Cline Mining Corporation T.CMK

The millionaire farmer

[bond46]

Hope everyone has heard the joke with the farmer who won 1million dollars in the lottery. They asked him what are you going to do with all this money. " I am going to keep farmig until it's all gone" he said. Case in point the would be farmer Bates turned CEO. Imagine how  genious you have to be in order to deplete between August 2011 to August 2012 $50 million dollars and put the back of this company and the interests of the shareholders  against the wall. And this I suppose he calls  "successful management"? We can imagine what a failure would be like. And he has the nerve and audacity to call himself a CEO and worse to be at the helm of this company. All this time Bates did not know anything about the law of Supply and Demand but the 3 milion tons of coal production and sales was just around the corner. One wonders what kind of a universe the man is living in or what sort of weed he is smoking, or whether  plainlyhe  suffers from dimentia. The man is still dreaming of new financing. Who the hell is going to give money to a bankrupt used car salesman? On the other hand, this may be an opportunity to clean house and David Stone must seize this opportunity and whoever gives money to this company to set conditions of change and dump all the Holy Family, board and CEO. We only hope.

[aatwal]

Like I said many times before:  Poor management can bring down a company with great assets, and vise versa!  I am beginning to feel that CMK may of had an offer to be bought out, but Bates and Company may have rejected any reasonable offer!

[aatwal]

I hate to say this but I think there is a massive dilution coming if that stockpile is not sold and no off take agreement secured.  This is really unbelievable....is the coal really that sub par that no steel mill wants to touch it?  If this is the case the mine will be closed to awhile yet! 

[CoalRookie]

I think it was more about CMK waiting for a better price than no one wanting the coal. At least, thats what I remember reading in a news report. Sounds like something this BOD would say, but even they can't deny that beggars can't be choosers when it's time to repay debts and the cash just keeps getting lower and lower. As far as the coal goes, I would love to know the quality of

[steeler07]

aatwal, Coal qualty is yet to be determined -  my understanding is initial grades are High vol A and B Hard coking coal which can be blended with the best grades from Aust. and Canada.  Chinese and Indian coke makers are very good at blending. Current price low vol hard coal -  $147 / high vol A hard coal - $133 / high vol B hard coal -  $115  

[bond46]

I don't think there is something wrong with the quality of the coal; this mine was feeding the steel mills for years until the mills went with electric arch furnaces making steel from tailings rather than using met coal, a process which was introduced in the States due to a lot of steel from the junk yards, a luxury that developing countries do not have and have to rely on met coal. The

[aatwal]

In the latest press release we did not get any hint of coming even close to signing an off take agreement.  They are still in the same situation as they were 6 months ago, even though now the coal sector has been rebounding, and prices firming up.   The management is still blaming someone else for their problems!  Now it is not a sector problem, it is a company specific problem

[bond46]

If there is massive dilution this stock will go to 5 cents like the First Nickel (FNI)and will stay there untill hell freezes over.  Bates must be having nightmares with the prospect of losing all his investment , 1.8million shares turning into dust. And, at his age, he does not have enough time for a second chance, next destination is the dead end garden.

[cokeexpert]

You don't THINK there is anything wrong with the coal?  But you don't really know?  Let's say little coal nuggets just walked to the surface...no mining involved.  They still have to be piled, washed, piled, loaded to trucks, piled at coal loadout, loaded to train, piled at port, loaded to barge, piled in China, loaded to trains, piled at mill....before Cline makes a