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Bullboard - Stock Discussion Forum Cline Mining Corporation T.CMK

Metals & Mining Industrial Metals & Minerals

TSX:CMK - Post Discussion

Cline Mining Corporation > Cline mentioned in TD Daily Update
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Post by Topham.trading on Oct 17, 2012 4:15pm

Cline mentioned in TD Daily Update

Given current weakness in the metallurgical coal market, it may take until the middle of next year for Cline Mining Corp. to solve its liquidity concerns and secure coal sales, commented Dundee Securities analyst Joseph Gallucci. He continues to believe that the company’s New Elk mine in colorado is an attractive long-life asset, but he downgraded Cline to “neutral” from “buy,” given risks that it won’t be able to find a buyer for its coal.

Downside: Mr. Gallucci cut his price target to 50 cents from 90 cents.

Comment by kidman on Oct 17, 2012 6:47pm
Cmk does not have the cash to last 6 more months.  At present cash burn rate CMK will be filing Chapter 11 in 4 months.
Comment by shane117 on Oct 18, 2012 8:15am
Kidman, I'm sure Cline will issue more shares before filing for chapter 11.
Cline Mining Corporation
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