoring, on the mining ship, in the home port and in the science and agricultural sectors
 Chatham rock phosphate has been independently shown to be as effective as other phosphate fertilisers used in New Zealand. We could provide the two fertiliser co-ops supplying most of New Zealand’s fertiliser with a green fertiliser alternative to naturally complement their other products.

For further information please contact:

Chris Castle
President and Chief Executive Officer
Chatham Rock Phosphate Limited"
'

[Sideshow Bob]

Another capital raise.............yawn......but the handicap has come down quite alot lately.

Chatham successfully completes private placement - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/366404)

[Sideshow Bob]

Chatham provides Quarterly Update - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/367741)

The Sharsies effect......

[Dlownz]

Chatham provides Quarterly Update - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/367741)

The Sharsies effect......

That announcement had no substance at all in fact it was a bit of a joke to talk about the number of new investors.
While I like the their concept, I don't see how they will vmvevsble to do what they want to do with a focus on company's damaging the sea floor

[Getty]

Looks like someone thinks Chatham rocks...

Up 28% today.

[Dlownz]

Looks like someone thinks Chatham rocks...

Up 28% today.
Classic pump and dump.

[Getty]

I've got a dream...https://youtu.be/DPUZPyHDo6s

[winner69]

Looks like someone thinks Chatham rocks...

Up 28% today.

Hope they go down the gurgler .CRaP appropriate ticker code for this wannabe environment destroying outfit

[Nor]

Hope they go down the gurgler .CRaP appropriate ticker code for this wannabe environment destroying outfit

As if the agricultural development of NZ hasn't already destroyed thousands of times more environment.

[cammo]

Cos we need it to grow plants with and then piss out the po4 and dump it in the ocean, makes much more environmental sense to recover it as a precipitated nodule from the local ocean rather than import the high cadmium po4 from Morocco. Plus it's a rock form rather than ionic so no leaching into rivers. Much better concept imo.

[Marilyn Munroe]

.... Plus it's a rock form rather than ionic so no leaching into rivers. Much better concept imo.

I found the comment about different types of phosphate interesting.

Of general interest, rather than specific to Chatham, phosphate leaching is a hot environmental topic.

Cammo, I would appreciate it if you could expand on your rock=good, iconic=bad comment.

Boop boop de do
Marilyn

[peat]

yeh imo a rational based decision would actually allow this project.

doesnt make it a good investment tho...

[artemis]

I found the comment about different types of phosphate interesting. Of general interest, rather than specific to Chatham, phosphate leaching is a hot environmental topic.

Cammo, I would appreciate it if you could expand on your rock=good, iconic=bad comment.
Boop boop de do
Marilyn

Last week's CRP quarterly update to the NZX covered off some wider environmental matters.

IIRC the Chatham Rise application to the EPA is waiting to see what happens with the EPA (re)review of the Trans Tasman Resources case (Taranaki iron sands). There are protesters including local iwi. However the Chathams local iwi are on board with the phosphate extraction, no doubt helped by a free carry.

The rare earth aspect is interesting, though still pie in the sky.

[winner69]

Is Chris having a few problems raising capital?

[cammo]

The phosphate nodules have the Phosphorus bound in a covalent type fluorapatite Ca5(PO4)3F or hydroxyapatite Ca5(PO4)3OH. These are not soluble in water (they are on the seafloor as little isolated lumps. Typically around 10-20% P2O5 equivalent. No cadmium. Our current source is phosphate deposits from Morocco. We leach the phosphate out with sulphuric acid, then react with ammonium or calcium etc to produce an ionic relatively soluble (leachable) compound. Most common ones are calcium biphosphate (superphosphate)CaH2PO4 and ammonium phosphate (NH4)2HPO4. Due to the presence of cadmium in the phosphate ore, it is carried along into the fertilizer even though most metal phosphates are insoluble ( complex polymeric phosphates and more soluble mono and bi phosphates similar to the above Ca and NH4 are probably to blame). Hence ionic fertilizer is not good for leaching. Phosphate type nodules powdered are a good solution as it requires plant initiated/bacterial/root interface to allow the Phosphorus to be freed from the powdered rock, meaning rain wash, leaching etc all do not apply. But the EPA didn't want it to progress, so we continue to feed you cadmium in your broccoli and wonder why we are all getting Alzheimer's past 60.

[ziggy415]

Sorry guys but sounds like another talisman mine...just cant get excited....cash raise needed so flower it up..buy/amalgamate some obscure over seas mine and milk the punters some more

[whatsup]

Is Chris having a few problems raising capital?

Life style company for fish heads ?

[Sideshow Bob]

Life style company for fish heads ?

Yes, the golf course does actually look rather good fun.....!!

OnekakaLinksGolfCourse (http://www.onekakalinks.com/)

[NeverQuestion]

Sorry guys but sounds like another talisman mine...just cant get excited....cash raise needed so flower it up..buy/amalgamate some obscure over seas mine and milk the punters some more

Couldn't agree more. Sure the idea is sound. But Chris is more concerned about lining his own pockets, than making this company go anywhere.

I have been through the rinse and repeat a few times with Chris.. Various companies.. Here is the play by play as I see it :

1. Make an announcement that makes the company sound like it is in a niche market, that it has a real chance of going somewhere.

2. Capital raise!! We need your money to achieve this and that..

3. Drag on company announcements. More listed companies included in the scam the better!! Makes it seem like more is going on!
Can keep posting their announcements as your own.

Goal here is to slowly move the money into your pocket.. Travel, conference expenses, wages, payments in Shares etc.. Anything that can be passed off as looking like valid business expenses is the key...

4. Repeat 1-3 until share price is sub 1c

5. Announcement around a reverse take over, or something similar.

6. Drag that on while you try to sucker in another major shareholder

7. If all else fails, and you still need money for the boat. Either :

A) Do a reverse take over, try to make it sound like a good idea and you will make money. Last possible minute, reveal a massive share price consolidation that will wipe out any gain that he promised in the take over. Or prevent you from making a return at all.

He obviously gets his cut tho

B) If you think you can keep the scam going, then do a massive share price consolidation and start again a step 1!!

Sound accurate?

[Getty]

It certainly does!

How long did you work for Chris of CRP & Matt of NTL? lol.

[Sideshow Bob]

Financial statements are out.

Not sure why you spend $192,808 on 'marketing' when your only revenue is $5,202. :confused: Oh yeah, gotta keep raising more money!!

Marketing is from "The marketing costs relate to Canadian based share marketing contracts. These contracts provide services including online marketing, advertising and writing feature articles."

Financial statements: 351209.pdf (nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com) (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/CRP/376411/351209.pdf)

This is a reasonably interesting document:

CHATHAM ROCK PHOSPHATE LIMITED (nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com) (http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/CRP/376411/351210.pdf)

Although it starts off: "CRP is Stock Exchange listed in Canada, New Zealand and Germany.As a result, Chatham is positioned on the world stage to more effectively raise funds from international investors.....". :scared:

Chatham Financial Statements and MD & A at 31 March 2021 - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/376411)

[Nor]

Yeh good on em.

[nztx]

Yeh good on em.



Aha .. why do images of a sponge come to mind when looking at this one ? ;)

[Nor]

You tell me.

[artemis]

Some positive news announced today on several fronts, including a phosphate-shock price rise and the Korella mine that could be cashflow positive in 2022.

The Chatham Rise project is still on hold. Though New Zealand could do with the revenue (and the product) I reckon.

https://announcements.nzx.com/detail/384464

[Sideshow Bob]

CRP applies for Korella South phosphate and REE permit - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/384773)

"Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX: “Chatham” or the “Company") has this week made another stunning advance."

[whatsup]

CRP applies for Korella South phosphate and REE permit - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/384773)

"Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX: “Chatham” or the “Company") has this week made another stunning advance."

interesting.

[Nor]

Sounds like an announcement from a totalitarian regime. (But I'm all in favour of CRP). How many thousands of years would it take them to have as much effect as one ocean volcano 🌋 going off?

[whatsup]

CRP applies for Korella South phosphate and REE permit - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/384773)

"Chatham Rock Phosphate Limited (TSXV: “NZP” and NZX: “Chatham” or the “Company") has this week made another stunning advance."

Market catching on re the business expansion , hmmmmm !

UP 10% today.

[Nor]

Wish I'd got out when they were at 40c, pre about 1 for 65 consolidation or something ridiculous like that. 40c × 65 hmm $26? now a whopping 16c.
Wont embarrass myself by divulging my reasoning for not selling then.

[whatsup]

Market catching on re the business expansion , hmmmmm !

UP 10% today.

CRP on the up again today, punters obviously like the rebirth story ! Hmmmmm !

[easy money]

Yes.. Would have to be the best performing stock on the nz market at the moment..

[Sideshow Bob]

Yes.. Would have to be the best performing stock on the nz market at the moment..

Up 5c today, and 125% so far this year.

Maybe every dog has its day.......

[easy money]

That's right.. Not much left on the sell side now..

[Watchful]

Not a surprising reaction when you see fertiliser price rises over the last year and more-so recently, as well as Russia threatening to withhold their 20% of the global supply.. speculators will speculate.

[Sideshow Bob]

Not a surprising reaction when you see fertiliser price rises over the last year and more-so recently, as well as Russia threatening to withhold their 20% of the global supply.. speculators will speculate.

Although how much is it worth if it remains at the bottom of the sea.....;)

[easy money]

Take a closer look at this company... There are other things going on.. which probably explains the re rating

[Sideshow Bob]

Take a closer look at this company... There are other things going on.. which probably explains the re rating

Yes there is more happening and appears promising. However managements track record on delivering is........

[winner69]

Yes there is more happening and appears promising. However managements track record on delivering is........

Share price correlated to golf handicaps still?

[easy money]

Yes

I know what you mean.. Still a huge jump in share would indicate a change in confidence.

[Sideshow Bob]

Share price correlated to golf handicaps still?

Golf's going pretty good. Handicap is 2.4!!

[Sideshow Bob]

CRP Achieves Key Korella Phosphate Mine Milestone - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/390665)


The start of cash generation from phosphate sales will mark a transformative milestone for the Company. :blink:

[easy money]

Share price just gone over 30cents.. Next week higher again..

[nztx]

How much is the King of the Castle being paid for these enhancements
and further rounds of Golf ? ;)

Can't quite see it in report under but may have missed it:

http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/CRP/383818/360681.pdf

[Getty]

CRP Achieves Key Korella Phosphate Mine Milestone - NZX, New Zealand’s Exchange (https://www.nzx.com/announcements/390665)

[/FONT]:blink:

Ah, some cash generation, to be ashed by some cash burn.

[whatsup]

Ah, some cash generation, to be ashed by some cash burn.

I see that re CRP's 13-5-22's ann that they are investigating the possibility of extracting REE's ( rare earth minerals, all the rage world wide atm ) from phosphate from the Korella and Korella South mine with the help from the CSIRO.

If there is any positivity from this watch out, we are in play, even with out the REE's the future is lookin the best that it has for a decade at least, may be this is the reason for the recent buying interest. ( from a 10 year owning holder in various entities ).

[whatsup]

I see that re CRP's 13-5-22's ann that they are investigating the possibility of extracting REE's ( rare earth minerals, all the rage world wide atm ) from phosphate from the Korella and Korella South mine with the help from the CSIRO.

If there is any positivity from this watch out, we are in play, even with out the REE's the future is lookin the best that it has for a decade at least, may be this is the reason for the recent buying interest. ( from a 10 year owning holder in various entities ).

Someones taking notice, are u a leader or follower ?

[whatsup]

Looks like Im beating a solitary drum with this one but someone has taken notice, Im picking this will be a two bagger before the end of this year if all expectations fall into place ! DYOR.

[Nor]

I'm still here but it will take more than two bags to get my money back. It will take a miracle. The project was not a silly thing to invest in it's only regulation that prevents it going ahead.
... Standing by for a barrage of angry responses from people who agree with the regulation and KNOW that they are right.

[nztx]

Looks like Im beating a solitary drum with this one but someone has taken notice, Im picking this will be a two bagger before the end of this year if all expectations fall into place ! DYOR.


I'm watching .. must be one of the only/few NZX listed outfits in the sector
The Listed REE smallcaps are pretty much on fire across the ditch :)

[whatsup]

Slowly rising again .35 atm.

[whatsup]

Interesting demand on the buy side today !

[Sideshow Bob]

Interesting demand on the buy side today !

Don't think the holders offering 845 shares for $460.00 will get hit for a while yet.....

[whatsup]

Don't think the holders offering 845 shares for $460.00 will get hit for a while yet.....

Yeh, interesting sell, if achieved it will be the highest priced share in N Zs history.

[whatsup]

I'm still here but it will take more than two bags to get my money back. It will take a miracle. The project was not a silly thing to invest in it's only regulation that prevents it going ahead.
... Standing by for a barrage of angry responses from people who agree with the regulation and KNOW that they are right.

Nor You must be happy that CRP is off the bottom at last, as an aside what do they owe you .80 ?

[whatsup]

Comment in todays Herald that CRP has risen over 150% in the last 12 months, IMHO there is much more to come as the investment community wakes up to their change of direction and fortunes, can we see $1-00 this year ?

[Sideshow Bob]

Trading at the equivalent of 31.7c in Canada.

[Nor]

Nor You must be happy that CRP is off the bottom at last, as an aside what do they owe you .80 ?

Ahem, embarrassing to admit, but I have been here a very long time, longer than I can even roughly state without thinking about it, and it was at a time before I discovered the vast trove of exciting Australian speculative stocks on which while significantly reducing my investment on many I have avoided the total wipe out of CRP and have counter balanced by doing ok on others, at that time and even now the nzx was very short of exciting speculatives, hence CRP. That is my excuse, to cut a long story short, taking into account the 1:~65 consolidation, about $2.

[easy money]

Crp up another 10 percent today...Rock on...

[ynot]

I took a serious hit percentage wise on CRP all those moons ago and still holding. Fingers crossed.

[whatsup]

Up 35% today and IMHO plenty more to come !!

[nztx]

Cripes 61.0c close today +7.0c +12.96%

[whatsup]

Cripes 61.0c close today +7.0c +12.96%

Yeh, UP from .12 this year a 5 bagger so far !! only one in N Z so far this year !!

[Sideshow Bob]

Yeh, UP from .12 this year a 5 bagger so far !! only one in N Z so far this year !!

How much shareholder value would CC's company's have eaten up over the years.....??

[winner69]

How much shareholder value would CC's company's have eaten up over the years.....??

Its all a matter being in the right place at the right time .... timing is key ..... or just lucky as with his five bagger

Whatever well done whatsup

[Sideshow Bob]

Its all a matter being in the right place at the right time .... timing is key ..... or just lucky as with his five bagger

Whatever well done whatsup

Indeed Winner - life is all about timing.

Hopefully a few holders who have thrown these in the bottom drawer get some return finally.

[Nor]

Amen .

[whatsup]

Profit taking atm to be expected after its stellar run which imo is not finished !

[whatsup]

Looks like that the profit taking has finished after the recent move from sub .30 to .64 and with todays seemling good ann it onwards again and once next weeks Toronto's PDAC presentation has been digested I think that there will be more interest in the rebirth and future of CRP.

[ziggy415]

Looks like that the profit taking has finished after the recent move from sub .30 to .64 and with todays seemling good ann it onwards again and once next weeks Toronto's PDAC presentation has been digested I think that there will be more interest in the rebirth and future of CRP.

Kruscible mining...then venus resources .....and now crp about to mine korella...lots have had many feasibility studies done and jorc levels etc...reminds me of Matt hill and gold mine in waikino...lots of talk and tests but not much action....