Cline Mining Corporation T.CMK

Time will Tell

[courtney10]

I am glad that the over allotment was filled.   Cline has about $81 million from financing, plus about 4 million presently in the bank, so, with $85 million- hopefully we get to production.

I have lost alot of faith in mgmt, but have read the 43-101, which includes a PEA and am ok with the numbers.
Still has some obstacles to overcome, 

-  approval of permits for rampup
-  sales contracts
- need to get equipment and employees in place

Call me a fool for believing, but i cannot see how the latest equity issue was completed without T.D. and the others not doing there due diligence.

Also, can Bates and company be either that stupid, or that crooked,  to go out and lease property in Corpus Christi, go out and hire a sales mgr,  go out and spend as much as they did so far, without there being en economic mine.

I am not adding to my position, but am not certainly selling at a loss either. 

Time will tell.   October is not too far off. 

[cooper90]

Courtney10 can you let me know where you show they only have 4 x million in the bank? Also, I thought with the overalotment which was completed it's $86 million NET from the financing?Your feedback is appreciated. Cooper90

[courtney10]

The final prospectus states that they had over 4million in the bank as of the date of issue announcement.Cline will receive just over $70 millon from the original issue, (deduct fees)  then another $12 million approx from the over allotment.   Should have roughly $85- $87 million to work from.'

[miner8740]

only getting approx 200 tonnes a day, may not make the 350 thousand target, OHSA agency declares washplant inactive as noted on the web site, something strange may be going on, may need adutiors to check thing out

[brundall]

This post has been removed in accordance with Community Policy

[ark88]

Still has some obstacles to overcome,  -  approval of permits for rampup-  sales contracts- need to get equipment and employees in placeIf I have to prioritize the list above, I would say first and foremost the approval of permits for rampup would be critical. Quite obvious I know, but the process to bring New Elk into production does involve ongoing permitting and in my opinion

[cooper90]

Thanks Courtney10, and others who have outlined the detailed cash positiions, cash used etc, and on what to-date!Cheers!

[brundall]

This post has been removed in accordance with Community Policy

[ark88]

The one wriggle room that they do have is the reinstallation of the rail-spur which is estimated to be $20 mil. They can if they have to postpone this and continue trucking up to 3.0 mty to Jensen. The other item that is impossible to discern in the cost projections is whether they are carrying any contingencies.

[ark88]

Not expecting sales contracts in the short term, but I am expecting news on a trial shipment to a customer. Someone can correct me if I'm wrong but as I remember from WTN, a trial shipment includes 50k ton of coal. They must have this amount or close to it stockpiled by now.

[cooper90]

Good post Ark88! I think we are in the dog house for two reasons, first because of the stock issue fiasco and lack of updates from the ASM, and second overall lack of updates in general after such a stock issue and reduction in 2011 production forecast. IMO they have a great mine and it's coming together but they really need to do a much better job at updating all aspects of their business

[miner8740]

no they do not have a great mine, they may have many challenges that may hamper production, look at the previous owner, everyone is comparing this to gce or wtn which is a wrong comparision as one group is open pit with little risk vrs ug which has lots of risk.still may be shortfall by 50 million at end of year due to lack of production, this sp will easily hit 2.00 within the next few weeksalot