Cline Mining Corporation T.CMK

keep pressing the management

[longonsino]

if they don't respond it's not a good sign, may be in process of filing for CCAA if it can't get the financing. I have no position long or short. Would have shorted if I could (not an eligible stock to short). But from previous experience, bondholders are not willing to work with shareholders, having divided interest. Anyway, good luck to you all. Do your own research and don't just listen to anyone.

[shane117]

longonsino, filing for CCAA is a good thing. It buys Cline more time to get their finances figured out. You keep talking like it's a bad thing. It's not the best situation but it's certainly far from the worst.

[longonsino]

Shane, I used to think it was a good thing, until I found out that CCAA gives all the power and rights to the bondholders. The problem is once your're in CCAA, you can't get out without an agreeement with the bondholders, and they will hold on to every penny. I've seen companies where the old shareholders own either nothing (like at TRE) or 0.01% total of the new company, while

[pastafagoli]

Shane In all of these filings the equity holders (ie us) get wiped out sometimes through massive dilution or just wiped out.  There is a pecking order - secured / government / unsecured - usually the unsecured (trade payables) take a big haircut.  Equity always get zero at this point.  CCAA is bad for existing shareholders.  

[straightbull]

The mine is in the US. CCAA rules don't apply, but I think Chapter 11 is similar. No word from management suggets this company is near death. Day traders will squeeze a few cents here and there, but one day the game will be over.

[shane117]

Unless the 30 days under the CCAA filing is used to find an outright buyer for the company or additonal financing. Let's not forget that the debt is only 2.5 million.

[ark88]

Filing for CCAA, is it good or bad for shareholders? My business provided consulting services to a company that ended up filing for CCAA.  Lets just say I have some experience trying to recover monies owed. With assets that Cline holds, which are very illiquid, it going to be both not very pleasant and time consuming if they go into CCAA protection.

[longonsino]

Shane, The 30 days is to get back to solvency with the missed payment. The company can file under CCAA in advance before the end of the 30 days, if it sees that it won't be able to come up with the money. Not trying to scare anyone, but the trading halt could come anytime. That's why I'm coming out, and saying this. Never been a basher, or else I would have done it

[kingyahoo]

What will putting pressure on management do? The market decides why CMK is trading around .9 cents when the lowest SP after the bad news was .45 cents. Why is the volume high? These are the questions I spend a wee bit of time with because I want to make money, or take a hair cut fast before I become bald. But, I do not sweat like most of you on this board. But, it is fascinating to see

[borrowedlife]

keep asking how many have sold since the drop from the highs or even from the $4mark? compared to how many have been bought from .045c ? ALOT holding on. was expecting more to sell due to tax loss time. majority didn't. IMHO  do ur DD.

[kingyahoo]

Chinese coal giant's goliath mine in Queensland to dwarf regional peers https://www.mining.com/chinese-coal-giants-goliath-mine-in-queensland-will-dwarf-regional-peers-77574/?utm_source=digest-en-minedev-121221&utm_medium=email&utm_campaign=digest